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Looking to dive right in? My top recommendations for webinar software to suit just about every business need are Demio, Livestorm, or EasyWebinar.
With so many people working from home, it’s become even more apparent as to just how important it is to stay connected with your audience.
When you can’t do this in person, how the heck are you supposed to do it?
By hosting webinars, of course!
Just about every business is hosting webinars these days. It’s a fantastic way to engage with prospects and build a ‘face-to-face’ connection without physical contact.
However, hosting webinars, whether live or recorded, can be a lot of work with a few challenges along the way. That’s why it’s essential for you to have the right webinar software on your side.
I’ve put together a list of the top five webinar software out there, and we’re going to cover the in’s and out’s of how to choose the best webinar software for you!
Most of the top webinar software will have very similar characteristics. That is, making your webinar easy to record and share, the video and audio are high-quality, and there is a range of interactive features like live chat or built-in polls.
So, with a plethora of webinar software to choose from that all seem to offer the same things, how are you supposed to choose the best one for your needs?
Well, you need to narrow in on three important factors.
Attendee Capacity
The number of participants you can have in your webinar at one time is going to be a vital factor in your decision-making process. Some webinar software is designed for smaller groups, while others have the capacity to host thousands of attendees at one time.
Maybe you’re not sure how big your webinar will be or how quickly it will grow. In that case, you should consider whether your software provider has a plan that allows you to scale your attendee capacity alongside your business growth.
Furthermore, if you can have thousands of participants at one time, how well does the software function? Is there any latency or known technical issues that arise when everyone is logged in?
The great thing here is that most webinar software providers have tiered pricing based on how many participants you’d like to have in each meeting, so if you find one you really love, you’ll likely be able to make it work.
Accessibility
How easy is it for your participants to join the webinar? Do they have to download an extra app or plugin, or can they launch from their preferred web browser and be immediately joined in?
For some users, the stress of requiring an extra app or program to join a webinar is too overwhelming or complicated. So much so that they may choose to ditch their plans to join your webinar altogether.
With this in mind, it’s important to focus on choosing a webinar software that is easily accessible for your participants. Many options simply launch from a web browser, and this way, your participants are unlikely to find a reason to back out of committing.
Customer Support
Imagine if you’ve put in weeks of hard work to pull off an incredible live webinar, and five minutes before you’re set to begin, the software crashes.
Just the thought of this alone has me feeling sick.
If you plan to hold live events often, it’s imperative you use a webinar software provider that offers 24/7 customer support to get you out of these sticky situations.
Furthermore, technology can be challenging and fickle. Having access to a team of professionals who know the software inside and out at your fingertips at any time of day really should be an important factor when considering which tool to use.
The Different Types of Webinar Software
What we are going to focus on here is what the different types of webinars are and whether your preferred software accommodates your ideal webinar. In essence, there are three basic types of webinars.
Most of the top webinar software will have the capacity to offer all of the below, but it’s certainly something to keep in mind when doing your research and making sure it meets your needs.
Live Webinars
Some would say that live webinars are irreplaceable. Certain chemistry can come out of live public speaking that you don’t get with pre-recorded content.
Live webinars can help establish your brand as a ‘real-life’ person and put a face to your name. They’re interactive, personal, and really, they can be seen as significant events.
In a nutshell, live webinars provide you with the opportunity to connect and build a relationship with your audience in real-time.
Recorded Webinars
Recorded or automated webinars are newer to the world of online marketing, but that doesn’t necessarily mean they are better than live webinars. You can record the content, schedule it to go live, and even set it to expire within a specific timeframe.
Recorded webinars are great for maximizing your reach because they’re accessible for more participants whenever it’s most convenient. No longer do you have to worry about finding a time that works for every single person.
Series Webinar
Essentially, a series webinar can be made up of multiple live and/or automated webinars, which are scheduled over multiple dates and times. The content should involve gradual learning for the participants with an incentive to come back for more.
These types of webinars are great for broader or more complex topics with dense information that is more easily digestible over a series of webinars.
Holding a series will really put you out there as the expert in your field. But, naturally, they take a bit more time and effort than the one-off webinars.
#1 – Demio — The Best For Live Events
Demio is the cream of the crop when it comes to modern, user-friendly webinar software that is bound to help your business grow. It’s suited to almost any size business that wants to hold interactive live events to drive their marketing campaigns.
