DHS says it anticipates re-starting Trump-era Remain-in-Mexico policy in November, is rebuilding tent courts

The Department of Homeland Security says it is ready to reinstate the Trump-era Remain-in-Mexico policy by mid-November in response to a court order upheld by the Supreme Court – even as it works to abolish the program by a different method.

Indian man sentenced to life after killing wife with cobra

A man in India convicted of murdering his wife with a cobra has been sentenced to life in prison.

11 Tax Write Offs for Small Business That May Surprise You

You have to pay your taxes. Not only is it illegal not to, but paying your personal and business taxes is a major factor in fundability. If you apply for business funding and a lender sees you have not been paying your taxes, it will likely result in denial. After all, if you can’t pay … Continue reading 11 Tax Write Offs for Small Business That May Surprise You

These Tactical Black Friday Ad Campaign Tips Can Increase Your Revenue 200%

There’s no better time than the Black Friday season to boost your sales. From product launches to store-wide promotions, businesses ramp up their sales and marketing efforts during this time to match the high customer demand. 

Not sure where to start? Black Friday ad campaigns are one of the quickest way to drive revenue.

Do Black Friday Ad Campaigns Make a Difference? 

Don’t dismiss Black Friday as just another e-commerce trend. Shoppers still spend as much as $9 billion on Black Friday deals in a given year. You can leverage this audience interest to improve your revenue by using effective Black Friday ad campaigns. 

Here’s how. 

Top 8 Black Friday Ad Campaign Tips

Follow these simple yet powerful strategies to build successful Black Friday ad campaigns. 

1. Make Your Sales Specials Clear

How would people buy from you if they don’t know what you’re selling? 

If you’re launching a Black Friday ad campaign, make your offers clear. For example, look at this ad by First Hotels

black friday ad campaigns example first hotels.

The first word makes it clear what the offer is about. Then, the rest of the ad copy is written in simple language to draw attention to the Black Friday ad. 

Here is another example from the Clash of Clans Twitter account.

Clash of Clans Twitter Black Friday ad campaign

How do you make sure your Black Friday ad campaign makes your offers clear and attractive?

  • Add the words Black Friday in a large, eye-catchy font. 
  • Make it easy to understand with simple ad copy like in the Clash of Clans image.
  • Use striking visuals, animations, and popping elements to draw attention. 

2. Research Which Platforms to Run Campaigns On

The best strategies for creating a Black Friday ad campaign vary from platform to platform. Research the popular ad campaign platforms beforehand to make the most out of your time, money, and efforts. 

This way, you’ll know which platforms work best for your audience and for the type of content you want to post. It’ll also help you tailor your marketing strategies to the unique features offered by the platform. 

For instance, here are some points you need to consider:

  • Do you want your Black Friday ad campaign to be visually engaging? Then use social media platforms like Instagram. This can be great for fashion and food brands. 
  • Do you want to hold the audience’s attention via engaging text? Then use social media platforms like Twitter and LinkedIn. This can be great for magazines, SEO services, and other text-focused businesses. 
  • Do you want to create an ad campaign with both text and images? Then use social media platforms like Facebook. This can be great for most industries, from small home-based business owners to worldwide franchise businesses. 

Your marketing (or ad spend) budget should also be a major consideration when deciding which platform you’ll use for your Black Friday ad campaign. 

I recommend comparing the prices of all social media and advertising platforms to see how much money you would need to get similar results on different platforms. 

Not all results are replicable, but this will give you a rough idea of which platform can help you take your dollar the farthest. 

3. Start Early to Benefit More

Don’t wait for the last day to launch your Black Friday ad campaign. Ad campaign fees can be higher during the holiday season, so it’s best to up your marketing game early on. 

Here’s why it helps:

  • You can launch effective ad campaigns before your competition when there’s little to no bidding for similar products and services. 
  • You save money by buying ads when they’re relatively cheaper.
  • You generate audience interest which can boost sales when your offers go live. 

What’s the best way to start early?

First, plan what your Black Friday ads should contain well in advance. Use audience analysis (more on that below) to refine your plan further. 

