Is Your Business Affected By The Lack Of Tourism?

You shouldn’t let that happen. Here are a few reasons why!

It is estimated that tourism contributes around £130 billion to the UK’s economy, employs in the region of 3.2 million people and generates £39 billion in tax revenue for the UK government. Indeed, tourism has been the heart of the UK’s economy for generations, providing much-needed employment and investment opportunities across the UK. However, since March, international travel has slowed down to a trickle due to the absence of lots of flights and various strict quarantine rules. As a result, many businesses that rely on demand from tourism have had to make significant choices given that they only have so much cash reserves.  

Karl Chessell, Business Unit Director, Retail and Food at CGA, says: “The last four months have been the most difficult period of trading that most of us in the industry have ever seen. CGA’s data shows how the pandemic caused a sudden and dramatic downturn in sales and had a seismic effect on consumer behaviour, and the big question now is how quickly the market can recover.”

“There are clearly many tough challenges ahead, but with the backing of consumers and the right support from the government, businesses cannot just survive the pandemic but thrive in the happier times that lie ahead.”

One potential opportunity that businesses can take advantage of is the emergence of a new trend where there is an increase in the demand for local tourism. With Hotel chains given the all-clear to reopen on July 4th, many have experienced a surge in bookings for local travellers as they wait for global tourism to open. 

Local tourists are gaining more confidence in going out and spending as the government has recently published guidance on how they’re allowing UK tourism and visitor attractions to reopen to the public to boost the economy and local businesses across the country. The advice includes guidelines for hotels and accommodation providers – such as campsites, caravan parks and short term lets – as well as indoor and outdoor visitor attractions and conference and events centres. A new industry standard has also been introduced by VisitEngland for hotels, accommodation providers and visitor attractions to reassure the public that businesses are adhering to government guidance. This has acted as a marker to visitors that a venue is practising social distancing, maintaining cleaning routines and has undertaken a thorough risk assessment to protect customers when on site.

Culture secretary Oliver Dowden said “Britain needs a break, and from July 4th people can now take a well-deserved staycation. We’ll need the public to keep safe on holiday by following the advice we’re providing, but there is no doubt this is the news many have been waiting for. I am looking forward to a British holiday myself.”

“Our guidance will help the tourism businesses reopen safely, reassure locals and allow businesses to welcome guests back with confidence.”

Additionally, in a bid to boost local businesses that depend on tourism, the government has funded £10 million as part of their Kick-starting Tourism Package. Speaking at the Local Government Association’s annual conference, the Minister for Regional Growth and Local Government Simon Clarke MP had announced that the new funding will be distributed to communities recognising that the tourism sector is hugely important in supporting local businesses, creating jobs and driving local economies in villages, towns and cities across the country. Small businesses in tourist destinations will receive grants of up to £5,000 to help them adapt their businesses to the coronavirus pandemic by helping to pay for specialist professional advice such as human resources, legal or financial expertise, to adopt new technology and online systems or to purchase new equipment. 

This initiative will, in turn, support the £50 million government funding for councils to support their local high streets back in May 2020, which allowed investment in a range of practical safety measures including new signs, street markings and temporary barriers which helped businesses begin trading safely, not only in high streets and town and city centres but also in other public spaces like beachfronts and promenades. Councils were also able to use the money to develop local marketing campaigns to explain the changes to the public and reassure them that their high streets and other commercial areas are safe.

While some cities may see tourism return rapidly, for example, cities like Blackpool home to one of Britain’s most famous seaside resorts are generally much more dependent on domestic tourism. In comparison to cities like London, Manchester, Birmingham or Glasgow are much more reliant on overseas tourism may experience a more gradual increase in consumption. Although, provided that people’s behaviours follow a national lifting of restrictions and with all the funding support and guidelines the government have put in place, as mentioned above, this growth will surely accelerate as time goes by. So, it’s imperative for local businesses that rely on tourism to stay firmly open for business and meet the eventual surge in demand as we progress within this path to recovery.

