4 Myths and Mistakes in Marketing During a Crisis

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First, we wish everyone health and safety during through this COVID crisis.

I will outline 4 myths and mistakes in marketing during a crisis. And stick around until the end, I’ll share 3 takeaways you could implement right away.

Given our new paradigm, I’ll put a positive spin on the 4 myths and mistakes in marketing that i’ve seen. 

Not all businesses are suffering financially, but all businesses have changed in some way whether it’s a process or protocol of doing business to ensure safety. People are looking for new ways to connect including efficient ways to do conduct their business.

It’s more important than ever to stay in touch with people whether it’s email, a text or direct messenger in a social media platform.

The number one priority is reaching out to all of your clients to see how they are doing and a polite nudge to remind them that you’re available if they have any questions about anything during this overwhelming time.

We can call it marketing or we can call it staying connected in a meaningful, purposeful way. 

If you are looking to do more than just survive in your business, it’s more important now than ever to either level up your marketing or at the very least, START marketing if you’ve been putting it off or getting by with minimal efforts. 

If people don’t hear from you now when they need you the most, they will find another resource they feel can rely on. I’ve heard more than a few times, “I don’t hear from you all year and now you show up. It’s too late.

The best part is that because we’re in the digital age, the currency is time. You don’t need to invest in big advertising budgets like the Mad Men days. No magazines print ads, no billboards, no Super Bowl ads. 

Here are four myths and mistakes people make when it comes to marketing.

Myth #1 – I don’t know what to say.

There’s more to what you do every day than you realize that people would be interested to know. You know a lot more than someone who isn’t in your business but doesn’t business with you. Delivering value of what you can offer someone will help to show that you’re present in your business and available when they need you.

For people to know, like & trust you, it’s ok to show your personal side. I like to work in my yard so i’ll post projects in and around the house. It helps to show that you’re human. It will also help to show how people can relate to you.

YOU are a brand whether you own a business or work for a business. You do not need to sell your product or service every time you’re marketing. 

Myth #2 – I don’t have time.

Some people may not think they have the time because they may not have seen results worthy of scheduling the time for this task. If you carved out 10-30 minutes every day or every other day dedicated to intentional and meaningful engagement, you would see results in how people pay attention to you. 

The more you spend engaging on a platform, the more you get noticed even if you don’t think the metrics are displaying a lot views. 

Business is about relationships. People have to know how to relate to you but if you don’t exist online, then they won’t know how to find you or know how you can help them.

Myth #3 – I don’t have an audience.

If you didn’t have an audience you wouldn’t be in business. You have people all around you, but perhaps you didn’t think of them as an audience. With the INFLUENCER movement, if you don’t have a million followers or get a million views on a post, people think they’re doing it wrong or that it’s a waste of time because they’re not getting those results.

The flaw in this mentality is that we have to appreciate that for any number of views we get online is less time we have to be in our car driving to a meeting with just one person.

Don’t look at the views or the metrics if you’re just starting out. Focus on the practice of developing a new habit of scheduling time to devote to marketing. If you aren’t creating content, then curate quality content that you trust and that you find relevant to your business.

Myth #4 –There are too many platforms.

Who doesn’t like having choices? To be able to pick from Facebook, Instagram, Linkedin, Pinterest, YouTube or any other platform you are familiar with means you get to enjoy however you feel most comfortable when delivering your content.

  • Maybe you want to practice with video so you may utilize Facebook Live because you’ve been on that platform longer or you save your videos to your Youtube playlist.
  • Maybe you want to be more business-like while extolling the virtues of your products and services, so you go to Linkedin. 
  • Maybe you like snapping photos and want to include a meaningful, inspiring message, so you go to Instagram or Pinterest.
  • Or the newest darling, maybe you want to bust a move or deliver a message with curated music in the background, you go to TikTok.

There are so many tools these days to help develop content. It’s a matter of EXECUTING.

And that is where people fail. Even if it means that you are going to pick one goal, but you’re not sure how to go about it, the RESEARCH is a form of execution. 

Research is learning and learning gives us more confidence with something new.

