Small businesses face many challenges. Yet most business owners say locating funding is their biggest one.1 The most common ways merchants deploy working capital are for inventory, marketing, hiring, paying their staff, and expansion or remodeling. Despite heavy competition from many different types of lenders, many small-business owners aren’t fully aware of the range of products or providers available or where to find them. Banks and lenders looking to lend money to small businesses need to be proactive to find success. To maximize their reach in this space, lenders should look to combine lead acquisition, demand generation marketing, and precision targeting and segmentation.
The first component to a successful campaign is using the highest quality first- and third-party data to ensure you aren’t wasting time and money on prospects that are risky or not appropriate for your business. Once the right data sources and targeting are applied, these campaign lists should be combined with direct mail creative tailored for small businesses. Direct mail provides a strong foundation and the broadest reach as many data sources have incomplete, inaccurate, or unreliable data for small business contacts. Deluxe can help with this, whether it is supplying you with the most complete and accurate data or a premier, end-to-end campaign that includes data management, modeling, fulfillment and performance tracking and optimization.
