by speedadmin | May 19, 2023 | Blog
No matter what size your business is, you need a brand strategy to compete in today’s competitive marketplace. Putting a solid plan in place helps your company encourage loyalty from your customers, builds a positive impression of your business, and increases the public’s awareness of your company.
What is a Brand Strategy?
A brand strategy is a well-thought-out plan that defines how your company is different from your competitors. It ensures all your messages to the public are consistent and support your company’s mission statement and purpose to generate the right perception to consumers.
How Do I Create a Brand Strategy?
There are several steps to follow when planning how to brand your business.
1. Define Your Purpose
Here you tell your customers what your products and services do and why you started the business in the first place. Include your vision for the company, the mission statement, and the values your business follows. Then, do your best to write a clever tagline that summarizes your purpose in one well-written sentence.
2. Determine Your Target Audience
Try as you might, your company can not reach all consumers, but it can capture the market of your target audience. Analyze what demographic your products and services appeal to, and then research their lifestyle, needs, and buying habits. Then, tailor your brand message to your customers and advertise through the media your target audience frequents.
3. Decide on a Brand Voice
All of your brand messages must use the same voice. Decide in advance if you want to communicate with your customers in a fun and conversational way or want a more formal business-type approach. Then, make sure everyone in the company uses that brand voice in all external communications.
4. Analyze Your Competitors
Research your competitors and how they brand themselves. Study what they offer consumers and what your company does differently that sets you apart. Use this knowledge to include your company’s distinctive qualities in your branding. For example, point out how your team members have a different skill set than most or how your processes make your product or services better than the rest.
5. Create Memorable Campaigns
Once your brand is in place, create memorable advertising and social media marketing campaigns to share it with consumers. These meaningful messages help current and potential customers recognize your brand and encourage them to check out what your company offers.
Follow these steps to create a brand strategy for your company.
Business owners know that you get what you pay for. When it comes to digital advertising, this principle is essential for success. Don’t risk something as important as your company’s online reputation. Entrust your digital marketing to experts. At Speed of Light Funding, we’ve been providing state-of-the-art marketing services to business owners for a long time.
by speedadmin | May 16, 2023 | Blog
Acquiring an existing business can be a great way to jumpstart your entrepreneurial career. With the right financing, you can purchase an established business with a solid customer base and revenue stream that will help you build your own success story. One of the most popular ways for entrepreneurs to finance a business acquisition is through small business loans from the Small Business Administration (SBA). In this blog post, we’ll cover how SBA loans work and why they are ideally suited for buying businesses.
How SBA Loans Work for Business Acquisitions
SBA loans are government-backed financing programs that make it easier for small business owners to acquire the funds they need. These loans are available through SBA-approved banks and other lending institutions, and offer longer repayment terms than traditional bank loans. The goal of these loans is to help provide entrepreneurs with access to capital so they can start or grow their businesses.
Applying for a Business Acquisition
When you apply for an SBA loan to purchase a business, the SBA will take into account your credit score and financial history, as well as the value of the business you are looking to acquire. The loan amount will depend on these factors, as well as the type of collateral that can be offered in case of default. This can include business assets, real estate, or other personal property.
Utilization of Funds
Once approved for an SBA loan, the funds are typically dispersed quickly and with low interest rates. This makes them ideal for purchasing businesses since it allows you to pay off the owner quickly and move forward with your plans without delay. SBA loans also come with unique perks such as loan forgiveness and repayment deferment in certain circumstances.
Overall, SBA loans are a great option for business owners looking to purchase an existing business. Not only do they provide access to capital that can be used for acquisitions, but the terms associated with these loans make them easy and cost-effective to manage over the long term. If you’re considering a business acquisition, contact Speed Funding today and ask about our SBA loan programs.
by speedadmin | May 9, 2023 | Blog
For construction companies, having access to reliable and up-to-date equipment is essential for success. However, purchasing the latest and greatest tools can be expensive and time-consuming. That’s why many companies are turning to leasing as an alternative. Leasing offers a number of advantages that make it an attractive option for construction businesses looking to save money and stay competitive in their industry.
Leasing Construction Equipment Frees Up Capital
First, leasing equipment allows construction companies to free up capital that can be used for other projects or investments. Purchasing new tools and machinery requires a large upfront investment while leasing spreads out the cost over time on an ongoing basis. This reduces the financial risk associated with making a large initial purchase and provides businesses with a more flexible cash flow.
Get Access to the Newest Technology
Second, leasing equipment helps companies stay on top of the latest technology. Since leases are typically renewed every few years, companies can always upgrade to the latest equipment without having to make a large capital investment. This is especially beneficial in industries where cutting-edge technology is essential for success.
Maintenance, Training, and Mobile Assistance
Finally, renting or leasing construction equipment often comes with additional services such as maintenance and repairs. This can help businesses save time and money by outsourcing these tasks to a third-party provider. Many leasing companies also offer mobile service, making it easier for businesses to get the help they need quickly and conveniently.