How to Increase Revenue Returns by Building a Business Model Based on Value

Most entrepreneurs fail to realize that running a successful business isn’t just about creating an innovative product and making sure it delivers on the promise. It’s about marketing your products and services, setting the right price, selecting appropriate delivery channels to reach a wider audience, and converting first-time visitors into loyal customers.

If you wish to increase your revenue, you need to define and build the perfect business model by taking your business goals, market demand, and competitors into consideration.

You need to conduct comprehensive market research and study your customers in great detail before you can create a winning business model. You must ask for customer feedback every step of the way and be willing to go back to the drawing board if your customers are less than satisfied with your business. 

You need to add value to your business by making sure your customers’ needs are met and you haven’t compromised on the quality of your service just to expand your target market. Let’s take a look at some strategies for creating value for customers to increase revenue and take your business to new heights of success.

Delivering Value through Your Products and Services

If you want your business to become an instant hit with the customers, you need to look for ways to add value to all your business processes and make sure your customers are satisfied with your products and services.

In today’s competitive market where so many businesses are doing the same thing, you need to figure out a way to stand out to gain an edge over your competitors. You must deliver value through your products and services to make your target audience take you seriously and recognize what your business has to offer and how that sets you apart from others.

The first thing you need to do is to offer better quality products and services at a reasonable or competitive price. Quality is just one aspect that you need to excel at to make your customers recognize that you’re adding value to their lives.

Another thing that will quickly help you get appreciation from your customers is by increasing your delivery speed. If you can satisfy your customers’ needs faster than your competitors, you’ll establish yourself as a reliable business. Not only that, but faster delivery times will also allow you to set the maximum price for your product/service. 

In addition to that, excellent customer service is also needed to win over your customers and earn their loyalty. You must be willing to facilitate your buyers throughout their journey and treat them as your topmost priority. When your customers feel valued, they’ll begin to trust you and won’t hesitate to choose you over your competitors. 

What a Valuable Service Looks Like

Before we can discuss what a valuable service looks like, let’s define value.

What’s valuable to customers is the extent to which a product or service meets their needs while remaining well within their budget. Value can be divided into components: cost and contribution.

Value=Contribution/Cost

Customers will perceive a product/service to be of high quality if its cost is reasonable (low) and it offers the maximum contribution in meeting their needs.

To make sure your service is valuable to your customers, you need to offer a lot more than great quality products and excellent customer service. It’s easier to see if your business is valuable to you because all you need to do is to make sure you’re generating more revenue than the cost it takes to manufacture and deliver your products. 

However, a truly valuable service depends on some factors that are harder to measure:

  • It solves a major problem that many customers face in the least amount of time
  • It relieves the frustration your customers experience when they’re facing the problem
  • It provides your customer with the outcome they’re expecting

Regardless of how well your business is doing in terms of generating revenue, what ultimately makes it valuable is how your customers perceive it.

Building Trust with Your Customers

Before you can get prospective customers to take interest in your products and services, you need to gain their trust through marketing strategies and show them that what you’re selling to them is exactly what you’re marketing to them. Let them know that you’ll be willing to compensate for any loss they incur as a result of your inefficiency. You must realize that you can’t build their trust overnight. You need to make sure you’re offering secure services to your client, assure them that their data is safe with you when they’re making a transaction, and be willing to help them every step of the way.

Final Words

Customer loyalty and satisfaction is the key to adding value to your business. Before you can hope to achieve even a semblance of success, you must make active efforts to market your products to your target audience, ensure that you’re offering the best quality products in the market, and make sure you stand out from your competitors. 

Fore more resources to help increase value in your business. Consider Yalber business funding. Apply here.

The Perfect Campaign: Test, Optimize, Repeat

The Perfect Campaign: Test, Optimize, Repeat

Take a hundred dollars and turn them into a thousand. That’s the basic principle in marketing, right?

