To Sell or Not To Sell
There is no doubt about it, sales are the lifeblood of every business. Many experts say if you find your business is struggling, focus on sales, and everything else will start falling into place. In fact, around 80% of businesses fail because of poor cash flow.
Thus enters the chicken and the egg problem for many small businesses in today’s market: in order to make sales you need money, but to get the money you need to make sales. Marketing funding may be the answer to boost your business cash flow. Financing inventory or financing a loan for marketing campaigns could be exactly what your business needs in order to bring its cash flow to the next level. Here are the top reasons to get funding for your marketing or inventory financing.
Why Marketing Funding Makes Sense and Earns Dollars
Online marketing is the name of the game right now for business. It doesn’t matter if you are local or national (or international). It doesn’t matter if you sell products or services. Online marketing is a must for every business. Here are three of the smartest ways to use marketing funding loans to grow your business:
Increase Visibility via Paid Advertisements: Between Google PPC, Facebook, Instagram, LinkedIn, and even Reddit or Quora, there is virtually an unlimited number of people you can serve ads to online. However, targeting and frequency are important. By their nature, PPC (Pay Per Click) campaigns cost money. Small business loans come in handy here because they allow you to market your products or services via PPC campaigns and bring in revenue before you have the cash to do so on your own. Remember though, it is important to plan out a great PPC and funnel strategy well in advance. Getting a loan and then throwing money at a wall to see what sticks is . . . well, a waste of money. Make sure you have efficient marketing strategies in place to both capture leads, convert leads, and gather referrals or repeat business. This will ensure you get the most ROI from your marketing funding. Eventually, your marketing spend should fund itself. Always pay attention to your ROAS (Return On Advertising Spend) to ensure each lead you generate is profitable.
Increase Web Content (and Google Indexing Visibility): One of the most important aspects of online marketing is SEO (search engine optimization). SEO is considered organic traffic because you don’t have to pay Google (or any other search engine) when someone clicks on your site. In order to increase organic visibility on Google, it is important to pump out consistent and relevant content on your website. This will help people find your products or services quickly and efficiently. Many businesses struggle to consistently pump out great content for their website. Because of the nature of how many aspects of business there are, this is pretty normal. Using marketing funding to hire out web content is a great way to increase your business exposure and revenue.
Invest In Tracking Software: One of the greatest tragedies of marketing is when businesses don’t track the numbers. This is especially true of online marketing. Invest in software and systems that allow your business to track the number of visitors to your website. The best in class software will even allow you to track how long a visitor stayed, which pages they spent the most time on, and will even allow you to re-target that customer using pixels. If you aren’t currently tracking this data, chances are you are missing out on a significant number of leads and sales.
While there are many other opportunities for using marketing funding, both online and offline, these are three of the most important online actions your business can take to increase its bottom line. As you get ready to finance your business, be sure to have a plan in place for how the money will be spent. Remember, a business takes work and thoughtful planning. The more effort and energy you put into it, the more you will get out of it.