For many small and mid-sized business owners, marketing is on their “nice-to-have” list; i.e. the one full of goals that they’ll focus on sometime in the future once they take of immediate needs, such as fixing an irate customer’s problem, improving this month’s (or maybe this week’s) sales numbers, getting the landlord to finally fix the air conditioning system, and so on.
However, as you may have already experienced, the future always seems to be…well, in the future! As such, marketing never seems to get on the radar screen. While this is understandable, it’s also likely a major and possibly fatal mistake.
Marketing as an Investment
Simply put, when it’s done right, marketing is an investment rather than an expense. That’s why the most successful businesses in every industry – including yours – spend significantly on marketing year after year. It’s not because they like wasting money or can’t think of anything more profitable to do with their capital. It’s simply that they know marketing generates awareness, awareness generates prospects, prospects generate customers, and customers generate sales.
“But I Can’t Afford Marketing!”
Even if you’re convinced that marketing is a worthwhile investment to keep competitors from poaching your existing customers and to acquire new ones, there’s also a good chance that you’re thinking: “but I can’t afford marketing!” Well, there’s another side to that story, too.
True, you may not have the cash in your account at the moment to launch a targeted marketing campaign. But that’s not a limitation, because even if you’ve only been in business for 2-3 months and/or you have imperfect or bad credit, there’s a very good chance that you’ll qualify for one of our Working Capital Loans.
Once you’re approved and the funds are in your account – which takes a matter of days, not weeks or months – you can use the funds any way that you wish to achieve your marketing goals. For example:
- You can re-design your website so that it’s professional, updated, and full of customer-facing information and features. Don’t underestimate the impact and influence that a good OR bad website has on your target market! Good websites are like magnets that pull customers in. Bad websites are like putting a big “DO NOT DISTURB” or “NOT IN SERVICE” sign on your (virtual) front door that keeps customers out – and heading straight to your competition.
- You can launch marketing campaigns that get you noticed by your most important and profitable customers – so that they eventually comprise most (if not all!) of your roster. Indeed, the most successful and lasting businesses aren’t necessarily those that sell the most. They’re the ones that sell the most to their most profitable customers.
- You can reach out to your current customers to get them to buy even more! This is an aspect that many businesses overlook, because they assume that their current customers are already buying everything that they want. But many times, current customers would happily buy additional products or services, but they don’t – because they don’t know that certain offerings are available!
These are just some of the marketing scenario that can be brought to life through a business loan. And once again, unlike conventional bank loans, you can use the funds any way that you wish — it’s your business after all!
Contact Us Today
To learn more about how a business loan can support your marketing campaigns or any other investment – such as new technology, new staff, renovations and upgrades, and more, call Mulligan Funding at 855-326-3564 to discuss your financing options today!