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How to Drive Sales with Ecommerce and Social Media

How to Drive Sales with Ecommerce and Social Media

Social commerce involves the use of social media platforms to market and sell your goods and services. Statistics show that it is becoming increasingly popular, coinciding with the rapid rise in the amount of social media users. For any company that depends on eCommerce, an effective strategy for social commerce is essential. Here are some ideas on how you can use them to drive sales for your company.

Focus on Appropriate Platforms

The demographics of your target audience will determine the social media platforms that are consistent with your brand. Although there is overlap, Facebook, Instagram, TikTok, and YouTube each vary in the audiences they attract and have diverse features that can support your social commerce efforts. If your marketing budget is limited, study these audiences and features carefully before committing your resources.

Use a Personalized Approach

In the modern era of digital marketing, social media platforms possess detailed information about the consumers that use them. Your sales team can take advantage of this information to send personalized suggestions to prospective buyers.

Include User-Generated Content

Besides highlighting attractive images of your products, make your social media sites more relatable by including content created by consumers. User-generated content adds a degree of intimacy to your brand’s social commerce messages.

Provide a Seamless Experience for Shoppers

Streamline the social commerce experience for your customers so they can swiftly and easily proceed from their initial encounter with your message to checkout. Your calls to action should be clear, and there should be direct links to pages where your products can be purchased. To avoid confusion, make the entire process as simple as possible.

Maintain Consistency in Your Message

Be sure to integrate your social media marketing messages across the various platforms. The consistency of your brand profile will inspire loyalty and trust, and this will lead to more sales.

For more advice on using a social commerce strategy to drive sales, get in touch with Hedge Commercial Capital.

Stay Ahead of Your Competitors with these 5 steps

Stay Ahead of Your Competitors with these 5 steps

Competition can sometimes be painful, and businesspeople can moan about it, but one thing is sure. Competition is essential, even fundamental to a healthy economy. As ancient Roman poet Ovid humorously wrote, “A horse never runs so fast as when he has other horses to catch up and outpace.” But getting ahead of “the other horses” in business doesn’t happen by chance. No, it takes a well-developed competitive business strategy.

The Benefits of Competition

The benefits of healthy competition include:

  • Awareness and market expansion. The more competition that exists, the more aware potential consumers are of products and services and that increases market demand. 
  • Higher quality at lower prices. Competition pushes companies to increase quality, and competitive pressures keep prices lower than if there were no competitors. 
  • Consumption increases. Due to higher awareness, higher quality, and lower prices, consumption invariably increases. 
  • Differentiation. Because of trying to separate each brand from others, differentiation and uniqueness exist between brands, expanding consumers’ choices. 
  • Increased efficiency. As companies battle for consumers, their business efficiencies improve. 
  • Customer service and satisfaction. As companies implement their unique features and strive for greater numbers of customers than their competitors, their customer service and satisfaction generally increase.   

Advances against competition don’t take place without a competitive business strategy. 

Why Is It Important to Stay Ahead of Your Competitors

Staying ahead of your competitors can result in more customers, greater sales, increased market share, and higher profits.

Stay Ahead of Your Competitors with These 5 Steps

Staying ahead of your competition requires a competitive business strategy using these five steps:

  • Know your competitors specifically and thoroughly. 
  • Define and know your own customers, their needs, and interests. 
  • Formulate a business and marketing strategy that will differentiate your business. 
  • Hire the best employees and create a strong culture. 
  • Make technology serve you well.   

Seek Expert Financial and Marketing Services Assistance

Contact Hedge Commercial Capital, based in Chicago, Il. We provide a wide variety of sophisticated financing solutions to meet your needs and professional marketing support to drive your success.

When Banks Let You Down, Consider Alternative Financing

When Banks Let You Down, Consider Alternative Financing

Obtaining a loan from a bank can be a difficult experience. First, there is a detailed and often-intrusive application process to wade through. Second, it may take some time for a funding decision to be rendered. And, finally, when all is said and done, you may be denied a loan.

Fortunately, there are other financial products besides loans from a bank available to small businesses. Furthermore, there are other types of institutions that provide these financial solitons.

Common Types of Alternative Financing

A whole spectrum of options is available to small business people today. Here are just a few of the common options that are available:

  • Invoice Factoring. Proceeds from the sale of your unpaid invoices to a funding agency.
  • Merchant Cash Advances. Immediate infusions of working capital into your business that are taken against your future credit card sales.
  • Peer-to-Peer Lending. Peer-to-peer lending, also known as social lending, enables individuals to obtain funding directly from other individuals, thereby eliminating the financial institution as the middleman.
  • Lines of Credit. This is a preset borrowing limit available to your business that can be tapped into at any time.  

Utilize Trusted Lenders

Whenever money is involved, sharks are swimming in the waters. It is important to utilize a funding agent that is viable, operating with integrity, and not promoting a scam. Fortunately, the vast majority are like that.

Be sure to evaluate the following:

  • Does the funding agent have a physical address?
  • How long have they been in business?
  • Have they run afoul of the Better Business Bureau?
  • Can they provide a list of satisfied customers?  

Legitimate lenders know that their success hinges on maintaining a stellar reputation.  These firms take steps to safeguard their own business and that of their customers.

Hedge Commercial Capital Can Help

Hedge Commercial Capital stands ready to help small businesses of all sorts through financial difficulties. Connect with us to find out more about their portfolio of funding solutions.