Second, use words like “upcoming,” “soon,” and “stay tuned” to build excitement and interest. Audience research is essential here too. If you’ve tried A/B testing with your frequent customers before, you’ll have the data to make informed decisions about the word choice and structure. 

Finally, set an early launch date. Start your Black Friday ad campaign a few days before the average business would so you can leverage the lower competition time and attract audience attention. 

Many businesses typically start advertising their Black Friday deals about a week in advance. However, I recommend considering the period around the first week of November to launch your Black Friday ad campaign. 

4. Cash in on Cyber Monday

“BFCM” is a trending term around the Black Friday season. It stands for Black Friday Cyber Monday and refers to the time between the two days when most e-commerce stores offer massive deals. 

Here’s an example of a Black Friday Cyber Monday ad by Pololu.

Pololu Black Friday Cyber Monday ad

This strategy works because the audience is already in a shopping mode during this season, and receiving combined ads can help increase e-commerce interest

Here are some things to keep in mind when designing a BFCM ad:

  • Highlight both Black Friday and Cyber Monday in your ad copy. 
  • Keep the ad copy clear. Don’t clutter it with too much content and colors. 
  • Make your offers clear. Are you offering discounts, deals, free trials, etc.?

5. Understand Your Audience 

You can design the best Black Friday ad, but if it isn’t tailored to your audience, it’s not going to be very useful. 

Think about it: You don’t want to show a bicycle ad to someone who only travels by car.

For instance, data shows Millennials spent the most money on Black Friday deals. It might be more effective to market your products and services to this demographic if relevant to your business model.

Here are some tips that will help you understand your audience and craft a compelling ad copy:

  • Get hyper-specific about your target customer. What do they like and dislike? What gets their attention?
  • Create a buyer persona to make sure you’re looking at the complete picture. You can use HubSpot’s Make My Persona tool to do this more effectively. 
  • Get direct customer feedback through surveys and feedback forms. Here’s a simple but effective example from QuickTapSurvey.
Best Black Friday Ad Campaign Tips - Understand Your Audience
  • Experiment with different wording to see what best resonates with your audience. Switch up the pronouns from “you” to “we” and vice versa. You can also try using completely different copy to see what works well, which brings me to the next point:
  • Try A/B testing with graphics, images, and headlines. A/B testing will give you live feedback on whether your strategies are working or not. It’ll also help you pinpoint the areas where your Black Friday ad campaign is lacking and how to improve it. 

6. Target Your Ad Campaigns

Now that you understand your audience, it’s time to make sure your Black Friday ads are targeted to them. 

Social media platforms like Facebook can be helpful for this. For example, Facebook offers a wide selection of targeting and retargeting options so you can truly narrow down the customers you want to reach. 

Best Black Friday Ad Campaign Tips - Target Your Ad Campaigns

Refer to your buyer persona and create specific ad campaigns to appeal to your target buyer. This will ensure you are reaching the right people without wasting a lot of money. 

7. Offer Options to Recover Abandoned Carts

Often people will visit your e-commerce store, browse through your products, maybe add a few to the cart, but leave without buying. Research shows e-commerce brands lose $18 billion in sales revenue each year because of abandoned carts. 

You can offer options to recover abandoned carts. Here’s how:

Understand and Change 

First, start by understanding why people are abandoning the process midway. For example, is it the shipping fees? If so, can you offer discounted or free shipping for Black Friday? 

Offer Better Deals

Sometimes customers want to buy the product, but they want to check out competitor products or simply wait for a discount. As an e-commerce business owner, you can use this to your advantage by offering Black Friday discounts and exclusive deals to such customers. 

For example, look at the abandoned cart recovery email below, shared by TargetBay

Best Black Friday Ad Campaign Tips - Offer Options to Recover Abandoned Carts

Emails like this serve three primary purposes:

  • It reminds customers to complete the transaction if they’ve forgotten it while browsing. 
  • It establishes a sense of trust and loyalty because you’re sending targeted offers right into their inbox. 
  • It gives you an edge over competitors who aren’t offering such deals. 

