Raise Your Recession Business Banking Rates and Get Funding Even in a Bad Economy

Do You Need to Know Just How Banks Determine Your Recession Business Banking Rates?

Banks are in the business of judging your company’s creditworthiness. This has a direct relationship to several important issues. Ignore these at your peril! It pays to take the time to try to understand how your recession business banking rates will work.

Recession Era Funding

The number of American financial institutions and also thrifts has been decreasing gradually for a quarter of a century. This is from consolidation in the market along with deregulation in the 1990s, decreasing obstacles to interstate banking. See: https://www.fundera.com/blog/happened-americas-small-businesses-financial-crisis-six-years-start-crisis-look-back-10-charts

Assets concentrated in ever‐larger banks is troublesome for local business proprietors. Big financial institutions are a lot less likely to make small loans. Economic recessions mean financial institutions become more careful with financing. For this reason, you need to understand your business bank ratings. It’s the only way you will be able to improve them.

Your Recession Business Banking Rates – It All Has to do With Your Bank Credit Score

But what’s that all about?

Did you know there are many ways you can ravage your bank credit score? It is, regrettably, quite easy to run a power saw through your bank rating. Your recession business banking rates can easily end up taking a hit.

But before going any further, do you know the difference between bank credit ratings and small business credit?

Business credit is the full and complete amount of cash that your small business can receive from all manner of lenders. That means credit unions, credit card companies, and also renting businesses. And it also means vendors, under what’s called trade credit or vendor credit or trade lines.

A bank credit score, on the other hand, is a measure of the full amount of borrowing ability which a company can get from the banking system only.

Bank Credit Scores Explained

A company can get more business credit fast . That is, as long as it has at least one financial institution reference. Plus it must have an average day to day account balance of at the very least $10,000 for the most recent three months. This setup will generate a bank credit rating of a Low-5. So this means it is an Adjusted Debt Balance of from $5,000 to $30,000.

A lower score, like a High-4, or balance of $7,000 to $9,999 will not result in an automatic turn down of the small business’s loan application. But it will slow down the approval process.

What is a Bank Rating?

A bank rating is a measure of the average minimum balance as kept in a business bank account over a 3 month long period. Hence a $10,000 balance| will rate as a Low-5, a $5,000 balance will rate as a Mid-4, and a $999 balance will rate as a High-3, etc.

A company’s chief goal ought to always be to maintain a minimum Low-5 bank rating (or, an average $10,000 balance) for a minimum of 3 months. This is because, without at the very least a Low-5 score, most financial institutions will assume a business cannot pay back a loan or a business line of credit.

Yet there is one point to keep in mind – you will never see this number. The financial institution will keep this number in its back pocket.

The Bank Rating Ranges

The numbers work out to the following ranges:

To get a High-5 rating, your business will need to have an account balance of $70,000 to $99,999. For a Mid-5 score, your business has to have an account balance of $40,000 to $69,999. And for a Low-5 score, your company should hold onto an account balance of $10,000 to $39,000. So your small business needs this level bank rating or better to get a bank loan.

For a High-4 score, your small business needs to have an account balance of $7,000 to $9,999. And for a Mid-4 rating, your company must have an account balance of $4,000 to $6,999. So for a Low-4 score, your company will need to have an account balance of $1,000 to $3,999.

Your Recession Business Banking Rates – It Can Be Scary Easy to Damage Your Bank Rating

And now, without further ado, here are 7 ways you can leave your bank score in tatters. These methods can all too easily hurt your recession business banking rates.

7th Way to Ruin Your Bank Credit

Don’t maintain a minimum balance for at least three months. Since every bank score cycle has a basis in the last 3 months, a seesawing balance will harm your bank score.

6th Way to Ruin Your Bank Credit Rating

Don’t bother to assure that your company bank accounts are on report the exact same way as all your small business records are. And do not assume they are on report with the exact same physical address (no post office box) and contact number. Sow confusion here by editing one and not another, or not dealing with an error if there is one.

Recession Business Banking Rates Credit Suite

Have a look at our expert research on bank ratings, the obscure reason why you will – or won’t – get a bank loan for your company.

Fifth Way to Destroy Your Bank Credit

To support # 6, don’t make sure that each and every credit agency and trade credit vendor likewise lists the business name and address the precise same way. This is every keeper of financial records, earnings and sales taxes. It includes web addresses and email addresses, directory assistance, etc.

No loan provider is going to think of the myriad ways that a company may be listed, when they check out the business’s creditworthiness. So if they cannot find what they need fast, they will refute an application. Or it won’t be on the report to a company credit reporting bureau such as Experian, Equifax or Dun & Bradstreet.

For that reason, if they are not able to locate what they need quickly, they will simply reject the application. So make certain your documents are a mess!

4th Way to Damage Your Bank Credit Rating

Never handle your bank account responsibly. This means that your small business must not avoid writing non-sufficient funds (NSF) checks at all costs. Such is due to the fact that those decimate bank ratings. Non-sufficient funds checks are something which no company can afford to let happen.

Balancing checkbooks and accounts is so boring anyway. You’ve got adequate cash without even making sure, right?

Third Way to Ruin Your Bank Credit Rating

To add to # 4, do not add overdraft protection to your bank account ASAP, to avoid NSFs. Why bother thinking in advance or preparing for the future? Everything is going to be terrific permanently, right?

Writing checks insufficient funds (NSFs) is a sure way to wreck your bank score.

2nd Way to Damage Your Bank Credit Rating

Do not let your business show a positive cash flow. The cash coming in and leaving your business’s bank account should reflect a positive free cash flow.

A positive free cash flow is the quantity of revenue left over after a firm has paid all its expenses. According to Investopedia, it “represents the cash a company can generate after required investment to maintain or expand its asset base. It is a measurement of a company’s financial performance and health.”

When an account shows a positive cash flow it indicates your small business is generating more revenue than you use to run the firm. That means the bank will feel your small business can cover its costs.

So if you really intend to wreck your bank score, get whatever’s expensive for your company so your costs overtake your profits. Doesn’t every factory merit luxurious carpets in the loading dock?

Recession Business Banking Rates Credit Suite

Have a look at our expert research on bank ratings, the obscure reason why you will – or won’t – get a bank loan for your company.

First Way to Damage Your Bank Credit Rating

Financial institutions have quite the motivation to lend to a small business with consistent deposits. And an entrepreneur must also make regular deposits to keep a positive bank rating. The business owner has to make a lot of regular deposits, greater than the withdrawals they are making, to have and maintain a great bank rating. If they can do that, then they will have a great bank credit score.

