Market your small business with an affordable budget
Every company needs to market their business.
Depending on your budget, there are multiple ways to market a small business effectively. If your small business needs working capital so you can market, you have several options to pick from, such as:
- company credit card
- personal credit card
- applying for a loan from your bank
- applying for a working capital loan from a company like First Capital Business Finance
Be sure to weigh all your options before making a decision.
Time Frame to Get Marketing Funds
Credit cards are more than likely the fastest way to access funds, however if you don’t have a credit card nor do you have good credit, your other options is using your company savings or personal savings. Remember that bad credit loans exist, but you’re more likely to get better terms if you have a better credit score.
Your local bank will more than likely not give out a loan if you have less than perfect credit, and they can also take up to 30 days to get you those funds. If you’re in a time crunch, your other option would be our working capital loan. We can have funds in your account in as little as 5 business days. Our company will accept credit scores as low as 480, and our loan amounts are based on your historical gross revenue.
First Capital’s working capital loans have no upfront fees or application fees.
Cost to Get Marketing Funds
If you had to get a cash advance from your credit card, those interest rates are higher than regular purchase transactions. Not only are the rates high, but most times they also charge you an additional fee of anywhere from 3% to 5% of the amount you advance. Thankfully, our working capital loans have no upfront fees and no application fees, and our rates are very competitive.
What’s the Next Step?
Once you’ve chosen the way to get the funds you need to market your small business, you need to do some more research. It’s important you’re aware of all the different, affordable ways to market your business.
Social Media Marketing
Social media is the future of marketing, and best of all it’s free! Get yourself on Facebook, Twitter, Linkedin, Digg, and similar platforms. Inform your friends and family of what your business offers.
If you are in a service-oriented industry like plumbing or a restaurant, consider getting a Yelp account. Personally, before I hire a contractor or handyman, I always check out their Yelp reviews before even calling them to get a bid.
Real feedback from real past clients speak a thousand words, and those reviews are valuable to your company’s brand image. Best of all, it was free!
Always carry business cards with you.
Do you always have your business cards on you? Shame on you if you don’t! I keep my business cards in my wallet at all times. You never know when you’ll meet someone that needs your service, so having your business card handy is a must.
What’s that? Free business cards? Yes, there are several sites out there that offer free business cards, and Vistaprint.com is one of them.
Another free way to get the word out is your email signatures. Most people have several email addresses they use, maybe one for personal email and one email for work.
However, email signatures should have some phrase asking for referrals.
Don’t be afraid to ask for referrals! They are free, and if people believe in you and what you do they will refer you business to other people. You just need to ask!
Now if you have a larger budget for marketing, you may consider calling your local cable company to get their airtime rates. They will be cheaper than a national campaign, and they will be able to provide you with potentially local clientele. With technology the cable companies should be able to tell you the demographic of the viewers in your market area, which will help on making a decision if this is a good market for you to advertise to. You can even find cheaper media time, on major networks. One keyword you want to know is “remnant time” or “remnant media”. This is usually a lot cheaper than prime time media, and is a great way to get into this space at a cheaper rate.
Get Affordable Financing with First Capital Business Finance
Whatever way you choose to market your business, if capital is an issue, you can always consider our financing options. Our programs allow the funds to be used for any purpose: marketing, expanding, remodeling, supplies, anything. The most common working capital loan is our Business Cash Advance program. Interested in hearing more about our loan programs? Call First Capital Business Finance at 888-565-6692 and one of our loan experts will be happy to answer any of your questions.
How to Market Your Small Business Without Breaking the Bank | First Capital Business Finance