No matter if you work with clients or an employee in some company’s marketing department, at one point, we all hear something along the line of “I want you to get me 10 actions every day right from the start.” My answer is usually: “There is no magic formula. Marketing is A/B testing”

And that’s exactly my point. Marketing is all about data. You make a decision based on data you get from clients, purchases, leads, conversions or educated assumptions. It may be an assumption regarding your target audience.

Let’s say you are launching a jewelry store online. Who is your target audience? To asses that, you need to get input from the designer: Who is the jewelry made for? Then, you can create a sample targeting group that matches the demographic information the designer provided. This will be your first test. Once all the creatives are done and live, you are able to measure the results by a few factors.

• Click-Through Rate (CTR): The average between the number of impressions and the clicks the ad got.

• Quality/Relevance Score: How relevant are the creatives and landing pages for the targeted audience? This number is usually rated one to 10.

• Conversion Rate: What percentage of the users who clicked on your ads actually purchased?

• Time On Site Or Bounce Rate

By assessing the results for the different creatives (at least three to four for the first test), you can choose the best-performing one for that audience. Or you may realize that you need to adjust the targeting if, for example, the quality score is low (below six), the CTR is OK but the conversion rate is low and the time on site is short. That will tell you that this is not the right target audience. However, if the quality score is good, the CTR is good but the conversion rate is low, you need to analyze the traffic performance on the landing page and optimize it.

This is just one example of how you can test an assumption and optimize based on that. When you are trying to create a marketing strategy, always question your assumptions. Never promise anyone a magic campaign or huge results with a strict budget.

So, how do we set the right budget for the audience? What I like to do is look at the target audience’s estimated size. Most tools will also give you the exposure-per-set budget, so you can choose the right amount of exposure per day or overall for the test period. There is not a minimum budget to run with, but I never go for less than a few thousand impressions per day. I find that this will give you the best exposure for the test. It may be $20 per day or even $200 per day, depending on the system, audience, competition or keywords.

Many clients expect to spend very little or as little as possible and get amazing results. Never make promises you can’t keep. And until you have tried a target audience and a product, you never know how it will work. Even if you work on a product that already sells, you will be expected to show better results than before, and this is the exact same thing as working on new objectives.

The best campaigns likely had many variations before they saw amazing growth and success. Make sure you always have a few approaches ready to go. The whole point of A/B testing is to test two or more different assumptions. This may be a combination of different creatives, audiences and landing pages. By doing this, you allow your budget to be spent on two different assumptions and optimize the one that works better. Sometimes, you even get good results with the two approaches and it’s a win-win situation.

The thing that never changes is that you need to base your decision on data. You begin with an assumption or past performance data, you go into real-time performance optimization, and then you optimize based on results and do it all over again.

A campaign has to be optimized all the time. Treat it like a little baby — it needs care and love or it will die.

 

Looking for funding? Apply here.

 

POST WRITTEN BY:

Kobi Ben-Meir

Marketing Director at Got Capital. Overseeing the brand and marketing strategies in the US. View the original article published on Forbes.

Increase Returns By Building A Business Model Based On Value

What makes customers choose a product or service provider over another? Customers typically compare their options to find the best value, but this concept goes beyond the mere price of a product or service. Customers are developing a more complex approach to assessing value. For 70 percent of them, a great service is a form of value since they would spend more for this positive experience. Also, for 73 percent of millennials, sustainability is valuable since they would spend more for a sustainable product.

Delivering Value Through Your Products

You need to identify all the ways in which your products deliver value. Shape your message to draw attention to value and look for areas that could be improved to deliver more value.

Shoppers will look at product quality to assess its value. Durable and reliable products appeal to shoppers. More consumers are adopting a budget mindset, and they will spend more if a product lasts longer.

Convenience is another important factor. Your product should be convenient to use, and the process of researching and purchasing the item should also be convenient.

Shape your marketing campaigns around the value that the function of the product brings. Your content can inform shoppers about the value of the product by explaining how the product saves time or how it simplifies a task.

