Starting a small business may seem easy at first, but you find out very quickly that it is difficult to stand out among a sea of other small businesses and corporations trying to sell their own products.
Strong marketing campaigns are essential to a thriving business in the modern era, but it is often understated how much that will actually cost you. Advertisements in today’s competitive world can be quite pricey.
In order to get the most exposure, you often need advertisements on social media sites, web pages, video players, newspapers, magazines, etc. Placing advertisements on these services is anything but cheap and can quickly run up a hefty bill.
If you are struggling to find the capital needed to give your marketing campaign that extra “oomph” factor, you should consider getting a small business loan to help cover your marketing campaign expenses.
What is a business loan and how do I get one?
A business loan is a certain amount of money given to a business that is repaid over time.
There are many different types of loans from lenders such as banks, charities, private firms, and even the U.S. government.
Typically you will have to provide the lender with bank statements, your credit score, and possibly collateral (assets that can be liquidated if you default on your loan) in order to be considered for a loan.
Some loans even require the business owners to spend them in a certain way, but many give them a chance to spend it on what they believe will be the best for their business. You can use your loan to hire more staff, improve your technology, expand to a new building/location, or improve your marketing and advertisements.
We will be focusing on the latter.
Boosting your sales has never been easier
In order to get a better idea on how you can use a business loan in order to improve your marketing efforts, take a look at the following real-world examples of businesses that boosted their sales through a small business loan.
Blue Peach Media: finding new clients is the way to go
Gavin Grace formerly worked at a production company and went on to start his own production business after his old company shut down.
Grace had already managed to land a number of recurring clients and began shooting and editing video footage on a number of projects. However, he quickly ran out of funding to pay his staff and complete his projects.
He was able to obtain a business loan from a private lender after collaborating and showing a business plan that had a lot of potential. He used this loan to cover his operating costs first and foremost, but also invested in becoming a contractor for the State of New York, something that he believed would make a strong selling point in his advertisements.
Grace says that his number one tip for new businesses is to focus heavily on marketing and finding new clients, as this is the best path towards expansion and growth.
KocoSky: fashion never sleeps, and most certainly it never stops advertising
Franchesca Buttram was an avid e-shopper that decided to start her own business revolving around finding women affordable, comfortable, and fashionable clothing of all shapes and sizes.
As the business grew, Franchesca turned to business loans in order to inject the capital she needed to properly expand her business. She used the loan not only to add to her inventory and streamline her sales process, but also in a marketing coach who helped her build her website and reach thousands of potential customers through online ads.
She grew exponentially.
Franchesca shows that investing money in marketing is almost as important in expanding your business as adding new inventory, as reaching more customers will allow you to sell more product and create even bigger profits to be used to expand your business.
If you are looking to expand your business and want to give your marketing a much needed overhaul, consider applying for a loan at your local lender to make sure you market yourself right.
Featured image source: Freepik