How to use your Stimulus Checks to Market your Business
It’s no surprise how COVID-19 hit businesses everywhere in America. There are plenty of studies out there that have shown the impact that the virus had and is having on both small and large businesses. Thankfully, three stimulus checks have been granted to the American people throughout these hard times. In March, President Biden signed the newest stimulus package, giving individuals up to $1,400. So, what advantages can you take from this stimulus package, and how can you use the amount to help market your business? In this post, we’ll give you some tips on how best to use the stimulus check for your business.
Create Your Goals
The first thing to want to know is what you should use your stimulus check on. But this will wholly depend on what you need for your business right now. To realize how your check will help your marketing, you will first have to ask yourself what was impacted. This question is important and once you know exactly what you lost, you’ll be able to write new marketing strategies and add to your goals. If you know how the pandemic impacted your business, but don’t know exactly what you need to do right now for marketing, don’t worry. Here are a couple of tips to get you started.
Use PPP Loans to Keep and Hire New Staff
One thing that helped businesses during the last stimulus was the ability to receive a Paycheck Protection Program (PPP) loan. This is a loan to help employers keep their employees on their payroll. With this new stimulus package, small businesses can apply for the loan even if they didn’t get it the last time. Another significant thing about this change is that businesses that received this loan in the past, can get another one. Use the amount from this loan first for keeping employees and hiring new ones, which will help once you’re ready to get your business back on track.
Consider Applying For the EIDL Loan
There is also the Economic Injury Disaster Loan for smaller businesses. This loan differs from the PPP loan. EIDL loans will be useful to you if you have a business that doesn’t have employees to pay and if you’re in a low-income area. The loan is in a significant amount of $10,000, so if you didn’t get the full sum the last time, you can reapply and be offered the rest this time around. I would highly recommend you apply for this loan. Doing so will help significantly with your budget for marketing your business and getting back what was lost during the pandemic.
Redesign Your Website and Logo
Do you have a website that’s out of date? Because of COVID-19, you may have changed the way your business operates, or you may have noticed that many of the products, services, or general information on the site don’t apply anymore. Your stimulus check will help you with this problem. Taking the time to update your pages, SEO, images, and other UX aspects of the site will help Google crawl recognize your business and put it higher on the search results.
Invest in Ads
Ads are one of the most important aspects of marketing, and with the impact the pandemic had on businesses, getting your brand out there can help your company grow and bring on new clients and customers. There are a few advertising options for you. First, there’s Google Ad which allows you to have full control over the amount of money you want to spend for targeted keywords. There is also Facebook Ads, which have less of a learning curve while also being easy on your wallet. Depending on where your customers hang out, you can choose either or both options and watch your click rates grow.
Hire a Marketing Team
Successfully doing these other options on your own can be a bit time-consuming. If you have stimulus money and loans for your business, but don’t have the time or energy to do all these things on your own, then you can hire a marketing team that will do all the heavy lifting for you. With a marketing team behind you, they can identify gaps and opportunities for your business. Experts will make sure that you’re spending your stimulus money on what’s best for your marketing goals without wasting a dollar and your time.
The pandemic had an enormous impact on almost everyone’s business. With this latest stimulus care package, the light at the end of the tunnel is brighter. These tips are meant to be a help to you as more and more businesses face openings everywhere. If you need more assistance with your marketing, you can use Next Level 24/7 marketing to help you plan and execute a marketing strategy that’s best for what your business needs right now.