How to Pay for Your Marketing Campaigns
Do you want to reach new customers this year? Of course you do!
To start bringing in more foot traffic through the doors at your restaurant or store, you’ll need to launch a marketing campaign.
To get started you’ll need to make an investment to run the campaigns; however, once launched they should deliver you a return on your investment (ROI). If you’re not sure how you can afford this initial upfront cost, we’ll share a few options with you:
- Pay out of pocket
- Hire interns
- Working capital
Pay Out of Pocket if Possible
When you were building your overall budget for the year, you may have put in a specific dollar amount for marketing and advertising. If so, you’re in luck because you should have the cash you need already allocated.
However, you may find that the amount you budgeted is not enough for the type of campaigns you really want to run. If this is the case, or you have no budget for your marketing, read on to the next two sections.
Hire Interns to Assist You
(You Get What You Pay For)
You may think that it’s a good idea to hire an intern to help with your marketing campaigns.
While you may be able to hire a knowledgable intern who is a marketing graduate student or similar, your intern will be very low on real world experience.
Before hiring an intern, consider that you are essentially paying someone to learn on the job. Yes, legally you do need to pay interns if they are performing tasks for you that are advantageous in some way.
We advise most small business owners to skip the interns and hire a professional who can deliver a strong return on investment (ROI) right from the beginning.
Obtain Working Capital
If you are serious about running successful marketing campaigns but do not have the budget to pay out of pocket for your campaigns, you can take out a Working Capital loan. These business loans can be approved and funded through ARF Financial’s network of partner banks within 7 to 10 business days.
For example, a large specialty restaurant struck a momentous marketing deal with a local university’s athletic department but needed $100K within a week.
The restaurant owner explained that he needed to provide at least half of the money by the following Friday.
ARF Financial was able to fund his deal within six days and his restaurant is now featured at all home football and basketball games at the university. His business is also highlighted on all home game tickets along with coupons the students use at all three of his locations!
If you have a big marketing opportunity, or you want to create your own big opportunity, now is the time to apply for a working capital loan.
Your competition may not have a better product, but they may drum up more interest with quality marketing if you don’t take the lead.
Get the word out about your business by contacting ARF Financial’s loan consultants today and ask about a working capital loan.