What A Valuable Service Looks Like

For 62 percent of companies, customer experience is seen as a differentiator. Consumers’ behaviors confirm this trend because 86 percent will pay more for a great experience.

Invest in a consistent multichannel experience that delivers the right interaction at the right time. The quality of each interaction matters and can be assessed in terms of how well it meets the customer’s needs and expectations.

Customers will also weigh the cost of the service offered and look for evidence that you are putting efforts into offering the best service possible. They will also consider the reward of the service offered, which you can demonstrate by offering tools customers can use to track their progress while using your services or products.

Building Trust

Trust is a crucial element of the relationship between consumers and brands. You can establish trust by repeatedly meeting and ideally exceeding a customer’s expectations.

Here is what you should focus on to build trust:

  • The values of your organization should appeal to consumers so they can form an emotional attachment.
  • There is a concrete dimension to building trust. You need to consistently deliver quality products that function as advertised.
  • The social impact of your brand matters. Did you know that 53 percent of consumers believe that brands can do more than governments to address social problems? You can deliver value and build trust by connecting with your community.

Further Considerations On Value

A customer won’t be able to assess the real value of a product or service until they make a purchase. Until then, the value is projected or perceived. Your marketing efforts help shape the perceived value of what you offer, but you need to make sure there that are no discrepancies between the perceived value and real value.

Value can be broken down into four elements:

  • The social impact of your business.
  • The life-changing qualities of your products or services.
  • The emotional connection with your audience.
  • The functional aspect of what you offer.

You need a strategy that addresses these four elements. Calculating the ROI of your efforts to increase value can be difficult because sales numbers alone won’t be very indicative. Instead, focus on performance indicators such as your customer satisfaction index and how many shoppers make repeat purchases. Track customer advocacy for your brand on social media.

Investing in value will result in satisfied customers, more sales, and more returns for your business. However, your approach should be tailored to your audience and how they define value. If you are interested in potential strategies to consider, we think exploring AI and chatbots is a great place to start since they can help you offer a better experience and form stronger connections with your audience.

 

Get funded now. Apply here.

Increase Returns By Building A Business Model Based On Value

What makes customers choose a product or service provider over another? Customers typically compare their options to find the best value, but this concept goes beyond the mere price of a product or service. Customers are developing a more complex approach to assessing value. For 70 percent of them, a great service is a form of value since they would spend more for this positive experience. Also, for 73 percent of millennials, sustainability is valuable since they would spend more for a sustainable product.

Delivering Value Through Your Products

You need to identify all the ways in which your products deliver value. Shape your message to draw attention to value and look for areas that could be improved to deliver more value.

Shoppers will look at product quality to assess its value. Durable and reliable products appeal to shoppers. More consumers are adopting a budget mindset, and they will spend more if a product lasts longer.

Convenience is another important factor. Your product should be convenient to use, and the process of researching and purchasing the item should also be convenient.

Shape your marketing campaigns around the value that the function of the product brings. Your content can inform shoppers about the value of the product by explaining how the product saves time or how it simplifies a task.

What A Valuable Service Looks Like

For 62 percent of companies, customer experience is seen as a differentiation. Consumers’ behaviors confirm this trend because 86 percent will pay more for a great experience.

Invest in a consistent multi-channel experience that delivers the right interaction at the right time. The quality of each interaction matters and can be assessed in terms of how well it meets the customer’s needs and expectations.

Customers will also weigh the cost of the service offered and look for evidence that you are putting efforts into offering the best service possible. They will also consider the reward of the service offered, which you can demonstrate by offering tools customers can use to track their progress while using your services or products.

Building Trust

Trust is a crucial element of the relationship between consumers and brands. You can establish trust by repeatedly meeting and ideally exceeding a customer’s expectations.

