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We’re outrageously happy and equally proud to announce that Wix just went public and is officially trading on NASDAQ! This is a huge milestone in Wix’s history and in our development from a fledgling start-up into a company servicing over 40 million registered users worldwide. Following today’s events we feel more committed than ever to keep pursuing our vision: giving people the freedom to create and manage a dynamic online presence that is exactly the way they imagined it. In 2006, we started our endeavors by simplifying the web creation process. We have now grown Wix into a comprehensive solution that lets anyone run their entire business online. Let us take you through some of the happiest moments we experienced in NY today – This is our day at NASDAQ,  in photos: VP at NASDAQ OMX, David Wicks, delivering an official welcome message to Wix and offering the floor to Wix’s CEO, Avishai Abrahami Final note for the day: We’d like to take this opportunity to thank each and every one of our users. We couldn’t have made it to this happy day if it wasn’t for your relentless support. Thanks for believing in us – we’ll continue to work hard to earn your vote of confidence, every day. **Stay tuned for more exciting updates on our Facebook page to see how Wix users played a big part on our NASDAQ festivities! You can also learn more with these 10 Wix essential tutorials. Make a website your way.

After you make a website, you might wonder what's the best way to drive traffic to it. You can explore many different avenues—for example, search engine optimization (SEO) and social media—but pay-per-click (PPC) is one of the quickest ways to get more users to your website. In this article, we’ll go over the essentials of PPC advertising and how it works, from the best platforms to use and how to conduct keyword research, to optimizing your campaigns. What is PPC? PPC is an online advertising model where marketers pay each time someone clicks on their ads via a search engine. Unlike organic methods of driving traffic to a site or webpage such as SEO, PPC focuses on the paid opportunities to get more clicks. When users type in a search engine query, the search engine results page (SERP) presents them with a list of links. The links at the top of the list are usually PPC ads, and if you click on one of them, the advertiser pays a fee for that click. Advertisers use pay-per-click ads to gather more leads, increase sales or simply increase awareness about their brand's product or services. Since the goal of PPC ads varies, the ads themselves can either target a set audience or budget or rank based on predetermined keywords. How does PPC advertising work? Since tons of companies and brands vie for clicks from the same users, PPC ads aren't as straightforward as clicking and paying. There's a method to it. Each time a user looks up a query on a search engine such as Google, an auction is triggered for advertisers like you to bid on the ad placement. This auction is based on set keywords and budget. The ad that wins the auction appears on the user's search engine results page (SERP), and if the user clicks on it, only then does the advertiser pay their bid on it. This whole process is done instantly on every search, so you need to have campaigns ready to enter into ad auctions—this includes creating the ad copy and setting a budget for the maximum you're willing to spend on each click. In the process, you’ll also choose relevant keywords which help determine how high the ad is placed. Running PPC ads isn't only about creating eye-catching ads that users will click on. You'll also need to ensure that when they land on the desired page, they stay there and act. SEO vs PPC: What’s the difference? While both SEO and PPC advertising use similar tools (e.g. keywords) to drive traffic, they’re not the same. As we mentioned earlier, SEO takes a free approach to driving each click, such as optimizing content so that it comes up naturally in a SERP. Pay-per-click, by contrast, relies on paid clicks to display ads to users. The cost isn’t the only difference between SEO and PPC. The amount of time it takes for the advertising method to kick in differs drastically. Since SEO is an organic strategy, you’ll need to build it up over time and it can take months to see traffic come to your site. With PPC, results are based on how much you’re willing to pay, so you’ll see them a lot quicker. That being said, advertisers shouldn’t choose between paid and organic ads, but rather apply both to their marketing strategy. If you’ve already done the keyword research for your SEO strategy, you can apply them to your PPC campaign as well and increase your chance of ranking on the SERP. On average, SEO advertising converts at a rate of 2.4% compared to PPC at 1.3%, so by using both methods, you can increase your conversion rate even further. Best PPC platforms Several PPC platforms exist, but for the most part, when we talk about PPC, we're referring to either Google Ads or Microsoft Advertising (Bing). Google Ads Advertising on Google needs no introduction, it's the platform of choice for advertisers who want to present their ads to the broadest possible audience. However, since 86.6% of people turn to Google to search for answers to their questions and to run their ads, it's highly competitive and Google ads can cost more than on other platforms. Microsoft Advertising While "Let me Bing that" doesn't have quite the same ring to it, Microsoft holds nearly a 3% share of the search engine market. The audience here isn't as wide, but that also means you'll spend less on clicks. Many advertisers turn to Microsoft Advertising as a secondary platform for their PPC campaign to cover more ground. Facebook Ads While we don’t traditionally think of the social network as a search engine, Facebook Ads allow you to run paid campaigns similarly to how you would on Google or Bing. Like Google Ads, you can also target a specific audience with Facebook, and the ads natively appear in users’ feeds. Since Facebook also owns Instagram, you can use this ad platform to run your paid campaigns on both social networks. Other PPC platforms Aside from the above three ad platforms above, you might want to consider bidding on platforms like: AdRoll RevContent Bidvertiser Amazon Ads Adblade BuySellAds Best practices for running PPC campaigns Below you’ll find some important tips and methods to keep in mind setting up a PPC campaign of your own. Conduct keyword research Arguably the most important part of creating your first PPC campaign is the keyword research. To start, focus first on specific terms that are relevant to your niche. Then, slowly start expanding to include less common terms that users still might search for. Useful tools like Google Keywords Planner, Ahrefs and SEMRush can help you save time at this stage. Be sure to look for short-tail, long-tail and relevant keywords. You want to end up with an expansive list of relevant keywords to target in your campaign. It's common to have a list of hundreds to work with. Research negative keywords as well, or those you don't want to rank for. Excluding negative keywords to your PPC campaign ensures that you don't waste your ad budget on clicks that won't bring you users with high intent. For example, if you own a small business that sells women's shoes, a negative keyword might be "men's shoes," since you don't want to pay for unnecessary clicks. Similarly, create a list of branded keywords that users might search for. Branded keywords are search terms that include your brand's name, a competitor's brand name or something similar (including common misspellings). With a brand like Nike, for example, branded keywords would include "Nike sneakers," "where to buy Nike," or even "Nik shoes." Set the right budget To begin the ad auction process, set a budget for each keyword. Your budget can determine whether or not your ad has a good chance of winning an auction, so research keywords thoroughly to make sure you're paying for those that will most likely garner clicks. When you decide which keywords you want to focus on, you'll set a budget for each keyword or ad group. This will be the maximum cost-per-click (CPC) amount of each bid. So, for example, just because you set your budget at $1.00 for a specific keyword doesn't mean you'll pay that for every click. You might pay $0.50 most of the time, but $1.00 is the most you'll pay. Create quality ads When running a PPC campaign, target the right keywords and ensure your content is relevant to the query. Aside from your maximum CPC, other factors determining whether your ad will show up on a SERP include quality score and ad rank. Your ad's quality score depends on how useful users have found your ad. The score itself is determined by a few different metrics, including the expected click-through-rate (CTR) of an ad, its relevance to the user's original search query and the quality of the landing page. The higher your quality score is, the less you're likely to pay per click. Similarly, an ad with a low-quality score can expect to pay more. Search engines often penalize low-quality advertisers, so if you have a low score, your ads may not even show up on a SERP. How to target your audience with PPC advertising With the right research and strategy, pay-per-click advertising can help you get target audiences to see your campaigns. Keywords aren't the only way to target your audience in PPC campaigns. You can also target other elements to further define your campaign, like: Device Geolocation Day and time Demographics Previous online activity By targeting your ads to be highly specific, you have a higher chance of someone seeing your ad at exactly the right time. For example, if you know your audience shops online from their phones in the evenings, and that they're between the ages of 25-45, you can set certain ad parameters to target those customers exactly. You can also use this strategy when it comes to retargeted ads. This means that if a customer clicks on your paid ad but doesn't make a purchase, you can show them different ad messaging or use another type of advertising, like display ads, to grab their attention. How to manage and optimize your PPC campaigns Running PPC campaigns as a "set it and forget it" model won't work; you need to regularly monitor and update your campaign to get the results you want. When setting your goals, choose key performance indicators (KPIs) to measure if your campaign yields desired results. To measure your ad campaign's success, decide on your goals in advance. Whether it's generating brand awareness, promoting a new product, or driving more website traffic—the metrics you use to gauge your campaign's success will differ. If your campaign doesn't perform as intended, try tweaking the keywords, reassessing your CPC budget, targeting different users or creating new ad groups. Optimizing your campaign involves trial and error to see what keywords users engage with, what time of the week or day they're most active, what ads cost you the most, and which ones bring you the most traffic. Overall, any advertiser's goal with a PPC campaign is to generate the best results with the lowest cost per click. Optimize your campaign with the following methods: Ensure your ad groups are organized so that you can see if they focus enough on the right keywords. You can also consider if you're using the right type of ad - there are so many, from native advertising to others. Remember to use clear UTM links to properly track your campaigns. Use ad extensions to display products, contact details or anything else that engages audiences. Constantly reassess your landing page to make sure it’s relevant, loads fast and provides an optimal user experience. Run A/B tests using different landing pages for the same ad or different ad copy for the same landing page. Always search for new keywords or variations to use that might have lower competition. Regularly research and add negative keywords to avoid wasting ad budget. Update your match types so that you can include more broad keywords that might have a lower CPC than an exact keyword.

