In our last blog, we listed a number of ways that merchant cash advances can help to boost your holiday sales. It’s completely up to you what to do with your merchant cash advance. Unlike bank loans, advances represent money that business owners can do with as they please. However, since the holiday shopping season is fast approaching, we thought it wise to offer some suggestions about how your money may be best spent this time of year.
It is, of course, a time of year when you will want to invest some money into promoting your brand. So, it would be wise to secure a merchant cash advance before the holidays. Here are three reasons why:
1. It will help to develop a strong holiday marketing campaign. This is the time of year when shoppers are out looking for special deals and discounts for the products they wish to buy. Naturally, many will be spending more than usual, so the more they’re able to save, the better. You can use this to your advantage by personalizing your marketing campaign for your customer base. On BusinessNewsDaily.com, Turning Technologies CEO, Mike Broderick suggests that you gift your customers with significant savings.
“Building and maintaining positive, productive customer relationships is important all year,” he writes, “But the holidays provide additional opportunities to reach out to customers with personal greetings…For example, a $100 gift card redeemable for company products and services is not only a great token of appreciation for a valued customer, it’s an opportunity to reap additional profits since customers are likely to make purchases well beyond the amount you provide as a gift.”
2. It can help you to ramp up your online marketing efforts. For most Canadian business owners, there isn’t enough time in the day to update their websites and stay active on social media. During the busy holiday season, this is doubly true. As a result, it may be wise to hire both a graphic designer and social media consultant in an effort to ensure that your online marketing efforts don’t fall by the wayside.
“Ensure your systems can handle increased traffic and check that your directory and search engine listings on Yelp, online YellowPages, and Google are up to date,” strongly recommends Julie Gordon on Inc.com, “Do they have the correct holiday hours, address, and phone information? Clean up your customer data for more accurate direct mail and email campaigns. Does your company have a social media presence (Facebook, Twitter, Pinterest)? If not, consider creating a profile on the social networks your customers frequent.”
3. It will help to reinforce the connections you have with your customers. It has often been said that it’s easier to impress your current customers than it is to impress ones you don’t have yet. As a result, you should focus your marketing efforts on those who currently support you. Broderick champions the need for building connections with both your staff members and your customers in an effort to boost sales.
“A persistent theme throughout the holiday season is the importance of connections – with family, friends and neighbours,” he writes, “Connections are an important part of any successful business, and by reaching out to staff, customers and your community, you can strengthen those ties. It’s a great way to improve your business, but it’s also an excellent way to give back to the people who make your enterprise a success all year long.”
The way we see it, you should use your merchant cash advance to create a marketing strategy that rewards the members of both your customer base and your local community. Perhaps, you can deliver flyers to each of their homes in order to offer special discounts to those who enter your store with the flyers in hand. That way, you will be able to strengthen the relationships with the customers you already have while building relationships with people you haven’t met before.
For more information on our merchant cash advance program or to speak with one of our licensed funding specialists to get a free, no obligation quote, simply call Synergy Merchants at 1-877-718-2026 or email us at firstname.lastname@example.org.