Here is what you should focus on to build trust:

  • The values of your organization should appeal to consumers so they can form an emotional attachment.
  • There is a concrete dimension to building trust. You need to consistently deliver quality products that function as advertised.
  • The social impact of your brand matters. Did you know that 53 percent of consumers believe that brands can do more than governments to address social problems? You can deliver value and build trust by connecting with your community.

Further Considerations On Value

A customer won’t be able to assess the real value of a product or service until they make a purchase. Until then, the value is projected or perceived. Your marketing efforts help shape the perceived value of what you offer, but you need to make sure there that are no discrepancies between the perceived value and real value.

Value can be broken down into four elements:

  • The social impact of your business.
  • The life-changing qualities of your products or services.
  • The emotional connection with your audience.
  • The functional aspect of what you offer.

You need a strategy that addresses these four elements. Calculating the ROI of your efforts to increase value can be difficult because sales numbers alone won’t be very indicative. Instead, focus on performance indicators such as your customer satisfaction index and how many shoppers make repeat purchases. Track customer advocacy for your brand on social media.

Investing in value will result in satisfied customers, more sales, and more returns for your business. However, your approach should be tailored to your audience and how they define value. If you are interested in potential strategies to consider, we think exploring AI and chatbots is a great place to start since they can help you offer a better experience and form stronger connections with your audience.

 

Get funded now. Apply here.

Got Capital Signs a Multi Million Senior Credit Facility With Shawbrook Bank

A leading FinTech-driven financing company for small and mid-sized businesses (SMEs), Got Capital, has announced the closing of a senior credit facility to increase its funding capabilities.

Got Capital logo

​​Got Capital is pleased to announce the closing of a senior credit facility from Shawbrook, which increases Got Capital’s funding capabilities and enhances our ability to take advantage of significant market opportunities.

“The new facility, from a leading institutional financing partner, is a validation of the strength of our team, our track record of success and the robust platform that Got Capital has built” stated Got Capital’s CEO, Alex Afek.

Since inception, Got Capital has provided thousands of SMEs with over £100 million in working capital solutions. Proceeds from the transaction will be used by the Company to execute its strategic growth plan and accelerate their ability to provide more small businesses with access to attractive non-bank flexible financing.

Small Businesses in UK

Mr. Afek continued, “Small businesses are thriving; representing 99 percent of all UK businesses, accounts for 60 percent of employment and 52 percent of turnover in the UK. Yet, high-street bank credit to this important sector of the economy has contracted sharply. It is estimated that the amount of small business loan origination plummeted by more than half during the financial crisis and has seen only a very limited recovery post-crisis, leaving small business loan originations down 40%. The small business funding space has drastically changed in the past two years. We see more and more sophisticated players in the space, and to me, it’s a sign that the industry is on the right track to be the major funding source of businesses in the U.K. Being able to close this credit facility is strong evidence that Got Capital has a lot to offer. As pioneers in this space, I think it’s important we stay ahead of the curve, specifically in terms of analysis of our customer’s needs and our internal decision-making process. In that sense, Shawbrook Bank and Got Capital share the same vision.”

When small businesses find it hard to overcome finance issues from traditional sources of capital, Got Capital remains committed to helping them accomplish their goals. Got Capital offers small business owners in a variety of industries across the U.K. the option to fund their businesses for any purpose with up to £250,000. The Company’s technology-enabled platform allows for a streamlined process, with most qualified businesses funded within 24 hours.

Mr. Afek concluded; “The closing of this transaction demonstrates that institutional investors have confidence in our business model and expect to see continued, rapid growth.”

Karan Burman, Structured Finance Director at Shawbrook Bank says: “Specialist funders are playing an increasingly important role in plugging the funding gap within the SME market, delivering the dedicated products and support that a business owner or management team requires. Dealing with complexity to deliver the right SME finance solution is what we do at Shawbrook and it’s clear to us that the Got Capital team understand the dynamics of SME finance and the complexity of the market, which is how they’ve already successfully supported thousands of small business customers.”