Consumers are inundated with banners and popups on a daily basis, making it evermore important for brands to find more strategic ways to reach their audience. Native advertising is a dynamic and effective way for brands to do this, providing meaningful sponsored content that does more than just sell. From sponsored blog posts and branded Instagram filters, to search engine advertising—native ads help drive traffic when you create a website, increase sales and most importantly—build trusting relationships with new and existing audiences. And with an expected increase of 372% on native ad spend between 2020 to 2025, this is one marketing strategy you don’t want to miss. In this article, we’re diving deep into what native advertising is, what the benefits are as well as the different types to be aware of. What is native advertising? Native advertising is a type of online advertising in which sponsored content blends in with the content surrounding it. The main benefit of this form of advertising is that it’s less intrusive than other types of advertising, such as pop-ups or banner ads. Visitors are more likely to view native ads as trustworthy because they’re not explicitly promotional and/or match the look and feel of the page around it. Native ads ultimately aim to create a mutually beneficial experience that pleases all parties involved: your business gets to promote its products to a relevant audience, while users get to enjoy the content they’re consuming with minimal disruption. It’s a win-win. Why use native advertising? When done right, native ads can be a highly effective form of online advertising. Because they appear like a natural part of the content, they convey value rather than distracting users from the primary reason they decided to visit a website or open an app. In fact, audiences find native ads 62% easier to understand than display ads, and 31% easier to understand than social ads. This can result in 20% to 60% higher engagement and three times the retention compared to banner ads. However, there are some risks worth mentioning. Some claim that these types of ads can be deceptive to consumers if they’re not properly labeled. For this reason, you’ll need to be careful when integrating native ads into your content to ensure that you remain transparent, plus compliant with Federal Trade Commission (FTC) guidelines. 7 types of native advertising There are several types native ads your brand can utilize as part of your overall marketing strategy. Here are the primary forms you should be aware of: 01. Paid search ads Paid search ads are a form of search engine marketing that seamlessly match the platform they’re placed on. For example, when you search for something on Google, the first few results you’re shown are ads that have been paid for by the advertiser. However, they appear identical to the rest of the search results, with the addition of the word “Ad” placed next to each header. 02. Display ads with native elements This type of advertising combines elements of both native and display ads. While display ads are unrelated graphic advertisements on a page consisting of banners, video, text, images or audio, display ads with native elements contain content that ties them to the rest of the page. They’re usually placed in strategic positions, such as on a webpage’s header or sidebar. 03. In-feed units (aka “sponsored social media posts”) The simplest way to understand what in-feed units are is to look at your Facebook or Instagram feed. You’ve probably seen hundreds of ads that appear in your feed, but they don’t look like typical ads. Instead, they appear as the posts you’re used to seeing from the friends and brands you follow on the platform. Like search ads, these native ads will also likely mention that they’re paid. On Facebook, for example, you’ll see the word “Sponsored” under the title, indicating the company has paid the social media platform to show it to you. On other platforms, you might see similar ads in the middle of organic content, such as an article that links to a third-party website. These will also be noted as sponsored content to avoid misleading a publisher’s audience. However, the ad will be relevant to the rest of the content on the page, making it appear more natural. 04. Sponsored product listings Similar to paid search ads, sponsored listings are the ads you see on an eCommerce marketplace when you search for an item and see a list of matching products. Amazon is one of the online retailers that does this best. Sponsored listings look the same as other results on the list—the only difference is that they’re usually displayed at the top of the page and are accompanied by the word “sponsored.” Because sponsored listings are still relevant to a user’s search query, they usually have good results in terms of conversions and clicks. 05. Branded content Branded content is when a business and a publisher agree to create content to promote a specific brand or product. This can take on many forms, but it’s most often seen in publications like blogs or news sites when an article showcases one brand exclusively. The benefits here are twofold: First, readers are exposed to the brand’s message while scrolling through the publication’s regular content. Secondly, you'll get to capitalize on a new audience of readers who trust the publication you collaborate with, and the articles they publish. 06. Content recommendations Usually found at the end of an article or blog post, content recommendations show other articles that relate to a user’s interests or browsing history. This section may be titled “You Might Also Like…” or “What We Recommend Reading Next.” To a reader, any ads within this section may seem like simple recommendations for similar articles, but for advertisers, it’s a powerful tool to redirect traffic from heavily-visited publishers back to their own pages. Content recommendations usually have enticing images and headlines, encouraging readers to click through. This method of native advertising has been shown to result in up to 53% more page views than clicks coming from search engines. Moreover, providing recommendations is also a cost-effective way to market content on a website, with each click from a publisher’s platform usually costing only a few cents. 07. Custom in-app ads Custom ads can take on almost any form and are reflective of many of the innovative methods of personalization we see used today in digital marketing. A custom native ad can be anything from an Instagram filter created by a brand or even an ad that runs in music playlists. For example, if you create a running playlist on Spotify and then get ads for running shoes while listening to it, this would be considered a custom native ad since it matches the content you’re interested in. You can find more advertisement examples in our guide.

Some brands just have the “it” factor. Apple’s got it. Coca-Cola’s got it. So do Nike, Harley Davidson and IKEA. Each of these brands are each distinctive, and their reputations precede them. In short, they’ve got great brand equity. But what is brand equity, really? And how do you create it? In this blog, we’ll help define this slippery concept and provide tips for strengthening your business’s brand equity. Looking to grow your brand online? Create a website with Wix and put your best foot forward. What is brand equity? Brand equity is a marketing term that defines a brand’s value to its customers. It measures how much influence your branding has over its customers or in an industry. In other words, if your brand has strong (or “positive”) equity, it is memorable, easily recognizable and appreciated by consumers. “When we look at the most successful brands on Wix, we see that the more they actively put their brand in front of customers, the greater their long-term influence,” says Yaya Aaronsohn, head of brand maker at Wix. “By using various promotional methods and tools—such as Wix’s tools for email marketing, social engagement and others—they’re able to keep their brand top of mind. This type of brand awareness (check out our guide on how to increase brand awareness), coupled with good customer experiences, ultimately creates brand equity.” What makes brand equity so important? Aside from improving your reputation, strong brand equity increases your sales, improves ROI and builds your customer base. Here are some of the specific benefits that come as a result of positive brand equity: You can charge more with positive brand equity. Think of high-end fashion designers who are able to sell items like clothes, shoes or purses for a high markup compared to average retail brands. Customers will seek out your brand instead of competitors. This will help your company increase its market share, as more and more customers are set on purchasing items specifically from your brand. Think of Apple, for example. If you’ve gotten used to an iPhone and are a loyal Apple client, when the time comes to purchase a new phone, you’re most likely to return to Apple. Positive brand equity saves you money on advertising. Once your brand is well-known and carries a good reputation, you might not need to spend as much money on ads, since many clients are already tuned-in and engaged with your brand. How to measure brand equity: 3 essential steps While you’re going through the process of building up your brand equity, it’s important to measure your success along the way to get a good overall view of what’s working and what’s not. But tracking brand equity can be tricky. After all, it’s a concept rather than a concrete product or asset. It’s based on a feeling that a brand inspires. So, while there are multiple metrics that can express the effects of brand equity on your business’ performance, there’s no single metric to use. Instead, use a combination of measurement techniques to build an accurate picture of how you’re doing. Gather your brand data sources Choose a multi-dimensional measurement strategy Monitor, adjust, repeat 01. Gather your brand data sources As you embark on the quest to capture a picture of your brand equity, two primary types of information are at your disposal: Financial/Operational data: “O data” (“O” for “operational”) involves traditional performance metrics that relate to tangible activities, such as revenue generation, repeat purchases or even employee retention. O data depicts the ways brand equity manifests itself in concrete results. Emotional data: Emotional data (a.k.a. “X data,” with the “X” standing for “experience”) are qualitative measurements that attempt to capture consumers’ emotions and beliefs about your brand. X data can be collected through social listening, surveys, focus groups and more. Note: You may be less familiar with X data, but it’s an increasingly-critical piece of the brand equity puzzle. Consumers are willing to pay a premium for superior customer experiences, according to PwC, so measuring the overall effect of brand interactions throughout the customer lifecycle can reveal new insights about preferences and loyalty. Once you’ve identified the data you already have and any gaps in visibility into customer behavior, you could potentially institute new processes to develop a more holistic picture. For example, you may need to establish new ways to collect user feedback in order to build your X data, or you may need to adjust O data reporting to ensure consistency over time. Shameless plug: you can also use Wix Analytics to monitor user behavior on your site, investigating everything from top traffic sources, purchases and most-viewed content. 02. Choose a multi-dimensional measurement strategy As you collect and sift through data, aim for a balance between economic and experiential information. Select an array of metrics from both categories of data to build a comprehensive and composite picture of brand equity. Specifically: Balance historic data with immediate sentiment. While O data can reveal a trend line, understanding the customer motivation behind the numbers reveals a truer picture. For example, rising average order values may seem like a positive sign, but if those figures are paired with decreasing customer satisfaction, then customers may actually be disgruntled over higher prices or expensive accessories. Identify enduring signals amidst the noise. Experimenting with new sources of X data can yield a lot of brand chatter, including momentary spikes in popularity or attention. Marrying these inputs with the O data that quantifies business impact helps determine what’s meaningful. Going viral on TikTok may signal growing engagement from Gen Z customers—or, conversely, show a well-executed hashtag challenge that results in zero sales. 03. Monitor, adjust, repeat Once you’ve assembled the right selection of brand equity metrics for your brand, track them regularly to build a picture of performance over time. While you may want to make adjustments, especially at first—consistent methods and timing is crucial for building an accurate picture of brand health. Once you’ve established a dashboard and feel confident with the results, consider adding or integrating new data points to round out your understanding of brand equity. 