There are several ways in which the director of marketing or CMO of a small to midsize business, can run an effective marketing campaign while maintaining a tight budget. Here’s a few strategies and guidelines that will make it possible for you to get market your business without having to push your marketing budget beyond its limits.
1. Borrow Wisely
When funds run short, many entrepreneurs turn to traditional lenders, yet this isn’t always the right move. According to Michael Cullinan, Director of Rapid Finance “numerous lenders remain hesitant to provide funds without collateral, regardless of the company’s credit standing.” Consider alternative sources of funding, including crowd sourcing and solution-based finance providers.
When you choose a solution-based finance provider, you retain more control over the process, such as when repayments must be made. In addition, lenders of this type work with individuals with bad credit or no credit. By obtaining a loan of this type, you can quickly receive the funds needed, repay them in a timely manner, build your credit score, and more.