8. Don’t Forget Basic Ad Campaign Optimization

Sometimes, in a quest to create a highly effective ad copy, marketers tend to overlook the basic ad campaign optimization strategies. Don’t be one of them. 

To ensure you get the best results from your Black Friday ad campaign, be mindful of the nitty-gritty details. To make this easier, keep the following checklist handy:

  • Budget: What’s your budget for the Black Friday ad campaign? How can you effectively distribute it across different advertising and social media platforms? 
  • Copy: Is your copy clear and easy to understand? Double and triple-check for spelling and grammar mistakes. 
  • Platform features: Are you using all the relevant marketing features the platform you chose has to offer? For example, are you using the right targeting tools on Facebook? Is your Instagram ad campaign visually appealing? 
  • Platform limits: Be careful about the platform limits like word count, number of characters visible, image display, and page position. This can mess up how your ad is seen if not done right. 

Black Friday Ad Campaign Frequently Asked Questions

Here are some of the most frequently asked questions about Black Friday Ad Campaigns.

Is building a Black Friday marketing plan a good idea?

Yes, Black Friday marketing is essential. E-commerce shoppers collectively spend billions during the Black Friday season, making it one of the most lucrative times to up your marketing game.

How should I pick the keywords I target for my Black Friday tactical ad campaigns?

To pick the right keywords for your Black Friday ad campaign, you can use keyword research tools like Ubersuggest, Ahrefs, and Moz. Studying your audience’s needs and consumption habits can also help you understand which Black Friday ad keywords will and won’t resonate.

When should my Black Friday ad campaign start?

If you want to make the most out of your marketing efforts, I recommend beginning early. Start teasing and promoting your offers at the beginning of November to build curiosity and excitement. Plus, it’s cheaper than starting closer to the event.

What are the top tips for ad campaigns for Black Friday 2021?

The top tips for ad campaigns for Black Friday 2021 include audience research, using targeting and retargeting techniques, cashing in on the Cyber Monday sales, and offering abandoned cart recovery deals.

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Tactical Black Friday Ad Campaign Tips Conclusion

Black Friday can be a huge opportunity to attract customer attention, build brand awareness and boost revenue.

It may sound a little intimidating at first, considering the scale of the event, but I hope the tips above help you outline an effective Black Friday ad campaign strategy.

If you’d like to learn more about audience research and ad targeting, check out my guides to find your target audience and powerful ways to improve your Facebook targeting

Which strategy would you like to start with to ramp up your Black Friday ad campaign efforts?

11 Tax Write Offs for Small Business That May Surprise You

You have to pay your taxes. Not only is it illegal not to, but paying your personal and business taxes is a major factor in fundability. If you apply for business funding and a lender sees you have not been paying your taxes, it will likely result in denial. After all, if you can’t pay your taxes, how can they believe you will repay them?  That said, there is no reason to pay more than necessary. There are several tax write offs for small business that can help. Many of them may surprise you. 

Tax Write Offs for Small Business Can Save You Money

In truth, a tax professional is the best way to make sure you take advantage of all of the tax write-offs available. There are more than most realize. Below is a list of tax deductions for small business that can help.  Remember, this is not a complete list, and not every business will be eligible for every deduction. Always work with a tax professional to ensure your business taxes and personal taxes are filed properly. 

Learn more here and get started with building business credit with your company’s EIN and not your SSN.

11 Tax Write Offs for Small Business

Check out this list of tax write offs for small business, and ask your tax professional if any of them are an option for you.

#1: Simplified Home Office Deduction

When it comes to business tax write offs, this one is pretty popular. Most everyone knows there is a way to deduct home office expenses on your taxes. If you work from your home, you can deduct the portion of that home that you use specifically for business purposes. However, you must have a dedicated office space that you only use for work.  Then, you have to determine the percentage of home expenses that are associated with the business. 

For example, if your home office space is ¼ of the total square footage of your home, you can deduct ¼ of the utilities, etc. as a business expense. As you can imagine, this calculation can get complicated and tedious quickly.  As a result, a lot of home business owners do not take this deduction. They do not feel they can properly keep up with it.  Some do not feel the deduction is worth the time it would take to keep up with all that is necessary for the calculation.