5 types of brand equity metrics (and tips for tracking them) Brand equity has five core dimensions to measure, each of which you can quantify in a variety of ways. However, don’t be afraid to skip the data points that aren’t relevant or that you can’t reliably track. It’s better to hone in on a few meaningful metrics than to face a deluge of incomprehensible raw data. 01. Brand awareness metrics First, you’ll want to check if you’ve succeeded in creating brand awareness. In other words, how do you know if you’re top-of-mind with the right audience? There are a few ways you can do this, and your method might depend on the products or services you offer. To measure brand awareness, you’ll want to look at metrics like: Traffic to your website or to stores: Track the number of people who interact directly with your brand and establish a baseline count to monitor how certain campaigns impact traffic. Search volume for terms related to your business: Is your brand recognition strong enough that consumers search for you by name, or are they looking for generic categories of products or services you offer? Social listening: Monitor mentions of your brand as well as relevant hashtags, competitor content and industry topics. Media or news coverage: Setting up a simple and free Google Alert can surface mentions of your brand in traditional news articles and blogs. Sentiment analysis: Sentiment analysis extracts meaning from otherwise generic text—and increasingly, AI is able to be “trained” to recognize the difference between “customer service is killing me” and “customer service is killing it.” Voice recognition and transcription tools can also help you apply sentiment analysis to customer service calls and video reviews. Customer reviews: Track both the quality and quantity of reviews; even if you don’t earn five stars on every product, a customer’s willingness to return to your website to leave a review can show that they care enough to share their opinion. Customer satisfaction: Survey consumers about their interactions with customer service, tech support and store personnel and seek feedback about processes, such as product customization and returns. Surveys: Request survey feedback from customers, plus engage consumers who don’t currently buy from you to understand their priorities and perceptions of brands within your category. Internal employee surveys can also be invaluable tools to gauge whether staff members who represent your brand are aligned with its mission. Net Promoter Score (NPS): NPS poses a simple question: would customers recommend your business to others? Their response speaks volumes about the strength of your brand. Gain further insights into the reasoning behind the scores with follow-up surveys and customer panels. 02. Financial metrics You’re probably the most curious about how improving your brand equity has impacted your profits. While a simple check of your bank account can tell you how the business is faring at any given moment, the ability to produce solid cumulative results indicates that your brand is building strength over time. There are a few ways you can measure your success in this area: Profitability: Generating revenue is one thing, but the extent to which you exceed your costs can signify that your brand has value in the marketplace for which customers are willing to pay a premium. Rate of revenue growth: Is your company growing consistently? Income rising at a higher rate each year indicates momentum and positive brand equity. Customer lifetime value (CLV): This is the average total spent per customer over the course of their relationship with your brand. If customers return more frequently or spend increasing amounts with you over time, then your brand equity strategy is likely working. Customer acquisition costs: How much you spend to find and convert new buyers can be an indicator of brand equity. If your business has a strong word-of-mouth reputation, you likely need less advertising to lure first-time customers. Customer retention costs: Investments in loyalty and customer service initiatives should be consistent over time. Sudden, significant growth in retention costs is a sign of flagging brand equity. If customers need huge incentives to keep coming back, reexamine their expectations and your follow-through. Channel partner engagement: If you work with dealers or resellers, their success rate is an indicator of brand equity. Willingness to participate in promotions and incentive programs signals a belief that your brand is an asset to their business. 03. Brand evaluation metrics What price should you assign the nebulous concept of "brand value"? Evaluation metrics help you do just that, and range from cost-based metrics (that reflect how much you invest into creating your brand) to market-based metrics (that show the value of your brand in the marketplace). There are also Income-based metrics, which reflect the earning power of your brand as expressed through potential income connected directly to your brand identity. You can cover each of these by tracking: Historical cost (cost-based): Tally how much you’ve spent on advertising, promotions, licensing, and other start-up costs. Replacement cost (cost-based): This is an estimate of how much you’d need to spend to launch your brand today in the current marketplace to achieve the same results you’ve already built. Conversion cost (cost-based): This calculates how much you need to spend to create enough brand awareness to generate your current level of sales. Comparable metrics (market-based): These metrics reference acquisitions and sales of other companies in the sector to indicate the potential value of your brand. Equity valuation (market-based): This captures the revenue-building and cost-saving capabilities of your brand. Advertising ROI indicates earning power, while the cost savings are based on your brand’s economies of scale and existing audience. The more you’re able to do with less investment, the stronger your brand equity. Residual metrics (market-based): Residual metrics reflect earnings that continue to accrue once the cost of your assets has already been accounted for. A positive balance reflects strong brand equity. Royalty relief (income-based): This is the amount your company would pay in trademark fees to use the brand if you didn’t own it. Excess earnings (income-based): This reflects the income earned over and above the costs of working capital and physical assets. The remainder indicates the value of intangible assets such as your brand. 04. Output Metrics Output metrics measure how marketing activities perform and, by extension, whether brand messaging is resonating with your audience. By tracking engagement with campaigns and promotions, you gain a deeper understanding of how customers and followers perceive your brand. Here are output metrics that you can use to figure out if your marketing is on point: Click-through-rate: When consumers click on ads or messaging, they’re communicating which brand attributes resonate. Heat-mapping on your website: Track which zones of web pages attract the most attention to understand which elements are most engaging. Video engagement: Analyzing watch time indicates whether viewers are engaging with your content, or just clicking and moving on. Social media engagement: Go beyond tracking likes and follows to get a deeper understanding of which activities resonate. Check out comments, reposts and creation of hashtagged content. Downloads: Consumers who download your app intend to stay in touch with your brand. Growth in app usage is a signal of growing brand awareness and strengthening brand equity. Email marketing engagement: Signups can help you gauge intent to create an ongoing connection with your brand, while views, clicks and conversions indicate whether subscribers find campaigns relevant. Your churn rate sends another important signal; are consumers unsubscribing after receiving a discount or other reward for signing up, or do they truly want to engage with your brand? Loyalty program participation: How often are your customers taking advantage of your loyalty points and services? Participation frequency can reflect overall engagement with your brand. Support of brand causes: Engagement with social or environmental campaigns your brand supports indicates whether your audience aligns with your stances. Trusting your brand’s guidance on civic participation signals you’ve built a relationship that goes beyond business. New product revenue: Track performance of new products carefully to understand the impact of your brand equity on the bottom line. Pre-orders and waiting list signups from your existing audience indicate trust that your brand will deliver on promises. 05. Competitive Metrics Competitive metrics help identify areas in which you’re outperforming other companies in your category as well as gaps in competitor offerings that represent opportunities for your brand. You can track what’s working well in your own campaigns while monitoring competitors’ activities to understand what resonates with your audience. Here are some metrics that’ll help you figure out how you measure up: Market share: Understand the total potential market for your brand and identify which competitors are vying to capture the same audience. Use tools such as customer surveys to understand which other brands are on buyers’ minds, compare sales figures (if accessible) and track media coverage or online buzz. Marketing activities: Depending on what information is publicly available, you may be able to compare return on investment on marketing channels. Use tools to track trending search terms and hashtag campaigns. Price premium: If you successfully offer items at higher prices compared with other companies in the category, that premium can be an indicator of strong brand equity. So, how can you build brand equity? Rome wasn’t built in a day, and your brand equity won’t grow instantly either. Building brand equity is a process that requires time and consistency. Start with the basics of building your brand from scratch and grow from there through marketing efforts and investments in the customer experience. Whether you’re just starting to build brand equity or want to strengthen your position, focus on these priorities. Embody an authentic mission Customers will be more loyal to a company that has a reason for existing beyond selling products. By positioning your brand as a solution to a problem or challenge, you elevate your purpose and forge a connection with customers who can identify with the need you address. “One of my favorite examples of this is TOMS,” says Aaronsohn. “TOMS wasn’t simply built to sell shoes, but to promote a good cause. Their ‘One for One’ model demonstrates that the company is ready to put their money where their mouth is—and to date, they’ve successfully donated more than 100 million pairs of shoes with the help of their customers. TOMS’ mission is just as well known as their products.” These days, customers increasingly expect brands to take stands; 63% say they buy or recommend brands based on their values, according to Edelman. However, for a stance to be credible, it needs to align with your true beliefs, and be reflected in both your products and company initiatives. Patagonia is another well-known leader in cause marketing. The company’s products are geared towards surfers, climbers and people who are environmentally conscious. In alignment with its audience and its founding ethos, Patagonia has boldly fought to protect a national monument, promoted the reuse and refurbishment of their products and pledged all of its profits to fighting climate change. Patagonia’s brand identity inspires loyalty from fully 73% of customers, Statista calculated. Create cohesive messaging Any ad or piece of content that your brand puts out are opportunities to cement your brand image. For example, if your mission is to save shoppers money, then discount-focused content is appropriate (think of Walmart’s catchy slogan “Save Money. Live Better.”) Your voice and aesthetic should likewise align with your core purpose consistently across channels to reinforce your singular offering. Periodically check execution with a top-to-bottom brand audit. Is there continuity from your internal brand values to external brand messaging? Take a holistic view that includes: Branded advertising campaigns: Create cohesive ads with an evergreen message that helps create a compelling brand story. Rather than focus on specific products or sales events, use these branded campaigns to showcase the central storyline and distinctive voice that mark your brand identity. Social media: While consumers expect social media to be more casual and authentic than a slick branded ad, you should still focus on your core messaging and employ your unique brand voice. Offline experiences: Store signage and shelf talkers should reflect branding as much as your online presence does. Packaging for online orders and printed brochures should all reflect your brand. Offer a positive customer experience The customer experience is central to perception of your brand, so to build brand equity, deliver high-quality, consistent interactions across channels. Think beyond the customer service department to include: Ease of use when it comes to fulfillment processes such as store pickup or initiating a product return Accessible and honest customer reviews Responsiveness on social media, which 63% of consumers expect brands to offer as a customer service channel, according to Microsoft Personalization in the form of consultative sales support, such as personal shopping services The customer experience is so important that leading companies have made it their central mission. Zappos.com famously claims to be “a service company” that “happens to sell shoes” and more. Amazon.com founder Jeff Bezos claimed to be “obsessive-compulsive” about serving customers, and six customer service tenets guide decisions company wide, HubSpot reported. Reward brand loyalty Not only is keeping customers less expensive than finding new ones, but repeat buyers are more likely to become the advocates that help your brand equity grow. Invest in building long-term relationships with your customers through a meaningful rewards program that encourages repeat purchases or interactions with your brand. Above and beyond points, give loyal customers special treatment by: Asking their opinion: Consider creating an audience or customer panel to consult when developing new products or services. Providing input on the direction of the business gives engaged customers more of a stake in your success. Awarding early access: Saving a spot at the head of the line for loyalists when it comes to sought-after new products or seasonal favorites is a perk that costs you nothing but builds appreciation for your brand. Personalizing rewards: Don’t offer generic gift prizes based on points offered; instead, consider picks tailored to loyal buyers’ individual preferences, or a meaningful discount they can apply however they like. Rewarding referrals: Loyal customers are your best word-of-mouth marketers, so be sure to reward them for any new business they bring to your brand. The Starbucks Rewards program is a perfect example of how a brand rewards customer loyalty, and one of the reasons Starbucks has undeniably built up its positive brand equity. By offering clients free products and personalized suggestions based on their preferences, Starbucks is able to keep its customers coming back for more instead of taking their business to a competitor. Members drove 53% of all U.S. company revenue in 2022, according to PYMNTS.com. Start your own rewards program with Wix Loyalty Program, which supports various types of rewards and tiers.

