How to Deal With Debt By Doing Business Marketing Smartly?

Published on: 04 June 2018 Last Updated on: 03 September 2024

Small businesses and startups often find it much easier to borrow the lion’s share of their capital. Finding an investor is never completely off the table, but it is not an easy task to do. It is much easier to find lending organizations, who are ready to test out the abilities of the new entrepreneurs to multiply their monies.

Very soon, a time arises when the creditors expect at least a part of their invested money back. Now, this is a time most entrepreneurs know will come, but none are ready to face. It is almost always “too early” or “too sudden.”

Online marking, when you are already in massive debt?

Gaining momentum for a new business not only takes time and effort, but it also takes some serious marketing skills. By marketing, we do not mean TVCs, hoardings, and pamphlets. Those are ancient forms of advertising that no one even notices anymore. If you are in such a situation, what you need is a stable dose of online marketing that will make you visible to your target audience.

Here comes the biggest conundrum in the world. When a business is already nose-deep in debt, can it afford to plunge further in by going in for online marketing? That entirely depends on your perspective of online marketing. Your contenders and contemporaries may think online marketing to be an added expense, but you know what almost 71% of the US population is already online and looking for businesses like you. So, would you deem online marketing as an added expense or a smart investment?

You need a website first :

website

The first step of online marketing is getting your own presence established online. It means an excellent site. By nice, we mean something that’s functional, professional, SEO optimized, and capable of attracting and converting traffic. It should represent your selling theme, services, and products perfectly.

Building a website is no easy feat. You may have the enthusiasm to build a website from scratch, but not all entrepreneurs can have the coding skills and analytical skills needed to construct a working business website. Building a website from scratch can take up a lot of time, and it takes a lot of algorithms to perfect the buying and payment process. Either you can opt for DIY website builders like WordPress or Joomla, or you can surely approach a professional website builder.

A professional website builder will again cost you a few bucks. If you are thinking of building a PHP based website from scratch, it will also take considerable amounts of time. Now, this is not going to be cheap for your business. Therefore, it is not uncommon for entrepreneurs to wonder if going for online marketing is the best way to a debt solution.

The inspiration you need :

So, let us tell you a real-life success story. Initially a nobody, Rank Fishkin started out with his own tech startup and went plummeting into a $500,000 personal debt. From there he is now the owner of the world’s largest SEO, social media, and content marketing website Moz that is netting about $40 million in revenue for the last seven years. That is a success story better than any fairy tale you will ever hear. Was it easy? Did it involve magic spells? No! It required endless hours of smart digital marketing strategies and intelligent investment moves.

The moral of the story is: just because you are nose deep in debt, does not mean you can invest in something new. Digital marketing and social media marketing are the new ways to reintroduce your brand to a new world of potential buyers. People are waiting out there right now to hear from you about your products and services.

How to find them?

Finding the right people at the right time is the only “magic” you need to perform. You will need a few social media listening tools like HootSuite, Buffer, and Social Sprout. These offer a few free services. Their premium services cost less than a Grande. Of course, you will need to work on your social media account before you start listening to what people are saying about your brand online! So get started. Create a professional Facebook page, Twitter account, and at least an Instagram page. You need to post daily. Sometimes twice a day. Engage in regular conversations with your customers. Stay visible and exciting.

If you ever run out of original content, do not shy away from asking your followers for some. Do it tactfully. Introduce new photo contests, quizzes, and polls with attractive rewards. That is the way to create user-generated content. It is the most efficient way to keep your page and wall filled with meaningful content every minute of staying online.

Investing is not the problem, not spending in the right places is :

Online marketing is an investment in every way possible. It is like putting a bait to catch the bigger fish. Using the right keywords in your product descriptions, doctoring your URL to suit the liking of the bots, and including image tags to become visible during Google image searches are all parts of that investment. Still, you may want to consult your personal financial advisor before you take the plunge. You need to be in touch with your financial reality before you can make new investments. Your financial advisor or your debt counselor should help you in understanding the debt program’s details. Your current debt program may have reservations about making new investments or certain kinds of investments unless you pay off a certain fraction of the amount you have borrowed.

Most businesses end up in a fiscal dead-end due to ignorance and bad decision-making, rather than investing in new marketing. We have seen companies drown because they were not adventurous enough and they have always played safe. In 2017, online marketing is not a luxury or an option. It is a compulsion you need to embrace before your competitors take away all your potential clients. Making yourself more visible on the internet will get you more sales and profit. It will help you make more money and pay off your debts faster than usual.

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Strategies for Running a Pet Supply Ecommerce Store

In the past few decades, there have been major changes in the world and our digital surroundings. While the geopolitics and social interactions of the world are in constant flux, since the beginning of the 21st century, there have been other types of changes that have occurred. Most of these alterations have come from the rise of Internet technologies around the globe. The web has totally revolutionized the world, from the way people interact with one another to the changes in the job market. The most important driver of the economy in the 21st century is the Internet! Everything from local businesses to billion-dollar corporations uses web-based tech to survive. One part of the economy that the Internet has totally transformed is retail. Retail has in large part shifted to e-commerce, and people from around the world have been starting their own e-commerce stores. Starting Your Own Ecommerce Store There are numerous reasons why people start their own e-commerce stores, from the flexibility of lifestyle it provides to the potential to have a lucrative business. There is a myriad of products, which can be sold online. However, finding a niche in your products is a sure way to be successful. This is why running a pet supply eCommerce store is such a great idea. People love their pets and pay serious money for them, so pet supplies is an excellent niche that will certainly lead your company to earn immense revenue. However, if you want to be truly successful, you need to see that your organization will stand out amongst all the other e-commerce stores. Learning How to Set Up Your Business Once you decide to get a website for your online store, one of the first steps is to invest in a robust and user-friendly e-commerce website. This involves selecting a platform, which will allow your website to look professional, run effectively, and will enable you to organize your products and services. After your site has been launched, the next step should involve designing and executing a strong Marketing Campaign on various digital platforms. You need to ensure that your E-commerce store highlights the hero products of your brand. For example, if you have an extensive range of liver supplements for dogs, you need to ensure that you are placing these medicines on the banner of your E-commerce store page. This will help customers identify the same and click on the page that will take them directly to checkout. The marketing campaign should aim to create a holistic and 360-degree digital ecosystem. This ecosystem should reinforce the belief and experiences of the users. For example, your e-commerce platform should be linked to your social profiles and vice-versa. This will help redirect traffic from different mediums at all times. You would also want to adopt a creative content marketing strategy. Your e-commerce website needs to be- SEO optimized. Linked to Social Media Accounts Have a great blog section (Inbound Marketing) Be optimized to run Google Campaigns. Learning about these numerous facets will allow you to effectively market your e-commerce site and will let you display your brand to the world. Final Thoughts: As the 21st century continues to progress, running an e-commerce store will become a more popular career option. In order to be successful in this industry, you need to set up an excellent site, and effectively build your brand with a quality marketing campaign. Read Also: Recognizing How Important Inventory Management Is To Your Ecommerce Store Magento Vs. Shopify: Which Is Best For Your E-Commerce Store?

Why A Business Should Use Facebook Remarketing

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Why every Business Holder should Start Using the Drip Marketing?

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How to Deal With Debt By Doing Business Marketing Smartly?