What you may not know is that there is a simplified calculation for this deduction. The simplified option is a quick and easy way to determine your home office deduction.  You just multiply the total square footage of the space you dedicate to work only by $5.  Remember, the maximum amount you can claim using this method is $1,500 

#2: Qualified Business Income Deduction (QBI)

If you own a sole proprietorship, partnership, or an S corporation, you may be eligible for a qualified business income deduction. If so, you could deduct up to 20% of your qualified business income from your tax return. 

That means if you have qualified business income of $100,000, you can deduct $20,000 and only pay taxes on $80,000. 

#3: Bonus Depreciation

Depreciation tax write offs for small business are nothing new.  Business assets like equipment are depreciated on the books over time at a set rate. That means you do not count the full cost of the item in the first year it is purchased. However, under bonus depreciation, you can deduct more than standard depreciation in the first year. 

Before 2017 the bonus depreciation amount was 50% of the cost. Then, you would depreciate the remaining 50% of the cost over the life of the asset. However, the new law says that for anything purchased between September 27,  2017 and January 1,  2023, you can deduct 100% of the cost in the first year the item is put into service. 

Learn more here and get started with building business credit with your company’s EIN and not your SSN.

You don’t have to, but it could be advantageous to do so. Your tax professional can help you make that decision.

What types of items qualify for bonus depreciation?  Tangible assets with a useful life of 20-years or less as dictated by the IRS. 

Some items that fall into this category include: 

  • Machinery
  • Equipment
  • Computers
  • Appliances
  • And furniture

#4: Business Related Legal and Professional Fees

If you use an attorney or an accountant for business services, their fees are deductible. Did you have an accountant prepare your taxes? That’s deductible. Using an attorney to help draft employment contracts or a writer to write a business plan? That is all deductible.

#5: Dues and Memberships

Fees paid to professional organizations for membership are deductible.So, a pediatrician could deduct any fees paid for membership to the American Academy of Pediatrics, or an architect could join the American Design Drafting Association (ADDA).  If the business pays the fees, it is tax deductible on that business’s tax return. 

#6: Interest on a Business Loan

Did you know you can deduct the interest you pay on a business loan? If you meet a few qualifications that is. 

Qualifications include: 

  • Funds come from an actual lender, not family or friends
  • You are liable for the debt, legally
  • Both you and the lender intend for the debt to be repaid

It’s also important to note that you have to actually spend the loan funds. You can’t just put them in an account and make payments. That’s considered an investment by the IRS, and therefore does not qualify as one of the tax write offs for small business. 

#7: Bank Charges

Pay attention to your bank and credit card statements. All those little charges and fees are tax deductible. It may not seem like much, but they can add up. Especially when you consider all of the charges this can ecompass. 

Costs such as: 

  • Cash deposit fees
  • Merchant service fees
  • Late fees
  • Online banking fees
  • And even credit card convenience fees

These all count, so keep up with them.

#8: Continuing Education Expenses

As a business owner, you can pay for continuing education for your employee and yourself, and it could be tax deductible.  The IRS says if the cost is related to training that maintains or improves skills required for the job, it is  deductible. The deduction includes a number of education related expenses. 

For example: 

  • Course fees and tuition
  • Books
  • Supplies
  • Lab fees
  • And other similar items

#9: Business Animals

Animals that are used in the course of business are tax deductible. That means both the cost of the animal itself and the care and feeding of it. Of course, you can’t just buy a dog or cat and call it a business animal. However, if you have a dog and you use it as a guard dog in your business, some of those expenses could be tax deductible. 

One fun example is a junkyard owner who bought cats to help with rats. The IRS ruled it was a legitimate business expense and therefore, deductible. 

If you are an animal breeder,  you can also deduct costs related to animals for breeding. 

Learn more here and get started with building business credit with your company’s EIN and not your SSN.

