Comparing Closings | OwnersPath

The Strategy For Being Successful With Our Private Is Recruiting Referral Partners

Here we are going to do a side by side comparison of the typical closing percentages between business prequalification scans generated using the usual Mass Marketing efforts and those generated by recruiting referral partners to refer their business prospects and clients to your private label.

Using Mass Marketing

When you generate small business prequalification scans using the normal mass marketing methods, such as; Google, Facebook, LinkedIn, TikTok, X, Youtube, etc., the bulk of what you will get are scans that have:

Too many recent inquiries
Too many existing loans
Too many maxed out credit cards
Already applied too many places
Believe they don't have to sign personally
Think that business credit can replace personal
Poor quality prospects where few get to closing

With Mass Marketing the Closings go like:

For every 100 completed scans
An average of 20% will pre-qualify
Of the 20 that pre-qualify 25% will apply
Of the 5 that apply less than 1% will fund
It can take you over 50 applicants to fund 1
The funded amounts tend to be smaller
Therefore your 40% commission is smaller

Recruiting Referral Partners

When you generate small business prequalification scans using referral partner marketing, such as recruiting; accounting firms, insurance agents, commercial real estate agents you will get scans that have:

Owners of real businesses
Owners not desperate for funding
Existing revenue to support the debt
Realistic expectations about the loans
A desire to become bankable to succeed
A level of trust in you by being referred
A willingness to see it through to closing

With Referral Partners the Closings go like:

For every 100 completed scans
An average of 60% will pre-qualify
Of the 60 that pre-qualify 50% will apply
Of the 30 that apply as high as 20% will fund
You generated 6 business funding closings.
The funded amounts tend to be larger
Therefore your 40% commissions are larger

The OwnersPath private label system provides you with the resources to locate, market to, recruit and close referral partners that can generate for you very high quality prequalification scans from real existing businesses where their owners have a level of built in trust in you due to being referred. The owners also have a strong desire and drive to succeed of which becoming bankable plays a huge part.

Recruiting referral partners requires that when you become an OwnersPath private label you spend the time needed to become an industry expert so that you have the knowledge to impress and close those referral partner prospects. Inside the OwnersPath private label system is an extensive amount of training content and educational videos to help you become an expert in a short period of time.

Closing referral partners normally requires one on one personal communication once the lead generation has done its job. Therefore, if you are afraid of the phones or shy away from one on one personal or group presentations, then an OwnersPath private label is probably not for you. But if you are outgoing and love talking to people one on one or in groups, then an OwnersPath private is most likely perfect for you.