Consistency is the hobgoblin of little minds, right? So be a free spirit!

Your Recession Business Banking Rates – It is Way too Easy to Destroy Your Company’s Bank Score – Even Though You Will Never See It

You, the entrepreneur must never make consistent deposits. And these deposits ought to never be more than the withdrawals you are making, to ruin your bank credit.

If you can do these things, then your company will have a horrible bank credit score. And then a bad bank credit score means your firm is much less likely to get small business loans. This is how you can truly muck up your recession business banking rates.

Your Recession Business Banking Rates – Just Kidding: Of Course We Do Not Actually Want You to Destroy Your Company’s Bank Credit Rating!

But your recession business banking rates are a thing of value. You should want to protect and nurture it. So, where do you go from here?

The First Great Way to Rescue Your Bank Credit Rating

Probably the easiest way to achieve and maintain an excellent bank credit rating is to deposit at least $10,000 into your company bank account. And keep it there for as much as six months. While you will still have to make regular deposits, this one simple step will assist in 3 ways. One, you will have kept an excellent minimum balance for at the very least 3 months. Two, you will probably not overdraw with such a great balance. And three, you will be at the magic minimum for a Low-5 bank credit rating. Thus you will be dealing with our # 4 and # 7, above.

And you may even have the ability to get around our # 3. But we still highly recommend overdraft protection.

Recession Business Banking Rates Credit Suite

Have a look at our expert research on bank ratings, the obscure reason why you will – or won’t – get a bank loan for your company.

The 2nd Excellent Way to Rescue Your Bank Credit Rating

A 2nd thing you can do is make certain your small business account details are consistent across the board, everywhere. While it may take some work order to make certain every little thing is right, you will be dealing with our # 5 as well as # 6, above.

The Third Great Way to Rescue Your Bank Credit Score

A 3rd thing you can do is make consistent deposits, as well as make sure they are greater than the quantities you are withdrawing each month. This will take care of our # 1 and also # 2.

Your Recession Business Banking Rates –Takeaways

Your bank score is not to be trifled with. The financial institutions maintain a mystery about them. Still, failing to keep your bank credit rating high will make it a whole lot harder to do well in business. In this way, you can defend and improve your recession business banking rates.

The post Raise Your Recession Business Banking Rates and Get Funding Even in a Bad Economy appeared first on Credit Suite.

How Using Emotional Marketing in Content Can Help Drive Way More Sales

Whether you care to admit it or not, the decisions you make today will be driven by your emotions. In emotional marketing, we talk a lot about using psychological triggers to get customers to click, convert, engage, etc.

“By leveraging common psychological triggers all people have,” you might hear, “you can drive more sales.”

While it may feel like we make decisions with our minds, using logic and reasoning, the “mental triggers” we hear about are tied more to emotion than anything else.

Case in point, Antonio Damasio spent time studying individuals with damage to the area of the brain where emotions were generated and processed.

While these subjects functioned just like anyone else, they couldn’t feel emotion.

The other thing they had in common was they all had trouble with making decisions.

Even simple decisions about what to eat proved difficult.

While they could describe what they should be doing using logic and reason, most decisions couldn’t be settled with simple rationale.

Without emotion, they weren’t able to make a choice.

This is supported by data from Gerard Zaltman, author of “How Customers Think: Essential Insights into the Mind of the Market.”

Zaltman found that 95% of cognition happens beyond our conscious brain, instead coming from our subconscious, emotional brain.

ecards emotional marketing

Emotions are an X factor you can’t control, but you can’t afford to ignore them in your content marketing.

Why is Emotion Marketing so Effective?

When you make an emotional connection with your audience, it’s incredibly easy to steer them to the desired outcome.

You’ve formed an emotional bond, however brief and fleeting, that makes them open to ideas and suggestions. It creates a certain level of trust that’s virtually impossible to artificially manifest.

Rob Walker and Joshua Glen found firsthand what an emotional connection can do.

In one experiment, they bought hundreds of items from thrift stores and similar locations — all cheaply priced.

The duo wanted to see if they could sell the products using an emotional connection through the power of stories alone.

With 200 writers on board, they generated fictional stories for the products and used those stories to sell the thrift store items at auction on eBay.

significantobjects example | Emotional Marketing

They raised just under $8,000, which was a profit of approximately 2,700%.

And they did it all using that emotional connection through storytelling.

That’s not to say there isn’t a place for the logical or the rational in decision making.

This is where marketers often leverage the theory of dual processing in psychological marketing.

The theory holds that the brain processes thoughts and decisions on two levels.

Emotional Marketing dual process

The first level is that of emotion, which processes automatically, unconsciously, and provides a rapid response when we need it with virtually no effort.

The second level is the more deliberate and conscious thought process, where we handle decisions with reason and logic. It happens far slower than the emotional response.

In most cases, we fire back with a ready response from our emotions and then try to consciously rationalize it.

Think about some big-brand rivalries and preferences will surface in your mind.

How do you feel when you look at this major brand comparison?

brand rival in Emotional Marketing

Here’s another common one that has people divided, sometimes within the same family:

brand rival example in Emotional Marketing

And then there’s this brand rivalry we know all too well.

Jobs vs Gates in Emotional Marketing

In each of these, you likely have an opinion almost instantly about which you prefer, but it’s not because you have a logical reason.

It’s typically tied to emotion and/or experience; how you feel using their products, or how the brands left you feeling after an experience or reading a news article.

The brain then tries to rationalize that emotional response.

For example, your emotional response goes straight to Coke and then your brain works to rationalize the decision by deciding that it tastes better in a can, it’s fizzier, has a stronger bite than Pepsi, etc.

So, while you might feel like you’re making a rational choice about your beverage, it’s really just an emotional one.

The most successful marketers know how to lean on the emotional over logic in order to make their content draw in the audience.

That’s why nearly a third of marketers report significant profit gains when running emotional campaigns, but the number of successful campaigns dips if you introduce logic into the marketing.

emotion logic in Emotional Marketing

And those results get sliced in half when marketers switch to logic over emotion.

Emotion Marketing Doesn’t Guarantee Successful Engagement

We experience a laundry list of emotions every day.

Is it really as simple as leveraging some emotion to make content more effective?

Yes and no.

Emotion is certainly important, but there are also other factors like timing, exposure, the format of the content, how it’s presented, who produced or shared it, etc.

Despite understanding the role emotion plays in content, we still haven’t quite perfected a formula for what makes content go viral.

Though we’ve gotten pretty close.

Brands have long tried to inflate the consumer’s emotional response through manufactured content; some met with great success.

