Category: Finances

Advertising Success: Here Are 4 Game-Changing Facebook Ad Strategies

Facebook ads are gold. Why?

They have the potential to help you reach your target audience and boost sales. The only caveat about this platform is that it isn’t an easy thing to use — especially if you are inexperienced. 

If you want to create Facebook ads that grow your business, you need to have a strategy. Keep reading to learn 4 Facebook ad strategies that generate a positive return on investment.

1. Take Advantage of Targeting

Successful Facebook ad campaigns take advantage of targeting options. What’s targeting?

It pinpoints specific people who will most likely buy your products or use your service. Facebook advertising allows your ads to be shown to the right people — your target audience. 

There are ways you can use targeting to make your ad campaign successful. One of these ways is creating an audience. You can define your ad audience based on things like location, age, interests, and demographics.

You can also create something called lookalike audiences. This allows you to target new prospective customers based on your current customers. Essentially, it resembles your most loyal customers. 

2. Choose the Right Ad Creative

Don’t underestimate the power of your ad creative. Stock images or bland photos of your products isn’t going to give you the results you want. It’s key to choose ad creatives your target wants to engage with.

The more entertaining your campaign is the better. Why?

They don’t feel like ads. Nothing turns people off than an ad that makes it obvious that they’re selling something. You want to ensure that your ads are eye-catching.

One way you can make your ad grab your target’s attention is through video. In fact, the average engagement rate for Facebook videos is 6.3 percent. Facebook video ads also have the lowest cost-per-click, so it’s an affordable option for businesses.

Another important element of your ad creative is a strong call-to-action. Using the Facebook CTA button could triple your click-through rate. 

3. Pick the Right Ad

For a successful campaign, it’s imperative to set Facebook ads expectations. With the many options you have, it can be difficult to choose which ad is right for your business.

There are a few goals that help you choose which ad to use for your campaign. One of these goals is awareness, which means that you want to increase your reach and get your ad in front of new eyes.

The next goal to help you choose the right ad is consideration. This encourages engagement between your ads and your target audience.

Another goal is conversions, which help your prospective customers make a purchase. 

4. A/B Test Your Facebook Ads

One of the most overlooked Facebook ads strategies is A/B testing. A well-planned out strategy will fall flat without testing. 

A/B testing, or split testing, is a method that runs different variations of an ad against each other. The purpose to identify which ads are the most successful and which are not performing well.

Testing helps to better refine your ads and your Facebook ads strategies.

Are You Ready to Use These Facebook Ad Strategies?

Facebook ads that give you the results you want are not easy to accomplish.

Great ads that deliver take time and effort to create. These Facebook ad strategies will help you optimize your ads and grow your business.

For more advertising tips, follow this blog!

Sales Enablement Explained: What You Need to Know About Sales Enablement

If you don’t have a background in the world of sales, you may not be familiar with the concept of sales enablement. Even those in the industry have experienced some confusion around the concept and what it can mean for modern business.

The reality, however, is that understanding and implementing sales enablement for your company can help you succeed in the long-run. Want to learn more? Read on and we’ll walk you through everything that you need to know about sales enablement.

What is Sales Enablement?

To put it in the most basic words possible: sales enablement is the act of giving a sales team tools and information to be as productive as possible. Yes, this might sound basic or even redundant. 

However, proper implementation of a sales enablement mindset is likely more involved than you assume. It involves a great deal of research, organization, and presentation.

Sales enablement is, at the end of the day, more about the buyer than it is the seller. Enablement is the process of putting as much information about the target buyer in the hands of your sales team, and increasing sales as a result of this work.

How educated is your average salesperson about the buyer? They probably know the product in and out, but do they know what pushes a buyer to make a decision? Do they understand what buttons to push to produce a successful sale?

If the answer is no, sales enablement is something that your business might need.

Putting Sales Enablement Into Action

How can you put sales enablement ideas into action in your office? 

The first thing you’ll need to do is identify what materials and information you want to make available to buyers. What does a buyer need to know to help them make an informed and confident purchasing decision?

Once you’ve organized all the information you need about buyers, you’ll want to put your sales team through the proper training. It’s time to look at your current training program and see if it isn’t in need of a serious upgrade.

The truth is that it probably is. Consumer behavior has changed quite a bit in modern times and it’s important you try to keep up with these changes.

