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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Best Marketing Strategies For Lawyers In Houston

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6 Steps to make Your Trade Show a Success

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7 Proven Marketing Tactics to Increase your ROI in 2018

The digital marketing landscape has become more diversified than ever in 2018 because consumers are generating their own content and marketers are searching for more ways to create product awareness and interest. Since the digital space is highly competitive, marketers are ready to do whatever they can for gaining a competitive advantage. However, instead of dipping your hand in all the pies, it is best if you use marketing strategies that are bound to increase your ROI in the form of more leads, higher traffic, increased conversion, and sales. In a nutshell, you want to use tactics that add something to your bottom line. Listed below are 7 of those marketing tactics that do exactly that and can be used to boost profits in 2018: Tactic 1: Instagram Ads After Facebook, Instagram has become the newest force in social media. Just like Facebook Sponsored Posts and Twitter’s Promoted Tweets have given results, Instagram Ads can also be immensely powerful. They are like digital chameleons because they are able to blend in with the audience’s feed for increasing awareness and driving traffic to your website. While the demographics of the social network is similar to that of Facebook, Instagram has distinguished itself with a greater level of engagement and creativity and gives you exposure to the right audience. Tactic 2: Reviews The online reputation of a business can be hugely influenced by customer reviews. Businesses with no reviews, no recent reviews or with negative ones are at a significant disadvantage as opposed to their competition. As a matter of fact, more than 80% of people have stated that their buying decisions are influenced by negative customer reviews. Thus, it is essential for every business to get positive customer reviews and should also respond to them in a timely manner. Positive reviews can be showcased on the website and on social media and negative reviews can be addressed before they go viral. Improving the customer review score boosts SEO ranking and improves online reputation. The best way to get reviews from your customers is by contacting them directly. By using a tool called GMass, you can email all of your customers at one time asking them to write a review of their experience. They would be more likely to write a review if they are already online checking their emails than having to remember to write one after they got home from their shopping trip. Tactic 3: Evergreen Content This is content that stays relevant and interesting for a long time, regardless of any cultural change. This can include industry resources, tutorials, tips, and product reviews. While this usually refers to white papers and blog content, evergreen content can also be used for video content, infographics, and email marketing. Tactic 4: Crowdsourced Content Yes, the statement ‘content is king’ might be getting old, but it remains true still. Content remains very powerful in today’s competitive market and can turn the tide for a business. The problem is that turning out heaps of creative and useful content requires lots of resources and time. Therefore, it is not surprising to see a new trend emerge; businesses have begun to collaborate and crowdsource because this allows them to get access to meaningful and relevant content. By soliciting ideas from others, a business is able to get the best quality content and save a ton of its valuable time without making any compromises on quality. With crowdsourcing, you leave the idea and word generation to someone else, mostly in your industry. This enables a business to get insights it may not have come up on its own. Also, using this content allows you to reach a greater audience because the ones who created the content will also share it out. 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Also, the featured content can be an eBook, white paper or anything else, but it has to be valuable enough for people to give their contact info. Using these 7 proven marketing tactics will help a business in increasing its ROI in 2018 effectively. Read also: Building a Brand for Your Small Business Avoid these 5 Mistakes before Starting an SEO Influence Marketing Tool to Move from Local to Global Market How to Write and Design an Article that Attracts New Customers to Your Business

How to Deal With Debt By Doing Business Marketing Smartly?