Take, for example, Intel’s five-part “Meet the Makers” series.

The videos profile a person around the world who uses Intel’s technology to create new experiences and build new technology that makes a difference in the world.

intel in Emotional Marketing example

Like 13-year-old Shubham Banerrjee, who used Intel’s technology to build an affordable Braille printer.

intel 2nd Emotional Marketing example

And of course, some companies try to leverage emotion and create viral campaigns that just don’t take off.

CIO reported a number of failed viral marketing campaigns, such as “Walmarting Across America.”

In this blog, two average Americans travel across the country visiting Walmart locations, reporting their interactions on a blog along the way.

After countless upbeat entries about how people loved working for the company, it was discovered that the trip was paid for by Walmart and the entire thing was a campaign created and managed by the company’s PR firm.

That didn’t receive a warm reception from the blogosphere, which deemed the content to be a “flog” or fake blog.

Which Emotions Attract the Most Marketing Engagement in Content?

Many emotions fuel our behaviors and our decisions, especially our purchase decisions.

Some more than others — especially when they’re authentic.

A study was done by Buzzsumo analyzing the top 10,000 most-shared articles on the web. Those articles were then mapped to emotions to see which emotions had the greatest influence on content.

The most popular:

  • Awe (25%)
  • Laughter (17%)
  • Amusement (15%)
popular emotion | Emotional Marketing

Conversely, the least popular were sadness and anger, totaling just 7% of the content that was most shared.

Two researchers at Wharton also wanted to dig deeper into virally shared content to find commonalities and better understand what makes that content spread.

What they found was the emotional element, and some very specific results tied to emotions.

  • Content is far more likely to be shared when it makes people feel good or it creates positive feelings such as leaving them entertained.
  • Facts or data that shock people or leave them in awe were more likely to be shared.
  • Instilling fear or anxiety pushes engagement higher, from comments being posted to content being shared.
  • People most commonly shared content that incited anger, leaving comments as well.

While some emotions are more likely to engage than others, every audience is different. What drives one to action may do very little for another.

This modern adaptation of Robert Plutchik’s Wheel of Emotion, illustrated by CopyPress, shows the range under eight primary emotions: joy, trust, fear, surprise, sadness, disgust, anger, and anticipation.

emotion wheel in Emotional Marketing

For content to be widely shared and have an impact on your audience, it needs to leverage one or more of these emotions.

The proof is on the web, not only in the statistics I shared above, but also in the popularity of user communities that regularly share content.

Just look at Reddit and some of the most popular subreddits by subscriber count. Each can be tied back to emotions (some more obviously than others) like anticipation, awe, joy, and more.

subreddits Emotional Marketing example

Here’s how some of those emotions can play into the engagement with your audience:

Anxiety May Cause Uncertainty For Customers

You don’t want your audience to make bad decisions. Bad decisions can lead to buyer’s remorse, which can paint your brand and the overall experience in a negative light.

But it can be helpful if you leave the audience a bit more open to influence.

A Berkeley study revealed that anxiety can be linked to difficulty in using information around us to make decisions. When we experience uncertainty, it becomes harder to make decisions and our judgment is clouded.

anxiety example in Emotional Marketing

Still, anxiety can also spur people to act as a result of that uncertainty.

Take a two-year study by Wharton Ph.D. student Alison Wood Brooks and a Harvard Business School professor.

They found that upon increasing the anxiety of certain subjects with video footage, 90% of the “anxious” participants opted to seek advice and were more likely to take it.

Only 72% of the participants in a neutral state, who viewed a different video, sought advice.

Capture the Focus of Your Emotional Marketing Audience With Awe

Awe is comparable to wonder, but it doesn’t always fall under the umbrella of joy or humor.

It’s intended to captivate the audience and keep them riveted.

You often see this kind of hook in headlines that seem so earth-shatteringly significant that no one in their right mind would want to miss it.

Here’s a good example of that kind of awe used in content when Dropbox first launched.

dropbox start | Emotional Marketing example

Co-founder Drew Houston submitted his product to the website Digg, hoping to get some visibility from the social bookmarking site. That headline helped significantly.

Another great example of using Awe to capture attention is a video produced by Texas Armoring Corporation.

To emphasize the quality of the company’s bullet-resistant glass, the CEO crouched behind one of TAC’s glass panels while several rounds were fired at it from an AK-47.

Awe can impact decision making as much as anxiety.

A study from Stanford University found that people experiencing awe are more focused on the present and less distracted by other things in life. They also tend to be more giving of their time.

When you have their attention and their focus, they’re more likely to have time to rationalize a decision.

Drive People to Action With Laughter and Joy Through Emotional Marketing

While joy and laughter can have their lines blurred, they’re really two different emotions when it comes to your content.

Because while laughter often leads to joy, not everything that is joyful is laugh-out-loud funny.

Still, next to awe, joy, laughter, and amusement were the highest contributors to social sharing and engagement in the above studies.

That influence goes all the way back to early childhood.

As babies, out first emotional action not long after being born is to respond to the smile of our parents with our own smile.

social smile | Emotional Marketing

Per psychoanalyst Donald Winnicott, joy and amusement are hardwired into us from birth.

His studies tell us that our innate desire for joy increases when it’s shared. That’s the nature of the “social smile.

That explains why these feelings or emotions are such huge drivers behind the virality of content. Happiness, overall, is a huge driver for content sharing.

In fact, Jonah Berger’s study of the most-shared articles in the New York Times (around 7,000 articles) revealed the same kind of results around emotion.

The more positive the article, the more likely it was to go viral.

Brands have worked “joy marketing” into their strategies for decades, aiming to make their audience feel warm, comfortable, and happy.

That’s the intent of campaigns like P&G’s highly successful and viral “Thank You, Mom” campaigns that are injected with a lot of emotion (especially joy) when celebrating the strength of mothers.

pg

Joy can take a lot of forms, though, and it doesn’t have to be commercially intended to elicit a direct sale.

Look at what Beringer Vineyards did with influencer marketing.

Russian Instagram sensations Murad and Nataly Osmann built a following of more than 4.5 million people with photos featuring them holding hands at locations around the globe during their world travels.

They attached the hashtag #FollowMeTo on those posts.

muradosmann example Emotional Marketing

The couple teamed up with Beringer Vineyards to create some images meant to inspire joy, love, and of course the sense of adventure the couple already shared with their hashtag.

beringer example | Emotional Marketing

Immediate Gains in Emotional Marketing From Anger

Anger may be perceived as a negative emotion by some, but it can have positive influences as well as positive outcomes when leveraged in the right way.

