How a small business can save up to $100k?
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It is a tough economy and the startups or small businesses are the ones that are affected the most. Unless you are an heir to a sizeable fortune, it is natural that you are worried about the cash flow. As an individual, small one-time expenses may not seem like much, but when you are a small business owner, it all adds up and it is of absolute importance to keep an eye on them.
While it may be all good to read theoretical concepts, we are going to give you some immediately actionable tips that we have tried in person and some really unique grants that can come in handy for a small business. These tips together can save you up to $100,000! Interested? Let’s get going.
- Keep your eyes open for new platforms & technology
While some of the tried and tested advertising channels may be working pretty well for you, it is important that you keep your eyes open for any new platforms or technology. As a first mover or an early adopter of the technology or platform, you would have the advantage of leveraging an as yet untapped platform.
Let’s take a look at how we used machine learning campaigns and an almost untapped platform to save around $20,000!
- Run machine learning campaigns
- New platforms like TikTok
Appy Pie runs several ad campaigns on social media platforms like Facebook, Twitter, LinkedIn and more. As a practice, we allocate a certain sum of money to paid advertising on all these channels. In the last two months, our team tried out the new campaigns powered by machine learning.
This time, we achieved the same results, but we did it all for $10,000 lesser than the traditional methods! This has effectively saved us $20,000 in the last two months without compromising on anything.
Exploiting new platforms as an early adopter gives you the benefit of establishing authority well before anyone else even realizes the platform’s existence. The fact that there are not many people advertising on the platform, gets you the undivided attention of the audience.
Set up telecommuting
As technology has advanced, the world has become smaller. Remote working or telecommuting has emerged as a very real, very practical strategy. Not only does this work out great for people who prefer to work from a location of their choice but is a great way for businesses to save money.
As COVID-19 has gripped the world and we are restricted to our homes, businesses are finding it difficult to continue functioning. Even leadership and management teams of organizations have resorted to using software such as a board portal or digital meeting apps to hold their meetings remotely. In this environment, we, at Appy Pie were forced to make telecommuting a company wide policy.
However, this emerged as a blessing in disguise because, the company ended up saving a lot of money in terms of the establishment costs like utilities, maintenance, and other incidentals.
Even after the pandemic is over, telecommuting is an option you must consider. This lifts the restriction of geography, opens up opportunities for employees without having to relocate, and above all saves a lot of money for businesses with budget concerns.
Organize online events
Business events are a great place to network, attend quality seminars and conferences, and get to know the latest updates about your industry. However, if you are hosting an event, it can be quite an expensive affair. So much so, that it may be unthinkable for small businesses to do it.
So, should you give up on it altogether?
Not at all! Do your annual events online. Hold webinars, online conferences, meet and greet sessions on zoom, and accomplish everything you would in a physical event at the fraction of the cost!
Did you know that some of the biggest global events went digital? Let us know in the comments section which ones you attended and which ones you missed out this year!
Check special offers with payment partners
Big brands in every industry have corporate plans and benefits to offer for businesses. It is important to keep your proverbial eyes and ears open so that you can benefit from them. Here is a list of some lucrative offers you can benefit from!
- Apply for Stripe Corporate Card
- Save $50,000 in free payment processing after spending the initial $5,000
- 2% cashback on the top two categories every month (calculated automatically)
- 1% cashback on every other category
- $5,000 AWS credits
- 50% cashback up to $5,000 on Notion
- 5% cashback up to $500 a month on DigitalOcean
- $436 Zendesk credit per month for the first year
- $150 Google Ads credit
- 40% discount for the first year on Hubspot
- $2,000 Airtable credit for up to 5 users for 20 months
- Access to launch, 20% off, and waived implementation fee on Carta
- 3 months free access to Gusto
- 3 months free access to InVision Starter
- 20% discount on Bench for 6 months
- 20% discount for 6 months on Pilot Core
- 3 months free access to Gem
- 3 months fee waiver on Guideline
- 5% cashback on Kasa up to $500 per month
- 50% off on Expensify for 6 months
- 5% cash back on Snap up to $5,000
- 50% cashback on 1Password up to $5,000
- Join the Zendesk for Startups Program
- Create an Appy Pie Chatbot
- Learn with Appy Pie Academy for Free
- Design with Appy Pie Design
Appy Pie Design is a brand-new platform that takes care of all kinds of graphic design requirements that any business may have. Whether you are looking for a poster maker, logo maker, brochure maker, flyer maker, infographic maker, business card maker, and graphics for your website or any other digital ventures you want to take up.
- Create a self-service help portal with Appy Pie Knowledge
This is one of the biggest tips we can give you. Stripe is a great payment gateway and is an industry leader due to the quality of its services and the promise of absolute data security. Stripe has created a special corporate card for businesses that growing fast. Some of the most convenient ways in which you can save money with the Stripe corporate card are listed hereunder.
This may seem like things that are too good to be true, but we switched from our regular debit card to Stripe Corporate Card and have already saved thousands of dollars in this financial year!
Zendesk for Startups is a brilliant program that offers a monthly credit for 6 months of up to 100 agents. This credit is redeemable for any combination of Zendesk Support, Talk, Chat, Guide, and Explore products.
This program is a great option for startups so that they can get their business up and running before they have to pay for Zendesk services.
Whether you are a startup or an established business owner, one of the key areas that need your attention is communication with your customers. No one wants to be held up on a phone line for hours or write an email and wait for days to get a response to a simple query. This is why chatbots have emerged as a brilliant solution. However, there is a cost attached to building a chatbot.
Appy Pie Chatbot is a brilliant platform that lets you create and customize your own chatbot and serve your customers without employing an array of customer care executives.
Learning is a continuous process, but it doesn’t always feature high in the priorities when it comes to budget allocations. This is why Appy Pie Academy can be a great platform for small businesses. The platform has multiple courses on a variety of topics, ranging from personality development, coding, digital marketing, to
Not everyone wants to talk to an executive or a company representative for every little thing. Also, if they do, your employees will have to dedicate a big chunk of their time answering repetitive queries and directing them to tutorials. Appy Pie Knowledge lets you create a reservoir of articles that can help your clients navigate through your products and services without any handholding.
Keep an eye on Grants
These are tough times economically and for a small business, any assistance can go a big way in helping it survive and grow a little. Here is a compiled list of grants that you can explore and find the one that you qualify for.
- The Save Small Business Fund
- Google Credits
- Facebook Small Business Grants Program
- Amazon Neighborhood Small Business Relief Fund
Started in April, 2020 by the U.S. Chamber of Commerce Foundation, Save Small Business Fund is particularly for small employers who employ between 3 and 20 employees, are located in an economically vulnerable community, and have been affected by the pandemic. Upon qualifying, you can get a grant of $5,000 to cover your business expenses.
Google has declared grants of varying sums in the form of Google Ads credit to small and medium sized businesses from all over the world. The total amount of Google Ads credit to be dispersed through these grants is $340 million. Appy Pie received Google Ads credit worth $750.
Facebook has set apart $100 million in cash and ad credits for 30,000 small businesses across 30 different countries.
Amazon’s small business relief fund is limited to businesses in Seattle. But if you are fortunate enough to be there, the total grant is worth $5 million in cash. You can apply for the grant online here.
Have you found a way to save money for your business that is worth a mention? Let us know in the comments section!