It’s no secret there’s stiff competition between merchant cash advance providers. What that means is, you can’t rely on old ways of getting business owners who need loans.
Most of the business owners who need cash advance loans are millennials, and if you depend on a phone book or directory to reach them.
Then you are missing out!!!
What you need to do is build your presence on social media because there is where they are. In this article, we want to look at ways you can use social media to get merchant cash advance leads. Before we do that, let's look at:
Are Fellow Providers Using Social Media?
Chances are, they are using social media to get high-quality targeted leads. If you log in to your Facebook or Twitter account today, chances are you will see lots of ads about merchant cash advance.
Or you will see them going live demonstrating to their customers how their services can help them. Sometimes they can share posts. Even if most of your fellow providers don’t use social media, it pays to have a presence there.
You may not see the results immediately, but your clients will keep you forever in their mind when they need something. In other words, the extra time and energy you put forward, won't go to waste.
Don't let anyone cheat you to think that social media is just liking, commenting, and sharing the posts. There's a lot more that goes into lead generation using social media. The good news is, you don't have to do it, what you can do is hire a social media director to help you.
Using Social Media is Free
Let’s agree on one thing.
Using social media as a tool to generate MCA leads won’t cost you a thing. It will only cost you time. But what you do not realize is that you can reach thousands of potential business owners who would cost thousands of dollars in print advertising.
If you are a merchant cash provider who is just starting, you may want to reduce most of your marketing cost until you see a return of your investment. And one way to cut down expenses using social media to generate high-quality targeted leads.
What you can do in your posts is to keep educating people about your service and how it can help people. Now that you have understood let's look at how you can use social media to sell merchant cash advance.
Create a Social Media Calendar
Maybe you are wondering what the “hell” is a social media content calendar? A social media content calendar is what it is. A calendar or small document that contains a list of things or content you will type on social media for the week, month, or even a year.
Any merchant cash provider who is serious about social media, won’t start any social media campaign without a detailed calendar. But why would you need a social media calendar? For the following four good reasons:
To save time and stress: Having an organized calendar will help you plan and schedule all of your posts in advance instead of writing them every day. For instance, if you want to share how your services work next week, you will start by creating a promotional copy, have all the material together, and schedule all your posts ahead of time. When your posts are planned ahead of time, you minimize the risk of forgetting, and this also ensures your audience consumes your content in real-time without forgetting important dates.
Keeps you Organized: Am sure you are always tired of using many documents to track all your social media post. But when you have a content calendar, you have everything in place, and you know exactly which post will be published next week on Monday, Tuesday, or even Wednesday.
Ensures Consistency: Do you know the number one reason why most merchant cash advance providers fail? It is because they lack consistency in social media posting. Having a social media calendar guarantees you that you will have no days or week without any piece unpublished. Consistency in posting will help you develop your brand's voice, which is essential when you are dealing with social media.
Encourages Team collaboration: If you have your team, having a social media calendar is one way of collaborating. Your team can share ideas, make changes, and plan for future content.
When you are creating a social media calendar, make sure you include the following things:
Content categories/content-type: Here is where you decide what kind of content you will publish. You can create themes and types of different topics that you will dwell on each week. The content category will include things like blog posts, product promotions, about us, user-generated content, upcoming company events, and many more.
The date and time of you will publish each post
Copy of the post
Links to your post
Assets: You can accompany a photo or a video to any post you may have.
Build Solid Relationship, Not Followers
Perhaps the question you need to ask the most is, do your followers count or is followers a false metric.
One thing you have to know is having 100 regular engaged followers with your content is more important than having 10,000 followers who ignore you. This might look like a cliche but listen.
The main reason why it is called social media is to give you an excellent platform for you to build a great relationship with your followers from any part of the world.
It might be cliche to say, but don’t leave the “social” out of your social media presence. The beauty of social media is that you can form relationships in an instant with followers from just about anywhere.
So, where do you exactly start? Here are some ideas for you:
Creating a habit of mentioning people in social media posts as a reference. These people can be your clients or customers.
Always give detailed answers to questions people ask you.
Always give a reply when people mention you or share your content
Do be the person whose job is to retweet or like other people's content without giving them a comment to start a conversation.
Focus on Helping, Not Selling
We are impatient creatures. We want something now, and that is it. If you are running a merchant cash advance business, you are always worried about sales. Low sales can make you impatient.
But social media works differently. Before anyone decides to shell their cash, they want to see whether they can trust you first. And the best way to build that trust is to help people and not hard selling.
Instead of pushing your services, help them first. You do that by showing them how to solve a particular problem. One thing that we know about business owners is that they have lots of challenges they are facing apart from wanting cash advance loans.
Once you start talking about their problems, they will resonate with you. They will view you as an authority who understands their market well. For instance, when they ask a question, you need to be quick to answer the question.
And when your followers are buzzing about a problem, you need to think carefully and create content that addresses that issue. You see, when you start offering your clients a solution to their problem instead of hard-selling your services, you are showing them you are an authority, and they will be your lifelong partner.
No matter what you post, know that photos and videos are killing it now. Instagram is exploding, and if you are not taking advantage of it. You are missing it out.
Facebook states that live videos nowadays get six times more engagement than any other kind of content. And if you belong to twitter club, you have to understand that graphics and videos are killing it and getting more shares than text-based posts.
But here’s the good news:
Going visual doesn’t mean you need some sort of special equipment or invest in a full-blown production budget. What you can do is, you can publish:
Team photos or videos
Photos of customers
Photos of events
Behind-the-scenes photos and videos
Since there are so many tools to create social media images and videos, it is so easy for anyone to go visual with their audience on social media.
The best way to stand out on social media is to create content that everyone wants and loves. Whether you are building your brand or company brand, you need content that makes people see you as a thought leader.
Creating original content will give you a ticket to be a thought leader. Original content can come from blog posts, research, or infographics. Sometimes all you need to share with your client is an eye-popping snapshot of you during the last vacation.
Sometimes it can be a rant on your industry or a myth you are debunking. If you run a merchant cash advance company, know that there is a lot of noise in social media, and you must break through the noise and stand out.