One of the best bits? There is no download required! Not only will your attendees have access to a beautiful platform that clearly reflects your branding, but they’ll also be able to join from any browser with just one click.
So, what makes them the best for live events? Here are a few of their top features:
Run interactive polls and get stats in real-time
Embed launch offers and CTAs designed to convert sales on the spot
Share handouts for instant download with your attendees
Give attendees video and microphone permissions as needed
Public and private chat functions for live Q&A
In a nutshell, Demio is so interactive it’s bound to leave your audience feeling like they truly know you!
Another great thing about Demio is that you can record your webinar and send it to all registered participants so no one misses out if they can’t make it, even if they do miss the chemistry of a live event.
Demio offers three pricing plans:
Starter: $34/month for up to 50 attendees
Growth: $69/month for up to 150 attendees
Business Plan: $163/month for up to 500 attendees
Demio offers a 14-day free trial of their Growth plan, so you can give it a try before you buy.
#2 Livestorm — The Best For Ease of Use & Automation
If you’re looking for webinar software that allows you to run live, on-demand, or automated webinars with just about any goal in mind, Livestorm could be the one for you.
If you want to hold a live event or detailed product demo, you can do that. If you want to build an educational customer training series or an online course, you can do that, too.
Livestorm is a simple yet powerful video communication tool. They really stand out for their ease of use and detailed automation.
You don’t need to be tech-savvy to use this software. You can have a webinar up and running in no time, thanks to automation features like an event registration page, promotional emails, and automatic custom event reminder emails.
Some other great features of Livestorm include:
Join the webinar in any browser with one click
Full suite of webinar types such as live, on-demand, and pre-recorded
Screensharing capabilities
Interactive live chat, polls, and Q&A within the webinar
Excellent analytics and reporting capabilities
Another great feature? Livestorm also offers comprehensive customer support in multiple languages.
In addition, they also have a very useful self-service documentation section of their website. I love this offering because they’re incredibly handy when you’re facing a minor set-up issue or pesky technical difficulty that you know you could solve alone without needing to explain yourself at length to tech support.
Livestorm plan options include:
Basic: Free for up to 10 live attendees
Premium: $99/month for up to 100 live attendees
Enterprise: Personalized quote based on your requirements
#3 EasyWebinar — The Best For Beginners & Social Media
The EasyWebinar motto is ‘wildly easy to use live and automated webinar platform,’ and by all accounts, they seem to hit the nail on the head. They are also reportedly one of the only webinar platforms that have successfully integrated marketing strategy with webinar technology.
This software is for anyone wanting to launch their first seminar quickly and painlessly with a drag and drop page builder and tons of seamless integrations at your fingertips.
The highlight of this software? EasyWebinar allows hosts to livestream to Facebook and YouTube at the same time.
Why is this so impressive?
Well, it essentially gives you uncapped potential regarding how many people your content can reach at one time. Of course, those viewing through Facebook or YouTube won’t get the platform’s built-in interactive capabilities, but your message could still be reaching thousands more people.
Other notable features of EasyWebinar are:
Seamless integration with popular platforms such as WordPress and MailChimp
In-depth engagement tracking tools covering webinar watch time and in-platform clicks
Browser-based viewing
Turn live events into evergreen webinar funnels
Allows four presenters in one room, all with sharing capabilities
Although EasyWebinar is not the cheapest webinar software on the market, this platform certainly packs a punch. There are three pricing plans on offer:
Standard: $78/month for up to 100 room attendees
Pro: $129/month for up to 500 room attendees
Enterprise: $499/month for up to 2000 room attendees
You can try both the Standard and Pro plan for free or schedule a demo of the Enterprise plan.
#4 – WebinarNinja — Best For High-Quality Training or Coaching
WebinarNinja is a close contender of Demio in terms of their modern, beautiful design, and flexible webinar capabilities. They are also slightly more cost-effective for smaller groups than Demio.
WebinarNinja is trusted by well-known B2B brands such as Baremetrics, AppSumo, and Podia, which essentially supports their ranking as the best for high-quality training or coaching purposes.
You can run any type of webinar with WebinarNinja: live, automated, series, or hybrid. The key features that come into play with the coaching or training aspect are uploading PowerPoint presentations, creating Q&A spaces, and easily sharing information.
