Before discussing aged merchant cash advance leads, let us recall what a merchant cash advance is. It is a type of financing service that allows businesses to access quick funds in exchange for a percentage of their future card sales. The repayment is deducted either daily or weekly. The total payable amount includes a fee (called the factor rate) in addition to the original amount lent.
The institutions offering this service are known as MCA providers or lenders. These may include independent finance companies, alternative lenders, and occasionally banks.
What Are Aged Merchant Cash Advance Leads?
Aged MCA leads refer to prospects who had previously shown interest in acquiring a merchant cash advance but didn’t make it to the end of the sales funnel. These are the businesses that were previously interested in or applied for an MCA but, for any reason, were not able to complete the process and receive funding.
Some may have dropped out before becoming an SQL (Sales Qualified Lead) or even before becoming an MQL (Marketing Qualified Lead).
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Where Are Aged MCA Leads in the Sales Funnel?
The lead generation process is often visualised as a funnel; wider at the start and narrower toward the end. Typically, aged MCA leads have already made it through the top of the funnel (TOFU), since they are familiar with the service. Most of them are positioned in the middle of the funnel (MOFU).
This means these prospects have already provided basic details such as their:
- Email
- Contact number
- Business name
- Basic funding requirements
That’s why they’re called “aged”, meaning they’ve previously interacted with a lead generation campaign but never converted.
Common challenges of aged MCA leads
Prospects of aged MCA leads are already familiar with what it is and how it works. This familiarity can be both beneficial and tricky for MCA providers. The actual challenge lies in figuring out how to deal with aged MCA leads effectively.
- Some leads might have dropped out involuntarily because they didn’t qualify, wanted a higher percentage of funding, or had availed the service earlier and are now seeking a new provider. When your service reaches them, you can approach these prospects with attractive features that suit their business needs.
- However, some leads might no longer require MCA, couldn’t find a reliable provider, or decided the service wasn’t suitable for them. Re-engaging such prospects can be difficult.
This is the main task at hand: to identify which leads are at which stage of their buying process and approach each type with relevant strategies.
In this blog, we’ll explore lead generation and re-engagement strategies to help you streamline your aged MCA leads and directly connect with qualified prospects.
Strategies to Approach Aged MCA Leads
| Strategy | Main Point |
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Differentiate leads by geographic location |
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Differentiate leads by credit score |
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Cold calling |
Re-engage prospects through direct personal interaction. |
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Content marketing |
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Social media retargeting |
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Pay-per-click (PPC) |
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Let’s now explore the major strategies that you can implement to attract, classify, and re-engage aged MCA leads effectively.
1. Differentiate leads by geographic location
The best approach to classify the lead generation process is to target businesses based on their location. That is because different parts of the UK might have distinct merchant funding regulations or local business practices. When you adapt your outreach to these regional factors, your service appears more reliable, professional, and aligned with specific market needs.
2. Differentiate leads by credit score
Merchant cash advances don’t rely heavily on credit scores. The factor rate (the additional fee payable on top of the funds lent) depends on a business’s sales history and financial stability. Still, you can also classify aged MCA leads by their credit scores, which gives you information about their financial history and potential funding requirements.
Here’s a quick breakdown of how leads can be classified based on their credit scores:
- Higher credit score: Businesses with such a credit score likely seek competitive factor rates and higher advance percentages.
- Medium credit score: Such businesses might prefer stable, long-term contracts with industry-competitive terms.
- Lower credit score: Businesses with a low credit score prioritise accessibility and seek providers that can accommodate them, even with poor credit. If you cater to any of these categories, classifying leads early helps you focus on the ones most worthwhile to pursue.
3. Cold calling
Cold calling is a direct approach with which merchant cash advance providers can interact with the leads over a call. This personal interaction is important to analyse the prospect’s current situation and business needs. After taking into account their unique circumstances, it is time to propose the MCA solution from a fresh perspective. This way, they can be re-engaged with a solution that may not have been available when they first interacted.
4. Content marketing
Content marketing on a website is the most common channel for B2B lead generation. MCA providers create and share valuable content that offers a solution to a problem most commonly faced by their clientele. This content could be blog posts, case studies, or checklists to educate and build trust. Here are some important factors to keep in mind when posting content:
- Your content should contain the relevant keywords and queries that people in your customer base commonly search for on search engines.
- Your content should be SEO optimised, with meta headings, proper sections, images and original writing.
- Content should be consistently posted to build a database over time.
5. Social media retargeting
This strategy keeps your brand visible to businesses that have previously shown interest in your services. Even a website visit without engaging with any lead magnet can still indicate a level of interest. You can follow up with such prospects by showing targeted ads on platforms like:
- Linkeldin
- Youtube
- Google ads
This way, you can remind them of your services and present new offers to re-engage them.