#10: Website and Other Internet Related Expenses

The costs associated with maintaining a website can be tax deductible.  This may include hosting fees, design costs, and a number of other related expenses.

#11: Magazine Subscriptions

You can deduct the costs of some subscriptions, including those for professional journals, trade publications, and even technical journals. It’s important to note that you cannot deduct the cost of magazines for a waiting room. 

Don’t Do It On Your Own

Want to know the number one sure fire way to pay more than you need to in business taxes?  Try to do them yourself. Don’t do that. Hire a professional. After all, the fees are tax deductible. Then, you can know you are getting all the tax deductions for small business you are eligible for. Don’t let not paying taxes negatively affect business fundability. Want to know more about fundability and what may be affecting yours? Try a free consultation with one of our business credit specialists now. 

The post 11 Tax Write Offs for Small Business That May Surprise You appeared first on Credit Suite.

How to Increase B2B Sales 150% During a Slow Q4

It’s Q4, and the pressure is on.

You have three months left to hit your sales targets and end the year on a high note.

The only problem?

Your sales pipeline is dry. No one is signing up for your offers, and your forecast looks bleak.

Luckily, not all hope is lost.

I’ve compiled some of my top strategies which will help you increase B2B sales and smash your Q4 targets. Not only have these tips helped grow my agency, but these are tried-and-true methods we use for our clients as well.

Let’s dive in and open the B2B sales flood gates.

10 Ways to Increase B2B Sales

Whether you’re an SME or a massive conglomerate, you can use these strategies to increase your sales and give your Q4 pipeline a kick in the direction.

1. Leverage Social Selling

Still not sold on the buying power of social media? You’re leaving money on the table.

  • Fifty-four percent of social media users research products on different platforms.
  • Seventy-one percent of users will make a purchase based on social media referrals.
  • Seventy-seven percent will choose a brand over a competitor after a positive social media experience.

What is social selling? It’s the process of finding and engaging with your potential customers online. 

Every time you log into Instagram and reply to a DM or share an article on LinkedIn, you’re providing value and social selling. It’s a much softer approach than cold emailing and focuses more on building long-term, authentic relationships than traditional sales techniques.

how to improve b2b sales - social selling

How can you leverage social selling?

  • Position your brand as the go-to industry expert: Use content marketing to answer your prospect’s most pressing questions and lead them down your marketing funnel.
  • Share case studies and testimonials: Social proof is a driving factor for online purchases. Use your results to prove you’re the best and develop a deeper know, like, and trust factor with your audience.
  • Focus on engagement: Instead of spending all your time creating content, focus on building relationships. Reply to all your DMs, jump into conversations in LinkedIn groups, follow your ideal customers, and engage with their content.
  • Talk about your transformation: Businesses and people buy transformations, not features. When talking about your product or service online, focus on the result someone gets from working with you.

2. Support Your Sales Team

If there is one thing that can ruin a potential sale, it’s bad sales rep interactions.

Whether it’s someone dropping the ball and ignoring an email for weeks, or a dumpster fire cold email, it can quickly tank your brand’s rep and Q4 income goals.

How do you prevent a sales mishap?

By training your team.

People buy from people they know, like, and trust. Your sales reps need the tools to figure out how to develop a rapport and close the sale.

For a successful Q4, make sure your sales training includes:

  • Scripts for people to fall back on and avoid awkward silences or sounding unsure.
  • How to overcome common objections and communicate your brand’s results.
  • Strategies for finding leads and moving each one along the buyer’s journey.

Remember, the better trained your sales team, the quicker you’ll get to your 150% Q4 sales target.

3. Cash in on the Holidays

The holidays are a gold mine for increasing your B2B sales. With the right strategy in place, you can scoop up some of the disposable income people have during these months.

Here are some ideas to get the ball rolling:

  • Use expiring bonuses: This works well for Black Friday and Cyber Monday. Each day, remove one bonus to create a sense of urgency and FOMO (fear of missing out).
  • Increase the price: Start with your lowest price for an offer, and slowly increase it each day.
  • Create an exclusive offer: Put together a new product, service, or package for the holiday season. You can add a sense of urgency by telling your audience it’s only available for the holidays.
  • Offer free shipping or a discount: Cash in on the psychology of free stuff to lure in more sales. Getting something for nothing is a powerful emotional trigger known as the “zero price effect” and it’s extremely hard to resist.