About Got Capital Ltd:

Founded in 2014 and headquartered in the City of London, Got Capital Ltd is a technology-enabled specialty lender, leveraging proprietary origination, disciplined underwriting and performance analytics to improve the speed, cost and choice of capital available to small and mid-sized businesses throughout the UK.

Grow Your Trade On Instagram With These 3 Easy Steps

For many people, the internet can be a gift and a curse. One terrible review can destroy someone’s business while a tiny hole-in-the-wall, in the middle of town somewhere, can become a gold mine because of a simple search. Word of mouth still exists but these days it spreads faster than cute cats, missed Football field goals or an egg post on Instagram that gets almost 50 million “likes” in 24 hours.

For many, managing an Instagram account can be challenging and frustrating when you’re spending more time managing the day-to-day operations of your trade or your results from your posts have been underwhelming.

 

 

  1. Get Help

 

 

If you’re running a small business it can be almost impossible to manage social media accounts to gain awareness and grow your business, all at the same time. But Instagram is not something to be ignored. It’s not only a bunch of Millenials posting selfies, food pictures and sharing “memes” because in June 2018 Instagram hit 1 billion active monthly users.

                                                                       https://techcrunch.com/2018/06/20/instagram-1-billion-users/

 

That number is proof that It’s worth to add a Social Media Manager to your payroll. Even if the manager is a part-time student, with little experience, they can help you take a lot off the plate by posting quality photos and videos, attracting new followers and building on a brand identity.

 

  1. Geo-tagging and Hashtagging

 

Now that you’ve got your new manager, it doesn’t mean you’re totally off the hook. Lot’s of small business owners will say that the service or business they provide is irrelevant for Instagram because they’re local or it might not appeal to young consumers.

 

  • Ages 13–17: 57 million (7%)
  • Ages 18–24: 270 million (32%)
  • Ages 25–34: 270 million (32%)
  • Ages 35–44: 131 million (15%)
  • Ages 45–54: 68 million (8%)
  • Ages 55–64: 30 million (3%)
  • Ages 65+: 18.3 million (2%)
(https://blog.hootsuite.com/instagram-demographics/)

 

Even if your target market is in the older range, those numbers are still in the millions. Now, that’s just a perspective. So how does this help your local business? Geo-tagging lets customers know where you’re located. It lets them know you’re near and brings your business awareness. If Im looking for a printing service or contractor, seeing your work online and an “identity” will help me compare, discover and make a more confident decision.

                                                                                                                                                           https://blog.wishpond.com/post/115675437680/how-to-use-hashtags-and-geotags

 

Hashtags also bring more awareness to your business. If im looking for a packaging service, I can search for a business on Instagram it can help me find your business, especially with the combination of geotags and hashtags.. Usually, hashtags should go after a good caption and while Instagram allows up to 30, I personally recommend putting 5 relevant tags about your post or business.

 

  1. Engagement

 

Just as if you would engage with your customers in person, face to face. It’s just as important to do so on your profile. Engage by being active in the comment section, collaborate with other relevant business where both can benefit off of eachother. You can also create community events and drive awareness. Ask if you can follow your customers on Instagram and send a Happy Birthday card, or tell them to enjoy their new Cat. Whatever life event they share, make sure you’re there for the support. Word of mouth is still very much alive and well and in today’s world, it’s amplified on Instagram. The little things count and go a very long way. Don’t focus on how much “followers” your account has, it’s more important that whatever number it is, those followers are or can turn into real customers.

 

Need funding to expand your social media presence? Apply here!

Written By: Avi Milman

Purchase Order Financing: Funding without the Hassle

We at Got Capital are highly determined to make business financing simple and easy for our clients. We are passionate about making sure our customers have a positive and streamline funding experience. We don’t only offer MCA funding, we also offer Purchase Order Financing.

What is P.O financing you ask?

