The beauty of advertising your brand’s services on the internet is that it offers you a unique learning opportunity. Digital marketing can sometimes seem like it involves far too much trial and error. However, every win and loss can unearth untold troves of information that can bring your company some success. You simply need to know how to make the most of what you see. This is where analytics comes into play. By analyzing the data related to each marketing move you make, you can start to put together a cohesive strategy for the future.
Start With an Objective
The best way to use data to your advantage from the start is by having clear goals. When you know what you’re trying to achieve with your marketing efforts, it makes it a lot easier to follow a map to your success. Should you fail to reach your goal, you can learn a lot about where you went wrong by taking a look back and analyzing each step you made. Without a clear objective, you’ll have a harder time discerning how to apply what you learn from analyzing data.
Incorporate Multiple Channels
One set of data can help you understand a lot. Several sets of data can introduce you to a wealth of new solutions. To obtain several useful sets of data, you’ll want to incorporate multiple channels when performing analytics. Instead of merely measuring the results from engagement on your website, include areas like social media posts and any ads you have online. When you’re receiving data from several different points, it can help to show you where you should be putting more of your efforts with future campaigns.
Look at Current Trends
More often than not, business owners and marketers view analyzing data as a static tactic. However, consumer trends change often and dictate most of the marketplace. This means that you absolutely want to pay attention to these shifting whims whenever you can. If you fail to take certain search trends into account, for example, you might misinterpret the data you see and make bigger mistakes down the line. Though you don’t need to follow every trend you notice, you should always make sure you’re paying attention to what they say about your data.
Understanding what your data says about your digital marketing efforts takes a little bit of work. Take time to run analytics and it can make a world of difference to the success you see with promoting your brand on the internet.
Dealing with imported goods is among the best ways to earn income at a profit as they come at a low cost. While the benefits of importing business are many, it can be overwhelming to finance it. You need sustainable funds to run the import business. Getting bank financing can be difficult, bearing in mind the long tiring application. For this reason, you should consider other import financing avenues. Here are the ways to finance an import business.
When you consider inventory financing for your import business, the process can be expensive but worth your time and effort. With this type of business financing, you use your current inventory to apply for and secure a loan. This allows you to buy and import goods that your customers and the market desire and sell them at a profit. As an option of import financing, you increase your inventory without negatively impacting your cash flow when you consider this option. You should, however, keep your debt serviced to avoid implications from the lenders.
Another best way to finance your import business is by considering asset-based loans. This involves factoring accounts receivable to a commercial bank, finance company, or any other lender in the market. With this option, you get the payment in advance, making it possible to import goods and meet the market demand with ease. You should note that there are discounts on the accounts receivable sold. This import financing option is fast and effective as you don’t wait in line, as is the case with other funding options. You also improve your business cash flow when you factor in accounts receivables. This makes it possible to run the business even in times of economic struggle.
Purchase Order Financing
As an option to import financing, a purchase order allows you to take your invoices and assign or sell them to a financing company that assumes the risks and the responsibility of collecting the payments. You get a payment including the profits after the manufacturing of your products, the payments collected from the customers, and the proceeds cut. While this is an option when banks don’t approve your loans, purchase order financing can be costly. You should, however, have a good supply chain with creditworthy customers for this to work best.
Are you struggling to find the best import financing option for your business? Contact Bold Growth Solutions for professional guidance.
These days, many construction companies are opting to lease their equipment instead of investing large amounts of money to buy it outright. There’s no wonder why- there are several benefits to this. In this article, we’ll take a look at three of the most common benefits of leasing instead of purchasing your equipment.
Lower Cost of Ownership
One of the major benefits of leasing construction equipment is the cost. When you buy new, you typically have to pay a large down payment and then make high monthly installments. However, this is not the case with most lease agreements. Often, leasing companies will work with their clients to find payment options that fit their personal needs.
The second benefit of leasing over purchasing is flexibility. These days, so many companies only need certain pieces of equipment short-term. A lease agreement can offer you the flexibility to choose a short-term lease to fit your own equipment needs and budget.