4. Ask Existing Clients for Referrals

Referrals are the backbone of any business.

Why?

It’s the easiest sale you can get.

Unlike a cold pitch where you have to establish trust before someone gives you a yes, referrals are warm leads. The person already trusts your brand and is ready to give you their money because the personal recommendation came from a friend, family member, or colleague.

It’s one of the reasons why influencer marketing is dominating the online space. Brands are paying for the endorsement and trust the content creator has with their audience, which has more sway than a random ad in the newspaper.

How do you get more referrals? Create a referral program.

You reward your biggest fans for doing the hard work for you: finding quality niche-specific leads that usually lead to sales.

How to Increase B2B Sales - Ask Existing Clients for Referrals

5. Don’t Neglect Cold Calling or Emailing

Cold calling (or emailing) is not dead.

It’s very much alive and kicking and one of the best ways to increase B2B sales for Q4.

However, there is a catch.

Cold outreach is only effective if done correctly.

If you’re mass spamming everyone and anyone with no real strategy, you’re not going to see any results.

Why?

No one likes to waft through irrelevant pitches. You’ll earn brownie points by taking the time to identify a problem you can solve and presenting a solution in a format that feels tailored, not mass-produced.

6. Use Paid Ads to Increase Leads

Not using paid ads yet?

With more people online than ever before and 80.76 percent of the global population owning a smartphone, it’s time to dip your feet into this gold mine.

By honing in on the keywords your audience uses to find solutions to the problem you solve, you can increase B2B sales while you sleep.

If that’s not enough to get you opening up a Google AdWords account, this will:

  • PPC ads yield 50 percent more conversions than organic advertising.
  • Google ads can increase brand awareness by 80 percent.
  • Paid ads have a 200 percent ROI rate.

The results are equally impressive on social media. The Content Marketing Institute found B2B paid advertising increased to 83 percent, with LinkedIn ads dominating the pack.

Of all paid distribution channels, paid social media ranked second in producing results, with SEM taking first place.

7. Create a List of Potential Clients

The best strategy for increasing B2B sales? Knowing exactly who you want to target.

Before diving into any of the other tips in this post, get clear on who you want to convert into paying customers.

It’s the foundation of your game plan. Without it, you’re only wishing for a result instead of making it happen.

How do you make a list of potential clients? Answer these questions:

  1. How many employees does your dream client have?
  2. How much does the business make in annual revenue?
  3. What is the niche problem you solve?

The more specific you get here, the better chance you’ll increase your B2B sales during a slow Q4. 

Once you have those answers, you can use tools like LinkedIn or Angelist to find companies that match your dream client description.

How to Increase B2B Sales - Create a List of Potential Clients

8. Develop a Strong Email Marketing Strategy

Almost every couple of years, Facebook, Instagram or Twitter goes down, and influencers, business owners, and users start spiraling. 

It’s a harsh reminder that any of the apps you’ve spent hours on growing a community can vanish with a click of a button.

That’s why it’s crucial you get your followers onto a platform you can control, like email marketing. Not only will you always have access to your list (unless someone unsubscribes), but it’s profitable.

According to OptinMonster, email marketing generates $44 for every $1 spent. That’s a mindblowing 4400 percent ROI, making it one of the best ways to increase B2B sales.

Start your Q4 off strong and warm up your list with a strong email marketing strategy. 

Don’t have a list? Use the next three months to grow one with email opt-ins like:

  • e-books
  • cheatsheets
  • checklists
  • industry reports

9. Prioritize Video Content

Video marketing is here, and it’s disrupting the industry, but what makes it so successful?

After all, isn’t it faster to scan a few lines of a blog post (like you’re doing right now) than sit through an entire 10-minute video?

While videos do require a bigger time commitment, customers still prefer it to text, and it has a plethora of business benefits.