It is a funding option for business owners that need cash to fill single or multiple customer orders. Cash flow problems do exist for many business owners- and Got Capital is here to help.  There will be times when there is not enough money to cover expenses in a business. For an example, an owner of a kitchen appliance store may get more demand for a heavy duty oven they have…than supply. If they turn down orders- they can lose revenue, quickly.  It can also tarnish reputation and restaurateurs may go elsewhere for their kitchen needs. To avoid this scenario, it is imperative that businesses find the capital that they need. A Purchase order financing can be a great alternative to traditional funding.

How does it work?

It involves one company paying the supplier of another company, for goods that have been ordered to fulfill a job for a customer. Many Purchase order financing services have way too many requirements to secure their funding. These requirements can also prohibit and limit capital access to new businesses. At Got Capital, we put our financial expertise to work. We offer a solution without the hassle and fewer requirements. We are determined to make sure you never have to stop gaining revenue and your business stays afloat, always….and that is the Got Capital way.

8 Invoicing Mistakes

Invoicing sucks. It can be highly tedious with tons of numbers and something that people may leave to the last minute. But it is absolutely crucial if you want your business to maintain an organized and positive cash flow.  In order to get compensated for your goods or services on time, there are some mistakes you have to avoid! Capitalize on opportunities and don’t let them slide by!

1) Procrastination

It’s not college anymore. You can’t leave things to the last minute. The best time to send out an invoice is immediately following the completion of a sale.

2) Having unclear terms

When writing out an invoice, avoid using vague language. If you want the client to pay the invoice in a timely manner- make sure that you include a clear state item description, prices, and quantities.

3) Not itemizing services

Some clients require a detailed and itemize service breakdown. For many customers, it can be a matter of procedure and helps tracking, recording and reporting expenses.

4) Poor formatting or editing

 Always make sure that your invoice looks super tidy as the button down white shirt you are wearing. Spelling errors, incorrect dollar amounts, and generic formatting can make your business look unprofessional. It can also prevent you from receiving correct payments on time. Always make sure you double check and proofread your invoices- so you can catch them before they are sent out.

5) Not understanding invoice factoring

Invoice factoring is a popular option when you need funding fast. In a nutshell, it is an option that you can sell unpaid invoices to an invoice factoring company for cash–*hint* GOT CAPITAL OFFERS THIS*

6) Not branding your invoices

Having a company logo on your invoice can verify it to be an established brand and differentiates you from other invoices that your clients are receiving. You can also take advantage of this to vamp up your branding opportunity and awareness!

7) Not taking your invoice as a marketing opportunity

Invoices can be a great medium for your company and your customer- to know more about your products.  You can use the invoice as a marketing tool- this can have a positive effect and increase your revenue! When you send out an invoice, try including marketing materials such as newsletters or promotional flyers.

 

8) Sending an invoice with hidden charges

This is a massive no-no. Transparency is key to any business-to-business relationship. When sending an invoice, each charge should match the terms and expectations as agreed upon by both parties.

Bottom-line: Avoid these common mistakes businesses make when they send out invoices- as a business owner you should always strive for a streamlined transaction process. Cash flow is critical to managing day-to-day operations and is key to maintain a stable organizational structure.

 

What mistakes do you think are also important to address?

Please comment below – we would love to hear what the rest of the business community is saying!

What is Invoice Financing?

Did you know as a business owner you have the ability to turn your unpaid customer invoices into fast cash?

With invoice factoring, …its is ‘Mission Possible’.

Invoice Financing is also known as Factor Financing- it a great and easy solution for businesses offering their clients specific payment terms. Offering easy terms to your clients is a viable asset for businesses.

Invoice financing is fast. It can provide immediate working capital to help cover a funding gap caused by slow payments from customers. Also, it improves cash flow in a small business. You can keep loyal customers on longer payment terms but still improved your cash flow- helping your business grow. Got Capital provides an easy and quick capital to companies that might not be able to get it from other sources- like a traditional bank.  A big benefit of invoice financing is that no collateral is required- no hassle…the Got Capital way.

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