“The night that Threads launched was an exciting time for social media managers…It was like the first day of school, when you’re trying to find your friends and decide where you’re going to sit at lunch.” Like many other community managers, Drew Balis sat at the ready when Threads dropped on July 5. In fact, Balis authored Wix’s first-ever thread, joining the 30 millions of others who signed up for the app in the first 24 hours—and the 150 million downloads amassed in the first week (already achieving one-fifth of X's [formerly Twitter] weekly active user base, according to TechCrunch). Its entrance into the world was unlike any app before it, and though the buzz has cooled since its launch, Threads marks a significant event in social media history. But what, exactly, is Threads? Why does the world still seem to be pinning their hopes on Threads as a potential replacement for the bird app? Looking for a website builder where you can centrally manage your activity on Instagram, X and other social channels? Create a website with Wix. What is Threads? Threads is Instagram’s new sibling. It’s a new social networking app developed by the Instagram team that mimics some of X's finest qualities—but, albeit, is much simpler in its current form. Much like X, Threads promotes sharing short text-based posts to participate in public discourse. “We are working toward making Threads compatible with the open, interoperable social networks that we believe can shape the future of the internet,” writes Meta, alluding to Threads’ unique connection with Instagram. Threads’ integration with Instagram may seem like a minor detail, or simply a logical move for two apps invented by the same parent company. In reality, this signifies a revolutionary shift in how social platforms are designed from the jump. The ‘dopamine’ effect Threads’ explosive debut was hardly an accident. For one, it was well-timed, says Balis. It entered at a time when people have become disillusioned with X. “I got the impression that when [X] ran into issues with bad press, Threads said, ‘Okay now is the time’ and jumped on the excitement, instead of waiting for a perfect product,” muses Balis. At such a volatile time for X users, Threads not only presented a more positive, controversy-free environment—but also provided a very easy way to get started. It opened the door, as Harvard Business Review reports, for unified social media identities. “Today’s top social media applications such as [X], Facebook, and LinkedIn are designed as ‘walled gardens’—self-contained ecosystems that lock users’ data inside the platform, and tightly control access,” notes HBR. “All of this helps social media platforms entrench their market dominance. Because it’s a pain to move to a competitor, users stick around even when their experience degrades.“ By contrast, signing up for Threads is as simple as a click of a button for Instagram users. Instagram followers are instantly added as Threads followers, giving early adopters a solid follower base to start out with. “It gave people a way to reconnect with old Instagram friends. In the initial hours of using Threads, it was a pleasant surprise to see names that I hadn't engaged with in years. I experienced that 'dopamine effect' that most of us have come to expect with social media.” - Drew Balis, social media manager at Wix Moreover, Threads’ association with Instagram had the power to dispel the usual doubts around safety when a new app is launched. "Being associated with Meta is a big reason that I've taken Threads seriously," shares Balis, whose typical day entails managing Wix’s X account. "When a company like Meta shows enthusiasm for a project, they tend to put their best foot forward and give it a real shot." While Threads' daily usage has dropped since its launch and questions about Threads’ user retention is circulating the web, Threads arguably remains a strong contender given its tie-in with Instagram, plus the rate at which it's being developed. Just two weeks after its launch, Instagram announced several highly requested features, including a "Following" tab and translations. Many suspect that once Threads adds more sought-after functionality, it stands to regain traction, especially amongst X users who feel alienated from the X platform. How do you sign up for Threads? If you’re also thinking of adding Threads to your marketing strategy, here’s a quick overview of how to get started. As noted earlier, getting started is simple, requiring just a few steps: Create an Instagram business account if you don’t have one already. Download the Threads app, which is available for Android and iOS. Open the Threads app and log in using your Instagram credentials. (If you have multiple Instagram accounts, you can switch between them and choose which one to use for Threads.) Once logged in, you can create your profile, which includes the standard social media account elements (profile photo, bio, links, etc.). You can import your exact bio and associated elements from Instagram or customize your profile for Threads. Note: you can’t change your username in Threads. Set your profile to public or private. Anyone on Threads can see public accounts, but private accounts are only viewable to approved followers. (Optional) Select your followers. You can select all of your followers from Instagram, or handpick a few. If you choose to follow any Instagram followers who aren’t yet on Threads, their status will appear as "pending" until they've joined. Can you delete your Threads account? It’s important to note that if you delete your Threads account, you will be required to delete your linked Instagram account, too. That said, you can always deactivate your Threads account without disturbing your Instagram activity. Alternatively, if you have second thoughts about Threads, you can make your Threads account private. Hopefully Meta will sever the dependency between the two apps at some point, the way they do with Facebook and Instagram, but we’re not there yet. Threads vs. X (formerly Twitter): how the two stack up The source of hot debate right now: Is Threads truly an alternative to X? It’s too soon to say, says Balis. Threads still has a ways to go before it can unseat X—and X itself is still reeling from an advertiser exodus and other, put lightly, changes. However, billionaire mismanagement aside, both platforms have their merits. Here are some of the biggest differences and similarities to date: Core functionality: Both X and Threads allow users to share short updates that include text, images and video. They're like an online town square where you can post your thoughts and interact with others through reposts or likes. Timeline/feeds: X offers several different ways to track new content (e.g.,the algorithmic "For You" and the chronological "Following” feed). And as of July, Threads offers both an algorithmic feed (that, anecdotally, liberally shows branded content) and a "Following" feed. Character limits: X allows non-premium users to write tweets that are up to 280 characters long (meanwhile, X Blue users with paid subscriptions can post up to 25,000 characters). Threads gives all users up to 500 characters for each post. Video limits: On X, non-premium users can post videos up to two minutes and 20 seconds long, while X Blue subscribers can post videos up to two hours long. Threads allows all users to post videos up to five minutes long. Desktop and mobile versions: X offers both desktop and mobile interfaces—a useful perk for social media managers—while Threads only offers a mobile experience. Searchability: X has a robust search feature that allows you to search tweets for specific words, phrases or hashtags. You can filter search results by various criteria like date range or language. Currently, Threads has no search function, which means that it doesn't support hashtags. Account creation: X offers a standard account creation process, whereas Threads offers a more instant experience, provided that you already have an Instagram account. Account deactivation and deletion: You can deactivate your account at any time on either platform. However, should you decide to delete your Threads account, you'll also have to delete your Instagram account. With X, you can deactivate your account, and it will be permanently deleted after 30 days if you don't reactivate it by logging in. Community: X's greatest strength is arguably its mature community, with active engagement around pop culture events (like the Grammys), news and interests (like SEO). By nature of being a new platform, Threads has yet to develop that level of community. So, is Threads worth your time? Despite its infancy, Threads is not something to be ignored. If you’ve already got an Instagram marketing strategy, then Threads could be a welcome addition. “I wouldn't recommend neglecting one platform for another,” says Balis to businesses that have an existing X account. "But if you're a young company without an established [X] account, then I'd argue it's more beneficial to focus on Threads. Strive to make an impact and establish yourself as a leader there, rather than trying to build from zero to 500 on [X] where it’s noisy." Balis additionally recommends factoring in your audience: If you're a B2B company whose appeal is discussing hot-button issues and engaging in those conversations, X might be a better fit because of its mature community and search capabilities. On the other hand, if you're a B2C company aiming to reach end customers with a physical product, Balis suggests leaning towards Threads. In these early days, it’s easier to stand out on Threads—with brands even attesting to receiving eight times more likes on Threads than they would on X. And, if this is the direction you choose to go, you can (and should) start simple. Repurpose your top-performing content from other platforms rather than creating Threads content from scratch. Combine your standout text posts and one-liners from X with your most engaging photos from Instagram. “Test, learn and have fun,” encourages Balis. “I think the best way to learn any social platform is to simply use it. Think of it like learning chess in your spare time. You can read about strategies all you want, but you won't truly understand them until you try them out in a game.” Examples of early Threads adopters It’s no surprise that celebrities and brands like Wendy's are already making their presence known on Threads. For inspiration, here are a few of our favorite Threads so far. Wendy’s Wendy's response to an ego battle between Elon Musk and Mark Zuckerberg involving their presence on Threads received over 23,000 likes and 900 replies within three days of posting. True to its reputation, Wendy’s fills its feed with witty, humorous posts. Anthropologie American retailer Anthropologie used a popular social media marketing strategy to gain new Threads followers and engagement—a giveaway. They promised to give out gift cards to users with the best Threads-inspired puns, which yielded some delightful banter. Tom Brady One of Balis’ personal favorites—the legendary quarterback posted a video of his mic-drop chant “We’re still here” to celebrate Threads’ three-day anniversary. The post seems to express what many of us are wondering in the back of our minds: Will Threads come out victorious? Or, will the hype fade in the likes of BeReal and Google+? What’s next for Threads? By any measure of digital achievement, Threads is impressive. (Consider that the 100 million sign-ups Threads received in just five days took X two years to reach.) In Balis’ eyes, Threads has the potential to last. One month in, it’s not so much a matter of if Threads will replace X, but how the two will coexist. “It doesn’t have to be—and likely won’t be—a knockout fight. They can both be prominent players. But many people will likely gravitate towards Threads to escape things that they don’t like about [X]. Threads just needs to be ready and invest its time into building a community that rivals that of [X]'s.”

Investing your money in online ads poses its own new challenges, as you’ll be dealing with many different types of ads and platforms. With this in mind, we’ve compiled a thorough and in-depth guide to the different ad types and formats out there to help you build a solid online advertising strategy and spend your budget wisely. Today’s economy’s key driving force is ever changing and marketers, whether they’ve been in the game for a while or are new to the field, must bring their a-game if they don’t want to fall behind. Entrepreneurs have come to the understanding that the only logical thing left to do in a world swarming with competitors is to create a website for their business and focus their efforts on building and revamping their online advertising strategy, while building some great advertisement examples at the same time. Benefits of online advertising As today’s leading medium for marketing you owe it to your online business to be online. While mass marketing like radio spots and printed media can make a difference to your business’ success, it won’t enable you to create a personal relationship with your potential consumers from around the world like online advertising can. Not only will you be able to reach out to your target audience on a global scale and enable millions of consumers to reach your business, online advertising is also incredibly convenient and accessible. You can easily track sales items online, send notifications, develop a targeted audience engagement strategy and plan ad campaigns accordingly with just a few clicks. Plus, you’ll have access to a wide array of analytics tools so you know exactly which campaigns, marketing strategies and keywords are working for your business and which are not. And if that wasn’t enough of an incentive for you to delve as deep as you can into internet advertising, one of online advertising’s top advantages is its cost-effectiveness and low operating cost. Unlike old-school methods where you have to spend a fortune to promote your products and services, online ads are inexpensive with certain sites enabling you to promote your website for free. Not to mention, you’ll be helping the environment by reducing paper, printing, and postage usage. Types of online advertising Whether you’re a seasoned paid specialist or are new to the online advertising game and have only heard of Image Ads, Video Ads and Carousel Ads, there are so many types of online ads available, it’s easy to get lost. Most online advertising ads run today run according to programmatic advertising. This is essentially the use of technology to automate the targeting and running of online ads. It involves using software to target specific audiences, often in real-time. It's what makes online advertising so efficient and impactful. In order to choose the best ad format for your campaign’s purposes and goals, ensure your ad is engaging a improve your return on Investment (ROI), you’ll need to familiarize yourself with these four main types of online advertising: Social media ads Paid search ads Native advertising Display advertising Social media ads With more than half of the people on earth using social platforms, you simply can’t ignore social media advertising. In fact, social media ad spend has already surpassed printed ads and ranks as the third-largest advertising channel, behind TV and paid search. Promoting your business via social media you’ll be able to reach and target specific audiences across the different channels, drive leads and sales, and leverage a variety of ad formats so that they best serve your marketing goals. Note: One way you can promote your business is by using a link in bio tool such as Hopp by Wix to direct users towards your website and specific social channels via one designated URL. When choosing