With Instagram trying to compete with TikTok, the platform is working hard to gain market share.

The result? Instagram Reels has high engagement, and the algorithm prioritizes it above photo posts. In fact, Instagram came out and said it’s a video-sharing platform, not a photo-sharing app.

The takeaway: There’s no better time to add videos to your content marketing mix and use it to increase your B2B sales. Start a YouTube channel, develop a Reels strategy, or embed videos on your website.

10. Use Case Studies to Increase B2B Sales

Selling to B2B is a little different from B2C.

For one, there’s usually more than one person involved in the decision process. If you want a resounding yes from everyone involved, you need to show how your product or service delivers value.

One of the most powerful marketing tools you can use to illustrate this is case studies. This piece of content is typically used near the end of the consideration and early decision stage of the buyer’s journey. It can help sway business your way when a prospect is deciding between two possible solutions.

With 81 percent of people trusting friends or family over a business, a case study helps you leverage an outsider’s perspective in your favor. 

Even though you’re creating the content, it’s about how one of your customers achieved a specific result and what someone can expect from working with you.

It’s that all-important social proof we spoke about earlier, and it can go a long way in driving more B2B sales in Q4.

Frequently Asked Questions About Increasing B2B Sales

What is a B2B strategy?

A B2B strategy is a marketing strategy employed by a company that sells products or services to other businesses instead of individuals.

What are the four types of B2B marketing?

There are four types of B2B marketing: producers, resellers, governments, and institutions.

What is the B2B selling process?

The B2B selling process is a business’s steps to market and sell its services or products to another business.

What does B2B mean in sales?

B2B stands for business-to-business. It happens when a business transaction takes place between two companies. For example, one company will buy raw materials from another to make their final product.

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, {
“@type”: “Question”,
“name”: “What does B2B mean in sales? “,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: ”

B2B stands for business-to-business. It happens when a business transaction takes place between two companies. For example, one company will buy raw materials from another to make their final product.


}
}
]
}

Increase B2B Sales Conclusion

While the world of B2B sales has changed a lot over the last 10 years, you have a whole host of new tools at your disposal. Instead of resisting social selling or the rise of video content, embrace it, and use it to increase your B2B sales for Q4.

Remember, the more proactive you are with your strategies, the bigger your competitive edge. Keep experimenting with your sales strategies and stick with the ones which give you the results you want.

Which of these strategies are you going to use to increase B2B sales in Q4?

Culture Biosciences (YC W18) Is Hiring Product Managers to Make AWS for Biotech

Article URL: https://www.culturebiosciences.com/careers?gh_jid=4712856003

Comments URL: https://news.ycombinator.com/item?id=28851061

Points: 1

# Comments: 0

Okay (YC W20) Is Hiring a Fullstack Senior Engineer

Article URL: https://www.ycombinator.com/companies/okay/jobs/0O0s8usap-fullstack-senior-engineer

Comments URL: https://news.ycombinator.com/item?id=28854628

Points: 1

# Comments: 0

What No One Will Tell You About Retail Credit Cards

When you get a credit card tied directly to a store, it’s called a retail credit card. Common examples include retail credit cards from Lowe’s and Office Depot. Generally, you can only use these accounts at the specific store that issues the card. Some stores offer credit accounts with net terms rather than retail credit cards. 

Retail Credit Cards and Accounts Can Push Business Credit Beyond the Beginning

There are a lot of steps to building a business credit profile that many business owners just don’t know.  We do our best to help out in that area, but once you get started, you have to keep going. Building a fundable foundation is important, of course. You cannot have business credit without that. 

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

Then, you have to get initial accounts reporting. That’s where starter vendors come in. Yet, you can’t stop there. That is just the effort it takes to build the snowball and get it to the edge. You have to push it down the hill if it is ever going to grow. 

That is where you get to the next step after starter vendors. In the Business Credit Builder we call it Tier 2. This is where second step credit providers live. 

Retail Credit Cards and Accounts: AKA Tier 2 Credit Providers

There are various types of credit providers in the Tier 2 category. These are credit providers that will approve you with limited business credit history or a personal guarantee. What really sets them apart is that they will report your on-time payments to the business credit reporting agencies. 

