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Marketing Tip | Sample Deal | Weekly Survey
Program Advantage | Same-day Approvals
Dear Broker, here are your updates for this week...
M a r k e t i n g t i p
Local is the new global
Ten years ago, the Internet promised small businesses untold new revenue by easily tapping into the global market. Today, instead of global, the Internet and the revenue derived from it are becoming increasingly local. Only a couple years ago, an online search for "Italian restaurant" would have resulted in search results for eateries all over the globe. Today, Google searches your local area and even puts them on a map of your city.
The local Internet is gaining popularity because while some business happens on a global scale, many people still choose - out of necessity or preference - to deal with local companies. Of course you don't want more information about a restaurant two states away, but how about your personal insurance agent or financial advisor? Consuming information-related services does not require the consumer to share a geography with the provider, but it sure is nice. The fact is people like to deal with people who are similar to themselves; sharing a geography creates lots of similarities as well as conveniences.
What's a nationwide-broker to do with this information? Go local. And the easiest place to start is online. Just as the internet promised small businesses revenue growth from global markets, there is revenue to be found by "going local." The online advertising services of Google, Yahoo!, MSN and others allow you to target specific geographies with your keywords, ad text and bids. Marketers across the country have found that when you target your advertising message to a specific geography, your click-through rate increases. You can either earn more clicks with the same budget, or earn the same clicks with a smaller budget.
More information on localizing your online ads...
No matter where you are located, you should be speaking as precisely as possible to the audience receiving your message. If you are in California, the headline of your text ads targeted at Charlotte, North Carolina, could read "Equipment Financing for Charlotte." Spending the few minutes to set geographic preferences and tweak your ad copy will pay for itself over and over again.
Offline the same logic is (and always has been) true. If you make cold calls or send direct mail to vendors or end-users, incorporate their geography in the content of your message. Including geo-targeted messaging increases the recipient's perception of your legitimacy and increases their comfort level in doing business with you.
Now that you have geographic targeting enabled in your marketing, you can also begin to assess the amount of opportunity in different areas of the country. For instance, if your Google ads in Charlotte are working really well as compared to the rest, consider a direct-mail or cold-call campaign to the Charlotte area. Get a Charlotte phone number and take out an ad in the Charlotte yellow pages.
As with any new venture, it's best to walk before you run. Try targeting a couple areas and tracking the results over a few weeks. For instance, pick an urban area and a rural area. Once you have mastered how to geo-target your online and then offline marketing, roll out the formula to additional geographic areas.
Want more marketing tips? See more.
S a m p l e d e a l o f t h e w e e k
Adding a co-signer may make all the difference
SunBridge Capital averages the TransUnion FICO score of all the guarantors of the transaction. The transaction below, which funded last month, was originally declined due to low credit scores. It was later approved with aggressive terms once a strong co-signer was included:
Average TransUnion FICO: 673
Verified time-in-business: 34.5 years
Asset: 2004 Compactor
Amount financed: $62,431
Documents needed for credit decision: online application
Monthly payment: $1,316
Requested commission: 8.22 points = $5,129
Funding status: Booked
More information on SunBridge Capital's credit programs.
Want more sample structures? See more.
S t a t e o f t h e i n d u s t r y
How many of your vendors and lessees are within a 200-mile radius of your offices?
Vote now to see how you compare to your peers.
(If you are one of the first respondents, check back later to see more developed results. All responses are anonymous.)
P r o g r a m a d v a n t a g e
New information in SunBridge Capital's standard lease documents
SunBridge Capital has added instructional information to the contents of the lease documents. The lease documents now include specific information on how to complete the title, invoice and insurance certificate. The information in the lease documents is identical to that in our worksheets, which you can download at http://www.SunBridgeCapital.com/Downloads.
A i m i n g f o r t h e s a m e - d a y a p p r o v a l
Take advantage of the new Payoff Worksheet
For applicants acquiring equipment with a lien or applicants who are refinancing their equipment, SunBridge Capital requires a payoff letter from the financial institution. Now available is a Payoff Worksheet that describes the documentation and procedural requirements for these transactions.
Download the Payoff Worksheet at:
http://www.SunBridgeCapital.com/Downloads
Please note, SunBridge Capital only funds owners and lien holders of equipment. If the "seller" of the equipment is neither, we will not be able to fund the company. Often when the equipment that is being acquired is already under a lease, we are not able to fund the current lessee. Some equipment sold at auction is also not owned by the auction house. Please verify the owner of the equipment is the seller on the credit application submitted to SunBridge Capital. | 