CPGrow 2024 Recap: A Showcase of Innovation and Opportunity

Posted on by Kaylyn Perry

On March 20, 2024, five growing CPG brands took the virtual stage at the CPGrow 2024 pitch competition. Hosted by Sean De Clercq, Kickfurther’s CEO and Founder, this event wasn’t just a competition; it was a celebration of creativity, determination, and the entrepreneurial spirit that drives the consumer packaged goods industry forward. 

Each brand was given the opportunity to pitch their innovative product and story, followed by a five-minute Q&A session with our panel of judges including Natalie Holloway, BALA, Sumeet Shah, VHS Ventures, and Kelly Wojcik, REI Path Ahead Ventures.

The reward? A staggering $150,000 in no-cost inventory funding along with other grand prizes from our partners that could help transform the trajectory of any scaling CPG brand. 

We had over 400 applications and these 6 made it to our live event and got to share their founder story with our amazing judges and audience.

Meet the Finalists

CPGrow featured five scaling brands each with a unique vision and pitch. 

The evaluation process was rigorous, but each of these brands had a unique story to share with a strong plan to continue to scale. After receiving over 400 applications, we embarked on an evaluation process to find the brands that provided a compelling story to move them to the semi-finalist round. From there, we reviewed their captivating 60-second pitch, which highlighted their growth plans and why they should be selected as a finalist. We also assessed their financial strength and growth potential. All of these factors painted a clear picture of why these brands stood out and how they would continue to make an impact and succeed in the future.

Watch the recap here.

Caskata

Shawn Laughlin, Founder & Creative Director

Founded on the principles of timeless design and meticulous craftsmanship, Caskata offers a range of beautifully curated pieces that blend classic elegance with modern whimsy. Each item is a testament to the brand’s commitment to quality and distinctive style, featuring intricate, handcrafted patterns inspired by nature and heritage motifs. Whether setting a table for a special occasion or enhancing the everyday, Caskata transforms simple moments into memorable experiences with its exquisite and durable products. 

ELAVI

Michelle Razavi, Founder & CEO

Known for their plant-based protein bars and rejuvenating health drinks, Elavi’s products are perfect for fitness enthusiasts and anyone looking to elevate their dietary habits. Made with clean, simple ingredients and a promise of no artificial additives, Elavi is dedicated to purity and performance. 

Just Date

Sylvia Charles, M.D., Founder & Chief Innovation Officer

Rooted in the belief that natural ingredients lead to better health, Just Date offers a delicious alternative to refined sugars. Their signature date syrup and sugar products are crafted from high-quality, sustainably sourced dates, providing not only exceptional taste but also nutritional benefits like fiber, antioxidants, and minerals. Ideal for health-conscious consumers who refuse to compromise on flavor, Just Date makes it easy to sweeten anything from your morning coffee to gourmet desserts naturally. Embrace a healthier way to indulge with Just Date’s pure, plant-based sweetness.

Nads Organic Underwear

Daniel Baird, Cofounder & CEO

Founded with the vision of providing environmentally conscious consumers with a guilt-free option for everyday essentials, Nads offers a line of premium, organic underwear that doesn’t just feel good on the skin—it’s good for the planet too. Made from ethically sourced organic cotton, each piece is designed to deliver unparalleled softness, breathability, and durability. Nads Organic Underwear champions the cause of eco-friendly fashion by crafting products that are both biodegradable and stylish, proving that you can make responsible choices without sacrificing quality or comfort. 

Seed Ranch Flavor Co

David Delcourt, Chief of Flavor and Co-founder

Seed Ranch Flavor Co. prides itself on creating sophisticated, handcrafted sauces and seasonings that elevate home cooking to gourmet standards. Each product is carefully formulated without artificial additives, relying instead on fresh, organic ingredients and unique spice blends that cater to discerning palates. From smoky hot sauces to aromatic truffle seasonings, Seed Ranch Flavor Co. ensures every dish is not only flavorful but also wholesome.

Our Rising Brand Winner: Quitch

Ilyssa Norda, CEO

Quitch is dedicated to bringing comfort and ease to those suffering from the itchiness and discomfort caused by insect bites. Using a unique blend of natural ingredients, Quitch’s topical treatments are designed to soothe the skin quickly without the use of harsh chemicals. Perfect for adventurers, outdoor enthusiasts, and families alike, Quitch products are easy to apply and essential for any outdoor activity. Say goodbye to the annoyance of bug bites and hello to uninterrupted outdoor enjoyment with Quitch, where nature meets innovation for your comfort.

