Closing the Deal in a Merchant-Market

The MCA space is saturated with brokers, funders, and business owners seeking capital. Competition is endless as brokers and telemarketers call thousands of leads a day hoping for a nibble, or to at least peak a merchant's interest. Even when you think you have a hot lead, you're always at risk of another broker calling your merchant, offering them a million bucks tomorrow and poof! You never hear from your merchant again. So, as a broker, how do you set yourself apart? How do you close a deal in a merchant market?

For starters, not having the standard pitch is a step in the right direction. Instead of reading from a script, strive to thoroughly understand your industry and your craft. Adopt a consultative approach, and convey your expertise and confidence to your client. But what if you're not an expert broker yet? What if you're relatively new to the industry? How do you get the person on the other end of the line to trust your message?

Set industry-expertise aside for a moment and consider your interactions with clients from a psychological standpoint. Beyond being equipped with a standard base of industry knowledge, the best approach you can implement is to be armed with genuine interest and concern. In short: Care. Your message will be much more well-received when clients hear sincerity in your voice-- and chances are they'll want the deal even more.

Categories: Resources for Brokers

Comments

I love this. It is so true. Emotional Intelligence and empathy is the glue of human relations.

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