Merchant Cash Advance Blog

There is an important statistic every business owner should know - it costs 7 times more to acquire a new customer than it does to keep an existing one. But it’s not only the cost to consider. You can't understate the value of developing solid customer relationships.

For more than a year, small businesses have struggled to fill open positions. According to a new survey from the Alignable Research Center, roughly 45% of small businesses are putting hiring on hold due to higher salaries, inflation, and the fear of recession.

At a time when business owners are trying to hire staff and increase sales, they are exploring how social media can help them achieve these goals in a cost-effective way. 

In a recent survey, 87% of small-business owners said they primarily used Facebook for marketing, followed by 75% for Instagram, 28% for YouTube, and 26% for TikTok. But when it comes to which social media platforms small-business owners are most excited about, 30% said TikTok, compared to 28% for Facebook.

It's almost impossible to run a business today without taking credit cards. Over 12 million companies in the U.S. accept cards, and they process 103 billion transactions each year, totaling nearly $6 trillion.

Social media marketing for small businesses can sometimes be challenging. Where do you begin? How do you start? How do you grow your bandwidth? Here are 9 steps to help you get your social media efforts off the ground.