A leading researcher in the study of anger, Dr. Carol Tavris, draws a parallel between anger and how it impacted society over the years.

Women’s suffrage, for example, developed from anger and frustration.

Anger can be empowering for the individual, bringing a sense of clarity and positive-forward momentum. It gives people a feeling of direction and control according to a study from Carnegie Mellon.

In the previously mentioned study on content shares in the New York Times, negatively perceived emotions like anger are equally associated with the virality of content.

angershare in Emotional Marketing

In fact, Berger’s study of the New York Times content found that content which incites feelings of frustration or anger is 34% more likely to be featured on the Time’s most emailed list than the average article.

Now, I’m not suggesting that you deliberately create controversy by taking shots at readers or picking fights.

The key with using anger in content is to frame an issue that incites anger or frustration in a way that’s constructive.

You have to be thought-provoking and engaging.

This interactive graph from the New York Times is an example of how content can lead to frustration and anger over economic or societal issues.

interactive chart NYT in Emotional Marketing

This piece of content is simple, yet it provokes engagement as well as thought when results are revealed in comparison to what an individual perceives to be the truth.

Using the Right Emotional Marketing Words in Content

The difference between logic and emotion in content comes down to the words we use and how we position statements and information.

It’s just like the laundry list of power words used to improve conversion, or terms commonly used in e-commerce to get customers to buy more products.

ecommerce words in Emotional Marketing

When creating copy and content, you have to be acutely aware of whether you’re taking a rational or emotional approach to the information you’re sharing.

You need to think about the response you want to elicit to help guide your content development to make the right kind of psychological and emotional connection with your audience.

rational and emotional mind in emotional marketing

The context of your copy can remain the same.

By changing the words you use, however, you can make content appeal more to the emotions of the audience and prospective customer.

The simplest approach to finding the right high-emotion words takes only three steps:

  1. Think about the action you want your audience to take when they read your content.
  2. Decide what kind of emotional state will drive that action. What would make them do what you want them to do?
  3. Choose emotionally persuasive words appropriate to the action and the emotion.

What you’ll find in researching the right words is that emotionally persuasive and impactful words tend to be abrupt. It’s the short, concise, basic words that appeal most to our emotions over our intellect.

Just look at this list from the Persuasion Revolution.

emotional words in Emotional Marketing

The majority of this emotionally weighted list (and there are over 350 items) is made up of shorter words.

The rational mind, on the other hand, tends to associate with longer and more complex words.

rational words in Emotional Marketing

You Can’t Assume When it Comes to Emotional Marketing

It’s not easy to make that emotional connection with your audience. You have to know them.

Like anything else in marketing, your decisions and the content you create needs to be based on data. In this case, that data is your audience research.

That same research that tells you what topics to create, where your audience spends their time, and the content they prefer to view, can clue you into how to make that emotional connection.

You just need to expand your buyer personas.

buyer personas demographics in Emotional Marketing

In this case, you want to build up the psychological profile of your audience. You can achieve this by asking the right questions to help steer your content research and production.

  • What do they find humorous?
  • What are the pain points that frustrate them?
  • What topics make them angry?
  • What are common problems they speak about?
  • What kind of content is being shared that clearly pleases them or brings joy?

Your research could turn up a common topic or theme that appears frequently in the content they read and share.

For example, you might discover that a certain segment or demographic in your audience has a strong affinity to family values, or health and wellness.

Turn that into a content campaign that shares the feel-good side of your company.

Delve into the family life of your employees, how your company supports the work/life balance, or better health initiatives.

Google is well known for its company structure, promoting flexible schedules, support of family time, personal projects, and a focus on work/life balance.

The company often shares behind-the-scenes images (visual content) showing off employees enjoying what they do. Here’s an example from Google Sydney’s offices:

google sydney | Emotional Marketing example

That can influence a positive emotional response toward the brand when targeted segments see that content.

Emotional Marketing Works in the B2B Process

Don’t get caught up with the dated idea that emotion is only applicable to consumer-focused businesses.

Emotional marketing has its place in the B2B world as well.

You may be dealing with a longer buying process between one or more organizations, but the decisions are still made (and fueled by) people who are absolutely driven by emotion.

That includes emotions like:

  • Awe: over what a solution is capable of and feeling empowered to bring that solution to the workplace.
  • Anticipation: in finding a piece of the puzzle in a product or service that will help the company achieve its next goal or milestone.
  • Fear: in purchase decisions that could reflect on the individual, resulting in a personal risk associated with a B2B purchase.
  • Joy: in knowing that a B2B purchase is likely to lead to a positive outcome that will reflect positively on the individual.

Emotion absolutely influences B2B purchases, and in some cases, emotion matters even more than logic and reason.

Conclusion

You hold a great deal of influence with your audience when you’re able to tap into their emotions.

Once you understand your audience, you can better determine their emotional state.

From there, make the decision about whether you need to influence and exploit emotions that are already present, or if you want to create or give rise to emotions the audience wasn’t initially expecting or experiencing.

Even the most (seemingly) rational decisions are influenced by emotion — and that applies to everyone.

When you learn how to leverage that emotion in your content, you will see increases in engagement, social action, and conversions within your funnel.

How do you use emotion in your content and copy?

The post How Using Emotional Marketing in Content Can Help Drive Way More Sales appeared first on Neil Patel.

The Good and Bad of Deadstock Products for E-commerce

E-commerce retailers face many obstacles in the realm of online business.

A common yet persistent issue is deadstock products.

The accumulation of deadstock inventory can drive up operational and warehouse costs. As more products enter the warehouse, the cost of storing unsold items can drain the valuable financial resources of your business.

What’s more, seasonal trends and products make it difficult to eliminate deadstock products completely.

How to solve this problem? This article explains how to avoid deadstock and how to get rid of it when it piles up in your warehouse.

Let’s start with the definition for deadstock first.

What Does Deadstock Mean?

Deadstock is synonymous with dead inventory.

These are items that haven’t been sold and are very unlikely to sell. If you don’t use an inventory management system, these goods likely pile up and remain forgotten in your warehouse.

An alternative definition of “deadstock” refers to goods that are no longer sold in stores. In this case, these deadstock goods, like unused or unworn shoes or vintage apparel, are sold at much higher rates.

For the purposes of this article, we won’t explore the latter definition in this post.

Is Deadstock Bad for Business?

Deadstock comes with a price.

Retailers won’t be able to recoup the cost of manufacturing products if they never sell.  

As a result, unwanted items take up space in your warehouse. A longer stay means more storage costs for your business.