Some other notable features of WebinarNinja are:
Tons of integrations with notable systems such as MailChimp, ConvertKit, HubSpot, Squarespace, and ClickFunnels
Beautiful ready-to-use templates for quick and simple webinar creation
Save marketing materials within the software for easy access
Create custom branded registration and thank you pages designed to convert
Furthermore, WebinarNinja reportedly has some of the best customer support out there. This support is extended via live chat, email, and a comprehensive resource library for set-up guidance and minor troubleshooting.
WebinarNinja has four pricing plans available:
Starter: $39/month for up to 100 attendees
Pro: $79/month for up to 300 attendees
Plus: $129/month for up to 500 attendees
Power: $199/month for up to 1000 attendees
Every membership comes with a 14-day free trial, so you can pay nothing and get started today!
#5 – WebinarJam — Best For Large Businesses
With the ability to host up to 5,000 attendees at one time with little to no delays, WebinarJam is easily one of the best out there for large businesses.
A really great highlight of WebinarJam is that, although it’s designed for huge audiences, you don’t have to skimp out on some of the awesome interactive features that software for smaller groups has on offer.
My favorite interactive feature is the advanced live chat within the webinar that actually pulls the person’s video to the stage, so to speak. You can also include offer pop-ups and countdowns to encourage attendees to take action.
These features are almost more important for a larger business than small ones, to remove that ‘faceless large business’ barrier some may perceive.
Some other features that WebinarJam has to offer includes:
Top-notch 24/7 customer support
Email and SMS reminder notifications
Create paid webinars and accept payment directly through the software
Stream directly to YouTube for further participant reach
Compatibility with multiple browsers and systems
The key selling point of WebinarJam? It automatically records your content every single time.
Why is this so nifty? I don’t know about you, but forgetting to hit that pesky record button is a frequent pastime of mine.
There are three pricing plans on offer:
Basic: $499/year for up to 500 attendees
Professional: $699/year for up to 2,000 attendees
Enterprise: $999/year for up to 5,000 attendees
WebinarJam are so confident you’ll love their software that they offer a 30-day money-back guarantee, so your purchase is risk-free. At the time of writing, they also have a $1 14-day trial for a limited time only.
Summary
My top recommendations for webinar software to suit just about everyone’s needs are Demio, Livestorm, or EasyWebinar.
At the end of the day, the best webinar software for you is potentially going to be different from the best for me. That’s why it’s important to use the methodology discussed here to do your due diligence in choosing the best webinar software for your business needs.
Don’t forget to also take advantage of free trials and money-back guarantees to get a real feel for how your chosen software works before you commit long-term.
The average American sees up to 10,000 ads and brand messages every single day. Sounds a little overwhelming, right? That’s because it is.
After seeing this many ads every day, viewers simply stop noticing them—meaning they aren’t engaging with them. As a result, you miss out on sales opportunities.
You need to go further to engage your target audience and convert them by personalizing the whole marketing experience through interactive marketing tools. Here’s what you need to know.
What Are Interactive Tools in Marketing?
Pretend for a moment that you’re looking for new hair color. It’s tricky because you’re unsure which colors suit you, and you could use some personalized help.
Finally, a website catches your eye because there’s an interactive tool designed to help you pick a hair color. All you need to do is input some simple details, such as your skin tone and eye color, and you’ll see a list of compatible hair dyes.
The outcome? You purchase a hair dye. In other words, you just went from a potential lead to a paying customer, and it’s all thanks to that interactive website tool.
Essentially, this is precisely how interactive tools for marketing are meant to work. And this particular example isn’t imaginary—you can check out Boots to see what I mean:
If you go through the sequence, you’ll find a list of compatible colors. Then, when you click on a color, a link pops up to take you straight to the right product:
How’s that for convenience?
With just a few minutes of interaction, users get helpful, meaningful results—and you may make a sale.
Examples of Interactive Tools
That’s just one example of interactive tools in a sales context. However, you can build many interactive tools and discover at least as many ways you can use them in your marketing strategy.
Here are five common types of interactive marketing tools we can use in different ways.
Virtual Try Ons for Interactive Marketing
This one’s similar to what we just worked through, but it’s not quite identical—we’re taking it one step further.
Embedded “quizzes” like the one we just looked at rely on customers clicking on certain answers. The algorithm then presents people with solutions matching their answers.
Conversely, virtual try-ons use augmented reality or simple image captures to let people use selfies to “try on” everything from makeup to glasses.