the best social media ad format, ask yourself who your target audience is and which platforms they use, as well as the characteristics of the action you’re trying to promote. Knowing the different features and advantages each social ad strategy can offer you will help you figure out where to invest your money for better results. Facebook With over 2.7 billion monthly active Facebook users and more than 90 million small businesses using the platform’s free business tools, reaching your relevant public has never been easier. Using Facebook’s ad targeting tools you can reach out to three types of audiences: Core audiences: this tool enables you to define an audience based on their age, interests and geography. Custom audiences: helps you get back in touch with users who have previously engaged with your business. Lookalike audiences: enables you to reach new people whose interests are similar to those of your best customers. There are several ways to advertise using Facebook, with the most commonly used ones being image, video, story and lead ads: Image ads are great for driving traffic to your website and improving your internet advertising by sharing collections of images. Video ads are super popular as they are both visually captivating and are perfect for showcasing your product and brand. Story ads are an interactive solution that enables you to combine between photo and short-form video content. Lead ads allow you to capture lead information, whether for newsletter subscribers, event registrations, or follow-up services without directing users out of the Facebook platform. To learn more about how to make the most of each of these formats, read through our guide on the best practices to creating successful Facebook ads. Instagram Instagram is the social channel with the second-highest ROI among marketers, and is particularly relevant for those targeting audience ranges between the ages of 18 and 34. You can advertise on Instagram through your professional business account, create ads for your Facebook Page and promote them on either or both channels, or create custom campaigns in the Facebook Ads Manager targeted specifically at your Instagram audience. Similarly to Facebook, Instagram ad types include image ads, video ads, story ads and lead ads. However, the most innovative ad types on Instagram at the moment are Ads in Explore and Shopping Post ads: Explore is a discovery surface for users searching for new content and exploring their interests helping marketers reach a new audience. Shopping Post ads include a product tag and allow you to maximize the reach of your products by boosting shoppable posts or creating the ad from scratch in Ads Manager for more creative flexibility. Twitter There are over 187 million global daily active users on Twitter, with stats showing that 77% of Twitter users appreciate a brand more when it responds to their tweet. While digital advertising is less common on Twitter since organic reach is still a major indicator of a brand’s performance on the network, ads can still help you reach your business’ goals, particularly if your target audience ranges between the ages of 35-65. Many B2B companies and e-commerce brands have found success creating Twitter ads through influencer marketing campaigns. Rest assured knowing that the potential to monetize your efforts on the social network will likely pay off, as stats have shown that 40% of users made a purchase based on a sponsored tweet. You can target a specific audience on Twitter and then leverage your advertising strategy across Pinterest and Instagram as well, or turn to Conversational Ads - which are tweets with CTA buttons promoting specific hashtags. This type of ad can help you fuel word-of-mouth promotion of an upcoming event or product launch, however, you’ll have to request access to this ad format by filing a support ticket on Twitter. For more tips, check out our full guide on how to use Twitter. LinkedIn LinkedIn is the second-most popular social media platform among B2B marketers, ranking only behind Facebook, and it’s definitely the place to be if you want to promote your business. Its one-of-a-kind targeting capabilities allow you to target users by criteria the other platforms simply don't offer: including unique demographics, job title, job function, and industry. LinkedIn’s Message Ads enable you to send direct, one-on-one messages to your audience so you can share an event registration, promote a free product trial and more. Message ads will help you drive more website traffic and generate more leads with interactive features like Lead Gen Forms, which help you reach a very specific audience, and automated calls-to-action. YouTube As the fourth most-used social media platform by marketers, YouTube ads help you reach potential customers and have them take action when they watch or search for videos on the platform. Unlike other types of social media advertising, on YouTube you’ll only have to pay when users show interest in your ad. Ads on the platform appear before and during videos or as stand-alone promoted videos displayed after a search is performed. You can choose to advertise on YouTube using different types of ad formats, as well as targeting specific demographics and interests. Pinterest With a strong focus on visuals, Pinterest boosts over 442 million monthly active users, the majority of which are female. The platform’s ads are pieces of content pinned by marketers and brands that have a dollar sign added to their description. Marketers can then link pinned items to their official pages to drive traffic. With stats showing that businesses can reach more than 169 million people on Pinterest and that shopping is a top priority for 48% of the platform’s users, this is definitely a site to consider on your online advertising strategy. Paid search ads Paid search ads, also referred to as search engine marketing or SEM, help businesses reach people searching online for specific queries on search engines. This type of advertising works on a pay-per-click advertising model, meaning until someone clicks on your advertisement, you don't pay. While organic results on search engines and other free ways to promote your website could in fact help your business grow, they don’t have the same effect paid search ads have. In fact, businesses generally make an average of $2 in revenue for every $1 they spend on Google Ads. Furthermore, advertising on search engines protects your brand from competitors setting out to buy your branded terms. The most popular platforms for paid search ads are Google, Bing and Yahoo. Google is obviously the most used search engine with a whopping 3.5 billion daily search queries, and with stats showing that over 70% of the total searches worldwide are performed on Google. You can’t, however, afford to ignore its competitors. In order to know where you should invest your money, check your brand’s keywords on Yahoo and Bing in order to verify whether they are actually making a substantial amount of traffic to your site or not. Once you’ve mastered one of the three search engine platforms advertising techniques, advertising with the other two will be straightforward and a lot easier. Check out our guide on how to advertise on Google so you can start building your online advertising strategy on search engines. Native advertising Native advertising matches and functions naturally in the media format in which they appear. The key to native ads is that they are non-disruptive and could in fact go unnoticed by readers. With that being said, studies have shown that even though readers may not even realize they are consuming a paid advertisement, 31% are still more likely to buy from a brand after viewing their native ad. There are different types of native ads: “In Feed" ads that appear in the social network feed, search and promoted listings that appear at the top of your Google search results or in the sidebar, and content recommendations that appear after you’ve finished reading an article online. This type of internet ads expose your products and services to huge amounts of potential consumers and create a close relationship between publishers and brands. Consumers look at native ads 53% more than display ads, which means that even though your ad may not look promotional, it’s getting the job done. Display advertising Display ads are usually text, image or video-based and are meant to encourage a click-through from the user in order for him or her to take a specific action, such as get to the following page, make a purchase, etc. Most of them are promoted on a cost-per-click (CPC) basis, meaning that every time the user on a search engine clicks the ad, the advertiser gets charged an amount based on their overall bidding strategy. There is no wonder then that display ads are notorious in the advertising world, having tricked users into clicking misleading ads. However, in the right platforms they can be used to leverage data in order to display your ads to the targeted audience you’re looking to reach. Google display ads Using the Google Display Network (GDN), advertisers can design visually appealing ads and place them on millions of websites and apps (including YouTube and Gmail) straight from their Google Ads account. The platform enables you to target your specific audience through demographic and geo-targeting as well as your targeted audience’s specific interests. If you prefer, Google Ads will take care of the bidding process and will even figure out who your ideal audience is by using its automated targeting and bidding features. Clicks, impressions, conversions and Google Analytics can all be tracked from Google Ads, so you can see just how effective your ads really are. Facebook’s audience network Facebook's Audience Network uses the same targeting data from the Facebook platform in order to help you place native ads, banner ads, full-screen ads, in-stream ads, and rewarded video ads on the network’s websites and apps. This helps you monetize with high-value, boost your revenue and give every ad impression the opportunity for maximum earning potential with real-time bidding. How to measure the success of online advertising Key to understanding and increasing the impact of online advertising is knowing which metrics to set as KPIs and track, in order to understand the success of your online advertising campaigns. There are many metrics to track, and some are more relevant for some types of campaigns than others. But some of the main include: Conversion Rates: this is the percentage of users who take a desired action after seeing an advertisement. Often this is the most tracked metric for advertising campaigns and the real measure of how successful it was. Click-Through Rates (CTR): CTR measures the number of clicks on an advertisement divided by the number of times it was displayed. A high CTR indicates that the advertisement was engaging and relevant to the target audience. It would also demonstrate that an ad is reaching the right audience, with the right content. A low CTR would need to be investigated and the campaign or assets optimized to raise it. Cost per Action (CPA): CPA measures the cost of each desired action, such as a sale or sign-up, and is used to determine the return on investment (ROI) of an advertising campaign. This can be used to decide if it's worth continuing to run an ad or campaign based on how high or low the CPA is. Bounce Rates: Bounce rate measures the number of visitors who leave a website immediately after arriving. A high bounce rate can indicate that the advertisement wasn't relevant or effective in capturing the user's attention. A low bounce rate would suggest the opposite. Monitoring bounce rate is important for understanding how to improve the optimization of ad landing pages and resources. Return on Ad Spend (ROAS): ROAS calculates the return generated from an advertising campaign, divided by the amount spent on advertising. It's a useful metric for determining the overall effectiveness of an advertising campaign. Lifetime Value (LTV): LTV measures the value of a customer over the lifetime of their relationship with a business. This metric helps determine the long-term impact of an advertising campaign on customer acquisition and retention. It's a long term metric and must be treated as such. Engagement Metrics: Engagement metrics, such as likes, comments, and shares, can provide insight into the effectiveness of social media advertising and help measure the reach and impact of an online advertising campaign. They help advertisers understand what type of ads and what type of content resonates with their target audience and can be used to plan future campaigns. Referral Traffic: An increase in referral traffic to a website can indicate that the advertisement was successful in driving traffic and generating interest. Referral traffic can also be a way to track and measure brand awareness. Sales Metrics: Sales metrics, such as revenue and units sold, provide a direct measurement of the impact of advertising efforts on a business's bottom line. This may be less easy to track if you offer services or something less tangent than an actual product, but understanding the number of subscriptions an ad bought can also be considered a sales metric. There are also a number of micro ad relevant metrics to track specific ads, depending on their type and goal. These include, cost per mille, cost per engagement, cost per cost per lead, cost per view, cost per install to name just a few. Potential concerns around online advertising While there is no doubt that online advertising is impactful. However there are a number of considerations to consider when deciding how to run an online advertising strategy: Privacy: Online advertising often collects personal data to target advertisements, which can raise privacy concerns around how that data is shared and used. It also puts it at risk of being leaked from a cyberattack or similar. Misleading Ads: There have been instances where advertisements are misleading or make false claims, which can lead to customers losing not only trust in a specific product or brand but in online advertising in general. Ad Fraud: Ad fraud involves the use of bots or fake traffic to artificially inflate ad metrics, causing advertisers to focus on specific ads and assets that seem to be helping them meet KPIs, when the opposite is true. This leads to resources and ultimately money being wasted. Ad Fatigue: Over-saturation of online ads can lead to ad fatigue, where users become desensitized to advertising and ignore it. This can then potentially make future ads less effective, or makes it harder to capture the attention of ad weary online users. Ad Blocking: The use of ad-blockers has become increasingly popular, making it difficult for advertisers to reach their target audience. These can be installed as extensions on a computer or browser and allow users to block ads on web pages. Ad Discrimination: Online advertisements can be discriminatory, excluding certain groups based on factors such as age, race, and gender. Online advertising FAQ