Not all business credit providers do that. Many will only report late or missed payments, if they report anything at all. However, if you find those that report positive payment history, your business credit profile continues to grow. Your business credit score continues to grow as well. 

This is how your business credit score can really take off. 

Finding Tier 2 Retail Credit Providers

It can be a bit tricky to find these types of accounts. Despite the fact that most large retailers offer retail credit cards or net accounts, many do not make it easy to find out whether or not they will report. If you are working on building business credit, reporting on-time payments is vital. 

That’s part of the value of the Business Credit Builder.  There is a whole database full of Tier 2 vendors that report. We list them for you along with what it takes to get approval and which business credit agencies they report to. 

Some will still extend credit, and still report to the business credit reporting agencies, even if you do not meet the requirements or do not have enough business credit history. The catch is, they will require a personal guarantee.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

Retail Credit Cards or Net Accounts and a Personal Guarantee

Others will not require a PG, but it will make it much easier to get approved with minimal business credit history. This is why the first steps of the Business Credit Builder are so important. Without a strong business credit profile, you may be able to get approval with a PG.  In contrast, if you build a solid foundation and business credit score with starter vendors first, you can get approval without a PG.

That right there is the secret that no one wants to talk about when it comes to retail credit. You do not have to give a personal guarantee to get it. There is another way. You can build a strong business credit profile before you apply. 

It’s not that a personal guarantee is bad, per se. Sometimes you may need it to get started. Still, it does add more liability to you personally. So, if you can get away without it, why not?

Examples of Tier 2 Retail Credit

Here are just a few options from the Business Credit Builder. 

Home Depot

Home Depot requires: 

  • An EIN 
  • Business address- matching everywhere.
  • D & B number
  • Business License- if applicable
  • Business Bank account

They also  like to see a minimum of 2 accounts reporting.  But, they will  look at the merit of the overall application, so minimum accounts reporting isn’t necessarily a deal breaker. 

They also require a business phone number listed in the 411 directory and at least 3 years in business. The minimum PAYDEX required is 80, and you must also have a good Experian business score.  You can request Net 60 terms after the account is established. 

If there is not enough business credit history or you have been in business for less than 3 years, a Personal Guarantee(PG) is required.

Quill.com

Quill.com sells supplies any business can use in day-to-day operations, including office and cleaning supplies.  For approval, they want to see: 

  • Business address- matching everywhere
  • D & B number
  • Business License- if applicable
  • Business Bank account
  • At least 3 trade/credit references
  • A good D&B paydex score of 80 or higher
  • That the business has been established for at least 6 months

New businesses or businesses with no credit history with D&B may need to pre pay purchases for 3 consecutive months until Net 30 is approved. 

Office Depot

To get approval for Net 30 with Office Depot you must have: 

  • An EIN 
  • A business address- matching everywhere.
  • Your business License- if applicable
  • A business bank account
  • At least 3 years in business
  • A good D&B paydex score of 80 or higher and good Experian business credit score

If any above criteria is not met, a Personal Guarantee (PG) is recommended but not required.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

Once you’ve got your 5 (or more) starter vendors reporting, you should be eligible for credit from these retailers. That is, assuming you have handled your credit from starter vendors wisely. As you can see, exact requirements for approval vary by lender.

Retail Credit Cards or Net Accounts and Building Business Credit

Many of these credit providers have more than one option for business credit. For example, they may offer net terms as well as a revolving account. If you do not qualify for the revolving account, you may qualify for net terms. 

You can use the net account to help you build your business credit profile until you qualify for the revolving account. These examples can help you see what’s out there and what it takes to get approval.  They make it crystal clear why building a fundable foundation and getting initial accounts reporting using starter vendors is vital. 

Once you do so, you can get retail credit accounts from tier 2 reporting as well. This keeps the snowball rolling and growing allowing you to pick up bigger accounts with better terms.  If done properly, the need for a personal guarantee can be kept to a minimum.

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