How to calculate deadstock? To understand its consequences for your business, calculate the costs involved in holding onto these useless products.

List rental costs, utilities, equipment, insurance, and security used to guard your items.

Ideally, businesses make up for these costs through sales, but deadstock products remain stagnant in your warehouse. Instead of making a profit, retailers pay to keep these useless goods.

Deadstock also has an attached opportunity cost.

The space occupied by these items could have been used for “headstock” or highly profitable and bestselling items, which instantly make a profit for your business.

How to Avoid Deadstock

In my experience, you need to avoid deadstock as much as possible.

Business of Fashion reports that dead inventory costs around $50 billion per year for the US retail industry.

If a retail brand’s standard margin is around 60%, then a deadstock worth $40,000 represents around $100,000 worth of retail sales and $60,000 of gross margin dollars.

I’ve advised a lot of e-commerce stores, and I can tell you it’s best to avoid deadstock than to wait for it to snowball at a later time.

So today, I’ll share tips for avoiding deadstock.  

1. Improve Inventory Management For Less Deadstock

Inventory management is a major cause of deadstock.

Fortunately, an inventory management system can guarantee your inventory is monitored and managed appropriately.

Here are some popular inventory management systems:

  • inFlow Inventory: an inventory management system that can manage up to 100 products.
  • Sortly Pro: a cloud-based inventory management system that can handle up to 100 transaction entries per month.
  • Odoo: a free open source enterprise resource planning (ERP) solution.
  • ZhenHub: a cloud-based inventory management system for small and medium-sized businesses (SMBs).

There is no right or wrong inventory management system. Instead, find a solution that meets your needs.

Once you have a system in place, keep track of the products on your shelves, as well as those that end up as dead inventory. In addition, you must identify the products with no sales or low sales for the past year.

An intelligent inventory management system can identify bestselling items, allowable return dates, expiration dates, as well as flopped goods you’re better off without.

2. Discount Potential Deadstock Items

Pay attention to what’s selling and what’s not.

Take into account the latest market trends. What are the popular products people love? How long will this trend last?

Seasonal products might be selling like hot cakes for the first few weeks, but the excitement fades eventually.

A good tip is to discount potential deadstock items by hosting end-of-season sales.

For example, Patagonia, The North Face, and H&M frequently have end-of-season sales to sell their jackets and coats once the winter season ends. This way, they can get rid of deadstock items and make way for next season’s collections.

Perishable goods won’t be sellable after their expiration date has passed. That’s precisely why you must monitor items that will almost reach their expiration date and then offer them at discounted prices.

Tools like Wasteless utilize AI to prevent food waste through a dynamic pricing model. By using machine learning, they can use variables like brand popularity, seasonal popularity, and expiration dates to determine the real-time price of perishable goods.  

Deadstock products for e commerce Wasteless tool

Of course, your profit margins will be lower than expected for discounted products. However, a discount helps you get rid of unpopular products, and it’s a lot better than stocking these goods in a warehouse and paying more for storage.

At the very least, you have an opportunity to make up for the manufacturing costs and break even.

3. Know Your Target Audience

This happens all the time: You promote the product, but it just won’t sell.

If an item remains unsold despite numerous promotions, your target audience probably doesn’t want them.

Every time you source potential products to sell, you must understand the conditions you are dealing with.

This is why market research and surveys are crucial to your success. The socioeconomic profile, gender, location, and interests of your audience can predict the outcome of the sales of your store.

So, before you pay for manufacturing costs, ensure your consumers want the product.

To get started, create a marketing persona for your online store. This doesn’t have to be complicated.

Here’s an example of a marketing persona that considers the demographics and characteristics of your consumers:

Deadstock products for e commerce Know your target audience

Another idea is to perform market research by sending regular surveys to pinpoint your customers’ needs. I highly recommend getting current customers as respondents because they’ve experienced your product and likely fit with the profile of your target market.

Survey Monkey recommends asking these questions to evaluate the product/market fit.

  • How did you find this product?
  • How would you feel if this product was no longer available?
  • What are the benefits of using this product?
  • What alternatives would you use if this product was no longer available?
  • Have you recommended using this product to anyone?

It’s best to conduct surveys regularly to identify opportunities within your target market.

Also, understand the items and trends that customers love and take them into consideration for future product releases. You can use inventory management software to identify products that sold out quickly to make sure you’re selling the products that shoppers need.

Having more bestselling items is key to the elimination of deadstock, and while you won’t always be able to sell 100% of items in your inventory, knowing your customers and assessing product/market fit will help reduce the accumulation of deadstock.

4. Diversify Your Products to Avoid Deadstock

You may opt to sell bestselling items only to avoid deadstock completely.

However, you must guarantee that most of the bestselling items in your store don’t have the same features or characteristics. Otherwise, you can get more deadstock too.

Having too many similar items may mean cannibalization. Some customers may prefer one brand or item over another, which leads to low sales numbers for other goods.

This is common for retailers offering similar items from multiple brands.

Diversify your product inventory to avoid this consequence.

A good tip is to add complementary products of existing items in your e-commerce store. For starters, complementary goods are products that are used together. They may be completely different from an item you’re selling, but their combination of complementary goods will sweeten the deal.

For example, if you’re an iPhone retailer, then add iPhone cases and accessories to your arsenal. As the value of the latest iPhone decreases, it may become more mainstream. Thus, more people will be buying your cases and accessories in the future.

Deadstock products for e commerce Diversify your products

Alternatively, you can offer an assortment of related products, instead of selling them separately.

For instance, Harry’s – a men’s grooming brand – offers a “Truman Set,” which includes a foam shave gel, blades, and razors packed in one convenient package.

Deadstock products for e commerce men s grooming brand

How Do I Get Rid Of Deadstock?

Now, if you already have deadstock, it’s time to get rid of it.

Here’s what you need to do.

1. Return Deadstock Items To Suppliers

If you’re in the window to return, this may be the best option.

In the short-run, you’ll pay a small fee, but at least you can avoid a major loss and more deadstock.  

As long as the items are in good condition, you may be able to return them to the supplier. However, review the return policy of suppliers first to guarantee they allow this method.

Most suppliers have a restocking fee worth 10% of the merchandise. You’ll likely get an option to pay in credit rather than cash.

2. Put Deadstock in Clearance Sections and Bundles

What if you sold some items at a discount, but it just won’t sell? You can take it even further.

Find out the lowest price that you can sell these products. Then bundle related and complementary products together and sell them as a set.

For example, Glossier bundles related items together and offers them at a discounted price. Many beauty enthusiasts prefer a complete set sold at a discounted rate, rather than purchasing a single item with no discount.

