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5 Tips to Stop Your Small Business from Hemorrhaging Money

If you are a small business owner, you have probably heard that it is not uncommon for your business to operate at a loss. This is not ideal, however, and you probably feel like you can do better. But how? Follow these tips to stop your small business from hemorrhaging money. Leverage Social Media Image from Flickr by jillianj3 If it seems that more business is conducted online these days than off, that’s probably because it is. When someone is looking for a product or looking to hire a service, they often turn to the internet. So, if your small business doesn’t have an online and social media presence, you are missing out. Building a social media presence, however, is about more than merely creating a page. You have to also post regularly and engage meaningfully with your followers and customers. Running a small business has always been about customer relationships, but now many of those relationships have moved online, so that is where you need to be. Use Traditional Advertising While social media will help you to get the word out about your product or service, it can’t do everything. Paid advertising — whether it is online, in your ...

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Don’t Let Your Online Dream Turn into a Financial Nightmare

In an age where anyone can become “insta-famous” or a YouTube millionaire, making a mint online is easier than ever. Of course, we can’t all jump into cyberspace and start raking in dollars but the opportunities are undoubtedly there for the entrepreneurial millennial. In fact, the research out there suggests that the trend for people making a name for themselves online is influencing the public at large. According to a study carried out by America’s Small Business Development Centers (America’s SBDC), 49% of millennials said they intend to start their own business within the next three years. In support of this newfound entrepreneurial spirit, more than 50% of millennials surveyed said they would quit their jobs and start out on their own with the right resources. Given that the internet is one such tool, it’s little wonder that more people are now looking to make their fortune online. Security Slips Can Cost Any Startup However, while the internet has made it seem as though creating and maintaining a boutique business is easy, there are a number of dangers people miss. Despite newspapers and media sites being filled with tales of data breaches, hacks and viruses, too many budding entrepreneurs fail to ...

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Why Your Business Should Invest in Digital Marketing

Although banner ads and hashtags are helpful in building brand interest, there is far more to digital marketing than deploying those tools. Successful marketing campaigns require strategic plans backed by market research and competition research. Investing in digital marketing means getting the most return on your investment by reaching target audiences with precision. Data-based Marketing Personalized marketing relies on digital delivery. Whether a potential customer is streaming a movie, binging their favorite show or visiting their usual news website, that customer is seeing ads that are targeted specifically at them. Experienced online marketing agency professionals achieve this precise delivery by sifting through layers of data to better understand customer behaviors and digital trends within each platform. They also find out which items the customer tends to click on or otherwise engage. Understanding a target customer’s digital preferences and online habits helps marketers develop a campaign that will meet the customer as they travel their usual digital landscape. Budget-Conscious Investment Unlike other forms of marketing, ones that cast a wide net, data-based marketing is targeted and precise. Investing in this kind of marketing is a budget-conscious decision. Not only does data assist in finding the right potential customer at the right ...

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What Spending Is Being Done To Advertise To You On Online

When companies or venues are making arrangements to run an event, it brings a feeling like one is sprinting a marathon. Months or weeks before making the event known to people, the organizing team already begins conceptualizing the event marketing, booking the venues, procuring sound system, creating décor materials, preparing tickets and their mode of selling and so on. All these prove that preparing and organizing to run an event make a ton of work. Checking the entire logistical boxes before the day of the event is the challenging part of it all. Promoting the event to make people aware and get the intended guests to sign up is tedious, thus if one can’t manage to create a buzz to the public then chances of most people showing up to fill the seats become minimal. You should not be worried anymore, as the modern world of technology has plenty to offer you and make everything run smoothly. For starters, whether it’s popular music shows in San Diego or classical opera in Philadelphia, an engaging website or webpage is essential. Customers want an easy to navigate virtual realm showcasing upcoming events and how to get access, simple as that. Creating a ...

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4 Areas of Business You Should be Investing In

Though you may be able to start a business with little to no capital, the only way to keep it running is to invest in its development. As the saying goes, “you get out of it what you put in”, if you want to have a successful business, you must be willing to invest in quality products, services, and processes.  This often requires a clear understanding of which areas of your business will yield the highest return on investment. There are phases of running a business where cash isn’t readily available to invest in growth and development. During those times, companies looking at both offline and online business financing options from banks and online lenders to tide them over. Financial resources like small business loans, credit cards, and lines of credit, essentially provide organizations with the upfront cash they need. While the amount you can borrow will depend upon your personal and business financial background and ability to repay what’s borrowed. When approved many take the funds and invest in areas of business that include: Marketing Marketing is an area of business that should be continually invested in. Essentially, marketing is the ability to advertise your products and services to ...

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