Businesses of all types share a common goal: to make revenue. In order to do so, they need to reach prospective clients who might be interested in or can benefit from their product or service. As an entrepreneur, writing a proposal is one way to close the gap between you and your potential customers. At any stage of your business, from creating a business website to building a customer base, it’s crucial to effectively persuade people that what you’re offering is the best solution in your market. When starting a business, you want to stay one step ahead of the competition. We’ve created a complete guide on how to write a business proposal, as well as a list of the best practices to consider when crafting your own. What is a business proposal? A business proposal is a document written by a business that’s designed to convince a prospective client to award them a particular job contract, or to use their services. For example, a photography agency might submit a proposal to a firm that’s looking to get new company headshots. The proposal can be as short or as long as necessary to successfully communicate relevant information. Unlike a business plan (see our guide on the types of business plans), which serves as a roadmap for how to structure, operate and manage a business, a proposal is created to help sell your offerings and reach new clients. Although there are three types of business proposals to consider, they all address the same points: what is the problem at hand, what is the proposed solution and how much does it cost. The different types of business proposals are: Formally solicited proposals are made in response to an official request - either verbal or written - by prospective clients. Most businesses prefer using RFPs (request for proposal), which is a document sent to another organization asking it to submit a business proposal. If your company is solicited a proposal, you’ll have the advantage of receiving all the vital information that the client is looking for, so you can write up a solid proposal. Informally solicited proposals are those that have been requested by prospective clients, although unofficially. They may come up in the setting of a casual conversation or meeting. If your company receives an informally solicited proposal, the preliminary research about the client will be done by you, unlike what happens during formally solicited proposals. Unsolicited proposals are sent to potential clients even though they don’t request one. Unsolicited proposals are comparable to a popular sales technique known as cold calling, in which a seller contacts a potential buyer who hasn’t previously shown interest in their offering. Implementing extensive market research, however, can help turn an unsolicited proposal into a personalized bid for your prospect client’s active attention. How to write a business proposal Start with a title page Create a table of contents Make your case with an executive summary Sketch out the problem in question Offer a solution Introduce your team Add pricing options Outline your terms and conditions Make room for signatures 01. Start with a title page Whether you’re starting a business or expanding an existing one, your business proposal's title page serves as an important anchor. Here you’ll introduce the fundamentals. List your name, business name and company logo, as well as the client’s name and contact information. Add the date the proposal was submitted and a compelling title to distinguish your business from the rest. Keep in mind good writing and grammar rules, such as capitalizing the letters in names and titles. Stay consistent with the formatting of all contact information and dates. In your layout, think about how you can help the most important elements stand out. The title should be front and center, followed by your name, company name and logo. People are drawn to aesthetically pleasing design, so make sure your title page is attractive to the eye and that it falls in line with your message. One way to do this is with typography or the visual aspect of type. When typing in your text, try to make it appealing and legible by carefully selecting the right alignment or font size. Choosing a specific typeface or font pairing can visually set the perfect tone for your proposal. For example, if you work in the publishing industry, then you may want to use American Typewriter to highlight your expertise. 02. Create a table of contents The average attention span for a person is down to eight seconds. That gives you just enough time to transmit a few words to someone else. To make your proposal easier for skim reading, consider adding a table of contents. That way, readers can easily navigate through different sections. Think of a table of contents like a cheat sheet in outline form. It lets your potential client know exactly how to find everything in your document. The table should mention all the main components of your business proposal, from the executive summary and pricing to the terms and conditions. When crafting a digital proposal, you can create a clickable table so that your reader will have the ease to revisit each section and quickly search across multiple pages. 03. Make your case with an executive summary In your proposal, the executive summary serves as a high level overview of your business. Explain why your business offers the best solution to a prospective client’s problem or issue. Use direct language that is persuasive and communicates all your key points clearly and eloquently. Take the time to talk about your business by writing a mission statement and vision statement and outlining the specific benefits clients can expect from your product or service. Articulate this by showcasing any milestones in your career, such as new customers a month or reaching a significant number of sales. 04. Sketch out the problem in question You want to show that you’ve got your customer’s best interest at heart. With that said, be sure to establish that your company truly understands the problem at hand. In order to do so, use clear and concise language to address the issue in question. You can explain in simple terms what difficulties your client is facing or what exact problem is holding them back. Readers will be able to better see themselves reflected in your proposal if you explicitly show their concerns are integral to the solution you’re offering. Additionally, you might also point out an issue that a potential customer hasn’t been made aware of, indicating a solid awareness of their needs. This can lead to forming a strong relationship with your prospective customer and gain their trust. 05. Offer a solution This section of your business proposal is about how you plan to address the client’s problem. Here, you’ll need to clarify the “how” and “when” of your proposal while avoiding industry jargon that may obscure any type of reader’s comprehension. At this stage, you’ve reviewed the challenges the client faces and showed you’ve got the best intentions to help them. Now, you’ll want to translate these approaches into a strategy. When laying out your offering, you may want to include a timeline detailing when each part of your plan will be taken. That way, the client knows when to expect what you’ve promised to deliver. For example, if you’re running a coaching business, you can walk the prospective client through each step of your proposed solution, from a pre-consultation meeting to the wrap-up session. 06. Introduce your team Now that you’ve addressed your potential client’s main priorities and your solution, the prospective customer is ready to spend some time getting to know your company in depth. Whether you’re a team of one or many, it’s important that the client identifies who the experts are. Feature your staff with their names and headshots, alongside their company titles and short bios. You should highlight details such as education levels, awards, industry-specific training and any other relevant background. Having an About Us section is not only a great space to introduce your team, but it also strengthens credibility and builds trust. For example, incorporating testimonials from satisfied customers helps boost your business’s reputation. This section is the perfect transition to telling the unique story behind your brand and talking about your business’s values, vision and goals. 07. Add pricing options You want to avoid any confusion when it comes to money. Creating a pricing table can bring clarity and accuracy to different payment options for each product or service that you're offering. This also lets potential customers quickly find what they are looking for and immediately see how much it will cost them. An organized structure like a table, where options may be viewed side-by-side, is also a great way to draw attention to your most important offerings and increase your chances to upsell. 08. Outline your terms and conditions Clarify what you and your client are agreeing to if they accept your proposal. This is where you want to specify formalities such as the duration of the business deal, payment dates and methods, the project timeline from start to finish, and the cancellation policy. Any necessary permits or licensing must be added in the section, too. It is highly recommended to consult with a member of your company’s legal team or an external lawyer to go over this section before finalizing your proposal. 09. Make room for signatures Conclude with a signature box for clients to sign and make it official that they are committing to your business proposal. Make sure to include a line for the signing date. Consider including a friendly prompt for the client to reach out to you in case they have any questions, accompanied by your contact information. For digital proposals, set up an e-signature field and make contact details clickable. Best practices for writing a business proposal Each section of a business proposal is composed of many components. To make the process easier, we’ve handpicked a few tips to get you started: Use visual content - From charts and graphs to photographs and illustrations, visual content can be used to enhance any proposal. Use images to better explain and highlight crucial information so the potential client doesn’t miss a thing. Embrace quantitative data - At the core of any decision-making process is data-driven research. Statistics such as demographics, market size, monetary figures and more can enrich our understanding and help validate your claim. Take it online - A digital proposal makes it easy for you to share it and get feedback. You can include audio clips, hyperlinks and videos to keep readers engaged, making the content more enticing. In case your proposal is meant for the eyes of individual clients only, you can password protect it to keep the content gated. Watch out for typos - Your proposal is a reflection of your business. It should look professional and polished. Proofread the final version of your proposal before it is sent off and watch out for any spelling mistakes and bad grammar. Remember your brand voice - Your brand is the way your business is perceived and what sets it apart from the competition. Stay true to your brand identity and values throughout your proposal. Maintain a cohesive tone and style of communication, whether that means being technical, playful or anything else. Implement a call-to-action - After reading your business proposal, a potential client should know what to do next. By using a persuasive call-to-action (CTA), you’ll be able to prompt your audience to perform a certain act or follow the final step to sealing the deal. ‘Join now’ or ‘contact us’ are good examples of strong CTAs.

In today’s saturated market, brands are in constant competition for the attention of consumers. So how do you make your business stand out? What’s the magic ingredient that’s going to sway buyers in your direction? The answer is brand recognition. The better your brand recognition, the more likely people are to choose your product. By making sure the elements that comprise your brand identity are unique, consumers will recognize your product even before they see or hear your company name. While there are many marketing strategies that contribute to brand recognition, the first step is to come up with the perfect name for your business. To get the ideas rolling, try this brand name generator for inspiration. Then, you can hit the ground running to promote your business. What is brand recognition? Brand recognition refers to how identifiable a brand is through its visual and auditory characteristics, such as its brand colors or jingle. It is a key factor to staying relevant among consumers, as it increases brand awareness and ensures consumers opt to buy your product over your competitors’. A successful brand recognition strategy requires a holistic marketing approach in which all aspects are intertwined and work together to bolster your business. Consistency is key here, so make sure your visuals and overall brand messaging are uniform across all your marketing assets. To better understand brand recognition, let’s take a look at two examples - Kleenex and Tupperware. These are two brands that hit the nail on the head in terms of brand recognition and, ultimately, have become household names. Everyone knows that when someone asks for a “Kleenex” they’re looking for a tissue, or when someone searches their cabinets for “Tupperware” they’re looking for a food storage container. In both cases, the brand and the product have become synonymous. Stages of brand recognition There are anywhere from 4 - 6 different stages in the brand recognition process. These include some or all of the following in this specific order: Brand rejection Non-recognition Recognition of a brand Brand preference Brand loyalty The end goal of brand recognition is preference and loyalty, where consumers choose your brand every time, when faced with a choice or when in need of a product or service. Measuring brand recognition is not straightforward, even for smaller companies, and will most likely involve a combination of metrics. Generally tracking brand recognition is tied up with measuring brand awareness and involves looking at how people react to a brand online, in person and across all of its marketing and advertising efforts. Types of brand recognition When it comes to brand recognition there are several main types brands can choose to use and develop in order to improve their brand awareness and marketing. These include: Visual recognition As it name suggests, this type of brand recognition is based on the visual elements of a brand, such as its logo, color scheme, and packaging design. Visual recognition helps consumers easily identify a brand and its products through these different visual elements. Audio recognition The audio elements of a brand, such as its jingle, slogan, or sound effects make up this type of brand recognition. Audio recognition can be especially effective in creating an emotional connection with consumers, as well as something that can go viral and be heard by millions of potential consumers on a global scale. Verbal recognition Verbal recognition is the verbal elements of a brand, such as its name, tagline, or catchphrase. Verbal recognition helps consumers recall and recognize a brand and pass on their awareness of a brand to others. Emotional recognition The emotional associations that consumers have with a brand, such as feelings of comfort, security, or excitement make up this type of brand recognition. It can be especially powerful in helping to build brand loyalty amongst diverse groups of potential consumers. Behavioral recognition This type of brand recognition is based on the actions and behaviors of a brand, such as the quality of its products and services, the way it treats its customers, and its reputation. This includes a brand's online reputation, including how they present themselves on social media and other platforms. Behavioral recognition can have a significant impact on consumer trust and should be considered carefully. Why is brand recognition important? Brand recognition should be a key component of a smart and well rounded marketing strategy. Here are the key reasons why. Builds brand awareness Often used interchangeably, brand recognition and brand awareness are actually not the same thing. While the two are similar, brand recognition is a component of brand awareness. Brand recognition involves establishing yourself in the market and making yourself known. Brand awareness, on the other hand, is more about showcasing why your brand is the best option out there. The two work in tandem to promote your business and transform your brand into a household name. Establishes an emotional connection When you think of your favorite brand, what comes to mind? Do you only think of the product, or is there a specific feeling that it evokes? Oftentimes, we choose specific companies because of the emotional connection we have to them. And brand recognition is a key ingredient to creating this. Your brand should trigger positive associations with consumers, persuading them to choose your product over others. Keeps your brand top of mind Achieving brand recognition requires steady and consistent marketing efforts to prevent your brand from flying under the radar. This also ensures that consumers will remember your product when it comes time to purchase. In fact, a study conducted by McKinsey found that people are three times more likely to purchase a new product from a company they’re familiar with than from a company they haven’t heard of before. This just goes to show how important it is to stay relevant and be memorable among consumers. Creates consumer trust and loyalty Successful companies have an identity that consumers can relate to. This connection enhances the trust that people have in specific brands and creates authentic, long-lasting relationships. Once you have a established your brand image and brand equity, customers are more likely to stick with you in the future. Consider the iPhone, for example. 