Asset finance lead generation

[Jackrob]

I've recently started to work as SE finance broker, having been in financial services sales for over 25 years I'm finding it difficult to generate leads out with the intermediary market. I was wondering if anyone knows of any lead gen companies who sell these types of leads? Had a look but not come up with much. Thanks in advance

 

[Mark T Jones]

Having worked in asset finance for many years my advice would be to avoid paying for leads like the plague - 90% chance they will be crap that's been around the market

Whenever I'm approached by someone offering leads my immediate response (if I bother to respond) is to ask how they are defining 'leads'. That usually ends the conversation.

Focus instead on building a good base of connections in your target market.

 

[Jackrob]

Hi Mark,
Thanks for your response. I did dabble in lead purchase in other areas and I agree that the majority were not great but did get a few nice ones in there.
I'm finding building connects a bit slow ( maybe just used to things moving quicker).
Thanks for the advice, much appreciated

 

[Mark T Jones]

Are you working under an umbrella? If so they should be able to guide you on this.

I don't usually give advice to competitors, but one thing I would strongly suggest is that you find yourself a niche and stick with it, otherwise you will join about a thousand other brokers currently racing to the bottom by trying to offer everything to everyone

 

[fisicx]

I'm finding building connects a bit slow ( maybe just used to things moving quicker).

It can take years to build up a network of contacts. It’s certainly not going to happen in a few months. Are you a member of the local networking groups? Are you busy on LinkedIn? Is your Google business profile up to date? Is your website ranking well? Have you built up a reputation for being the go to guy?

 

[Mark T Jones]

It can take years to build up a network of contacts. It’s certainly not going to happen in a few months. Are you a member of the local networking groups? Are you busy on LinkedIn? Is your Google business profile up to date? Is your website ranking well? Have you built up a reputation for being the go to guy?

Arguably it takes for ever - but results can be surprisingly quick if you focus sufficiently.

 

[JEREMY HAWKE]

Arguably it takes for ever - but results can be surprisingly quick if you focus sufficiently.

It does take for ever to build or be part of a network building trust and a reputation but after a while they will come to you !

 

[Gordon - Commercial Finance]

Unfortunately there's no silver bullet in asset finance. I wish there was.....and trust me I've looked!

It takes time, it takes effort, it takes committment. If you approach your "networking" efforts for the sake of building relationships instead of touting for business, you will have a better time I reckon.

 

[Mark T Jones]

...and trust me I've looked!

You and every other broker out there!

 

[JEREMY HAWKE]

Im really glad to hear what you money boys have to say about gaining business in your industry . It is very reflective of what goes on here . With it being so easy to start a transport company with no expertise or qualification the competition can be a rough so you have to be able to sell why your the best .

The biggest surprise for me today @Gordon - Commercial Finance and @Mark T Jones have the same challenges and I genuinely thought that it was always easy for them !

 

[Mark T Jones]

Im really glad to hear what you money boys have to say about gaining business in your industry . It is very reflective of what goes on here . With it being so easy to start a transport company with no expertise or qualification the competition can be a rough so you have to be able to sell why your the best .

The biggest surprise for me today @Gordon - Commercial Finance and @Mark T Jones have the same challenges and I genuinely thought that it was always easy for them !

I recall back in the days when I financed heavy assets that a huge bugbear in the haulage industry was ex-service people (I was in Salisbury, so lots of them) who would buy a truck with their payoff and carve up the market on price.

It would last about 30 months max, until they realised that a free truck doesn't make a successful business.

But yes, I'd suggest there are no exceptions to this - You can offer a lot of things to a tight group or one thing to a wide group. But you can't offer everything to everyone.

Let the cheapskates go drown themselves.

 

[JEREMY HAWKE]

I recall back in the days when I financed heavy assets that a huge bugbear in the haulage industry was ex-service people (I was in Salisbury, so lots of them) who would buy a truck with their payoff and carve up the market on price.

It would last about 30 months max, until they realised that a free truck doesn't make a successful business.

But yes, I'd suggest there are no exceptions to this - You can offer a lot of things to a tight group or one thing to a wide group. But you can't offer everything to everyone.

Let the cheapskates go drown themselves.

Going off the topic but I lose count of the number of people that tell me they could run a courier company because they can drive a lorry . !

 

[Mark T Jones]

Going off the topic but I lose count of the number of people that tell me they could run a courier company because they can drive a lorry . !

Not dissimilar to the ones who can run a pub/restaurant because they know how to cook/pour beer/chat to people!

 

[Financial-Modeller]

This sector is all about building long-term relationships to become preferred supplier of repeat business / multiple transactions. With 25 years of experience OP, you know that you need to add value to the transaction from the client's perspective.

As suggested already, don't chase single asset transactions that will be dependent solely on price.

 

[Jackrob]

Hi Guys,
Makes a lot of sense!
I have joined business groups and I'm thinking of concentrating on a specific channel now.....