I think a formula for success can be described as follows:

Schedule + Research = (a higher probability of) Execution.

Here are 3 takeaways to ponder:

1. Cultivate your email list. it’s the only digital asset you own. The platforms own your content once you publish it on their site.

2. Do video. If you’re shy or you hate how you look on video, I will tell you from experience, no one is analyzing you the way you think they are. Video is so valuable and helps to deliver your message in such a powerful way. The statistics of how people connect with you is undeniable. Practice with one minute videos. It’s a great, safe start.

3. Repurpose your content. What do I mean by that? If you write a blog, do a one minute video on the topic of the blog you recently published. If you did a video about something important about your business, write a blog even if it’s only 200 words. Then, put the video on your website with the blog. Then grab a section of the blog and draft a post to Facebook, Linkedin, Instagram, etc. about your blog and video.

Check out our Be GRAM-Tastic Instagram course.

If you want to find out more about it, Schedule a call with us by clicking on our online calendar here.

Quick Access to Working Capital

If you are aware of factor financing, you may know that you can leverage your Accounts Receivables with a Factoring Lender to get quick access to working capital. However, you may be concerned what your Customers will think when they have to send their payments to a different address.

  • Lending aspect aside, it is not unusual for Businesses to create a different location to receive payments on Invoices, whether a physical location or an electronic ACH location.
  • The Factoring Lender works hand in hand with you to ease the transition for payment destination on your Invoices.
  • Many of your Customers are already sending their Invoice payments for other B2B purchases to Factor Lenders whether they know it or not.
  • Factor Lending, while a niche financing solution, has been utilized by businesses in need of quick capital for 30 years.
  • Businesses frequently leverage Assets, Property, Income and other collateral to obtain working capital whether it’s a traditional Bank loan or other financing solution; leveraging your Invoices is no different.
  • The fact your business is borrowing money demonstrates strength, not weakness.  You’re demonstrating your faith in your business by borrowing money to continue to grow your business.

Factor Financing is an affordable, fast, financing solution to help you leverage important aspects of your business–in this case your Accounts Receivable–to obtain the working capital you need.  It’s easier to qualify for Factor Financing than traditional Bank Loans, especially during the pandemic paradigm when Banks are making loans difficult to obtain.

Factor Financing Qualifying Criteria:

  • You must sell your Product/Service B2B
  • Your Customers must pass muster for basic creditworthiness on their ability to pay Invoices
  • Non-Progressive Billing
  • Startups Acceptable
  • Consistent Accounts Receivable practice

Let us ease your worry about what your customers will think. Learn more to see how this could be a solution to keep your business going during this pandemic. Email us at Curious@AuroraConsulting.biz.

Optimize Cashflow During This Pandemic

In this difficult time, normal Bank lending criteria has tightened up.  Banks, always risk-averse, have become even more so during the pandemic. If a Bank is lending at all to businesses, they are only doing so to their existing business customers, and those customers must have demonstrated ridiculously healthy financials before the pandemic and more so now.

In other words: for businesses that are booming during the pandemic paradigm, in need of working capital to keep up with demand, the purse-strings at traditional Banks are pulled super tight.

Let’s discuss the fortunate scenario that your products are flying out the door or your services are in high demand right now due to the new pandemic paradigm. However, you find yourself in need of working capital, here’s a unique solution for your business:

Convert your Accounts Receivables to instant cash.

If your Customers have a good history of on-time payments within 40-60 days of Invoice issuance, and you’re selling B2B products or services, then you’re positioned to take advantage of this quick, affordable, working capital solution.  Lean into your Receivables and get the cash you need today to better service the orders for your Products and Services with Accounts Receivables Factor Financing.

Criteria:

  • You must sell your Product/Service B2B
  • Your Customers must pass muster for basic creditworthiness on their ability to pay Invoices
  • Non-Progressive Billing
  • Startups Acceptable
  • Consistent Accounts Receivable practice

Contact us to learn more about how Factor Financing could be an incredibly efficient and cost-effective way for you to have capital flowing to your business. Email us at Curious@AuroraConsulting.biz.

