When 74% of small businesses don’t have any e-commerce and 29% of them don’t even have a website, it may seem like your online sales are already a leg above the competition.
In truth, your small business starts a tiny fish in an endless ocean.
The good news? You can increase your visibility and on and offline through marketing. Marketing tools for a small business may not be exactly the same as those used by retail giants such as Amazon, but you can learn to use similar tools and strategies to see big returns.
Looking for the best small business marketing tools to boost your revenue and visibility? Read on to find out which ones will move you up the food chain!
The return on investment for email marketing is higher than almost any other marketing strategy you can use today. It’s crucial that you take advantage of this opportunity to be repeatedly invited into your customers’ inboxes.
MailChimp offers an easy way to create and manage newsletters, email campaigns, and mailing lists. This platform will have you creating beautiful and informative email marketing in a flash.
What’s more, sophisticated options such as geotargeting allow you to curate your marketing strategies to suit your demographic. Advanced analytics help you determine the most effective timing and schedule for profitable email outreach.
HubSpot handles the SEO, marketing, social media, email, website management and analytics in one easy format. What’s more, this awesome software personalizes your website content depending on the visitor.
Want to use a service like MailChimp with your HubSpot account? Take advantage of tools like PieSync’s HubSpot MailChimp integration to really streamline your online management.
Even if you’re no graphic design pro, the tools in Canva will allow you to create engaging and professional graphics with the click of a button. This free site comes standard with default size choices to make it easy for you to custom design platform-specific banners, ads, graphs, and more.
Drag-and-drop design makes creation a breeze. Your account can store files for editing, and a single click converts your Twitter graphic into the perfect size for your next Instagram post.
Canva offers many free images, backgrounds, fonts, and pictures. You can upload and store your own graphic elements to customize your designs even further.
Best Marketing Tools for a Small Business
When you’re marketing your small business online, you need tools that have a big return for your buck. That’s why we’ve suggested these comprehensive tools that can grow with you as your business expands.
Don’t be content as a small fish in the big digital ocean. The right marketing tools for a small business can be the investment that takes you from local news to global success story.
Looking for more advice on how to be a small business rockstar? Check out the BiggerPockets blog post on 4 Tips for Business Success.
7 Signs Your Business Face Financial Trouble
Within the last few decades, many companies, from high-profile mainstays to small local businesses, have fallen by the wayside. While some of those closures, administrations, and liquidations come seemingly out of the blue, there are somewhere in actuality the warning signs for the business were there before the final nail was driven in.
Listed below are seven key signs your business is in financial trouble.
Your Cash Flow Is Imbalanced
As the word goes, running a business, “cash is king.” An easy cash flow, where enough arrives to cover your outgoings, is key to keeping your organization operating. However, this flow could be sensitive, especially in small businesses. A supplier or customer perhaps not spending punctually may impact your cash flow, as may premature expansion or overspending in times wherever in actuality the going is good.
Negative cash flow is appropriate in the temporary while a fledgling company sees its legs or in the aftermath of an important expansion. But without positive cash flow, in the future, a small business cannot pay its costs and thus cannot survive. If your fund office is postponing spending its costs or team, it may indicate imbalanced cash flow.
Creditor Pressure Is Growing
The best way to help keep your creditors happy and minimize the pressure on your own company’s shoulders is to cover them on time. If your outgoings outnumber your income, it’s tempting to delay spending invoices. But doing this is just a sure-fire treatment for sour relationships along with your creditors, who may start chasing you for payment.
This may start the slippery slope into further trouble, as they’re likely to carry on chasing you until your debts are paid off. Creditors could even resort to legal action in an endeavor to retrieve their money, and you might wind up facing bailiff action.
You’re Always Refinancing
Refinancing alone isn’t an indication of financial trouble; it is a legitimate way of freeing up cash tied up in company assets by borrowing money secured against an assets’value. It can be used to lessen rates. While refinancing once isn’t abnormal, the business must manage to afford the repayments. If it occurs usually, it could be a sign of higher financial problems, and lenders may become cautious of companies continually refinancing, which may lead to more economic troubles later.
Until you are the main trader, staff are one of the very most vital the different parts of your organization, and employee morale often correlates along with your company’s health. One of the very obvious signs of financial trouble linked to staffing is layoffs and cutbacks in employee benefits, bonuses, or even a pay freeze.
The business could also change its contracts with staff, reduce hours, introduce zero-hour contracts or make staff work more for the same money. Doing so risks souring relationships along with your personnel and could cause to another location point.
Bad Company Atmosphere
Reducing advantages while increasing objectives on personnel will likely result in a bad environment and a drop in work satisfaction. Work can become less of a place of work and more of a place for fighting fires, constantly coping with problems instead of being productive. Team may lock onto that downturn and modify the atmosphere and start causing higher figures, too, taking people back to the last position about staffing issues.
Counting on Individual Contracts or Projects to ‘Sort It Out.’
Whenever a small business is operating healthily, it will have many clients or customers on the books with consistent income. Businesses in a less healthy position might put more weight on the agreements they do have. If one improvements company or stops being fully a regular source of business, the consequences will have an even more detrimental impact.
You could notice the company is relying more on fewer clients or focusing all of its efforts on acquiring new ones to the detriment of those they already have. This could sour relationships with existing customers and be described as a sign the directors are desperate for income.
Your Customers Have Noticed
Clients are very good at spotting when things change, and if they feel they’re getting less while paying the same money, they’re unlikely to stay quiet. If your employees are unhappy, prices suddenly rise, or benefits such as loyalty programs are scale back, rumors may start circulating, customers may start asking whether you’re closing, and in the worst-case scenario, it could get found by local or national media.