On top of that, you’ll want to look at the materials that you’re providing to your sales team. The ones that you intend for them to share with buyers. Are these materials as strong as they could be in terms of capturing buyer interest? 

If the answer is no, then it’s also time to update these as well. Failure to provide your team with the very best materials isn’t going to help your sales at the end of the day.

There are many more steps you can take to practice sales enablement in your office, but these basics are a great place to get started.

Practicing Sales Enablement at the Workplace

If you want to see your profits soar, you’ll need to implement a serious sales enablement mindset in your place of work. The above information can help.

Need more business advice and tips? Keep scrolling our blog for more.

 

Is Flipping Houses Worth It? The Pros and Cons of Getting Into Flipping

In the US, nearly 50,000 homes were flipped in the first quarter of 2019 alone.

House flipping has become incredibly popular as people seek a way to make big money. Purchasing a house, doing it up, and selling it on for a profit is something many people are trying to do.

Is flipping houses worth it? Is the amount of time, effort and money you put into it worth the rewards?

Read on as we look at some of the pros and cons.

Pros

People wouldn’t flip houses if there were some serious upsides. Here are some of the most important.

Big Potential Profits

The number one reason people flip houses is to make money. Houses sell for hundreds of thousands of dollars, and if you can boost a house price by even a fraction, there are thousands of dollars to be made.

The beauty is that when house prices are on an upward trend anyway, your house is worth more from one day to the next without even doing anything. By updating and upgrading the house, you have the potential to make a serious return on your investment.

Gain Experience

Flipping houses is a complex task. The more you do it, the better you get at it.

When you sell a house you’ve flipped, you’ve suddenly got a big chunk of money just sitting ready to be used on your next project. All the mistakes you’ve made on previous projects will help you to do things better this time around and make even more profit.

Sense of Achievement

At the end of a project, you should have a house that looks so much better than when you bought it.

After all the hard work you’ve put in, you deserve the sense of achievement that this will give you. It can become quite addictive.

Cons

If flipping houses is so good, why isn’t everyone doing it? That’s because there are a number of downsides too.

Financial Risk

Whilst flipping houses has the potential to make you a lot of money, it can also lose you a lot of money.

If you spend your budget updating and upgrading the property you buy, only to find that it sells for below the price you paid, you can lose thousands and thousands of dollars. You may also find it takes a lot longer to sell than you predicted. It’s a risk that you need to take seriously.

Stress

With so much money on the line, it’s inevitable that there will be a level of stress.

There’s also all the hard work you have to put into the project. You need to plan everything from what color to paint the walls, to how to get rid of all the waste (click to read more) and keeping on top of it all can really wear you down.

On the flip side, if you do make a good profit, you can afford to take some time off to recharge before the next project.

Is Flipping Houses Worth It?

Is flipping houses worth it? At the end of the day, that’s a question only you can answer.

Do you have the funds to take on a project? Can you afford the financial risk? Are you willing to put up with all the hard work and stress that will come with it?

If you do decide to take on a house flipping project, we wish you the best of luck. For more tips and advice be sure to check out the rest of the site.

Finding Health Insurance When You’re Self Employed

One of the biggest trade-offs for self-employed people is the benefits that go with an office job. Sure, you have the freedom and flexibility to do what you want, but you’re going to have to figure out health insurance.

You might think that you have no options to get insurance because it’s too expensive. With the average monthly premium a whopping $574 a month, it’s easy to write off health insurance as impossible.

You might be surprised to learn that self-employed health insurance is a possibility. You just have to know where to look.

Keep reading to discover the many ways you can get health insurance when you’re self-employed.

1. Partner or Spouse

If you’re self-employed and your partner or spouse is gainfully employed by a company with good benefits, you may be able to be added on to their insurance policy.

Every company is going to have a different approach to providing coverage for spouses and partners. Some allow it, or they will pay a small percentage of the premium. Other companies don’t allow it at all.

You should have your spouse check with their HR department to find out if it’s worth it or not.

2. Group Insurance Plans

Do you belong to a trade or industry association? You may be able to get group health insurance at a reduced rate.

There are plenty of organizations that have group plans. With a group plan, a number of people are on the same plan, spreading the risk across many people for insurance companies to cover.

The reduced risk for insurance companies can result in a lower premium payment.