Short-Term Solutions for Long-Term Goals

There are two scenarios that some business owners take when starting and maintaining their business.

First, no debt.  These businesses were started with savings and/or investments from the business owners.  These businesses fund daily and annual operations costs with money generated from the profits of the business.  These business owners most often do not like the concept of credit debt, or, worse, have a severe anxiety about the idea of borrowing money to run their business.

Second, belief in debt.  Using debt in the form of credit financing is a reliable source of capital for starting and running a business when the concept is applied with smart planning. These business owners understand that obtaining capital to start or grow a business from a bank loan or other financing source can be a great way to preserve existing profits and working capital, and also a viable option to find the money needed on a larger scale.

Pandemic Panic financing such as disaster relief loans, SBA economic injury disaster loans (EIDL) and paycheck protection program (PPP) loans due to the COVID-19 crisis is a type of credit financing that, in most all cases, could be a band-aid on a gaping wound.

Longer term financial considerations, as your business strives to come through the crisis and survive on the other side, it’s important to consider other types of credit financing to help you obtain the working capital you need.  We’re exploring many different options for our clients.  One of those options is Asset-Based Lending, specifically, .

This is an excellent option for a business with valuable and well-performing Accounts Receivable to obtain quick sources of working capital to assist through this crisis.  The Factor Financing Lender works hand in hand with you and your business team to create a system where your customers invoices are assigned to the Lender.

For a very reasonable cost, you can obtain immediate access to the cash value of that invoice practically as soon as you send it out to your customer.  This quick access to capital dramatically improves your Cash Flow situation, helping to make you stronger on a daily basis to survive and thrive through this crisis.

Factor Financing Lenders vary in their criteria for the types of businesses and types of receivables they prefer.  We’ve assembled a healthy matrix of different types of Factor Financing Lenders to provide you with an array of financing options for your business to help you through the COVID-19 pandemic.

Curious? We are here to answer your questions about this type of financing. Email us at Curious@AuroraConsulting.biz.

 

Plan Prepare Prosper with a Business Plan

There are business owners that are still focused on how they can conduct business today based on the old normal. We’re here to say that you might as well flush that notion down the toilet. It’s a sad reality indeed. We’re not saying that a business cannot be prosperous in today’s climate. No! We are merely saying that there are conditions that must be considered on how you can market your business. We need to reconcile in our minds that this is a “new normal” paradigm.

It’s an apocalypse of sorts. The old normal isn’t coming back anytime soon, if at all.

In our experience as financing brokers we discovered that with the more than two dozen businesses we spoke to ranging in revenue from $60,000 a year to $6,000,000 a year, not one of them had a written business plan. And that was during normal times! It’s a bit crazy that people run their business without a written business plan. It is an essential document for your business. It’s a working, living, breathing document of your business.

And here we are now during the pandemic paradigm.

Now more than ever you need a business plan if you plan to go back to business or keep your business alive. A business plan is a written guide book, that not only helps you to survive this crisis, but also prepares you for new, unexpected challenges as they arise. Those challenges are coming! And those challenges are unknown! The consequences of those challenges are uncertain.

Too many business owners have seen how, in this pandemic environment, a sudden challenge can arise in an hour, a day, a week, a month. And they’re not prepared to deal with that challenge. Even if they had a business plan that they created during normal times, that business plan is mostly useless if not completely useless under this new paradigm, under this new normal.

We are promoting the idea that you need to create a written business plan right now that helps you to survive and helps you to face every unknown challenge that could come your way.

Contact us at Curious@AuroraConsulting.biz to discuss how you can plan, prepare and prospect during this pandemic.

6 Podcast Episodes That Stopped Me in My Tracks


With COVID 19 hanging around longer than what anyone expected with no eradication in sight, it’s a mistake to think you should stop marketing for your business. I know how difficult it is to market a product or service that you may not or cannot offer right now.

My business is (was) a commercial financing brokerage. Banks aren’t lending right now due to the “all hands on deck” disaster relief financing efforts to help small businesses survive. Given our resources in lending, we pivoted quickly to stay connected to know how the banks and lenders were receiving (or not receiving) guidance from the Small Business Administration (SBA).

