Can Pinterest Help Brand --Segment 8

How Pinterest Can Help Your Brand

Posted on August 26, 2013 by John Okoye

Pinterest is a relatively new social media phenomenon that seems to be growing in popularity each year. Although it allows users to connect with images over words, it remains an increasingly powerful tool that brands can use to connect with each other, gain exposure, and attract new customers. Here are a few ways that Pinterest can help your brand:
Promote Events
Pinterest is a great way to advertise and promote upcoming events for your brand. If you are planning on holding a community event to acquaint your brand with local customers or if you have some promotional event that you want to get the word out about, Pinterest gives you a great platform to advertise it. Give life to your brand events by using  exciting visuals to draw people to your events.
Visual Connection
One of the biggest ways that Pinterest helps your brand is that it allows it to connect people in a captivating way. By putting great visuals to your company, you create an emotional connection with your customers that is powerful. You can use this medium to inspire, to compel and to communicate your brand message to potential buyers. This provides a sophistication and a creativity to marketing that is unlike most social network platforms. If your brand is looking for new and innovative ways to differentiate itself, Pinterest provides many opportunities to achieve this.
Newtek, the small business authority for Forbes believes that there is a strong correlation between the strength of an image and the amount of attention it attracts, “Across all social media avenues, posts with strong images attached to them get on average three times as much user engagement as those with no images. This is especially true on Pinterest. The more immediately captivating your pin is, the more likely it is to be repined”.
Uniqueness
Because of Pinterest’s visual-based platform, brands have a great opportunity to make themselves ....More

The Babies' Guide to Guerrilla Marketing --Segment 7

The Babies’ Guide to Guerrilla Marketing

Posted on September 2, 2013 by John Okoye

Marketing remains one of the most important aspects of any business. It often differentiates companies from their competitors and gives firms a chance to connect with customers on an emotional level.
A common misconception about this process is that it is solely about spending on advertising. The truth of the matter is customers seek a deeper connection than a run-of-the-mill commercial or transit advertisement.
This is where Guerilla marketing comes in. Not only does it allow small companies to connect with their markets in a powerful way, it does so at a reasonable cost so that businesses don’t have to cut too much into their bottom line in order to get customers.
Street art
Some of the best guerilla marketing you will ever see isn’t written on billboards or broadcast over the radio; it is in on the street, integrated into the community in plain sight. If there is an area that you feel your customers pass through often, feel free to advertise there with this method. Have a graffiti artist or an illustrator who is good with chalk draw a mural or witty saying that will connect with people. You might want to try different methods and track the success of each of them in order to see what works.
Check out this powerful Guinness ad we found on Creativeguerillamarketing.com.
Cool Shirts
On of the best ways to get people’s attention is to put really cool slogans on shirts. By placing your brand message on clothing that people can wear, you create a cult-like following that does a lot of your marketing for you. Use these as an opportunity to show your brand’s personality. Think long and hard about what kinds of people you would like to wear this shirt so that you can tailor a great message to that specific demographic.
Office Ads
Be resourceful. Sometimes the best opportunity for an engaging advertisement is right on your window. If your office is near a busy street, make a very compelling banner that you can hang in the window. It might surprise you the people that you will be able to attract to your doors with a really cool and creative ad. Remember that this kind ....More

Crowdfunding Increasing in Popularity --Segment 6

Crowdfunding Increasing in Popularity – Why Now?

Posted on October 1, 2013 by Deborah S. Hildebrand Harris

Estimates for annual crowdfunding transactions go as high as $500 billion annually compared to 2011’s $1.5 billion (anticipated to be $3 billion in 2012). If crowdfunding even begins to approach that scale, it will completely change the landscape for start-up financing.

 

This is what a post at Forbes.com noted in October 2012. In fact, a July 2013 CNNMoney.com post specifically cites that there are now over 600 crowdfunding platforms worldwide and the industry reached $2.7 billion in 2012. Pretty close to the Forbes.com 2012 estimate.

So, what is it about crowdfunding that makes it so popular and why now?

