Why your MCA leads don’t pick up the phone

So, you’re probably asking yourself this question: why is my pickup rate on all the leads I’m getting so terrible? And the truth is, if you’re in MCA, you understand there are a few really simple reasons why your pickup rate could be low, and you just need to understand which one of them it is so you can go ahead and fix it. So in this video I’m going to show you the four reasons it could be happening, and the fix for all of them — the problem and the solution.

Now, just so you understand, this is all based off generating about a thousand leads a week right now. So we have a lot of data. We have a lot of data that we actually use on the CRM side of things for our clients, that they report back to us, so we can see: why is pickup rate low on this client? Why is pickup rate higher on this client? All these different things. So let’s get right into it and not waste any time.

Number one: the number was never real. I see this with a lot of people. They buy aged lead sheets, they buy UCC data, they buy $2 leads from random people on the internet, they buy from scummy lead vendors, all these different options, and they just were not verified phone numbers. Either they were completely fake, or it was a form that didn’t have a one-time passcode verification or a mobile-verified phone number checker. And that is extremely important. We will never run a campaign without that as the last step on the application. It should be an industry standard by now, but for some reason it isn’t.

The merchant types in their phone number, they get sent a code, and they have to type that code back in and submit it. What this gets rid of is any Google Voice numbers, any landlines, any voice over IP, any typos, any fake spam leads, any people who were just clicking through and filled out an application by accident. You will never have any of those if you are running this, and that’s why, on our return rate on leads, we very rarely have low pickup rate or phone numbers that are invalid. It barely happens, because of this. Now, be aware you’re going to have a higher cost per lead if you run this, but it is much, much more worth it.

So the problem is that you’re getting Google Voice, voice over IP — texts don’t land, the calls don’t really go through, there’s a bunch of AI blockers — and landlines to the company number. You do not want that. You want their mobile phone number, their iPhone, their Samsung, the phone they’re on 24/7, and that’s the only number you should be calling. Even if someone puts in the wrong digit — they don’t mean it, but if they put in the wrong digit, that’s getting transferred to you and now you can’t call them. So that’s a gone lead. Or it’s a number they just never plan on answering. With mobile verification, they have to have a mobile number on them, and most people have one phone number. So they’re either submitting the application or they’re not, and you don’t have to pay for that lead.

The fix, like I mentioned, is very simple. It’s just a six-digit code. You can set this up with Twilio. If they don’t submit it, they don’t get through, and you don’t get that lead. This is also really going to lower your spam rate. So if you’re getting spam leads through Facebook, through Google, through whatever, then instead of setting up a Captcha or increasing the friction, this is going to significantly lower your spam rate.

Now, if you’re looking for lead vendors to work with — not saying this about us, but in general — make sure that they’re doing this one-time verification. Make sure they send you some sort of proof that every lead actually goes through it, because it’s very easy to spoof. So that’s number one.

Number two is that their phone is already ringing. What a lot of times will happen is, if you’re buying from lead vendors that sell shared leads, and they share with like ten different brokers, or you buy a fresh shared list, the merchant is going to be bombarded with other brokers calling them. They’re literally going to be on the phone with another person while you’re trying to call them. Or maybe they’ve had ten calls this morning within the past two hours because their lead got sold, and they’re just not picking up. They’re tired of getting calls, because for the past two hours they’ve been bombarded by random phone numbers after submitting the application.

So there’s not much you can do about this. Obviously there are a few things, but at the end of the day this is a sales game. The problem here is that the merchant clicked four ads, or you’re buying from a lead source that shares leads. There’s not much you can do about that, truthfully. But what you can do to fix it and increase your odds is just stop buying from those forms.

Number two: their phone is already ringing — buzzing all day — because they filled out a form on Facebook, on Instagram, wherever, and they’re getting bombarded by lead vendors, because the lead vendor you’re buying from is sharing the lead. Or they filled out multiple applications online — multiple ads — and one of those is sharing leads. Not necessarily your lead vendor, but it is what it is. And this is what their phone looks like: tons of calls within the past two hours, everyone texting them, emailing them, and they just regret signing up for the ad in the first place.

So there’s not much you can really do, truthfully. We only sell exclusively, so we don’t have this problem too much with our clients. But then again, it does happen that a merchant signs up with our ad, and also signs up with another lead vendor’s ad, and that lead vendor shares with ten other people, and the lead isn’t as high quality anymore. So there’s not much you can do. At the end of the day, you can’t stop the merchant from filling out four different forms, or two different forms, whatever it is.

You can just try to be the first one on the call. Also, always send them a text: “Hey, it’s Marco from USA Business Funding, just want to give you a call about the inquiry you sent in. I know you’re probably getting a bunch of calls…” Send them a video, like a FaceTime video, whatever it is — just break through the noise. You can’t really do too much, though. And obviously the simple option is to just buy exclusive leads. But you know how that goes. So that’s number two, the problem and the solution.

Number three is that you called 14 hours later. This is a very common thing. I get on a lot of calls, and 90% of the brokerages I work with say, “We call right away.” Everyone says the moment you get me the lead, I call it right away. And then I ask them at the end of the month, or whatever the period is, “Can you export your data to show me how quick the actual speed to lead was?” And it’s never actually right away. It’s always two hours, three hours. I’ve had 14 hours. I’ve had the next day, even. And they’re complaining that the pickup rate is low. Well, it’s very apparent why the pickup rate is low: because you called 14 hours later. You called two hours later, even.