Deadstock products for e commerce Put deadstock in clearance section

If you have a lot of stocks with the same item, get rid of them through freebies and giveaways. Consumers love to get free stuff, so it may compel them to return to your online store and make a purchase.  

During the holidays, you can bundle items to create holiday gift sets with an assortment of products.

For example, Soko Glam bundles miniature-sized skincare products and sells them as a gift set for the season of giving. Plus, customers who make orders above $135 will receive a Dreamy Satin Pillowcase while supplies last.

how to get rid of deadstock

3. Sell to Deadstock Buyers

You’ll likely lose some cash, but getting some money back is better than a total loss.

Here are some deadstock buyers to consider:

  • Wholesale: If you have a lot of deadstock in good condition, you can sell them to wholesalers. For clothing retailers, popular boutique wholesale clothing suppliers include Sugarlips Wholesale, Bloom Wholesale, Wholesale Fashion Square, Tasha Apparel, Magnolia Fashion Wholesale, and LAShowRoom.
  • Amazon Seller Central: Amazon has a Seller Central where you can adjust the pricing or match your competitor’s lowest price.
  • eBay: Deadstock consisting of repaired or returned products could be sold to eBay at drastically reduced costs.
  • Consignment shops and warehouses: These buyers usually purchase clothing, home goods, and old items that could be sold at low prices.
  • Closeout liquidators: These businesses can buy a bulk of your deadstock and resell it in their own stores at cheaper prices.

4. Donate Deadstock to Charities

Finally, if a product just won’t sell, consider donating it to charity.

Donating to charity is a popular option for clothing retailers. You can sell deadstock items to discount stores like T.J.Maxx or the Outnet as a last-ditch attempt to make sales.

Some foundations like The Salvation Army and Oxfam accept donated clothes.

We bet there are many charities in your local communities and cities. You can donate to any organization, just make sure it’s legal. Find a reputable charity where you can sell your items.

While you may not be able to sell these goods, you can claim a tax write off for donating them. If handled well, this initiative will make your business look good.

Conclusion

If you want to eliminate deadstock products, make an active effort to find products that will sell.

Use an inventory management system to track unwanted items in your inventory. Bundle deadstock products and sell them as gift bundles or give them away as freebies. As a last resort, you can even sell deadstock products to wholesalers, consignment shops, Amazon, or eBay.

There are many options to avoid the accumulation of deadstock and get rid of unsold items stuck in your inventory,

How will you avoid deadstock products?

The post The Good and Bad of Deadstock Products for E-commerce appeared first on Neil Patel.

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How to Grow Your Local Business During Uncertain Times

No doubt this is a hard time to grow a local business. Coronavirus has likely forced you to make big changes to the way you operate. It’s almost certainly hit your bottom line too.

However, it’s still absolutely possible to grow your local business at a time like this. You just have to be smart about it. In this article, I’ll talk you through how to do that. First, though, here’s a bit of detail on why this is such a challenging time for businesses like yours.

The Effects of the COVID-19 Pandemic on Local Businesses

You’re probably sick of reading and hearing the word “unprecedented.” I know I am. Unfortunately, it’s just the best word to describe the current climate for local businesses.

By the end of March, 32 states had locked down in response to the pandemic. Two in five small businesses across the US had temporarily closed by this point, with nearly all of those closures due to COVID-19.

Closing your doors has big financial implications. It is concerning that the vast majority of local businesses aren’t in a position to handle even short-term pressure on their earnings, with around four-fifths only having up to two months of cash available to pay their expenses.

pasted image 0

Because of this, it’s hardly surprising that the number of active business owners in the US plummeted by 3.3 million (or 22%) in the two months from February to April alone. That’s the largest drop on record, and it affected practically every industry.

Luckily, if you have access to the right strategies (like local promotions) and tools (such as messaging services like Podium), you may still be able to grow your business even in these uncertain times.

Six Strategies to Grow Your Business During the Age of Coronavirus

The pandemic might have affected your business growth in any number of ways. Maybe you’ve been forced to shutter your store(s) for a certain amount of time. Maybe your customers are buying less at the moment. Or maybe the industry you’re in means you’ve barely even got a “product” to sell, like cinemas and travel companies.

Whatever the case, if you’re going to grow your local business in the current climate, you need to adapt. Here are tips on how to do it:

1. Use the Right Tools

I know what you’re thinking: “I’m already worried about cash flow, now this guy’s telling me to invest in a bunch of tools!” Well, what if I told you that by choosing the right tools (some of which are free, by the way), you massively increase your chances of growing your local business?

You likely know that there are thousands of tools designed to drive small business growth, but I’ve focused on the areas where you can really shift the dial:

Issue: Customer Messaging

There are so many benefits to improving your communications with existing and potential customers.

You can generate more reviews, which act as a trust factor and make your business more credible. You can collect payments faster and with less hassle. You can issue more timely (and more effective) reminders, reducing the chances of no-shows.

To solve your customer messaging you can use a tool like Podium. Here’s how I use it:

  1. Set up one inbox to rule them all: What’s the biggest barrier to better communications? Trying to keep track of all your different platforms. Customers could be messaging you via Facebook, Twitter, phone, and your website (and maybe a bunch of others, too). Podium brings all those communications together in one place, ensuring you never miss a message.
  2. Connect remotely with website visitors: Ever wish you could get closer to the people on your website? Find out what stops them from buying or converting there and then? With Podium, you can. Add live chat to your site and every time they ask a question, they’ll automatically move to a text conversation, so you’re no longer tied to your computer (and nor are they).
  3. Enable on-the-go customer service: You likely don’t have a dedicated customer service team. In fact, you might be your whole customer service team. So what happens when you’re not at your desk or in the store? Stuff gets missed! Podium allows you to text quick responses when you’re out and about, so you never leave anyone hanging.
  4. Chat face-to-face: Texting is great. But sometimes it’s just not the best way to respond to a customer or prospect. Maybe they’ve got a complex question or require a nuanced response that’s hard to tap out on your phone’s keypad. Podium offers video chat software that makes connecting remotely with customers as easy as sending a text. Send your customers a link and you can be video chatting in seconds, making it super simple to show details, answer questions, and share your screen.
  5. Create tailored promotions: Say you own a coffee shop. You run a loyalty program and you’ve captured your best customers’ email addresses and phone numbers. Wouldn’t it be great if you could quickly send those customers targeted promotions? Maybe offer them a deal on a new single-origin coffee you’ve just started stocking? You can do that as well.
  6. Provide to-the-minute advice and updates: There are a lot of variables in the world right now. Customers might want to know how busy you are at a certain time, or what measures you’ve put in place during the pandemic. Or they might have product-specific questions. A customer messaging platform makes it easier for you to respond in real-time.

