Factoring Blog from Factoring Partners
6th May 2016
A week with two trips to Birmingham and a Bank Holiday means Friday has come round quicker than expected.
This week has seen Factoring Partners first attempt to crack the world of adwords on internet search engines and we await a flood of enquiries. Since the 1st May (up to today, 6th May 2016) my ad has appeared on the first page when the word ‘factoring’ has been searched 554 times. I have had a grand total of 5 clicks on the ad.
Its early days in the campaign so we will see how it unfolds and I’m confident my DIY approach to web advertising is far from perfect, All I’ve learnt so far is that search engines must be extraordinary cash generating machines.
Two trips to the second city to hear from two bank subsidiaries and their invoice finance offerings. There can often be a large gap between what the banks say and what they actually do and this has been highlighted this week with a personal experience at the hands of one of the UK’s major banking groups.
It’s been very easy to bash the banks over the last 10 years or so and its difficult and largely inappropriate to label a sizeable, mainly functional, organisation, inadequate on the back of a single experience, but that’s the way recent dealings leave me.
Within the invoice finance world the vast majority of clients use their bank for whichever format of invoice finance adopted and I suspect many enter into agreements without ever considering the independent alternatives.
The banks do not always present the best option to their customers so its imperative prospective users of invoice finance clients talk to alternatives. If nothing else it serves to benchmark the bank offering against the market as a whole.
As independent brokers we serve both the banks (to whom we have referred work) and the independent sector.