Small Business Loan Leads When and Where You Want Them

More information about our small businesses loan leads

Small business loan leads, and business loan leads are catch terms that apply to a business that is looking for financing. Of course, the leads fall into many different categories. For most lead providers, a qualified lead is what will give you the ability to narrow down your perfect borrower.

How to get the most out of your small business loan leads

When you decide to purchase leads, you want to get the most out of them. Here are a few tips on doing just that.

Focus on loan type first

Let’s focus on loan type. Of course, you have the lending criteria that you can filter on however, narrowing down the type of loan a lead is looking for or what type they think they are looking for is one of the best ways to experiment with the type of lead that works best for you.

Trust but Verify

If you have ever said, “these leads suck,” ask yourself if you have done any experimenting with changing your filters? Have you analyzed the leads, or are you repeating what your producers or salespeople are saying when they are outside smoking cigarettes or drinking coffee in the breakroom?

There are a lot of people involved with a lead, from generating it to closing it, and that is called a borrower’s journey. This journey should be tracked and analyzed. It is the only way you know what is happening with your business.

Five points to consider

Try the following exercise, and if you need help, you can always reach out to me by going to the contact us page, and I will do my best to point you in the right direction and give you my best advice.

Remember that not all lead providers ask this question, or the answer is not completed in the lead form. Having this data and setting up experiments can be revealing.

1 – identify what can be filtered.

2 – Find out if you can have more than one campaign

3 – If you can then set them up with different filters and tag them in your CMS

4 – If not, you may have to tag them to filter later down the line manually

5 – Keep a close eye on the data as it comes in. Keep track of the leads that close and constantly look for common things in each.

Start here and do as much analysis as you can with your data. This will give you insight, trends, and possibly some great opportunities you can take advantage of.

Make your own luck

Purchasing leads is just one of the ways to find prospects. If you want to add value, start producing your own leads. Start looking at the closed leads and see what the average buyer looks like. Build a persona around that niche and keep it very nichey. This will allow you to build a marketing strategy around your borrower personas, and then you can activate tactical marketing campaigns to target that borrower persona.