Basic Overview of How Crowdfunding Works

In general, crowdfunding allows entrepreneurs to accumulate capital funding for their business or project by tapping into multiple small investments from a large crowd of individuals. The investors learn about a project by visiting crowdfunding websites, such as Kickstarter.com and Indiegogo.com, a few of the more popular sites. The actual amount of financing an entrepreneur receives is dependent on their ability to market their idea properly.

The basic crowdfunding steps are easy. Entrepreneurs choose a crowdfunding website. Next, they upload a description of their idea or product along with a business plan, how much money they need to raise, and what ‘investors’ (known as funders or backers) receive in return for their investment. Sometimes funds are donations. However, in general funders expect some sort of non-financial reward, as getting equity stake is not yet legal..

Funders have several options, so it’s up to an entrepreneur to build a case for their idea. The amount each funder contributes is up to them. The crowdfunding site acts as a go-between, holding the funds in an account pending transfer to the entrepreneur or return to funders if the project never moves forward.

Crowdfunding Growing in Popularity

To illustrate how crowdfunding is blossoming, take director Spike Lee. In August, he used Kickstarter to fund his next film......More

The Pros and Cons of Rebranding --Segment 5

The Pros and Cons of Rebranding Your Small Business

Posted on August 25, 2013 by Clay Wyatt

Remember that gang-promoting, violence-glorifying rapper named Snoop Dogg? He died in 2012 – well, sort of. The man behind the international rap star, Calvin Broadus, is alive and well. However, you may now know him by his new name: Snoop Lion.
While Snoop’s name change may have seemed like a simple formality, it signaled a major transition in his brand. After all, the former “Death Row” rapper traded his brand for a new one as a reggae artist, a genre which he labels a “music of love.”
Should you follow in Mr. Lion’s tracks or stick with your current brand? Let’s discuss one, two, three and to the fo’ pros and a few cons to doing so (yes, I went there).
Pros
Attract new customers
By morphing into a lion (figuratively), Snoop positioned himself to attract new customers (reggae fans). The lion is the symbol of Rastafarianism, which is a major influence in the reggae genre.
Had he literally morphed into a lion, he’d have an additional customer base at the circus.
Differentiate from Competitors
In the 1990s, Target was seen as just another discount chain. Today, it attracts middle-class “yuppies” at its stores through exclusive deals with high-profile designers. In a nutshell, it decided to offer high-quality merchandise at affordable prices versus the junk often found at competing retailers....More

Crowdfunding --Segment 4

Crowdfunding Headed Toward a Curve in the Road

Posted on October 4, 2013 by Deborah S. Hildebrand Harris

Image courtesy of Exsodus atFreeDigitalPhotos.net

When most people think of crowdfunding, they likely think of a group of individuals pooling their funds to help a worthy cause. It’s not so much about a way to make money. It’s about being able to give back or being the first to get your hands on a new and interesting product. And generally, that’s how the whole idea got started.

However, like all new adventures, over time things change. In the case of crowdfunding, what started out as a simple tool to allow the haves to give to the have-nots has grown into something else.

Kiva.org Microlending Trend becomes Crowdfunding

According to the Mashable post, “The History and Evolution of Crowdfunding,” while microfinancing has been around for centuries, it came into its own in the mid-1970s through a research project launched in Bangladesh.

Its current iteration started in 2005 with the microlending website Kiva.org. Kiva established a platform that allowed individuals to lend in small amounts to poor, rural entrepreneurs around the world. The return rate has been nearly 99 percent.

In 2006, Prosper.com took microlending a step further by creating a peer-to-peer lending website. Borrowers could finance most anything, from a small startup to a family vacation. The benefit: interest rates were lower than financial institutions.

It wasn’t until 2009 that Kickstarter.com jumped into the fray with another new twist along with a new name: crowdfunding. Now instead of lending, crowds of people would pool their money for a concept – new product or idea – and in return, they would receive an incentive, such as a sample of the new product.

Next Twist in the Crowdfunding Story

There are four types of crowdfunding formats, according to the May 2012 Crowdfunding Industry Report by Massolution.

