How an ISO Can Find Larger MCA Deals [WEBINAR CLIP]

If you watched “Are Bigger Deals Really Better for ISOs?”, you are familiar with the big game hunting analogy Mike Langford used in our webinar Adopting a Hunter’s Mindset”. The theory is, an ISO can live on small MCA deals, but bigger deals ($50,000+) will help them take their business to the next level and allow them to hire better talent, move into a bigger space, and invest in top notch tools. The question is: how can you find big deals?

Using the big game hunting analogy – if finding deals is like hunting animals, ‘finding’ deals is like taking your shot in the woods. What do you need prepared in order to hunt larger, bigger deals? Just as you would need to equip yourself with tools and weapons in the woods, there are a few steps necessary before you set out to find big merchant deals.

Refine Your List

Start out by sorting your leads list by size. If you don’t know actual revenue per business, take a guess based on other triggers like employee number or industry type. The thinking is this: you’re going to be making the calls anyway, so why not focus your time on leads with the biggest deals to offer? The problem is, working larger deals take more time. You’ll need to make genuine connections with your merchants and focus on detail to make this approach work.

Improve Your Marketing Collateral

Now that you’ve sorted your list and you’re tackling the bigger deals first, you need to have something impressive to show merchants. The next step is improving your marketing materials. Take a look at your website, business cards, emails, and handouts. Langford suggests keeping your marketing language simple. “You don’t get more points on your website for having more words than the other guy,” he says. Tell the merchants prospect the specific problem your services provide a solution to, and keep it short and sweet.

Work on Your Quality Pitch

If refining your list and improving your marketing is preparing for the hunt, your sales pitch is the ‘shot’. Remember that any business needing $50,000 or more quickly most likely has a problem. They are facing a challenge and need that financing fast. The more you know about the company itself, the owner, the industry, and their local economic landscape, the better. Remember as an ISO in the MCA industry you provide a solution to the financial challenge the business is facing. Your service, the merchant cash advance, is their solution.

This clip and the full webinar it stems from are hosted by Mike Langford, CEO of finServ Marketing and a 23 year veteran of the financial services industry. Original air date for this webinar was Thursday May 25, 2017 at 2:00 PM. If you have any questions on our programs at Pearl or have ideas for topics of future webinars, please email [email protected] or call 1-800-888-9959 to speak with an ISO Relations Representative today.

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