This gave us an opportunity to share information and insight. This provided an opportunity to create and share content. One of the ways to grab people’s attention is to share what you know. How you share that information and insight is through the various platforms available to you. There are different ways to broadcast your message:

  1. Written word such as emails and blogs
  2. Audio such as podcasts
  3. Video such as long-form, short-form or live video.

On March 15th of this year, the tough and undeniable realization was that we were going to have to dramatically pivot how we do business in order to earn an income.

Based on my background in insurance, marketing and financing and my partner’s experience with mortgage banking, financing and marketing, we began strategizing the avenues we could possibly earn income.

One thing we have in common is our love and success with marketing. Ultimately, marketing is the way we can get our brand and our business out to the world.

About a year ago, I stumbled upon a popular podcast hosted by Michael Stelzner of Social Media Examiner. it’s called Social Media Marketing. As I worked in the yard (almost every day), I would get my exercise in, stress out and learn a few lessons along the way.

I put together a list of the six Social Media Marketing podcast episodes in 2019 that stopped me in my tracks. They prompted me to put into immediate action various tips and techniques to make marketing not only more effective but more fun.

There are so many more episodes that this podcast offers depending on your hot button with what you enjoy (or don’t enjoy) with marketing. Maybe it’s advertising strategies on a specific platform. It’s there. Maybe it’s online traffic vs. foot traffic. It’s there.

The six I chose happen to be evergreen so you can hear their stories and apply their suggestions even during a pandemic. Stelzner has over 400 episodes in the Social Media Examiner library. I encourage you to check out the library of episodes to see what catches your eye and rings your ear.

Six of my favorite episodes are;

Narrative Storytelling: How to Weave Stories Into Your Marketing – Ep. 336 with Melissa Cassera of https://melissacassera.com

I listened to this one twice. Everyone loves stories, but some of us may not be good storytellers when it comes to creating content. You will increase the attention of your reader, viewer, listener if you employ solid story structure.

Find the episode here: https://www.socialmediaexaminer.com/narrative-storytelling-how-to-weave-stories-marketing-melissa-cassera/

Phrases That Sell: 8 Copywriting Tips – Ep. 337 with Ray Edwards of https://rayedwards.com

This was the first episode I heard Stelzner use the term “solid gold” when it came to preparing us for what would be included in this episode. Ray Edwards has done copywriting for some of the top influencers in the marketplace. You can find this impressive list on his website.

Find the episode here: https://www.socialmediaexaminer.com/phrases-sell-8-copywriting-tips-ray-edwards/

How to Create Long-Form Videos That Sell – Ep. 342 with Daniel Harmon of https://harmonbrothers.com/home

This was fascinating to hear the success of these two brothers in creating videos for companies that no one heard of but had incredible, almost unicorn success with the content they created for their clients.

It’s inspiring to think of the ways you can create video content, if this is a format you feel comfortable engaging. Video is inarguably the most valuable platforms to leverage your “top of mind” factor.

Find the episode here: https://www.socialmediaexaminer.com/how-to-create-long-form-videos-sell-daniel-harmon/

Instagram Stories for Business: How to Create Engaging Stories – Ep. 369 with Alex Beadon of https://www.alexbeadon.com

This episode caused me to break out in a sweat because it was something completely new and I was already overwhelmed with all the new ways I could make marketing more effective.

It was compelling to switch how I was looking at Instagram stories as a viable platform. I hadn’t embraced snapchat or live video person so I didn’t think this platform or method would work for me. Instagram has been soaring in its popularity and effectiveness to build fan and brand loyalty.

Alex made me realize the important of consistency when it comes to showing up for your clients, colleagues and future clients.

Find the episode here: https://www.socialmediaexaminer.com/instagram-stories-for-business-how-to-create-engaging-stories-alex-beadon/

How to Create Content That Attracts Customers – Ep. 356 with Melanie Deziel of https://www.storyfuel.co

Melanie used to be a journalist and her experience included training her fellow journalists how to create a framework for content. This was fascinating to learn how far you can stretch and repurpose content from one platform. For example, with one podcast episode, you can then create a blog. From the blog, you can extract “snackables” for social media posts.