Equity-based and lending-based crowdfunding are designed for financial return and more closely resemble traditional financial lending. The other two are donation-based and reward-based crowdfunding, ......More

Business Fundability Explained --Segment 3

Business Fundability Explained

Posted on September 23, 2013 by Clay Wyatt

 

You probably never heard the word “fundability” in an elementary English class. Nor, did you hear it in high school and probably not in college, either. Yet, this fairly-recent business term is of critical importance if you ever intend to secure financing for your small business.
Simply put, fundability refers to how investors, lenders and other potential partners view the risk of extending credit or services to your business. It’s basically the business version of creditworthiness. For example, an investor will want to assess your business’s revenue prospects prior to pumping $100,000 into it, just like a bank will evaluate your payment and salary history prior to issuing a $40,000 auto loan.
So, we’ve discussed what fundability is. Now, let’s discuss a few factors that potential partners consider when making their determination.
Bank Relationships
Lenders often want to review your business’ bank relationships before extending credit. They may take factors such as account age, account history, balance rating and others into consideration.
Experience
When you apply for a home loan, lenders want to know how long you’ve worked in your current industry. They do so because the more experience you have, the more likely you are to retain your job or find a new one.
This logic comes into play when determining a business’ fundability, as a company that’s been around for 20 years is more likely to produce steady revenue versus one that opened six hours ago.
Industry
Due to various factors, some industries perform better than others as time goes on. And, potential sources of credit realize this and adjust their decisions accordingly....More

Business Credit and Personal Credit --Segment 2

Business Credit and Personal Credit, Never the Twain Shall Meet

Posted on September 26, 2013 by Deborah S. Hildebrand Harris

Oh, East is East, and West is West, and never the twain shall meet –

Rudyard Kipling

Rudyard Kipling said it well when he explained that some things will never unite. In the world of business, we believe that should include your business and personal credit. Here’s why.

The Credit World Today

More than 90 percent of businesses in the U.S. today are small. They have fewer than 25 employees and less than $20 million in annual revenue. Many of these small businesses may have little or no credit history.

While creditors routinely shy away from relying on both personal and business credit when determining the financial well-being of today’s small business owners, more and more lending institutions see them as closely linked, especially when it comes to sole proprietors. The reason, according to Experian, one of the top U.S. credit bureaus (along with Equifax and TransUnion for personal credit and Dun & Bradstreet for business credit), is that when small business owners have problems with personal debt, it’s likely their business will suffer as well.

The reverse is equally valid, however. Combining personal and business credit leaves you personally at risk should your business ever fail. Even so, nearly half of all small businesses use personal credit and debit cards to fund their business. Either way, combining personal and business credit leaves you vulnerable. That’s why it’s important to take the steps necessary to protect both your personal and business credit.

The Strategic Benefit of Knowing Your Business Credit Risk

As a small business owner, managing your credit – be it personal or business – all comes down to periodically monitoring, evaluating, and always protecting your credit. To do this requires due diligence....More

Money To Start My Music Business --Segment 1

Where is the Funding for Small Businesses in America?

As the United States economy struggles to rebound from the collapse in 2009 and subsequent recession, finding sources of funding for a small business isn’t quite as easy as it once was. The lending climate for small businesses in America is still in a bit of disarray, according to an article by the Washington Post. The article shows that federal officials, lenders and business owners aren’t in complete agreement about the availability of traditional financing to today’s small business owner.
The Small Business Administration is touting an increase in funding for small business, but even a $70 million dollar bump in the Impact Investment Fund doesn’t stretch very far among the many applicants looking for resources. While conventional funding for small business is a bit more elusive than in years past, there is still funding to be found for the creative entrepreneur who’s not afraid to think outside of the proverbial box. Whether you’re looking for financing to expand your business or just to keep the operation running through a rough patch, there may be more funding options out there than you realize. Creative funding programs have risen out of the ashes of the 2009 collapse. Also referred to as “alternative financing”, here are some examples…

True Business Credit Cards

Using the strength of your own credit to offset a dearth of business credit is a reliable way of generating funding for your small business expansion, or just to keep things running through difficult times. Flexible terms mean that you’ll generally only pay interest on the amount of money you actually use, and credit lines of up to $200,000 are .....More