Monthly lease payment is going to almost always be lower than if you were purchasing the equipment. This means that you have greater cash flow. On the other hand, if you are purchasing the equipment outright, you end up having to hold on to equipment that is outdated instead of being able to trade up when an updated one comes out.
Consider Used for Fast Access
When you’re purchasing new equipment, certain pieces have a long waiting list. This is when leasing used equipment is a good solution. Plus, used equipment costs less than new.
The truth is, there’s no real rule that leasing is better or buying is better. The decision is entirely yours. You must do what works best for your company. Therefore, it’s critical that you take the time to do your research before making any decisions.
The world of digital marketing changes constantly, and a lot of your advertisements are out of your control once you post them. Still, it’s important to do your research and keep up with trends in online ads. As you update your pay-per-click ad strategy for this year, keep these suggestions in mind.
Automate Your Ads
In the early days of PPC, you did all the work yourself, from finding the perfect posting location to identifying the best times to upload new content. However, automated tools are becoming popular, and they give you more time to focus on complicated tasks. These functions are new, but you should take advantage of search engines’ alert services. Also, set bidding rules for each ad and sign up for automatic data reporting services. Don’t be afraid to try programs that are still in development; you could be looking at the next breakthrough in advertising.
Break Up Your Audience
Especially if your audience involves a wide variety of people, your market isn’t monolithic. To optimize your online ads, divide your audience into segments. Collect data on different segments by noting trends in the links that visitors use on your website and the ways that they use your site. If you send out surveys or ask for people’s details when they sign up for accounts, also include demographic information such as gender and age. Once you’ve accumulated enough details to split your audience, use the Audience Manager function in Google Ads to target your PPC ads to a specific segment.
Optimize Your Ads for Voice Search
Since smartphones have become ubiquitous, voice searches have also become commonplace. To prepare for the increasing use of voice-activated searches through Siri and other servers, you must alter your ads. Right now, you can’t buy advertising space on voice-activated platforms. However, you can optimize your current ads so that when people switch from their voice searches to Google or Safari, your ads are similar to their previous searches. Keep your landing pages’ tones conversational and prioritize both search engine optimization and user experience design. Choose keywords that people say in everyday conversation so you’re ready if platforms begin offering paid voice-activated advertising space.
Your current PPC strategy works well, but you can’t keep it the same forever and hope that people will continue to visit your site. Instead, be proactive about updating your marketing strategy to accommodate new trends in technology and your industry.
Although traditional loans are available for your commercial real estate investment endeavors, you have to consider that some banks simply will not offer loan amounts that are substantial enough to cover properties on the higher end of the cost spectrum. Commercial properties can be quite expensive to finance, and CMBS conduit loans consistently top several million dollars.
First of All – What is a CMBS Conduit Loan?
The loan, itself, is so named because the financial institutes that offer it are usually conduit lenders, commercial and investment banks, or an established syndicate of banks. This type of loan is specifically for commercial properties and is held in a trust that is apart from the property so that it can be used as viable collateral for security backed by a first mortgage. The characteristic loan term is 25-30 years, and you can expect a large balloon payment due at the close of the loan term.
CMBS Loan Audience
As you may have guessed from the title, the primary users of CMBS conduit loans are commercial real estate investors interested in funding the purchase of multifamily housing units, hotels, large office buildings, warehouses for self-storage units, and other substantial industrial buildings. They are generally regarded useful if the requisite loan amount exceeds $2 million, and the leverage being sought tops out at 75%.
The Benefits of a CMBS Loan
Besides the superior leverage terms, their chief attribute is their availability to new commercial real estate investors who might not have the capital necessary to acquire traditional loans of the requisite amount to buy commercial property. Conduit loans are not as bound by red tape, and the interest rates are often better than what traditional loans provide to all but the most stellar credit histories. Overall, the record is clear: investors enjoy superior interest rates when using CMBS conduit loans, as well as a better ROI (return on investment).
When it comes to real estate investing, it is generally accepted that the commercial version is “leveling-up.” Because everything gets bigger on the commercial stage, it is often recommended that incoming investors get a number of years under their belts before making the transition. Once you do, you will find that commercial real estate is can be prodigiously rewarding. To this end, consider the following profitability comparisons among different types of commercial property.