3. Short-Term Insurance Plans

The most affordable health insurance plans are short-term health insurance plans. These were initially plans that were meant to cover you for a short period of time, like if you were in between jobs.

Now providers can insure people for up to a year. Vera Health is an example of a short term health insurance provider that can give you longer coverage. You can find out more about Vera Health here.

This is a great option if you don’t go to the doctor much and you don’t have a huge need for medical care. You have a lower premium and you’re still covered in case you have a huge emergency.

4. COBRA

If you recently left a job and had insurance there, you can qualify for COBRA. COBRA continues that same coverage, though you’re responsible for the premium.

That can be much more expensive, but it may be worth it if you had a great health care plan.

5. Health Care Marketplace

Thanks to the Affordable Care Act, many self-employed have access to affordable health care. You’ll need to go to healthcare.gov during the enrollment period to apply for health insurance.

There are special circumstances that may allow you to enroll outside of the standard enrollment period.

Here’s how the healthcare exchange works. You fill out an application on the website. You’ll then find out how much in tax credits you’ll receive. You can choose to have all of those credits applied to the premium payments or not.

You’ll get a bunch of options for healthcare plans in your area at different price points and quality.

Some cheaper plans may have huge deductibles or have high co-pays. Other plans may have lower deductibles and co-pays, but they’re more expensive.

Once you choose your plan and enroll, you’ll get a welcome package from your new health insurance provider. From that point forward, you deal directly with the health insurance provider and pay your bill to them.

The ACA and Taxes

There’s a special section about the ACA and taxes because the two are intertwined, but not really understood. When you apply for healthcare on the exchange, you have to give your estimated income for the upcoming year.

For example, if you enrolled at the end of 2019, you have to predict your 2020 income. For self-employed people, that can feel like an impossible task.

You should take into account your net income for the year, so look at your income and subtract the expenses.

The reason why this is important is that this figure is how your tax credit is calculated. The tax credit is applied to your health insurance premium and sent right to your insurance carrier. You never see it.

You don’t notice it until the beginning of 2021 when you get form 1095-A from the Health Care Marketplace. This tells you how much you received in tax credits during the year and this gets reported to the IRS.

Your job is to reconcile your earnings for the year with the tax credit you received. If you earned more than you anticipated, you’re going to have to pay some of that tax credit back.

However, if you earned less than you thought you would, you’ll get a tax refund.

You want to track your earnings and spending throughout the year to make sure that you’re on track. If you think you’re going to earn more, report that to the Healthcare Marketplace to have your tax credit adjusted.

It’s much better than getting a huge surprise on your tax bill in the next year.

Self-Employed Health Insurance Is Possible

Being self-employed can feel like a complete dream sometimes. It’s hard, but you’re your own boss and you have the complete freedom to do what you want as long as you’re serving your clients.

One of the caveats that they don’t tell you when you become self-employed is that it can seem impossible to find self-employed health insurance.

It used to be out of reach for many people, but there are more affordable options than before. You can get anything from short-term insurance to group insurance.  If you do get insured through the Healthcare Marketplace, just watch out for your taxes.

Do you want more thrifty ways to live and earn a great living? Check out this site again for more helpful articles.

How to Build Funds Now for Tomorrow’s Emergencies

Are you worried about not being able to pay your medical bills after a severe accident on the road or at work? Do you want to make sure your accident doesn’t get in the way of your ability to take care of your family?

If so, then it is time for you to learn how to build funds for emergencies. This bank account will allow you to pay for expenses that come with dangerous situations that can come at any time.

These expenses can range from visits to the hospital and repairing your home to fixing your car and money lost from not being able to work. With our knowledge of money management, you and your family will remain financially and emotionally secure.

Here is a guide for how to build funds now for tomorrow’s emergencies.

1. Set a Monthly Savings Goal

Your first task for how to build an emergency fund is by putting a certain amount of money into your savings account each month.

It’s important to develop your saving habits, and your fund won’t be complete until it has at least half a year of living expenses.

2. Organize Expenses

The next step in creating your emergency fund is figuring out what you spend money on and how much per month.

About 50 percent of your checks should go towards housing, food, insurance, and other necessities, and leftovers can go into your savings.

3. Save Change

If this is your first time learning how to make a budget, then one everyday factor you need to consider is change from purchases.

Put the change from your purchases with cash into your account, and those who prefer paying with cards can use mobile savings apps for automatic transfers.