What to consider when thinking about online lending

What to consider when thinking about online lending

If you are a business owner, you have come across online lending in your quest for funding. This is a form of financing that does not come from traditional banks. Online lending has successful models such as peer-to-peer lending, lines of credit, merchant cash advances, and factoring. This mode of financing gives borrowers plenty of options, unlike in the past. However, as expected, people have concerns about how legitimate online lending is. So before you take it, consider these things mentioned below.

Confirm Physical Address

As much as an online lender operates online, if they are legitimate, they need to have a physical location from where they work. This location needs to be listed on the website. Once you see the location, you can verify whether it is real through Google maps. If you cannot find it, proceed with caution as the business may not be legit.

Check Reviews From Other Entrepreneurs

Reviews from other business owners can give you more information about what an online lender is all about. However, be cautious when it comes to this. Reviews can be faked by either supporters or competitors. Do not solely rely on them to form an opinion.

Research Third-Party Verification of the Lender

Third-party verifications can give you some confidence that this is a legitimate lender. One institution that is quite popular is the Better Business Bureau. Through it, you can check how a business has been rated. An online company that seeks third-party verification shows that it is trustworthy, and you can depend on it for your online lending needs.

Confirm the Website’s Ownership

Running a WHOIS check will only take a few seconds but will give you the information you need. You will learn who owns the site and how long the site has been on. This can let you know if you are really dealing with an online lender or scammer. If you find any registration details questionable, ask the lender for clarification.

At Hedge Commercial Capital, we understand that online lending might not feel straightforward, especially if you are used to traditional forms of lending. That is why we make the process straightforward by giving you all the information you need. Contact us today for your business financing needs.

Alternative Financing Solutions for Minority Entrepreneurs

Alternative Financing Solutions for Minority Entrepreneurs

While almost every citizen can access financial aid for their business, the case is slightly different for minority entrepreneurs. As you work hard to improve your venture, accessing funds to maintain its operations as a minority is crucial. Besides the banks and credit unions, learning the alternative financing solutions is beneficial. This guide explains your options.

Business Lines of Credit

You can access funds for your business as a minority entrepreneur by applying for a line of credit. With a line of credit, you get funds as needed, depending on your industry and line of work. Using lines of credit, minority entrepreneurs avoid the hectic application process that comes with backs and other financing solutions.

Merchant Cash Advance

A merchant cash advance can serve a minority entrepreneur in several ways. This financing option allows the entrepreneur to process credit card transactions and get the needed funds for future sales. As a borrower, you agree to forgo part of your credit card receipt until you make the repayments as agreed with the lender. This quick and easy financing option will serve your business efficiently.

SBA Microloans

The availability of SBA microloans should be helpful to minority entrepreneurs looking to fund their businesses. The low-interest rates and flexible repayment terms should encourage any minority entrepreneur to consider this financing solution. Note that the funding depends on the industry and the financing needs of the business. You benefit from this alternative financing option as you have the government’s backing, making it suitable for your business needs.

Invoice Factoring

You can conveniently access the funds needed for your business as a minority entrepreneur by using the unpaid account receivables in exchange for cash. Unlike other financing options, factoring in your invoices is easy. You need a reputable factoring company to meet your expectations as a minority entrepreneur.

Angel Investors

Sometimes it can be hard to access funds needed for your venture from the mainstream lenders. For this reason, looking for angel investors to fund your business and help you grow is an option. Note that minority entrepreneurs working with angel investors can get a platform to learn more about the industry through training and guidance besides the funding.

It is easy for minority entrepreneurs to run and manage their businesses by understanding the alternative financing solutions available. Proper guidance remains vital in this case. Contact Hedge Commercial Capital today for directions.

Follow These Steps to Manage Your Small Business’s Inventory

Follow These Steps to Manage Your Small Business’s Inventory

As you start your small business‘s inventory system, ensure you provide effective management to achieve your objectives. Exercising your management skills in your inventory is one way to guide your business to success. For effective inventory management, learning the related tips is vital. This guide explains the steps to effectively manage your inventory as a small business.

Prioritize Your Business Needs

Prioritizing your business needs should be the first step to effective inventory management. As you go through the different management techniques, ensure your efforts address a specific need in your business. Note that the management technique depends on the type of inventory you have in your business. Ensure your business needs are compatible with the type of inventory to make the management effective.

Analyze Supplier Performance

Understand that an unreliable supplier can cause problems with your inventory. Frequent late delivery and shorts on orders from the supplier’s side can lead to inventory issues that you might find hard to handle. It is important to analyze the supplier’s performance and ensure you can work together to make your management efforts fruitful. The supplier’s information should also reflect your inventory to make the process easier.

Practice Consistency

It serves your business’s interest when you practice consistency in receiving stock, storage, and delivery to your customers after selling. You avoid mistakes that might compromise your inventory management efforts by remaining consistent. Note that the small mistakes and discrepancies in your stock can, in the long run, affect your inventory. Have a routine with how you receive stock, store them and accurately count the goods for effective management.

Track Sales

While this is a no-brainer, it is easy to overlook sales and end up with an inventory that is hard to manage. Ensure you track sales daily and reconcile with your staff to easily update the inventory. Ensure you analyze the data after receiving the stock and immediately after selling the goods to keep your inventory under control.

Embrace Inventory Management Technology

As you put effort into managing your inventory, note that mistakes are possible. You or your staff can get confused with numbers and get unexpected results. The case differs when you embrace technology in inventory management. Invest in inventory technology and systems to make the process easy and effective.

Any small business that manages its inventory successfully is a step closer to success. By learning the steps and ways to effective inventory management, you avoid mistakes that might compromise your business. Reach out to Hedge Commercial Capital today to learn more.