The benefit? Customers know whether the product suits them or not, so they’re more likely to buy. Briefly, here’s how they work:
Someone visits your product page.
They tap the “try on” link, which activates the user’s phone camera.
With augmented reality, the user places the product on their face to see how it looks.
If they’re happy with the appearance, the prospective customer moves the product to their basket and goes through checkout.
It’s not just limited to beauty products or accessories, either. For instance, platforms like Amazon allow their users to “place” furniture around the room to see if they look good in their home. The same technology applies.
Interactive Measurement Tools
Customers sometimes find buying products like shoes online challenging because it’s hard to determine what size to get.
They decide on the shoes they want and opt to “try them on.”
The camera scan’s the person’s foot to get measurements rather than using augmented reality.
Once the scan is complete, the app tells the person which size they should choose.
It’s easy to see how this may lead to more sales and, happily, fewer returns.
Interactive Calculators
Calculators are useful interactive tools for your website and can be used in more ways than one might think, including as:
Nutritional calculators
Pricing calculators to help potential customers build customized product “bundles”
Financial calculators to help people select the right financial product for their circumstances
Whichever sector you’re in, there’s a good chance you can use an interactive calculator to personalize the user experience.
For example, say you run a kitchen supplies website, and you want people to buy your recipe books. They’ve asked questions about how healthy the recipes are.
A nutritional calculator can help them out and, in turn, encourage people to spend more time on your website and potentially have more trust in your brand.
7 Reasons You Should Use Interactive Tools to Increase Sales
We’ve explored what interactive marketing tools are and how they work. There’s still a fundamental question remaining: Can these tools increase your sales?
The answer is: Yes! Here are my top seven reasons why interactive tools in your marketing strategy can increase sales:
1. Interactive Tools Boost Engagement Levels
Customer engagement is vital, but it’s hard to stand out from the crowd. Here are two reasons why:
The average person spends almost two and a half hours a day scrolling through social media. In this time, they’re exposed to countless marketing messages, from banner ads to PPC.
We’ve become “conditioned” to ignore banners (a phenomenon dubbed “banner blindness.”)
Don’t worry, though. This time is where interactive tools have their chance to shine. 66% of marketers report an increase in engagement levels after introducing interactive content to their marketing plans.
Ultimately, increased customer engagement is a pretty effective way to generate more sales in the long-term, so it’s worth using interactive tools in your content.
2. Improved UX Using Interactive Tools May Convert Customers
Conversion is what marketing is all about, and interactive tools could help you do just that. Let me show you how it’s working for JINS, a prescription eyewear provider.
As a forward-thinking company, JINS wanted a new, innovative way to increase conversion rates and improve customer experience. Their solution came via virtual try-ons for glasses.
All someone needs to do is turn on their camera and upload a selfie to the platform. Once that’s done, the user chooses which frames they’re interested in and puts them onto the selfie.
Here’s what it looks like in action. On the left, we have the selfie, and on the right, the actual frames after the customer made their purchase:
Potential customers now have a quick and accurate way to gauge which glasses to buy! According to JINS, conversion rates have drastically improved since they added this interactive tool.
3. Interactive Tools Allow Customers to Feel Confident in Large Purchases
Like I said earlier, this is not just about trying on hair colors or checking out fashion accessories. This technology is about making big purchases, too.
Take Target, for example. Users upload a picture of their room and place a true-to-life copy of a furniture piece in the space. They can also download the Target app and try out the augmented reality version instead, which is a little more engaging because you can move the product around the room. Amazon does this with many of their products in their app as well.
This feature allows users to check if the furniture or other large item fits their space before purchasing it, which means they’re more likely to click “buy” and less likely to make returns.
4. Personalized User Experience via Interactive Tools Can Increase Conversions
Do you see a pattern of personalization forming? Interactive tools allow us to personalize marketing like never before. Here’s why it matters from a sales perspective:
80% of customers are more likely to buy from a company offering a personalized experience.
Up to 56% of online shoppers return to businesses offering product recommendations and other personalized services.
These stats tell us two things:
First, customers crave personalization. They want to feel valued by companies.
Second, they’re more likely to become loyal customers if there’s a personal touch to your marketing efforts.
This is a no-brainer way to build brand loyalty and increase your chance of future sales.
5. Interactive Tools Increase Lead Generation
I’ve touched on this already, but it’s worth emphasizing just how effective a lead generation strategy using interactive tools can be from a sales perspective.