4. Save Tax Refunds

You also need to be aware of sources of money that only come around once a year, such as tax refunds.

Deposit your refunds into your savings account when you file your taxes, and a probate lawyer can help in case this is your first time paying taxes.

5. Trim Down your Checking Account

Budgeting involves knowing which areas need money more than others, which is why you need to pay attention to your checking account.

Transfer money from this account into your savings fund in case you notice your checking account having more money than what is needed.

6. Find Another Job

Knowing how to create emergency funds also involves taking advantage of opportunities to make money.

Look for part-time jobs or freelance work you can do over the weekend to keep your savings account full.

7. Sell Unused Items

You can also build funds by selling items that you’ve owned for years but no longer have a use for.

These items may include clothes, books, toys, board games, and video games, which can put money in your pocket while making another person happy.

8. Stick to Monthly Checkups

Visit your savings account every month to see how much you have and stay prepared for changes that expected a few months down the line.

Whether you plan to move, get married, or start a new job, you can develop new techniques or meet the right people at any moment that can help you keep your savings in good shape.

Preparing to Build Funds for Emergencies

Your ability to build funds for emergencies depends on how you use the money on a daily basis. Keep track of what you need and don’t need so that you can maintain a balance between all accounts.

We also recommend looking out for opportunities and individuals that can help you add more to your savings account over time. With this guide, you can keep yourself and your family in good financial shape no matter what comes your way.

For more of our money management expertise, check out our guides today to keep your pockets and accounts full.

A Peer to Peer Lending Review: What Is It and How Does It Work?

Did you know that 26% of Americans reported using peer to peer lending? This type of sharing economy is growing.

Do you want to learn what peer to peer lending is and how it works? If the answer is yes, then you should check out this peer to peer lending review.

Our Peer to Peer Lending Review

So what is peer to peer lending? This form of lending occurs when individuals lend money to one another without the involvement of a big bank or traditional lender. 

This lending approach cuts out banks from the loan equation. This type of lending is a part of the sharing economy that’s all around us. Peer to peer lending is also known as:

  • Marketplace lending 
  • P2P (Peer to Peer)

How Does Peer to Peer Lending Work?

P2P lending works through technology via an online marketplace. On a P2P platform, borrowers are matched with potential lenders after filling out application information. Lenders can then select which loans to support at specific interest rates. 

In a P2P loan, there can be multiple lenders for a single loan. Lenders can back the loan in small increments, usually starting at just $25. Once the loan is in the repayment stage, the borrower must repay all of the lenders with each payment.

What Are the Benefits of Peer to Peer Lending?

There are many benefits of peer to peer lending. These P2P benefits often include:

  • Lower interest rates than traditional banks and credit unions
  • Lower origination fees than traditional banks and credit unions
  • Credit score can be lower than traditional banks and credit unions
  • Convenience of an online platform

There are several benefits for P2P lending that may help out borrowers in a pinch. With so many lending options, a peer to peer lending review can be helpful when searching for the best borrowing option for your situation. 

What Are the Risks of Peer to Peer Lending?

Like any sort of borrowing, there are risks associated with peer to peer lending. It’s important to remember that P2P lending is just as real as borrowing from a bank. There will be fees and repercussions for borrowers that default on their loan payments.

Since P2P lending takes place on technology-based platforms, there’s an inherent risk of IT security. Make sure the platform you select for your P2P lending is trustworthy and has security measures in place.

How to Get Involved in Peer to Peer Lending

Are you sold on P2P lending? It’s easy to get involved as both a lender and a borrower. The first step for each side is to select your platform of choice.

Lender

Once you select your P2P platform, then you can select the amount you’d like to lend and at what interest rate. Once matched with a borrower, you can expect to receive payments at your agreed-upon rate.

Borrower

After filling out your application and credit check, you’ll learn what your interest rate is. Once this occurs, you can accept the rate and move into the funding stage. Once your loan is funded by lenders, then you’ll be in the repayment stage.

If you found this peer to peer lending review article informative, be sure to check out other blogs on our site. 

Want To Save Money On Your First House? Work With a Mortgage Broker

Although many reports state that home sales are slowing, things are actually picking up for first-time homebuyers. Now, more than half of all new mortgages go to first-time buyers. 