6. Pay-per-click
Pay-per-click campaigns can be highly targeted to reach businesses which are actively searching for funding solutions. For aged MCA leads, you can use relevant keywords like “second chance MCA”, “alternative business funding” to directly attract those who may have previously dropped out of the process at any point in the sales funnel.
Like social media marketing, PPC campaigns can also be run on any social media and search engine platforms like Google, Meta, Facebook, YouTube, Instagram, LinkedIn or Reddit.
Who Are Aged MCA Leads For?
Merchant cash advances are different from traditional loans because they do not qualify as a liability and are instead considered selling future assets (sales revenue). That is why MCAs are specifically important for certain types of organisations in the funding sector who are familiar with their unique nature. Aged MCA leads are valuable for:
- MCA providers: Aged MCA leads are highly suitable for MCA providers who aim to expand their customer base and increase their conversion efficiency. These leads consist of a pipeline of businesses that are already familiar with the funding product, so providers can solely focus on closing the deals.
- Independent financial institutions: They can also benefit significantly from this approach to provide non-traditional finance solutions in addition to traditional bank loans and provide a variety of services.
- MCA brokers: They do not directly provide financial services but connect potential clients with MCA providers. A broker can use aged MCA leads to reactivate their interest as a reliable advisor that the businesses may have been missing.
Types of Aged MCA Leads
Let us now discuss the two main types of MCA leads. This helps classify the leads, recognise the unique needs of businesses belonging to each type and provide relevant solutions accordingly.
Time-specific aged MCA leads
Aged leads are often classified based on how long ago they engaged with your MCA offer. The lesser the ageing period, the higher the chances of success, but outcomes differ for each lead. Common categories include:
- 30-day leads: These have the highest chance of conversion due to recent interaction with your lead generation process. These are also more expensive to acquire.
- 60-day leads: These have a moderate difficulty in re-engaging with your lead generation process. Such leads can still be converted with consistent and relevant efforts.
- 90-day leads: These require the most effort to re-engage because of the long inactivity period, meaning that they last interacted with or showed interest in an MCA service almost 3 months ago.
Industry-specific aged MCA leads
Certain business industries are more likely to require merchant cash advances repeatedly, especially those that operate throughout the year. Some of these are:
- Food and beverage sector: Restaurants and cafes. These businesses regularly face cash flow fluctuations and need urgent cash capital to cover unexpected and seasonal expenses. MCA doesn’t restrict spending, so businesses can cover any type of expense, like buying inventory, repairing equipment, etc.
- Hospitality industry: Hotels, motels, and service-based lodging businesses. This sector requires constant capital for renovations, staffing during peak times and marketing campaigns to maintain competition.
- Tech industry: MCA offers access to rapid capital to companies with high R&D expenses, product development costs, and niche marketing needs without lengthy approval processes like those in bank loans.
- Manufacturing sector: They need ongoing funding for operations and supplies. Manufacturers need an advance payment to purchase raw materials in bulk and cover large costs before even getting paid by their customers.
Benefits of Aged MCA Leads
Focusing on aged merchant cash advance leads can improve your return on investment and overall sales process because of the following advantages:
Cost-effectiveness
One of the major benefits of aged MCA leads is that they are generally far cheaper to acquire than fresh leads. When you have a lower cost per lead, it automatically reduces your customer acquisition cost. It allows you to distribute your marketing budget more efficiently and target a higher volume of potential customers.
Capitalise on prior interest
Aged MCA leads had already shown an active interest in merchant cash advances. This means you can shorten your sales cycle and speed up the sales funnel process.
Less competition
Many providers focus only on the highly competitive fresh leads market. By focusing on aged leads, you can operate with less competition and streamline your presence in the market. If done smartly, you can navigate an audience that is mostly overlooked by others.
Gather and Convert Quality Aged MCA Leads with ProInteractive
As a merchant cash advance provider, you play an important role in the financing industry by offering working capital to UK businesses. However, approaching and converting aged MCA leads can be challenging, especially when they are 30 days or older.
ProInteractive simplifies this process by directly connecting you with decision-makers seeking funding solutions. We filter out unqualified prospects and focus only on businesses that match your services, so you spend less time chasing cold leads and more time closing deals.
Register today and start turning aged, qualified leads into predictable growth!
FAQs
Aged MCA leads are prospects who previously showed interest in a merchant cash advance but didn’t complete the process or receive funding. They may have dropped out before becoming marketing- or sales-qualified leads.
Aged MCA leads are cost-effective to acquire, have already shown interest in funding, and face less competition than fresh leads. This allows providers to shorten their sales cycle and improve ROI.
