Prospect Objections

Strategic Financial · #1 (**permalink**) 10-04-2008, 05:39 PM

Hey Everyone,

Thanks for your input on the best way to generate leads. Ive developed a few leads via email but am finding that each prospect seems to ask the same question right off.... that is "what is the interest rate" or "what is this going to cost me".

With mortgages and car financing offerings all the advertisers push their interest rate as the main way to distinguish themselves. This has developed a interest rate sensitive society to a certain extent.

So how do you answer this question in a positive way so that the prospect still wants to do business with you and moves the deal forward?

I have tried "well fax us your most recent 4 months credit card statements for a no obligation quote" and sometimes that works, but not 100% of the time.

Thanks

Ty
Strategic Financial Network, Inc

LeadMan · #2 (**permalink**) 11-19-2008, 10:02 PM

Quote:

Originally Posted by Strategic Financial

Hey Everyone,

Thanks for your input on the best way to generate leads. Ive developed a few leads via email but am finding that each prospect seems to ask the same question right off.... that is "what is the interest rate" or "what is this going to cost me".

With mortgages and car financing offerings all the advertisers push their interest rate as the main way to distinguish themselves. This has developed a interest rate sensitive society to a certain extent.

So how do you answer this question in a positive way so that the prospect still wants to do business with you and moves the deal forward?

I have tried "well fax us your most recent 4 months credit card statements for a no obligation quote" and sometimes that works, but not 100% of the time.

Thanks

Ty
Strategic Financial Network, Inc

Hi Ty,

A great way to overcome this is to purchase leads of companies who have already had a Merchant Cash Advance in the past. These companies are already familiar with the process and they will not be blown away by sticker shock.
An example of this would be to prospect to companies who have had a MCA through companies who provided a higher factor compared to what you can provide (i.e. NONAMEMCA1 1.41 factor versus NONAMEMCA2 1.20 factor).

I hope this helps.

natcel · #3 (**permalink**) 11-19-2008, 10:22 PM

I would not advise you to push the UCC leads down the throats of
Agents starting out.

1) Becuase of guys like you targeting UCC Some major Funders will now only
put a UCC when the merchant is in defualt

2) It is not easy getting a Good merchant to leave the current Funder
if the merchant is good the existing funder will have called him to renew

3) These UCC leads are getting the most calls and will give you the most hang ups.

GRP Funding · #4 (**permalink**) 11-20-2008, 10:32 AM

You just need to explain that this is not a business loan - and therefore does not have an interest rate. The advance company is buying out a portion of your future credit card sales at a discount. If you send me your 4 most recent credit card processing statements - it would help give me a better idea on how much you would qualify for. Then what I can do is put together a few different options to see what works for you and the business.

Get them excited about the business. Ask what they need the money for. Once they spend the money in their heads, they'll do what it takes.

I think I posted this rebuttal somewhere before - but it works almost every time when someone says the money is too expensive...

If I promised to bring you $13,500 in business over the next 6 months or so - that would be a good thing right? Now if I wanted to pay for all of those meals/products/etc. right now - would you take $10,000? Of course you would.

Same thing as an advance - giving them money now for future sales.

"A sale is made on every call you make" - one way or the other.

Good luck.

LeadMan · #5 (**permalink**) 11-20-2008, 01:08 PM

Quote:

Originally Posted by natcel

I would not advise you to push the UCC leads down the throats of
Agents starting out.

1) Becuase of guys like you targeting UCC Some major Funders will now only
put a UCC when the merchant is in defualt

2) It is not easy getting a Good merchant to leave the current Funder
if the merchant is good the existing funder will have called him to renew

3) These UCC leads are getting the most calls and will give you the most hang ups.

HI Natcel,

On number 1 you stated the following "1) Becuase of guys like you targeting UCC Some major Funders will now only put a UCC when the merchant is in defualt"

Why would a debtor(Merchant) sign a UCC if they are already in default?

Thank you Natcel.

blancapeak · #6 (**permalink**) 11-20-2008, 02:48 PM

Quote:

Originally Posted by Strategic Financial

Hey Everyone,

Thanks for your input on the best way to generate leads. Ive developed a few leads via email but am finding that each prospect seems to ask the same question right off.... that is "what is the interest rate" or "what is this going to cost me".

With mortgages and car financing offerings all the advertisers push their interest rate as the main way to distinguish themselves. This has developed a interest rate sensitive society to a certain extent.

So how do you answer this question in a positive way so that the prospect still wants to do business with you and moves the deal forward?

I have tried "well fax us your most recent 4 months credit card statements for a no obligation quote" and sometimes that works, but not 100% of the time.

Thanks

Ty
Strategic Financial Network, Inc

Hey Ty, with my services, you'll get the full scoop on what to do and what not to do. With two years of providing live calls for MCA's and have the recorded calls to prove it...I can show you what to do.

Now it's up to you.