- Properties in Growth Regions
Location is of course one of the most important prerequisites for highly profitable commercial real estate properties. Any region where a lot of traffic crosses will almost certainly cause residences and businesses to crop up at a torrid pace. Take universities, for instance: you get no end of eateries, shopping venues, and movie theaters nearby; so much so that the delineation “college town” has become a part of the lexicon.
Additionally, lease renewal is a lot more likely in growth regions, which of course helps keep commercial real estate units filled (assuming you’ve got an apartment complex or multifamily housing unit). Suburbs are another hot topic that never seems out of the running as a growth area.
- High Occupancy
It’s clear that if a property can attract and maintain a large number of tenants, then it will almost always be very profitable. The math is simple: the greater the number of tenants, the better your ROI when it comes to maintenance, and of course the more money you make as income. This is where research comes into play, too, for you to decide whether the location is better-suited for RV parks or apartment buildings – both are known to have very high occupancy rates. Other options are self-storage units; which are, additionally, considered high-demand units.
- Maintenance-Free Properties? What Are Triple Net Properties?
As the name implies, these benefit the real estate investor on three levels:
Maintenance is the responsibility of the tenant – not the landlord/investor
Taxes associated with the property are also the responsibility of the tenant(s)
Any applicable building insurance is rectified between the tenant and an approved insurance provider
This type of commercial real estate may provide the highest return-on-investment of them all, due to the hands-off nature of maintenance. It’s still your investment, and you’re responsible for developing it into a viable living space to attract tenants; but once they’re in, the responsibilities above shift to them. Contact Bold Growth Solutions today to get the financing you need for your next investment property.
The number one problem with hunting for retail financing is the relative lack of lenders that offer full-suite solutions. You can always find separate prospective lenders for one or other of your financial needs, but rarely can you find a single one that meets them all. Diversifying your monthly payments is not efficient or beneficial – especially when it comes to loans.
However, with that said, it is still better to opt for better individual solutions than a full-suite lender with objectively more costly terms. The following are some retail financing options that have withstood the test of time in any economy.
Retail Financing Option: The Merchant Cash Advance
If you’re a small or medium-sized store owner with a limited history in business, it can hard to secure bank funding to meet your cash flow objectives. It is for this reason that the short-term loan option of the merchant cash advance is so widely used. The market is largely unregulated, which means it’s a lot easier to get approved.
The merchant cash advance option gives the lender a percentage of your daily or weekly receipts (credit card, usually). The benefit here is that, since it’s a percentage, you are never overburdened during seasons of low sales. The daily credit take for the lender averages 12.5%. The terms vary somewhat depending on the company and the option you choose – such as the daily ACH loan that looks at total sales over a period of time, instead of daily sales.
Equipment Loans and Leasing
This is probably the best option for those who need to purchase machinery, since it helps keep your cash flow positive for day-to-day operations. These rings even truer if you opt for equipment financing rather than buying outright; there are many advantages to leasing over owning. The cost is one; the ability to upgrade at minimal cost is another.
With retail financing, working capital is the name of the game – after all, seasons of heavy buying fluctuate, and you want to make sure you can remain solvent through a downturn. The above are just a few of the lending and leasing options that will help you accomplish this goal and stay in business while others are floundering. Contact Bold Growth Solutions for more information.
Contract financing is a form of assurance that significantly increases the chances that you secure a contract that you’ve been awarded by a consumer (usually a company). You may initially think “why would I need assurance if I’ve already been promised the contract?” Fact is, many contracts are lost due to the service provider’s inability to meet deadlines or requirements – particularly, proof of the necessary funds to see the project through. To hedge against this, it is possible – if not outright advisable – to secure a letter from a lender to the client of your ability to fund the project in full.
Finalizing the Funding Transfer and Beginning the Project
You can opt for a purchase order finance, in which the financial institution provides the funds with which you can then purchase materials and pay workers. In this case, the lender sends the funds directly to the supplier on your behalf. You will need a top-notch credit score, in most cases, to secure this type of contract funding – despite the fact that, in order to minimize the risk, your business does not actually control the funds.
