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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How to find the best products to sell on Amazon and some examples

What can you sell online? It is obvious, that you can sell anything online. But here, selling online means to sell a product with a decent profit margin. To become a successful Amazon seller you need to find the right product that has high demand; low competition; and many other characteristics. Once you select a product that has all these characteristics, you can see a decent profit selling them. In this article, some of the ways of finding the best products to sell on Amazon are explained along with some examples. Table of Contents Finding the best product Manual methods of product research Automated methods of product research Popular and profitable products on Amazon 1. Finding the best product There are many ways by which you can find a profitable product to sell. This process of analyzing the current trends in the market and ending up with a good product is known as product research. Product research can be done in two ways namely manual product research and automated product research. These processes are explained below. 2. Manual Product Research This is the process of analyzing the current trends in the market manually through various strategies as follows. Checking Amazon’s bestsellers list – Amazon has its own listings of thousands of products as bestsellers categorized based on their niches. You can just go to this list and check what are all the niches and products that sell well. You can also go through those product listings to find out the special features and characteristics of a product that attracts more customers. The product reviews under each bestselling product will be the bible for you to shape your own product. If you just look at the bestseller list, you will get to see the products with high competition. So, you can go through the sub-categories to find more specific products with high demand and low competition. You can get excellent product ideas from this. Pinterest – Pinterest acts as a great platform for finding different product ideas. It may seem like a social media platform like Pinterest cannot help in developing product ideas. But it is very helpful in finding new products since millions of people are searching and uploading millions of pictures almost in all niches. You can just search your keyword and get thousands of product images to develop an idea from. Contacting your suppliers - If you have traded on Amazon already or you have a product supplier with you, you can get much information on the current trends in your niche. He will provide details about the movement of specific goods and products in that niche. This may help you in developing a product idea that actually sells. Spying on Competitors – Although it sounds like illegal activity, it is legal in terms of an online marketplace. You can look at the strategies used by your competitors; the keywords used by them; their customer service; and many more. You should not try to copy the exact strategies of your competitors since you may not have the same reach and capabilities of your giant competitors. Lookout for bestselling products on eBay – You can get product ideas by looking at the trending products on other e-commerce sites like eBay. 3. Automated methods of Product Research This includes the same processes of keyword research, competitor analysis, monthly search volume calculation, etc. But all the processes are automated using various free and paid tools available online. An example of automated product research is the use of Google trends. It helps to notify you of all the recent trends in the market along with various numbers and statistics. 4. Popular and profitable products on Amazon Some products are there known as evergreen products that will definitely make more money. These are the products with low cost of production; high demand; and high-profit margin. Some of these evergreen products are listed below. Books – Books are always a great product to sell online. Since the online market place is like an open library and the product is delivered directly to the residence of the customer, books are always high on sales. You can easily get books in bulk from any publishers and sell them online at your own price with a profit margin. Accessories and apparels – Although this category is oversaturated with millions of sellers providing the same cosmetics; jewelry; clothes; and accessories, this niche is always evergreen. It is because of the everlasting need for apparel and accessories in modern society. Toys and Games – Surprisingly, this niche is also one of the bestselling categories in the whole market place. Baby products and toys for both children as well as adults are another evergreen choice to be successful. Electronics – Although it is an evergreen niche, only authorized brands will dominate this niche. Read Also: Beginners Guide: How You Can Grow Your Biz With Amazon Your Review of Amazon’s FBA Wholesale Marketing Course

Franchise Digital Marketing: 4 Effective Techniques

Marketing is the backbone of every business. Whether you are a small business owner or a franchise owner, marketing is something that you cannot ignore. However, when it comes to franchises, marketing can be a tough nut to crack. As a franchise owner, you have multiple stakeholders to consider, and you need to maintain a consistent brand image across all your locations. However, with the advent of digital marketing, things have become a lot easier. In this article, we are going to discuss 4 franchise digital marketing tactics that can help you grow your business. 4 Franchise Digital Marketing Tools Let’s take a look at 4 common digital marketing tactics you can try out for your franchised business. 1. Search Engine Optimization (SEO) Search Engine Optimization or SEO is one of the most effective digital marketing tactics that can help your franchise business. SEO helps your website rank higher in search engine results pages (SERP), which drives more traffic to your website. When it comes to franchises, SEO is essential to ensure that all your locations appear in local searches. Local SEO helps businesses appear in Google’s Map Pack, which is an organic search result that displays local businesses in a specific area. By implementing local SEO tactics such as claiming your Google My Business (GMB) listing, optimizing your website for local keywords, and building local citations, you can improve your search engine rankings and attract more customers to your franchise locations. 2. Pay-Per-Click (PPC) Advertising Pay-per-click advertising is a digital advertising model that allows businesses to pay for ad placements on search engine results pages (SERP), social media platforms, or other websites. PPC advertising can be a great way to increase brand awareness and drive traffic to your franchise website. However, when it comes to franchises, it is essential to ensure that all your ads are consistent with your brand guidelines. By creating a centralized ad campaign that can be modified and localized for each franchise location, you can maintain a consistent brand image across your entire franchise network. 3. Social Media Marketing Social media marketing is a great way to connect with your audience and build brand awareness. Platforms such as Facebook, Twitter, and Instagram can help you reach potential customers and engage with your existing audience. When it comes to franchises, social media marketing can help you maintain a consistent brand image across all your locations. By creating a centralized social media strategy and providing localized content to each franchise location, you can ensure that all your social media accounts are consistent with your brand guidelines. 4. Email Marketing Email marketing is one of the most cost-effective digital marketing tactics available. By building an email list of your existing customers, you can keep them informed about your latest offers, promotions, and events. When it comes to franchises, email marketing can be a great way to stay in touch with your customers across all your locations. By creating a centralized email marketing campaign and providing localized content for each franchise location, you can ensure that all your email marketing campaigns are consistent with your brand guidelines. Implement Digital Marketing Techniques to Drive Online Traffic to Your Franchise When it comes to franchises, digital marketing can be a powerful tool to drive growth and maintain a consistent brand image across all your locations. By implementing these digital marketing tactics, you can improve your search engine rankings, increase brand awareness, connect with your audience, and stay in touch with your customers. However, digital marketing is an ever-evolving field, and it is essential to stay up-to-date with the latest trends and best practices to ensure the success of your franchise business. Read Also: Stay Competitive Locally: How A Duluth SEO Company Levels The Playing Field How To Get More Traffic For Your Small Business With Affordable SEO Why Is An SEO Services Company Better Than Others?