Firstly, there’s an SEO angle. If you can attract more social media shares and inbound links, you should generate more traffic. Additionally, if people spend more time on your website and there’s a lower bounce rate, your search engine ranking can improve. Social shares may boost your SEO ranking by over 20%, too. (You can check who’s linking back to you with my free backlink checker.)
The upshot of interactive tools catching people’s eyes is that there could be more organic traffic and better quality leads because the people you’re attracting are already looking for your product or service.
Let’s think about this from another angle, too. The data you’re capturing from prospects as they use your tools may help you figure out what your customers want so you can improve your products and services.
Consequently, you can generate more quality leads in the long-term, all without much extra effort from a marketing perspective.
Sounds great, right?
6. Automate Your Marketing With Interactive Tools
Yes, interactive tools can help you automate your marketing efforts, and the tools do much of the work for you. The algorithms detect what the customer wants and make recommendations or offer solutions based on this information.
This can help you increase sales and make alterations as needed because you can:
Make changes to the UX based on what you’re seeing
Compare performance across different interactive tools and invest time, energy, and resources in the ones performing most effectively
7. Interactive Tools May Draw Traffic to Your Website
Without traffic coming to your website, there’s little chance you’ll make sales. Again, interactive tools can help you out here. Here’s why.
Firstly, 47% of people use ad blockers now, so there’s a chance some potential customers won’t even see your marketing if you’ve focused efforts on those. Interactive tools help you sidestep this problem.
Secondly, 79% of successful marketers say interactive tools and content encourage people to return to their websites. It’s not just about creating new content, either—you can use the same content time and time again when you have interactive tools.
Think about it. If a customer loves the eyeglasses they purchased from you the first time around, they’re more likely to return to your online shop. There, they’ll use the same virtual try on tool they used before to check out different pairs. You didn’t have to try to impress them with new interactive tools, promotional emails, or any other marketing strategy—they liked what they used the first time and engaged with it again.
How’s that for a cost-efficient way to solidify a lasting relationship with your customer base?
Conclusion
Why should you build interactive tools to increase your sales? Well, as we can see, they’re not just a reliable way to generate leads and improve conversion rates, but they’re cost-effective, too.
They’re not especially challenging to deploy, either. It’s easy enough to find interactive tools you can tweak to suit your needs and embed them on your website. If you want more help with introducing interactive tools into your marketing strategy, check out my consulting services.
Thinking of throwing in the towel, as it looks like the US slides further and further into a recession? Don’t! This can be a great time to regroup and get your business set up for even more success down the line. Building business credit should be on your to-do list. So, find out the best way to build business credit in a recession.
Learn the Best Way to Build Business Credit in a Recession
We can show you the best way to build business credit in a recession! Get the kind of business funding that can take your business to new heights! And it can happen no matter what goes on with the economy.
Economic Downturns and Company Funding
The United States’s economy has been through any variety of changes throughout the years. Our financial fortunes can depend upon developments in technology, diplomatic ties (or cutting those ties), the weather, and also more. Business credit, fortunately, is an asset which you can develop even during financial slumps. Nonetheless, you may need to get a little creative with it, and with various other forms of business funding.
The Best Way to Build Business Credit in a Recession – But What’s Business Credit, Anyway?
Small business credit is credit in a business’s name. It doesn’t link to a business owner’s personal credit, not even if the owner is a sole proprietor and the sole employee of the small business.
Accordingly, a business owner’s business and individual credit scores can be very different.
The Benefits
Because business credit is distinct from consumer, it helps to secure a business owner’s personal assets, in the event of a lawsuit or business bankruptcy.
Also, with two separate credit scores, a business owner can get two different cards from the same merchant. This effectively doubles buying power.
Another benefit is that even start-ups can do this. Heading to a bank for a business loan can be a recipe for frustration. But building company credit, when done the right way, is a plan for success.
Individual credit scores rely on payments but also various other factors like credit usage percentages.
But for company credit, the scores actually just hinge on whether a company pays its debts on a timely basis.
The Best Way to Build Business Credit in a Recession – The Process
Building business credit is a process, and it does not occur automatically. A business will need to actively work to build company credit.
Nonetheless, it can be done easily and quickly, and it is much speedier than building consumer credit scores.
Merchants are a big aspect of this process.