There are plenty of reasons why construction companies should consider leasing equipment instead of buying it outright. From freeing up capital to staying on top of the latest technology, leasing offers a number of advantages that make it an attractive option for businesses in the construction industry. Contact Speed Funding today to explore our comprehensive leasing packages designed specifically for construction companies.
by speedadmin | Apr 25, 2023 | Blog
Have you noticed that when you watch online or television commercials or listen to ads on the radio, you are often offered credit options along with offers to purchase goods and services? Many businesses offer consumer credit to their customers, but there are very good reasons why it is so effective as both a financing tool and as a marketing strategy.
Consumer Credit Made Simple
Consumer credit functions much like credit cards do. It provides customers with a line of credit, which they pay off over time. Instead of pulling out their credit cards during the checkout process, customers simply select this alternative credit option.
When a customer uses the online credit option for the first time, the lender makes a decision after asking a few approval questions. The transaction is processed and the sale is concluded if approved. Within a few days, the retailer typically receives the entire sale proceeds. At this point, the consumer is directly involved with the financial agent, not the merchant, in the fulfillment of the credit owed.
Additional Benefits
When businesses offer consumer credit, their customers are able to purchase the products they want instead of settling. For businesses, offering consumer credit allows them to get a stronger foothold in a competitive marketplace while also growing their customer base. Customers tend to make more purchases from a business that offers consumer credit compared to those that do not. Additionally, consumer credit offers more flexibility to customers, while ensuring businesses have a constant cash flow. When combines with promotional and seasonal sales, consumer credit can be a powerful revenue tool for businesses.
Learn More About Consumer Credit
If you are looking for ways to drive sales and increase revenue for your business, contact the team at Speed of Light Funding. We offer a wide range of solutions for businesses across every industry.
by speedadmin | Apr 18, 2023 | Blog
Admittedly, the phrase “Hard Money Loan” can sound humorous at first. But once you know what they are, you may find them useful to know about, especially if you are interested in the real estate marketplace.
Hard Money Loans: A Primer
Purchasing properties as an investment or for a business enterprise can be quite expensive, especially if you are considering commercial properties. Because of the high cost, a specific kind of asset-based financing known as a hard money loan is frequently used to finance commercial projects.
Most of the time, these are short-term loans that are secured by the value of the property being financed rather than the borrower’s credit history. Instead of being provided by a conventional bank, they are provided by a finance agent or private lender.
Hard money loans come with a certain amount of risk for the lender. Consequently, a hard money loan typically has a higher interest rate than other types of loans due to the higher risk of default.
Situations in Which Hard Money Loans Can Come In Handy
Hard money loans can be quite useful in a number of different scenarios. Here are a few:
- Financing a fix-and-flip operation
- When a person has credit issues preventing other types of real estate loans to be obtained
- When quick financing is required
The last point is worth considering further: A hard money loan can be obtained far more quickly than financing from a traditional bank. This can represent a significant advantage in a hot real estate market.
Hard Money Loans from Speed Funding
If you would like more information about hard money loans, then give the folks at Speed Funding a call today. They will be happy to answer all of your questions or suggest another form of financing if it is more suitable for your particular situation.
by speedadmin | Apr 14, 2023 | Blog
No matter how much marketing you do, it is not worth your time and money if it doesn’t lead to conversions. You may have tried many different online marketing strategies and even used analytical tools and you still may not have achieved the desired results. These are a few tips to increase your conversion rate.
Learn about Your Users
The best thing you can do to increase your conversions is to learn about your customers. One way to do this is to track your organic traffic. You need the traffic to gain conversions, so you need to know what is bringing your target market to your website. Learn about how they found your website, how long they stayed on, what they looked at, their locations, the devices they use, and what keywords they used to find you.
Learn to Use Analytics Tools
Analytics tools don’t just tell you your bounce rate, traffic increase or decrease, and conversion rate. They have features that allow you to email you when something goes wrong, create customized alerts, and tell you about your visitors.
Find Out Why They Leave
Your bounce rate can tell you more than the amount of time your customers stay on your website. In fact, your bounce rate counts the number of people who visit only one page of your website. You can use this information to target a rework of the pages on your site that are turning away your customers. Your goal should be to consistently reduce your bounce rate, with a goal of 0-10%, because this suggests customer satisfaction and service.
Learn How They Found You
Your internal site search tool should tell you what keywords or websites led your users to your website. By investigating their origins, you can determine what your potential customers are truly looking for. For example, if they search for a specific set of keywords that lead them to your website, they expect to see content about these keywords. If you aren’t providing the content or resources your customers expect, your bounce rate may increase.
Analyze SEO Traffic Quality
When you begin your optimization strategy, be sure to include high-quality content. However, even with high-quality content, you may have an unfavorable bounce rate. Your visitors may have a specific question they want to be answered, and they may not be interested in some of your other content. This could be part of why they don’t stay on your site. Investigate the reasons your visitors are going to your website and focus your online marketing efforts on your target audience.
Your analytics tools can tell you a lot about your online marketing strategies. Compare the results you receive to learn about your conversion rate and marketing effectiveness.