59% of iPhone users claim they wouldn’t consider researching other phones before their next upgrades, even if it meant saving them money. That’s telling of the power of brand recognition when it comes to building brand loyalty and getting repeat buyers. How to build brand recognition Building a brand is a journey that requires commitment over the long-haul. With that in mind, let’s discuss strategies you can incorporate that will help you achieve this goal: Have a cohesive brand identity Share your brand story Grow your online presence Make it about the customer Incorporate social responsibility Maintain a consistent marketing strategy Make your business stand out 01. Have a cohesive brand identity Your brand identity includes all of the elements that encompass your brand. This includes what sets it apart, makes it memorable and the voice you use to share it with the world. Some of these primary aspects include your logo, colors, slogan and tone of voice. It’s imperative that you keep all elements aligned and consistent throughout your branding efforts - for instance, use the same brand colors and adhere to the same brand values across all your channels. A unified marketing strategy is a key factor of creating consumer trust and loyalty. 02. Share your brand story Consumers are more likely to recognize and choose brands that they can connect to on a personal level. By explaining the “why” behind your brand, your company is much more likely to resonate with consumers, as opposed to simply offering a list of what makes your product great. A powerful brand story can grab the attention of your target market and build that emotional connection that is so vital for brand recognition. GoPro, for example, includes its entire brand story in the About Us section on their website. It explains how the founder, Nick Woodman, was seeking a better way to film his friends surfing. The story continues by describing GoPro’s users, writing, “They humble and inspire us every day with incredible creativity that helps us see the world in an all-new way - and fires us up to keep creating the most awesome, innovative products possible.” The story explains that the product allows individuals to “celebrate the moment” and “capture life as you live it.” By making consumers feel like a significant piece of the GoPro journey, the brand is able to connect with customers on a personal level. 03. Grow your online presence Having a professional website and maintaining a solid social media presence is invaluable for positive brand recognition and perception. Social media platforms, such as Instagram and Facebook, allow you to communicate and engage directly with your target audience and reach them instantly. They can also bring new consumers into your marketing funnel and generate sales. For instance, 72% of Instagram users claim to have made a purchase based on the fact that they saw the brand featured on Instagram. Another key factor to your online presence is your website. This is the first place people will go to learn more about your product, so you need to make sure you leave a lasting impression. Utilize a stylish and inviting website template and incorporate all elements of your brand identity to ensure that your site is a representation of what you stand for. It’s also important to keep your site updated with products and announcement. You can even consider creating a free blog if it’s in keeping with the tone of your brand. The more content you include on your website, the better your search engine optimization (SEO) and the likelihood of ranking higher on Google. 04. Make it about the consumer One of the most effective ways to set yourself apart is to make your brand as customer-centric as possible. In turn, consumers will feel valued and appreciated and will become lifelong purchasers. Amazon, for example, launched unlimited, two-day shipping as part of its Prime membership program in 2005. In addition, most products shipped from Amazon’s warehouses can be returned for a full refund, even if they’ve been opened and used. “The most important single thing is to focus obsessively on the customer. Our goal is to be earth’s most customer-centric company,” says Amazon CEO, Jeff Bezos. Bezos has emphasized that Amazon puts more focus on customer service and support than it does on company growth. This dedication has resulted in a surge of Prime memberships as well as lifelong loyalty to the company. 05. Incorporate social responsibility Don’t be afraid to share your beliefs and values with the world and stand up for a specific cause. It may or may not be directly related to your product. However, if it’s part of your brand story, it can still resonate with consumers. Consider the outerwear company, Patagonia. Patagonia has implemented a project called Footprint Chronicles, which provides complete transparency of its supply chain. This project ensures that none of their products cause a negative social or environmental impact throughout the manufacturing process. Each product on the website links to videos showing its specific journey along the supply chain. This way, consumers know exactly how it was produced. Patagonia’s target market is people who love the outdoors with an affinity for nature. By taking this into consideration, Patagonia has taken on sustainable efforts that reach consumers on a personal level that creates a connection to the company. This alone can be enough to convert new leads. 06. Maintain a consistent marketing strategy This goes hand-in-hand with keeping your brand top of mind. Your tone, feel and look should always be aligned and remain uniform (unless you are rebranding). By maintaining an unwavering brand image, you’ll convey your business as dependent and reliable. Consumers will also be able to recognize it across all channels and at all touchpoints. 07. Make your business stand out As Coco Chanel once said, “In order to be irreplaceable, one must always be different.” These words will continue to ring true as long as businesses exist. Remember: the key is to stand out. The last thing you want is to blend in with the sea of brands already out there. If you are starting your business, make sure all elements of your brand are unique to you. Then, you can use these elements to ensure you are noticed, grab people’s attention and begin your journey as a successful business owner.

Chasing clients? Forget about it. The modern freelancer has so many options to find work online (see our guide on what is freelancing). On these following job boards, the digital creative can access leads to dozens of open positions. These boards are especially designed to fit the needs of the self-employed. Some display listings for all kinds of different professions, while others focus on a specific field (such as Wix Designers). If you’re looking to expand your clients’ base and to increase monthly revenues, browsing through these boards is a great way to land more gigs regardless of whether you're just working from home or as a digital nomad. If you know more sites that can help the freelance community, feel free to share in the comments! And of course, another great way to turn your freelance ideas into gigs is to learn how to create a freelance website (or how to start a service business). Read Also: How to start a business General Job Boards Authentic Jobs Web Pro Jobs Krop Upwork Freelancer.com Freelancers Union Simply Hired Your Web Job Go Freelance Design, Animation, Art The Wix Marketplace Coroflot Smashing Magazine Abduzeedo Design Crowd Blogging & Content Pro Blogger Online Writing jobs Freelance Writing Freelance Writing Gigs Blogging Pro

Starting a new business requires money. From manufacturing products, marketing your services to creating a business website, you’ll soon learn that nearly every step of the way, you’ll need capital to back up your growth plans. That said, most entrepreneurs cannot finance their businesses themselves. Instead, many small business owners learn how to get a startup business loan to secure additional funding. Even if you've managed to raise money for your business from other sources, such as crowdfunding, you'll generally need a loan to supplement this. While there is an array of business loans out there, finding the right option for you doesn’t have to be hard. If you want to get a loan, you must determine which one suits you and if you will qualify for this type business funding before you search for lenders and apply. Understanding the expectations can simplify the process, helping increase your chances of approval. This complete guide will go over how to get a business loan, help you evaluate which loan you qualify for and delve deeper into the different types of loans being offered today. How to get a business loan: Understand what type of business loan you need Check that you qualify for a business loan Research potential lenders Gather financial and business documents Apply for a business loan 01. Understand what type of business loan you need Taking out a loan is one of the most popular ways to raise money for a business, but the process can daunt first-timers. The market offers many different business loans, and not every loan suits every type of business. Term loans Term loans refer to the most classic loan type. This business loan can come in almost any amount. You borrow a lump sum for a specific purpose and then you pay back the loan, with interest, in equal installments, over a predetermined time period. Your financial situation will determine the terms of this loan, including interest rates and payment periods. Existing businesses may rely on their financial history when applying for a loan, while newer business owners may have to offer up their personal financial standing. Term loans often require collateral, such as real estate or other assets, which the lender can claim if you fail to make payments. Repayment on term loans usually starts immediately, as well. Banks and private lenders both offer term loans. Banks will require a high credit score and offer varying interest rates and loan terms. Private lenders will typically accept lower credit scores in exchange for high interest rates and short repayment periods. Government-backed SBA loans U.S.-based small businesses can apply Small Business Administration, or SBA loans. Private lenders provide these loans, but the federal government backs them, meaning they will repay the lender if the loan recipient fails to do so. Lenders usually provide better rates and more lenient loan terms. The SBA loans, however, require a lengthy and rigorous application and approval process. These loans also require collateral. While the government ensures repayment to the lender, they require you to risk your personal assets in return. Some common SBA loans include: 7(a) loans of up to $5 million. 504 loans of up to $5 million. Microloans of up to $50,000. The SBA offer additional loan options for purposes such as exporting, international trade or disaster relief. SBA loans offer relatively long terms, with up to 10 years on loans for working capital or equipment and 25 years for real estate. Similar to term loans, SBA loans also require some financial history, so not all loan options are available to new businesses. See the SBA requirements to check your eligibility. Business line of credit or credit cards Credit differs from traditional loans as it acts more like a personal credit card. Rather than receive a lump sum upfront that you’ll pay interest on, you’ll gain access to a line of credit and only pay interest on money you’ve used. Many view credit as a simpler, safer and more flexible option than a fixed-term loan. Many can easily acquire them from a wide range of lenders and they often don’t require collateral. Businesses usually use credit lines for short-term financing, rather than long-term projects. Although credit varies in size and terms, many lenders cap financing around $250,000. Some creditors may still require some business financial history. So new businesses may come across difficulties getting credit from a bank. Businesses can secure a line of credit or, if they don’t qualify, they can opt for a credit card to cover ongoing expenses, which are easier to get but incur higher rates and fees. Personal loans New businesses often face difficulties when securing a loan. Many new business owners take out a personal loan to work around this. These are similar to term loans in that the owner pays the lender back in fixed installments. Most personal loans are unsecured, so you won’t have to put up collateral. They’re typically unrestricted as well, so you can do whatever you like with the money you receive. Personal loans attract many types of entrepreneurs for their quick, flexible and relatively easy qualifications. However, personal loans may be a riskier option than a business term loan which offer a legal buffer. You’ll need to put your credit score on the line and assume a personal loan’s risk. Microloans New eligible businesses that need less than $50,000 can take out microloans from the SBA or other lenders. Many NGOs offer microloans to businesses that focus on issues like education, equality, or the environment. 