Undertaking the steps out of order will lead to repetitive rejections. Nobody can start at the top with business credit. For example, you can’t start with retail or cash credit from your bank. If you do, you’ll get a denial 100% of the time.
The Best Way to Build Business Credit in a Recession – Enhancing Company Fundability
A company must be fundable to credit issuers and vendors.
Therefore, a company will need a professional-looking web site and email address. And it needs to have site hosting bought from a vendor like GoDaddy.
Also, business telephone numbers must have a listing on ListYourself.net.
Also, the business telephone number should be toll-free (800 exchange or comparable).
A business will also need a bank account dedicated strictly to it, and it needs to have all of the licenses essential for operation.
Licenses
These licenses all have to be in the exact, appropriate name of the company. And they need to have the same business address and telephone numbers.
So bear in mind, that this means not just state licenses, but possibly also city licenses.
The Best Way to Build Business Credit in a Recession – Working with the IRS
Visit the Internal Revenue Service website and get an EIN for the company. They’re free of charge. Select a business entity such as corporation, LLC, etc.
A company may begin as a sole proprietor. But they absolutely need to change to a type of corporation or an LLC.
This is to limit risk. And it will make the most of tax benefits.
A business entity matters when it concerns tax obligations and liability in case of a lawsuit. A sole proprietorship means the owner is it when it comes to liability and taxes. Nobody else is responsible.
The best thing to do is to incorporate. You should only look at a DBA as an interim step on the way to incorporation.
The Best Way to Build Business Credit in a Recession – Starting Off the Business Credit Reporting Process
Begin at the D&B website and obtain a cost-free D-U-N-S number. A D-U-N-S number is how D&B gets a small business into their system, to produce a PAYDEX score. If there is no D-U-N-S number, then there is no record and no PAYDEX score.
Once in D&B’s system, search Equifax and Experian’s web sites for the business. You can do this at www.creditsuite.com/reports. If there is a record with them, check it for correctness and completeness. If there are no records with them, go to the next step in the process.
By doing this, Experian and Equifax will have something to report on.
Starter Vendor Credit
First you should establish tradelines that report. Then you’ll have an established credit profile, and you’ll get a business credit score.
And with an established business credit profile and score you can start to get credit for numerous purposes, and from all sorts of places.
These kinds of accounts have the tendency to be for things bought all the time, like marketing materials, shipping boxes, outdoor workwear, ink and toner, and office furniture.
But first off, what is trade credit? These trade lines are credit issuers who give you starter credit when you have none now. Terms are usually Net 30, instead of revolving.
Therefore, if you get an approval for $1,000 in vendor credit and use all of it, you need to pay that money back in a set term, like within 30 days on a Net 30 account.
Details
Net 30 accounts have to be paid in full within 30 days. 60 accounts have to be paid in full within 60 days. Unlike revolving accounts, you have a set time when you have to pay back what you borrowed or the credit you used.
To launch your business credit profile the right way, you should get approval for vendor accounts that report to the business credit reporting bureaus. As soon as that’s done, you can then make use of the credit.
Then repay what you used, and the account is on report to Dun & Bradstreet, Experian, or Equifax.
Vendor Credit – It Makes Sense
Not every vendor can help in the same way true starter credit can. These are vendors that grant approval with very little effort. You also want them to be reporting to one or more of the big three CRAs: Dun & Bradstreet, Equifax, and Experian.
Uline is a true starter vendor. You can find them online at www.uline.com. They sell shipping, packing, and industrial supplies, and they report to Dun & Bradstreet and Experian. You MUST have a D-U-N-S number and an EIN before starting with them. They will ask for your business bank information. Your company address must be uniform everywhere. You need for an order to be $50 or more before they’ll report it. Your first few orders may need to be prepaid initially so your company can get approval for Net 30 terms.
How to apply with them:
Add an item to your shopping cart
Go to checkout
Select to Open an Account
Select to be invoiced
Quill
Quill is another true starter vendor. You can find them online at www.quill.com. They sell office, packaging, and cleaning supplies. And they also sell toner, office furniture, and even shipping and school supplies. They report to Dun and Bradstreet every quarter.
To apply, you MUST have a D&B PAYDEX score. If not given a Net 30 they will ask you to do prepaid orders of $100.00. Normally any prepaid order won’t report but you would need them to have given you a Net 30 account. Net 30 accounts require $50.00 purchase to report.