Buying your first home can be incredibly exciting: you can finally customize your own beautiful living space! But it may also leave you with a lot of questions. Many of those questions have to do with money — how can you get the home you want without breaking the bank? One of the keys is to work with a mortgage broker.

What is a mortgage broker, and what can one do for you? I’ve got the answers for you in this guide. Keep reading to find out why you need a mortgage broker for your first (and any) home purchase!

What is a Mortgage Broker?

Mortgage brokers essentially act as the go-between for you and the mortgage lender. These licensed professionals have the financial know-how that you don’t, so they can help work things out so that all parties are happy with the outcome.

For example, a mortgage broker can help you find more lenders who will meet your needs, so you can find the best possible rates for your home loan. They’ll help you navigate the complexities of getting a mortgage, so you don’t run into any trouble with the lender.

Although your mortgage broker is a “middleman,” they aren’t one that you can cut out to save money. In fact, working with one typically translates into more savings for you. They work with your best interests in mind, while also keeping the needs of the lenders in mind too. 

They earn money by earning commissions from the loans they help secure. Although this adds a bit more money to the costs of buying a home, you’ll usually make up for it by saving money on the loan you get. 

Why You Need a Mortgage Broker

Although you can probably already see why working with a loan broker is helpful, let’s take a closer look at the ways they can help you.

1. Saves You Time

Buying a home is a time-consuming process. You’ll need to add many new responsibilities to your daily schedule, while still managing work and other responsibilities. Anything that saves you time is a bonus. 

Of course, you could do the work to research and compare lenders by yourself. However, that takes more time than many homebuyers realistically can spare. 

Mortgage brokers don’t just research lenders so you can target the best ones that fit your needs. They also fill out the paperwork for you, so all you need to do is sign. If any negotiations with the lender are needed, your loan broker will handle those, too.

Most of these loan brokers work with certain banks, so they already have working relationships with lenders that will speed the whole process along. You’ll get your loan faster, while also saving your own precious time.

2. Accesses More Loan Options

Some lenders actually work solely with brokers. This means there are home loan options that will never be available to you unless you’re working with a broker. Sometimes, these “hidden” options are much better than what you can find on your own. 

3. You Can Leave at Any Time

Although working with a mortgage broker generally goes well, if you run into any problems along the way, you’re not locked into an agreement. You can leave at any time and find a new broker or decide to take another approach to finding your loan.

This freedom is just enough to help some people feel confident as they start working with a broker. You won’t sign any contracts so there’s nothing to lose.

4. Gets You Better Rates

You can sometimes get preferential rates by working with a loan broker to get your mortgage. The broker can help you learn how to get better rates in ways you might not be aware of. For example, certain banks will give you a better rate if you also have a separate account, like a savings account, with them.

5. Gives You Personalized Feedback

In the process of buying a home, many things might feel like navigating the deep woods without a compass. A loan broker offers personalized feedback and guidance that you can’t get anywhere else. 

For example, you might wonder if a 30-year loan is best for you, or if a fixed interest rate is the way to go. Your mortgage broker will help you answer these questions and many more. 

The loan that’s great for one buyer might be completely wrong for another buyer. It all depends on unique factors, such as your credit score and income. Brokers have the knowledge needed to help you find a loan that fits your particular situation well.

They’ll also help homebuyers with unusual situations navigate the challenges of getting a loan. For example, if you’re a small business owner, or just changed jobs, your broker will help you get a loan even though these look like red flags to many lenders.

Brokers can even help people with bad credit find lenders who will work with them. From the unusual to the typical, a broker makes navigating these challenges of homebuying much easier. 

How to Find a Great Mortgage Broker

Most mortgage brokers operate under their own name. When you Google “mortgage brokers near me,” you’ll find names from Hunter Galloway to Mike the Money Man. But how can you tell whether or not they’re the right broker for you?

Your best bet is to look for referrals. Ask your network who they recommend. If you find someone online who sounds like a good fit, ask them to share customer testimonials with you.

Real estate agents can also be great sources of referrals. If you already have an agent, ask them which mortgage brokers they recommend. 

Ready to Buy Your Own Home?

Whether it’s your first, second, or tenth home, working with a mortgage broker makes everything easier. Don’t let the challenges of homebuying slow you down: find a professional who can help smooth out the process.

Once you have your broker, you can start planning ahead for all the cool things you’ll do with your new home. Don’t miss our guide to making your house a “smart home” here!