Obtaining Partial Control of Funds for Your Business
In this scenario, you have full control over the contract financing; this is often a multi-step process. For example, as you meet preset milestones, more money will be released by the lending institution. If a project requires a total of $5 million in projected funds; then perhaps the lending company will provide you with $500,000 after the foundation is laid for a property extension or new office building. This tactic is usually indicative of smaller financing institutions, for obvious reasons.
Getting Total Control of Funds
The final and most robust situation for your company; in this one, all funds are released to you at the start of the project if they are approved. It can take the form of an overdraft or a direct business loan; in the latter, full payment back to the company is due at the conclusion of the project. Your credit must be virtually blameless to secure this option of contract financing.
Making a name for yourself on the internet can be an involved process. Many business owners learn early that selling services online requires a good amount of preliminary research and a ton of trial and error. While digital marketing can seem overwhelming at times, there are ways to find your center and keep forging ahead. One easy way to achieve this is by setting goals for your marketing campaigns. By having objectives you can work toward, you can totally transform your advertising experience. Use these points to learn more.
Create a Map
For many, running a business can often feel like wandering around in the dark. No matter what industry your company exists within, there is not always a clear path ahead. By setting goals for yourself, you can change this. A goal creates a finish line for you. Once you see where you’re headed, the rest of your journey starts to unfold before you. Until you have an idea of what you’d like to accomplish, however, you are pretty much just taking guesses without a purpose.
Obviously, there are some goals that are going to be too broad when it comes to digital marketing. The main goal is always to sell the services of your brand. Of course, you need to be a bit more specific than this. By being as detailed as possible with each goal you set, you will be able to create a plan that leaves less room for error. For example, you may wish to see higher conversion rates on your website. This goal is much more specific than stating you’d like to make more sales.
Set a Timer
A goal is not worth much without a time limit. When you’ve got no deadline before you, it can seem freeing at first. In truth, it can actually encourage you to take your time to the point where you never get started. Giving yourself hard deadlines with your goals ensures that you will actively take steps to accomplish what you’ve set out to do. While you definitely benefit from lighting a fire beneath you, it is also important to remain sensible and create manageable timelines with your goals.
The key to digital marketing is being as specific as you can. Take this to heart by setting clear and concise goals for your advertising strategy. When you put a finish line before you, it makes the rest of the process a whole lot easier for you to handle.
Healthcare practices should strongly consider the use of medical factoring to improve their working capital and cash flow; in fact, few industries could reap greater benefits from this financial instrument. In particular, the role of medical insurance often means very long delay times between the service provided and the receipt of payment for said services. Invoices can remain outstanding for as long as 120 days in some cases, which seriously stifles the healthcare company’s ability to grow.
Medical Factoring Offers Solutions to Unique Problems
Just like any business, the healthcare industry has to be concerned with the costs of everyday operation – this includes utilities and of course rent, payroll for employees, medical equipment, office renovations, the cost of their marketing plan and investments, and attorneys and consultants. The added cost of medical malpractice insurance can be burdensome if payments are not rolling in.
Top Reasons For Healthcare Factoring
In addition to the above, there are quite a few reasons why healthcare factoring is especially important for the medical industry; indeed, some of these are concerns that are exclusive:
Healthcare Reforms: Although regulations are a feature of every industry, healthcare is a special case due to the politics involved with Medicaid, Medicare, etc. All kinds of new initiatives emerge from Washington almost every year, and the medical industry needs to prepare to implement them financially.
Medical Malpractice Suits: This goes for any suit, of course; the costs associated with medical malpractice can be sky-high, and insurance is the only viable way to deal with it. A negative cash flow can be a death knell to getting full coverage, however – which is medical factoring can be of such utility in getting paid so as to have the necessary working capital.
Specialized Equipment: You cannot afford to fall behind in the equipment department – especially since there’s a direct correlation with the health of your patients. This means your older models need upgrades and renovations; sometimes, they need to be replaced.
In sum, then, the reason why healthcare practices employ medical factoring is to facilitate a business that is especially prone to cash shortages, due to the nature of medical insurance (primarily).