What to Consider When Starting A Marketing Agency

Marketing is a competitive field, and if you want to start your own agency, you need to make sure you have the right stuff to compete. There’s a lot of stuff to consider when starting your own firm. For instance, what services will you offer? What type of businesses will you cater to? Will you build your own website or outsource it? What sort of marketing agency hosting will you use? What to Consider When Starting A Marketing Agency It seems like a lot, doesn’t it? For this reason, we’ve created a simple guide to help you get started building your marketing agency. Read on to learn what you need to get started: To begin with, you need to make sure you have the right stuff to run an agency. To start a marketing firm, you should be adaptable, have a desire to learn, and amazing communication skills. Next, you need to decide what is going to set your agency apart from your industry competitors. The best way to figure out what will make your marketing firm unique is to start by asking yourself some questions: 1. What can you specialize in? Some services your agency can specialize in are: Search engine optimization (SEO) Email Marketing Content Marketing Pay-per-click (PPC) advertising Event Marketing Guest Blogging 2. Will you specialize in more than one thing? It’s a good idea to start small and specialize in one or two services; however, the more services you offer to clients, the more desirable your agency will be to potential customers. This is because people tend to like to be able to get all their needs met in one place. Utilizing marketing automation solutions could make it simple for you to provide a variety of marketing services to your customers. All-in-one marketing tools like digital marketing software for agencies will also enable your staff to perform more effectively and successfully. 3. Will you cater to B2B companies or B2C companies? B2B is short for business-to-business. It refers to companies that sell products or services to other companies. B2C is short for business-to-consumer. It refers to companies that sell products or services directly to consumers. Once you’ve figured out what services you’re going to offer and what type of businesses you’ll cater to, it’s time to identify who your target market will be. Ask yourself: 4. What market are your competitors targeting? Who are their customers? You don’t want to go after the same market as your competitor, or the same customers when you’re first starting. For instance, if your competitors have lots of eCommerce clients, you may want to choose a more underserved market like real estate. 5. What specific demographics can you target? It’s important to know not only who needs your service but also who is most likely to buy it. Consider the following factors: Age Location Gender Income level Education level Occupation Ethnic background. Now that you know what services you’re selling and who you’re selling them to, its time to write a business plan. Your business plan should have several components: The goals for your business. Predictions for your finances and cashflow. Forecast for your business activity. Outline of which revenue stream(s) you’ll utilize. Description of your target audience and how you intend to reach them. Finally, we arrive at the last part: finding clients. You may feel like the best thing to do is to get as many new clients as quickly as possible. Instead, it would help if you focused on retaining clients. It is much harder and more expensive to acquire new clients, then it is to keep existing clients. So how can your marketing agency find and retain clients? Find clients by: 1. Networking Networking can be done by attending industry events, trade shows, and conferences, participating in networking sessions, posting and sharing content on social media, participating in LinkedIn groups and discussions, as well as sharing information on relevant business forums. 2. Offer Free Trials Free is a golden ticket word for most people. Offering your agency’s services for free will help you build a portfolio while showing potential clients what you can do. 3. Referrals Once you’ve acquired some clients, use them to expand your client base by asking if their customers or suppliers need your services and letting them know that your firm is available. 4. Promotion Create a website, use social media, and design promotional material to market your marketing services. Retain clients by: 1. Making sure everything your firm does is client-focused. 2. Document all your work and file reports. 3. Keep abreast of the latest changes and innovations in the industry. 4. Approach your work with creativity. Read Also: How To Choose A Practice Management Software For Your Law Firm 5 Ways Construction Businesses Can Gain New Clients

How to Deal With Debt By Doing Business Marketing Smartly?