Oh and an easy way to get started is to just sign up for a free Podium account.

Issue: Scheduling Meetings

No one likes scheduling meetings at the best of times. Throw coronavirus into the mix and it becomes even more of a challenge. Should it be in-person or remote? Which platform should we use? What date and time work best?

Meeting schedulers are designed to handle the legwork for you. One of the best is Arrangr, which reserves tentative meeting times, automatically frees up untaken slots, and can even suggest the ideal location for all parties.

Another great option is Calendly. Integrating directly with your Google or Office 365 calendar, it gives you a personalized URL that allows customers to see your availability and schedule their preferred meeting time. Best of all, there’s a basic free plan available.

Issue: Email Automation

You can’t grow a local business at a time like this without doing some marketing.

Unfortunately, you likely don’t have time to build and execute complex campaigns.

That’s why you need email automation software! One of the most popular tools, Mailchimp, helps you send effective email marketing communications at scale. In fact, Mailchimp claims to boost open rates by 93% and click rates by 174% compared to the average bulk email.

Customer Relationship Management

Your customer relationships have never been more valuable than they are right now, so you need to manage them effectively. To do that, you need to invest in a customer relationship management (CRM) tool.

There are a bunch of CRMs aimed at local businesses, but HubSpot Sales Hub is one of the most popular. It’s loaded with sales engagement tools, pricing functionality to help you deliver complex quotes, and analytics software to measure what’s working (and what isn’t).

2. Improve Your Digital Marketing Strategy

In more “normal” times, you might not put a lot of thought into your marketing. Maybe you just write the occasional social post or send a couple of email promotions a month.

During times of uncertainty, that just won’t cut it. People have a lot on their minds right now, so that one baseball gif you tweeted isn’t going to have much impact.

You need a proper digital marketing strategy.

Let me give you an example: you sell business supplies to other local businesses.

Because you’re small and local, your big differentiator is your flexibility and bespoke approach. You can source whatever product your customer needs, your delivery times are rapid, and you’re easy to reach. That’s the sort of stuff you talk about in your marketing emails.

Well, wouldn’t it be good if you made that the foundation for a whole campaign?

Maybe you create a bunch of case studies and testimonials that show your unique selling point, (USPs), in action. You build a mailing list of local firms you’d love to do business with, and drip-feed your content to those prospects. Because you’ve built a whole strategy, you know the best times to reach those prospects, the platforms they use, and the sort of messaging that resonates with them.

That approach helps you strike up a conversation, which ultimately means you may close more deals.

3. Make Your Google My Business Profile Shine

Want people to see your name when they search on Google for businesses like yours? If you’re reading this article, I’m guessing you do, and that means you need a (good) Google My Business profile.

Setting up a free profile makes it more likely that your business shows up in relevant searches, along with useful information like:

  • The type of service you offer
  • Your opening times
  • Your address
grow local business google my business

Once you’ve set it up, optimize your Google My Business profile by:

  • Ensuring your information is accurate and comprehensive
  • Sharing business updates, like new opening hours or product launches
  • Asking customers for Google reviews (and responding to them)

On that last point, I know it can be hard persuading customers to review your business. They’re busy. They don’t want to spend their valuable time seeking out your Google My Business profile or Facebook Business Page.

Podium makes it a lot easier, helping you provide social proof that demonstrates your brand can be trusted. Text customers asking them for a review and they’ll be linked straight to your Facebook, Google, and Tripadvisor pages, so there’s hardly any clicks (and hardly any work) for them. That’s why Podium has powered more than 15 million business reviews for its users.

4. Create and Execute a Local Paid Marketing Strategy

Sometimes it takes money to make money. If you’re serious about growing your local business right now, you’ll want to consider investing in some sort of paid activity.

Google Ads can be super effective for smaller firms, especially web-based businesses targeting online traffic and/or conversions. Local keyword phrases like “lawyers near me,” or “realtor in Denver,” are typically a lot less competitive than broader, non-geographic terms like “realtor.” That means you could get a lot of visibility and clicks with a relatively small outlay.

In addition to Google Ads, consider advertising on social platforms like Facebook and LinkedIn.  Social ads are less intention-based than paid search because your audience isn’t actively looking for the thing you’re advertising.

However, ads on social media often cost less than Google Ads. For instance, if you’re a law firm, you’re paying on average $10.96 per click on Google Ads, but on Facebook, that figure drops to just $1.32.

5. Use Analytics to Track and Improve Site Performance

When times are hard, you need to squeeze every last dollar from your potential customers. Analytics software (like Google Analytics) can help you do that by allowing you to identify trends, plan new strategies, and measure the results of your current efforts.

Let’s say you’re a mechanic. You’ve just added a page to your site to promote a special offer on new tires. A month later, you click into Google Analytics and see that a bunch of people have landed on that page, but your conversion rate is low.

You compare it to other, similar pages on your site. They’re performing much better. Now you know there’s a problem, such as:

  • Your current offer is priced too high
  • Your new page isn’t engaging or persuasive enough
  • You don’t make it easy enough for customers to convert, so they leave
  • You don’t provide enough detail about the offer

By comparing against better-performing pages, you can tweak your approach and improve results.

6. Conduct Local Community Promotions

Now isn’t a good time to invite hundreds of people to a big party. But there are definitely opportunities for community engagement. You just need to get a little creative.

Say you’ve opened a new store in a location you haven’t served before. Maybe you target properties within a certain zip code, or on certain streets, with a special offer that encourages customers to visit your store.

Perhaps in the age of social distancing, you’ve introduced a new takeout service. Why not give customers in your area 10% off their first promotion, or combine it with a loyalty scheme? Tailor your offer to what your customers want right now, then promote it on Facebook, in the local press, via email marketing, or through direct mail.

7. Optimize Your Social Media Accounts

There are dozens of social platforms out there, but when it comes to growing a local business, you want to focus on those that give you the best reach, like:

  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
  • Pinterest
  • YouTube
  • Tumblr

Finding the right platform will depend on the type of business you run. On a basic level, if you’re B2B, LinkedIn’s likely your best channel. Otherwise, almost everyone is on Facebook, but if your product is highly visual you might see more success on Instagram, Pinterest, or YouTube.

