Bad Credit Business Financing: Coordinate Projects to Maximize your Marketing Budget
It’s not a secret that a high level of organization and the ability to prioritize are both helpful when running a business. Juggling between tasks is a skill that requires careful attention, and lest business owners wind up multi-tasking too much, then need to develop an acute sense of where many variables lie on the same extended timeline so each gets the attention it deserves. While it can be tempting to say that as long as things get done, then all is well, business owners with additional financing concerns due to bad credit can stand to benefit through planning better coordination between projects in order to compound on their positive effects.
Bad credit business financing can be its own balancing act. The challenges presented by bad personal credit for business owners include a potential reticence to experiment with marketing that may or may not create desirable results. PPC marketing, for example, has the potential to create a large amount of return once it is optimized and targeted, but when first starting out, there is a potential for waste in the budget if targeting efforts are unfocused. Hitting upon a channel that creates return for a small business, especially a small business that has a relatively unique niche or business model, can be slightly touch and go. In general, it is better to wait until you can afford to effectively utilize a technique and measure the results that it creates as opposed to trying to dip a toe in if there is a flat cost standing as a barrier to entry. It is important to be able to effectively identify good investments, bad programs, and programs with middling performance that may or may not be worth the time it takes to set them up.
Compounding branded impressions can improve marketing efforts. The more that your target audience is exposed to your positive branding the better, generally speaking. That’s why small business owners should think strategically about how they are able to coordinate marketing projects. Here’s an example of this principle: A small business that provides specialty cakes is planning two separate marketing projects for expanding their local reach and market share. The first project in the budget is buying ad space on local bus routes that pass through their neighborhood. The second is a more targeted mailer campaign to locals who have expressed interest in special offers through the company’s website. With the realization that many of their best clients being targeted in the mailer will most likely also see their bus ads, the business owner coordinates the programs so that a full week of bus ads are live before sending out the mailer. The reason is because whether or not a client on the mailing list responded to ads they may have seen on the bus, once they get a second piece of targeted mail they will already have experienced an impression of the business’s branding, making it more likely that they will act on a direct offer once it is received. This strategic type of thinking can help when managing bad credit business financing concerns, allowing the same budget to be stretched farther in terms of creating results.
Photo Credit to Gabriel Rojas Hruska on Flickr