Melanie’s book Content Fuel will help ease the pain of what to create (“focus”) and where to publish (“format”).

Find the episode here: https://www.socialmediaexaminer.com/how-to-create-content-that-attracts-customers-melanie-deziel/

Magical Words That Sell: How to Build Trust in Your Marketing – Episode 391 with Marcus Sheridan of https://marcussheridan.com

Now, this one was a little extra special for me because I met Marcus Sheridan in Cleveland at an insurance seminar and literally stopped him in HIS TRACKS to take a picture. I didn’t know Marcus then, but it wasn’t the last time I would hear of him and learn from him.

His magical words will help you generate your own magical words for your magical marketing message. He focuses on how your website is likely not appealing to the visitors in the way you think it is.

Find the episode here:

Those are the six that helped me prepare for the biggest pivot of all: The coronavirus lockdown.

As I mentioned, there are over 400 episodes. Please do not mistake my choosing only six episodes as means to dilute the library of informative content that will help you too and keep your readers, viewers and listeners coming back from more.

You can find our musings and madness here:

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Stay safe, stay well.

Who’s Not Afraid to Say “I Don’t Know”?

Who else is an avid fan of Warren Buffett? The “Oracle of Utah” presided this weekend over the annual—virtual—Shareholders meeting for Berkshire Hathaway. Mr. Buffett was a stout, granite-like, believer in the recovery of the American economy after the crash of 2008. This time, not so much.

Much of his ideas, though overall optimistic, were tempered with uncertainty for the future of the American economy in particular and the Global economy as a whole. “Nothing can basically stop America” and “You can bet on America” are two optimistic quotes in an article about the Berkshire Hathaway meeting and Mr. Buffett in today’s NYTimes.com. But he tempered much of his positivity with more than a few “I don’t knows” when queried by the audience and journalists on the uncertain future of a continuing COVID-19 world.

Not that he was necessarily espousing “doom and gloom” as much as he was following a traditional line of thinking for himself and his company: Cautious optimism. Warren Buffett would rather lose out on an opportunity for an investment than to have acted to quickly, without the due consideration such a decision deserves. You can clearly see this as a bedrock concept of his success as a stock investor. He’s not sure which way the economy is headed, but he’s hoping for the best.

Warren Buffett is a student of economic history, and he presented his analysis at the meeting of the American economy from 1789, up to and past The Great Depression. He pointed out that the stock market took 22 years to recover to its highs between 1929 and 1951. His realistic assessments are important for us at Aurora Consulting as we determine ways to continue our Brokerage and find working capital for businesses.

We’ve spent the past six weeks working feverishly—including more than a few all-nighters—to help our clients obtain SBA Disaster Relief financing, in particular the EIDL program and PPP loans. We’re happy to report we’ve been quite successful with that project. But now we find ourselves casting about to see what our horizon looks like, and how to continue helping our clients.

To take two of Mr. Buffett’s phrases into our context seems appropriate today. “I don’t know” is the first. We have some good ideas and you will see those concepts unfolding in the coming days and weeks. Already this week we’ve scheduled conferences with different types of Lenders as part of our deep-dive into lending availability for our clients. We’ve also created basic strategies for Aurora Consulting on the best ways to move forward and help Small Business during the ongoing pandemic and its attendant economic challenges.

The second of Mr. Buffett’s quotes, and the inspiration for this blog, seems most appropriate to what we do here at Aurora Consulting, we find working capital from Banks and Lenders for our Small Business clients. Warren Buffett, as quoted in today’s NYTimes.com: “This is a very good time to borrow money, which means it may not be such a great time to lend money.” Realistic words, a realistic assessment from The Oracle of Utah.

Here at Aurora Consulting, we’re going to embed the Oracle’s words into our strategic thinking so as to best serve our Small Business Clients. If you want to know more about how we help business owners, please email Curious@AuroraConsulting.biz.