Whichever platform(s) you choose, you need to identify some tactics that ultimately help you sell more, like:

  • Showcasing and/or auctioning your products on Facebook Live
  • Starting conversations with new prospects in LinkedIn Groups
  • Setting up Instagram Shopping so people can browse your products in photos and videos while in-app

Conclusion

Growing a local business is never easy, and it’s certainly a whole lot harder right now.

However, if you’ve set up your own business, you’re likely comfortable with hustling for results. You’re naturally entrepreneurial and you’re driven to make this work.

Combine that attitude with the right growth strategies, and execute them effectively, and there’s no reason why you can’t come out of the pandemic in a stronger position.

What plans have you put in place to grow your business? How’s it going for you so far?

The post How to Grow Your Local Business During Uncertain Times appeared first on Neil Patel.

8 Tips For Creating a More Effective Case Study – With Examples

tips for creating a great case study

Case studies go beyond simple testimonials by providing real-life examples of how your brand satisfied your customer’s needs and helped them accomplish their goals.

An in-depth case study helps you highlight your successes in a way that will help your ideal potential customer become your next customer. They help you show rather than tell prospective customers how you can help them reach their goals.

But, creating a solid case study can be a challenge. Today, I’ll provide actionable tips to help you write a case study, provide background information, and identify key metrics that will help your case study drive conversions.

1. Write About Someone Your Ideal Customer Can Relate To

Do you know who your ideal customer is? If it’s someone in the education industry, then make your case studies about your university customers. If it’s someone in the automobile industry, then make your case studies about auto parts and accessories manufacturers.

The goal is to ensure that your case study will show prospective customers that you are:

  • Comfortable in their industry.
  • Undertand their industry’s specific needs.
  • Know how to give their industry targeted results.

Think about it on a smaller level, such as when you’re reading a how-to blog post. Most of of these posts are geared toward average readers.

But when you come across a post designed specifically for your needs (such as online marketing for the healthcare industry), you are more likely to understand and apply the information.

The same goes with case studies – people who read about results in their industry will feel like the same approach will work for them.

2. Tell the Story from Start to Finish

Storytelling is a powerful marketing strategy. A great case study will allow someone to really get to know the customer in the case study including:

  • Who is the sample customer and what do they do?
  • What were the customer’s goals?
  • What were the customer’s needs?
  • How did you satisfy those needs and help the customer meet their goals?

But don’t stop a month or two out. Follow up with the customer in the case study and update your case study a few months down the road to show how your solutions continue to provide long term benefits.

This gives readers the opportunity to see that your goal is not only to help with immediate needs, but also to ensure long term results.

3. Make Your Case Study Easy to Read

No one likes to read one huge chunk of text, no matter how interesting and informative it might be. Case studies, like blog posts, should be scannable and easy to read.

Be sure to use good content formatting elements as you would with articles, blog posts, and copywriting on your website, including:

  • Headers
  • Images
  • Bulleted lists
  • Bolded & italicized text

In addition to providing great SEO value for your case studies page, these formatting elements will help your readers (especially those that like to skim) find the most important parts of your case study and get a great impression about what your business could do for them.

Consider adding multi-media elements in addition to written content, such as videos, PDFs, and images to mix it up and make the content more engaging.

4. Include Real Numbers

Have you ever read case studies where a business states they “doubled traffic” for the customer in their case study and wondered if that meant they went from 100 to 200 visits or 10,000 to 20,000 visits?

Avoid using broad statements by using clear, direct numbers. This makes your case study more believable and helps build trust in your brand.

You want your case study to be as precise as possible. Instead of saying you doubled their traffic, provide specific, accurate numbers and (if possible) real proof in the form of charts, graphs, or analytics data.

better case studies include graphs and charts

Remember that not everyone is as familiar with analtyics technology as you are, so highlight the most importnat pieces of data and provide context to why it matters.

better case studies show proof

This way, the reader can see where the customer began and where the customer ended up with your help.

Plus having the picture proof can help the reader envision exactly what you might do for them, making your case study that much more powerful.

5. Talk About Specific Strategies in Your Case Study

So you doubled a website’s traffic or sales, right? How did you do it? This is where you sell your products or services simply by saying which ones you used and how they led to the desired result.

Don’t just say “our online marketing services led to these results.” Instead, say something like, ” A three-month social media campaign focusing on Facebook & YouTube and five-month of link building campaign led to an increase in rankings, plus brand exposure led to these results.”

Don’t worry about giving away your secrets — the goal is to establish your brand as an industry leader and you need to show you know your stuff.

6. Try Different Content Formats

Case studies do not have to be fit into a story form every time. Try different types of case studies, such as an interview format where you have your clients answer the same questions mentioned earlier about what they do, their needs, their goals, and how you met them.

Quoting your customer in their own words will make the case study even more relatable to your ideal customer than you telling the story.

Infographics, webinars, and even podcasts can also be used to highlight case studies. Don’t get stuck in the same old text-only format — get creative and see what type of content your users respond to.

Here’s a case study example from Venngage that uses a brochure-style case study to highlight how Vortex was able to grow conversion. (Notice the results section that highlights specific gains.)

case study research example

7. Appeal to Different Types of Learners

While some people enjoy reading, others may prefer audio, video, or visual representation of your case study. So consider taking your text-based case studies and re-purposing the content as:

The bonus with YouTube videos and infographics is that they are easy to share. This means that your case study may go further than just your own site, leading to more of your potential customers finding out how they could benefit from your products or services.

Case studies can also be embeded in other types of content — such as an ebook, how-to blog post, or resource guide.

8. Make Your Case Studies Easy to Find

What’s the point of having great case studies if no one will ever read them? Be sure that your case studies are organized and easy to find.

Here’s a few examples of good case studies that are easy to find — and therefore, much more powerful.

Amazon Web Services

AWS provides case studies right on their homepage. They also make it easy to look for an-industry specific case study in manufacturing, financial services, fitness, and more.

Drupal

Drupal provides case studies right in their hero image. Users considering using their solution don’t have to look far at all to see how other brands are finding success with Drupal.

drupal case study example for retail

Conclusion

A great case study starts with case study research. Ask your customers to fill out a short form that highlights how you helped them reach their goals — be sure to ask for specific results.

Explain how the case study will help them by increasing brand awareness and link opportunities. Remember, a highly effective case study helps both you and your client build trust and reach a wider audience.

Have any case study best practice tips or examples of case studies you have enjoyed? Please share them in the comments!

The post 8 Tips For Creating a More Effective Case Study – With Examples appeared first on Neil Patel.

Repl.it (YC W18) Is Hiring Growth and SRE

Article URL: https://jobs.lever.co/replit/

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