Every 30 minutes after the initial submission of the lead, the chance that you end up connecting with that person, let alone closing them, goes down significantly — dramatically. There’s even a case study by HubSpot. There was a case study by Harvard. All these different companies and organisations are doing case studies, because it just makes sense. You need to be calling these people within 60 seconds to five minutes, maximum. What else are you doing throughout the day? There’s nothing else you should be doing other than calling these leads. That is your only job as a representative.

So the problem: pickup rates drop 60% after 30 minutes, and they keep dropping after that. If you’re calling 14 hours in, six hours in, you’re calling a guy who doesn’t even remember opting in. “Oh yeah, yeah, I opted in earlier this morning while I was drinking my coffee” — he doesn’t even remember. And you’re not tracking your exact data to the minute.

The fix: a webhook straight to your URL. This is pretty basic, from whatever lead source you have. Try not to do Google Sheets. Google Sheets always have a longer time to lead, or speed to lead. It’s just how it is; there’s really nothing you can do about it. A CRM is always going to be the superior option. Make sure the rep is on the phone in under five minutes, and export it once a month. Truly export it. Don’t be afraid to look at your own data. Look at the data: the time to contact the lead first, the time to get the offer out, the time to get the application link in. All these different things you really need to see. It is purely an efficiency and speed game.

And number four, the last one: the reason most of the brokerages that complain about low pickup rates get low pickup rates is that they only called once, from a number the merchant has never seen. What the merchant actually sees is this random phone number. And I’m telling you, ask yourself right now: would you pick up this number? Maybe you would, because you deal with a lot of merchants and all these things, but if you’re a normal business owner of a landscaping company that does $50K a month in Louisiana, you’re not picking this up. You’re not going to pick this up.

That’s why it is super important to text them first. Just text them first: “Hey Mark, it’s Gary from XYZ Funding. You just filled out an application. I’m looking at it right now. Just giving you a call right now.” What that does is it puts a name on the phone. It literally puts a name on it when you’re calling — maybe Gary. And it also gives them a text beforehand, so maybe they’ll text you back: “Hey, I’m busy right now, I’m with a client, can you give me a call in 30 minutes?” That is how you get speed to lead, and that is how you close more deals up front. This is by far one of the more important things.

Now, the problem with this, like I mentioned, just to summarise: it’s a random phone number, and iPhone buries texts from unknown numbers. So whether you’re calling from a CRM or whatever, if the person has an iPhone — which the majority of them will — the text doesn’t always save you, but it does increase your chances. Also, if you just call them once, that’s like trying to chop down a big oak tree with one swing of an axe. It’s obviously not going to work. You have to hit it multiple times.

The fix is: text first, then call. Double dial them if they don’t pick up. FaceTime audio them to get past the spam filter. Have local presence — if you have more local, state-based phone numbers, that helps a lot. And obviously, call them within their time zone. Don’t call them in the middle of the night; they’re just going to get pissed off. What we recommend our clients do is four times a day for four days. Pretty simple. All the channels you can — text, email, phone call. And after that, you can slow down to once a day, whatever it is. Not to waste your time, but that can also be automated.

So those are the four things we see lowering response rates — the things that are usually responsible for low pickup rates. And it happens. Like I said, it’s one thing to have good leads. You can have good leads, you can have bad leads, but at the end of the day, if you’re not able to work the best leads in the world, you’re still not going to find deals, because even the best leads in the world still need good speed to lead, good follow-up, good systems. These are busy business owners. They have payroll, they have employees, they have broken fridges, they have broken tractor-trailers. These people have stuff going on. You need to be on top of it.

And that is what you should be telling your reps. So if you’re a sales manager or a brokerage owner and you know your reps are kind of slacking, the speed to lead isn’t there and your systems aren’t optimised: first of all, check out another video we have about setting up a CRM, and the features you will definitely benefit from. And also, export the data. Look at the data. Send them this video so they understand that what they are doing right now is not acceptable. If they want to be closing deals, if they want to be making the amount of money they want to be making, they have to be calling these people quicker, they have to be following up more, they have to be rigorous. That’s what it is. It is a rigorous sales industry. So that’s what I would recommend.

Now, if you enjoyed the video, if you got some value from it and you’re still watching, and you’re a brokerage owner, a marketing manager or a sales manager and you need more high-quality leads that are actually worth doing all of this for — calling them within five minutes, all this stuff — we sell a pay-per-qualified-lead program that is delivered straight into the CRM you have built out. HubSpot, Salesforce, Close, GoHighLevel, whatever it is, we have an integration with it. And every lead matches the following criteria: $30K monthly revenue, requesting $15K, six months in business, four months of bank statements available, US-based, and a mobile-verified phone number with that six-digit passcode, so it’s actually a good pickup rate. A verified email address — if it’s not verified, they can’t get through. And you get the state, the industry, the company name and all their contact info.

We basically have a bunch of marketing running right now. We generate close to 1,000 leads a week, and in real time, as we generate them, they’re sent to your CRM, and your reps get on them right away and try to find a deal. They’re $60 per qualified, exclusive, real-time lead. If that sounds interesting and you want to get started, book a call below. We’ll walk you through everything, we’ll get you set up, and we’ll send you your first lead within 12 hours. So, like I said, if you found value in this video, that’s great, I’m very happy. Implement it. Don’t just keep it in your brain. Implement it, take action on it, and we’ll talk soon. Thanks.