02. Check that you qualify for a business loan All businesses need operational funds, but not every business can secure this funding with a loan. To get a business loan, you’ll need to consider your financial history, credit store, collateral options, and line of business. Make sure you understand your desired loan’s terms and conditions before applying. How new is your business? Every lender will want to know your business’ financial and operational history. New entrepreneurs may find it more difficult to get a loan. If those starting a new business can rely heavily on their own financial history, they will have a better chance of getting a personal loan. New businesses may also have luck applying for a business credit line or credit cards for short-term financing, as they pose less of a risk for lenders. How high is your credit score? No matter the type of business loan, all lenders will want to take on as little risk as possible and recoup the costs. They’ll want to see your financial situation before lending. Generally, the better your credit score, the better terms you’ll receive on your loan. On the flip side, if lenders see you as a higher risk, they’ll require a larger collateral, shorter return periods, and higher interest rates. To get a traditional business loan, you’ll need a good credit score. Generally, a bank or SBA loan requires a minimal credit score of 680. If you have a lower credit score, you may still secure a loan, but you will have more limited options and stricter terms. If your credit score falls within the 600-680 range, you may want to consider alternative lending options, such as a term loan from an online lender, or a line of credit. Credit scores below 600 make it more difficult to get a loan, especially if you’re a new business without a proven track record. However, you may still receive credit or other short-term loans. What is your line of business? While your line of business may seem irrelevant when getting a loan, lenders view some fields as more precarious or profitable and will consider this when determining risk. That said, even if your history or personal finances lock you out of certain traditional lending options, you can work with lenders who operate solely in your field. Additionally, some NGOs or private entities also provide financial assistance to businesses working on certain causes, like sustainability, human rights or environmental concerns. Do you have a detailed business plan? While lenders dig into financial histories, they’ll also want to consider your business’s future when determining risk. To secure a business loan, you’ll need a thorough business plan that calms lenders’ nerves and ensures that you’ll pay them back. A proper business plan includes expense and revenue projection, preferably broken down monthly or quarterly. It should also include a detailed description of your operation, marketing strategy and even a market analysis. Can you provide collateral? Some lenders will require you to provide an asset as collateral to ensure they receive their money back. If you fail to pay back the loan, the lender will assume ownership of this provided asset. Collateral can include assets such as real estate, equipment, inventory or cash. Collateral may also decrease the lender’s risk, and potentially provide you with better loan terms. While you can receive a loan without collateral, your lender may require you to sign a personal guarantee that offers your personal assets as collateral. To lessen your personal risk, you should ensure you can pay back a business loan before taking one out. 03. Research potential lenders These days, many lenders approach businesses offering different loan types, amounts, terms and requirements. Many consider commercial banks like Citibank and J.P. Morgan as the most traditional business lenders. If you qualify, they can provide decent terms for business or personal loans of all sizes. However, the approval process often tends to be longer and more rigorous than other lenders.Small businesses can also approach local banks for smaller loans. Many local community banks will give out loans with favorable terms to local businesses. Online lenders have also become one of the most popular ways to get a business loan, especially for new businesses. Many sites let you compare options and connect with different lenders offering different terms. Generally, the easiest application process comes from direct online lenders. Businesses may also want to check out peer-to-peer lending for smaller loans. Platforms such as SMBX connect small businesses with private lenders and investors offering lending options. 04. Gather financial and business documents Regardless of your chosen loan type, amount and lender, you’ll need to organize your paperwork before you apply. Your lender will ask you for common documents like bank statements and tax returns for your business or personal accounts. You’ll also need to provide credit reports, though most lenders can access your credit report on their end. If you already run an established business, you’ll need to provide financial statements, including a balance sheet and cash flow statements. New businesses can’t provide these, and instead may need to provide a detailed business plan with financial projections. Lenders will also want to see legal documents like your federal tax ID, state filings, etc. Some lenders may ask you to include additional information, like potential collateral, or require a certified public accountant (CPA) to review or audit your statements. 05. Apply for a business loan Before you approach your chosen lender, ensure you know your desired loan type and size, as well as the intended purpose. Once you’ve organized all your information, you can confidently apply for a loan. If your lender approves you, you’ll need to understand the terms and agreements before you commit. You’ll also need to know what reports you must file, any imposed restrictions (e.g. like a minimum cash threshold your business needs to hold), and the circumstances the lender considers as defaulting on the loan. Note the interest rate and any additional feed, the payment duration and installments as well as any penalties, like those for early payment. Finally, before entering an agreement with any lender, you should complete your due diligence and confirm their reputation within the industry and with clients. By Emily Shwake Wix Blog Writer

According to a recent Goldman Sachs survey, while 2021 was more difficult for business than 2020, 73% of owners expressed optimism about their small business’s financial trajectory in 2022. An overwhelming majority supported emergency federal assistance to small businesses during the COVID-19 pandemic. Starting a business or running one has never been cheap. Figuring out secured funding is essential to succeeding especially during a global slowdown. Whether you want to bootstrap a business or find investors, this guide will compare the available small business funding options. Tip: Make a business website and gain all the tools you need to grow your business. Best business funding sources 01. Bootstrapping Bootstrapping uses existing resources such as personal capital, equipment and real estate to fund a business. If you choose to bootstrap your business, you may start with dipping into savings accounts and adjusting the line on your personal credit card to come up with cash. But once your venture takes off, you can reinvest your profits to continue funding your business growth. Bootstrapping allows you to maintain full equity in your business and decide on impactful issues without investor interference. It also helps you learn better spending habits as you manage big business goals on a tight budget. Mailchimp’s $12 billion exit to Intuit makes it one of the most successful bootstrapping startups in tech history. As a side project to a web design business, co-founders Ben Chestnut and Dan Kurzius launched Mailchimp in 2001 and slowly and steadily nurtured their clients towards their email marketing business. Mailchimp’s success was ultimately tied to “a proximity to its customers,” Chestnut told the New York Times back in 2016. His advice was: “If you want to run a successful tech company, you don’t have to follow the path of ‘Silicon Valley.’ You can simply start a business, run it to serve your customers, and forget about outside investors and growth at any cost.” 02. Crowdfunding Aspiring entrepreneurs have long used crowdfunding to raise money for business online. As the cost of starting a business keeps rising, some small business owners use crowdfunding websites, such as Kickstarter, GoFundMe and Indiegogo, to help close the gap. When funding your business via crowdfunding, know your target audience. Create a transparent budget and set a reasonable goal. Communicate with your backers frequently and once you hit your fundraising goal, don’t forget to thank all your donors. 03. Loans from family and friends Currently the richest person alive, Jeff Bezos owes his early success to the $250,000 loan he received from his parents for Amazon in 1995. Borrowing from family and friends comes with its own set of pros and cons: Not only will people within your personal network give you a more gentler and flexible lending experience, they won’t charge you to apply and may even eliminate interest rates altogether. On the other hand, taking a loan from family and friends often comes with a lot of emotional ties that can worsen relationships . When the time comes to create your elevator pitch to family and friends, keep it professional but friendly. Show them why they should invest in your business. Write a speech like you would for a bank or private lender using these guidelines: Present your case and outline reasons why they would want to fund your business. Share a completed business plan template to show you are worthy of credit and prepared. Help them understand how the money will help Give them a repayment timeline with applicable interest. Turn this agreement into a document with signatures from both sides. 04. Bank business loans The U.S. Census Bureau reports that bank loans comprise 99.9% of external financing for small businesses (see our guide on how to get a startup loan). However, we need to learn more about lending practices in relation to how they contribute to an ever changing economy. (Note: The FDIC and the Census are conducting a survey of 2,000 banks of all sizes across the U.S and expect to publish their findings in 2024.) In the meantime, if you run an established business with strong credit and collateral, you might want to figure out how to get a business loan from a bank. See what financing options you qualify for, whether for equipment, commercial rental loans, business lines of credit or business credit cards. 05. Angel investors From dentists to influencers and retirees, angel investors represent a more diverse investing crowd than ever before. And the New York Times reports that the research firm Pitchbook stated that some 3,000 new angel investors made their first deal in 2022, up from 2,725 investors in 2011. The Securities and Exchange Commission amended the investor accreditation process last year, removing certain “roadblocks” that deterred aspiring small time investors, reported the Times. Companies like AngelList Venture now help all types of businesses raise capital by connecting them to new investors. 06. Venture capital Many start-ups prefer funding their business with venture capital, as firms can invest large sums quickly. With venture capital, you don’t put your personal assets at risk. Also, unlike bank loans, you won’t need to worry about structured repayment plans with harsh penalties. 2021 also saw venture funding break records. Global venture investment brought in $643 billion last year, up from $355 billion in 2020, according to Crunchbase. That said, some venture capital firms are “sounding alarm bells” due to the familiar small business challenges of rising interest rates. For example, VC firm Sequoia Capital published a 52-page presentation for companies to navigate investments during economic uncertainty. 07. SBA loans and grants The U.S. Small Business Administration backs loans to help fund business owners. These U.S.-bank administered loans, generally include low interest rates and fees, counseling and resources, and require little or no collateral. Four million small businesses received nearly $390 billion in COVID relief funds under the SBA’s COVID Economic Injury Disaster Loan. SBA head Isabella Casillas Guzman said in June 2022, “Nearly 90 percent of loans went to small businesses with 10 employees or less, which tend to include the hardest-hit and most underserved population.” Aside from special programs, the SBA website has a Lender Match tool that helps you match your needs with traditional loan options (including 7(a) loans, 504 loans and microloans.) When talking to SBA approved lenders, keep your business plan, credit history, financial projections and amount of funds by your side. The SBA also provides limited small business grants to promote entrepreneurship in scientific research and development. However, you cannot use these grants for starting or expanding your business—only to maintain or run an existing business. 08. Credit union financing Many Americans have turned to non-for-profit credit unions for community and personal relationships with their lenders. In fact, 3.37 million more people joined credit unions between 2019 and 2020, bringing total membership to 125.11 million, according to CNBC. According to the Credit Union National Association, these institutions' lending grew more than bank lending did during the pandemic. Credit unions also offer low-interest programs and special member services, including financial education and outreach. Find your local credit union on mycreditunion.gov.

Dear Matt, We were all very surprised by your post, as you have so many claims against us. Wow, dude I did not even know we were fighting. First, you say we have been taking from the open source community without giving back, well, of course, that isn’t true. Here is a list of 224 projects on our public GitHub page, and as you can see they are all dated before your post. We have not checked if WordPress is using them, but you are more than welcome to do so, some of them are pretty good. We always shared and admired your commitment to give back, which is exactly why we have those 224 open source projects, and thousands more bugs/improvements available to the open source community and we will release the app you saw as well. Next, you talk about the Wix App being stolen from WordPress. There are more than 3 million lines of code in the Wix application, notably the hotels/blogs/chat/eCommerce/scheduling/booking is all our code. Yes, we did use the WordPress open source library for a minor part of the application (that is the concept of open source right?), and everything we improved there or modified, we submitted back as open source, see here in this link – you should check it out, pretty cool way of using it on mobile native. I really think you guys can use it with your app (and it is open source, so you are welcome to use it for free). And, by the way, the part that we used was in fact developed by another and modified by you. If you want to read the account from Tal Kol, one of the leading engineers on this project, here it is. He was really happy to share his side of the story. Now, what is this thing about us stealing your branding? Our product was always called Wix and our website Wix.com, we never borrowed from your marketing or brand. In fact, if I remember correctly, until recently the Automattic home page was all about blogs and only recently it has become “websites.” Also, your business model changed to almost exactly the one we had for years. Can it be that you guys are borrowing from us? If so, again, you are welcome to it. If you believe that we need to give you credit, that you deserve credit, I must say, absolutely yes. You guys deserve a lot of credit, but not because of a few lines of source code, you deserve credit because you guys have been making the internet dramatically better, and for that we at Wix are big fans. We love what you have been trying to do, and are working very hard to add our own contribution to make the internet better. If you need source code that we have, and we have not yet released, then, most likely we will be happy to share, you only need to ask. We share your belief that making the internet better, is best for everyone. Finally, during the last couple of years, I reached out a couple of times trying to meet with you. Could I do that again here? I believe in friendly competition, and as much fun as it is to chat over the blogosphere, maybe we can also do it over a cup of coffee? Yours, Avishai