New business or businesses with no credit history may need to prepay purchases until Net 30 approval. Terms are Net 30.
Here’s how to qualify:
Your business entity must be in good standing with the applicable Secretary of State
You must have an EIN and a D-U-N-S number
Business address (it has to match everywhere)
Business license (if applicable)
A corporate bank account
Apply online or over the phone.
Grainger Industrial Supply
Grainger Industrial Supply is also a true starter vendor. You can find them online at www.grainger.com. They sell hardware, power tools, pumps and more. They also do fleet maintenance. And they report to D&B. You need a business license, EIN, and a D-U-N-S number.
To qualify, you need the following:
A business license (if applicable)
An EIN number
A business address matching everywhere
A corporate bank account
A D-U-N-S number from Dun & Bradstreet
Your corporate entity must be in good standing with the applicable Secretary of State. If your company does not have established credit, they will require additional documents. So, these are items like accounts payable, income statement, balance sheets, and the like.
Apply online or over the phone.
The Best Way to Build Business Credit in a Recession – Accounts That Do Not Report
Non-reporting trade accounts can also be helpful. While you do want trade accounts to report to a minimum of one of the CRAs, a trade account which does not report can still be of some worth.
You can always ask non-reporting accounts for trade references. Additionally, credit accounts of any sort should help you to better even out business expenses, consequently making budgeting less complicated.
Store Credit
Store credit comes from a variety of retail companies.
You must use your Social Security Number and date of birth on these applications for verification purposes. For credit checks and guarantees, use the small business’s EIN on these credit applications.
Fleet Credit
Fleet credit is from companies where you can buy fuel, and fix and maintain vehicles. You must use your Social Security Number and date of birth on these applications for verification purposes. For credit checks and guarantees, make sure to apply using the business’s EIN.
These are businesses such as Visa and MasterCard. You must use your SSN and date of birth on these applications for verification purposes. For credit checks and guarantees, use your EIN instead.
The Best Way to Build Business Credit in a Recession – Monitor Your Business Credit
Know what is happening with your credit. Make certain it is being reported and deal with any inaccuracies ASAP. Get in the habit of taking a look at credit reports and digging into the specifics, and not just the scores.
The Best Way to Build Business Credit in a Recession – Fix Your Business Credit
So, what’s all this monitoring for? It’s to challenge any inaccuracies in your records. Mistakes in your credit report(s) can be taken care of. But the CRAs normally want you to dispute in a particular way.
Disputing credit report inaccuracies generally means you mail a paper letter with duplicates of any proof of payment with it. These are documents like receipts and cancelled checks. Never mail the original copies. Always send copies and keep the original copies.
Fixing credit report inaccuracies also means you precisely itemize any charges you dispute. Make your dispute letter as clear as possible. Be specific about the concerns with your report. Use certified mail so that you will have proof that you mailed in your dispute.
The Best Way to Build Business Credit in a Recession – A Word about Building Business Credit
Always use credit smartly! Don’t borrow more than what you can pay off. Monitor balances and deadlines for payments. Paying promptly and in full will do more to raise business credit scores than nearly anything else.
Building company credit pays. Good business credit scores help a small business get loans. Your credit issuer knows the small business can pay its financial obligations. They recognize the small business is bona fide.
The business’s EIN links to high scores and lenders won’t feel the need to ask for a personal guarantee.
The Best Way to Build Business Credit in a Recession – Takeaways
Business credit is an asset which can help your company for many years to come. The recession will not last forever.
brandTURBO | Berlin | Full-time | Visa Sponsorship Available
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You’re determined, hard working, crushing your goals, and passionate in what you do. Without noticing it, you’re already building your personal brand. It’s time to take it to the next level – to digital. Your …
Overtime – Episode #382 (Originally aired 03/25/16) – Bill and his roundtable guests Cory Booker, Jerrod Carmichael, Ian Bremmer, Jennifer Granholm and Reihan Salm answer fan questions from the latest show.
CSS AG | https://www.css.de/en/ | Fulda, Germany | Onsite/ Remote (during COVID) | Full Time
Established in 1984, CSS AG continuously develops modern, user-oriented business software for demanding mid-sized companies of all industries – also for international use. CSS is one of the major developers of business software in Germany with nearly 2.000 customers.
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The roles are not listed yet but you can contact me directly at lennart.duschek@css.de
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