FundingStrat

 

Rubin “Hurricane” Carter was at the height of his boxing career in the mid 1960’s, a top contender for the middleweight title.  His life changed dramatically almost overnight when he was wrongly accused of a terrible crime (triple homicide), which he did not commit.

 

He was unfortunately found guilty by a biased jury and sentenced to three life sentences. Although extremely painful, Carter committed himself to never give up the last thing he had control of: himself.

 

“I am not and never will be powerless” was the declaration he made on his first day in prison.

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When to use it?

 

After deploying the Utility Close and hitting resistance because the merchant is unsure of how he’ll put the funding to work.

 

What does it sound like?

 

“Once you get the funding in place and you get that (insert Key Business Outcome), what’s the impact on the business you’ll  drive?”

 

Ex:

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What does it sound like?

 

“We’re already working with someone else!”

 

Where does it typically tend to show up?

 

Prospecting Call, making contact with a lead for the first time.

 

What do we do with it?

 

Turn around.  Key Objective: to turn around the objection, engage the lead further, and continue to guide the lead through the sales process to ultimately close and fund!

 

How do we turn it around?

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Todd at deBanked has written another great piece about merchant relationships.

 

Important factors Todd found that drive positive long-term relationships are:

 

Pricing

 

User Experience

 

Speed

 

Efficiency

 

Trust

 

A survey on B2B sales conducted by Invesp resulted in some pretty interestingly related insights:

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“Will you be sending the docs soon?”

 

This weak question has been thrown around a lot by reps waiting on paperwork from merchants.

 

Applications

 

Banks

 

Contracts

 

Stips

 

These are all crucial tools we need to move merchants through the Sales Process and FUND.

 

To get merchants what they want, Funding Pros must to get docs completed and submitted at various points of the Sales Process to get the job done.  These are not optional requests.

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