The Pitch Highlights

From whimsical tableware to groundbreaking food and beverage innovations, each brand brought something unique to the table. Each brand was able to share their story, vision and product with our judges and audience, followed by five minutes of Q&A.

Watch the recap here. 

The Winning Pitch: Just Date

Amid tough competition, “Just Date” emerged as the standout brand, captivating the judges and audience alike. Their pitch wasn’t just good—it was a compelling story of how sustainable sourcing and innovative sweeteners can revolutionize the way we think about diet and health.

 

Learn more about Just Date.

Just Date took home $150,000 in no-cost inventory funding from Kickfurther along with prizes from our amazing partners including:

AVL Growth Partners

60-minute executive consultation with a CPG CFO, a 20% discount on roadmap defining Business Evaluation, and an additional 10% off all professional services moving forward

(Up to $12,000 value)

Forecastr

50% off first-year and waived implementation fee, plus a financial model review and consultation.

($3,000 value)

Hawke Media

Comprehensive marketing audit that entails an exhaustive assessment of your acquisition tactics across Amazon, social platforms, and search engines. Plus a deep dive into email and SEO strategies.

($5,750 value)

RangeMe

Premium Membership

($1,399 value)

ShipBob

Free fulfillment onboarding

($1,500 value)

Kickfurther: Empowering Brands to Grow Forward

We’re incredibly grateful to our community for their support during our first CPGrow event. Kickfurther was built by founders, for founders to empower the growth of CPG brands. By offering funding for up to 100% of your inventory costs on flexible payment terms that you customize and control, we hope to provide CPG brands with the capital they need to grow on their terms. 

Thank you to our Partners

We want to extend our gratitude to our incredible partners who played a pivotal role in bringing CPGrow Live to life! Thank you to AVL Growth Partners, eComEngine, Forecastr, Hawke Media, Power to Pitch, RangeMe, and ShipBob. 

As we wrap up CPGrow 2024, the excitement doesn’t end here. The conversation about innovation continues, and the journey for our participants and their growing brands is just beginning. 

Don’t miss out on your chance to be part of this community. Whether you’re a budding entrepreneur or an established brand looking to break new ground, CPGrow is the platform to showcase your innovation and drive. Stay tuned for next year’s competition—where your brand could be the next big winner!

Inventory Financing: What Is It and How Does It Work for Startups?

Posted on by Kaylyn Perry

Ramping up for a big launch, preparing for seasonal surges, or expanding product lines—all these hinge on one critical factor: funding. Without enough capital, even the most promising businesses can sputter and stall. But what do you do if you’re caught in the catch-22 of needing more stock to generate sales but also requiring sales to afford more stock? 

 

Cue inventory financing, a strategic tool startups can leverage to maintain momentum and take advantage of growth opportunities. So, what exactly is it, and how does it work to fortify your startup’s resilience? Find out in this comprehensive read. 

What is inventory financing? 

Inventory financing is a specialized financial option to help you access funds using unsold inventory as collateral. If you’re rich in product but short on cash, then inventory financing for startups is for you. Here, the fund amount is a percentage of the value of your existing inventory, whether it’s raw materials or finished goods.

 

By using what you already have to sustain and grow, you can bridge short-term cash flow gaps without dipping into reserves or waiting for sales. This way, you can supplement your working capital, boost your liquidity, capitalize on market prospects, or scale operations effectively. 

2 Types of Inventory Financing

Gain an understanding of inventory financing for startups by unpacking these two main categories: 

  1. Inventory loan

In inventory loans, lenders will offer you a loan based on the value of your inventory. You then settle this loan in set monthly payments over a fixed term, usually tied to the lifespan or turnover rate of the inventory, or in a lump sum after its sale. Typically, an inventory loan is a one-off loan, which requires a new application every time you need additional funding.

  1. Inventory line of credit

This flexible form of inventory financing gives you a fixed amount of credit that you draw upon as needed, but you pay interest only on the amount you’ve used. This will particularly suit you if your business has fluctuating inventory needs because you can access the funding repeatedly as long as you pay back the borrowed amount. 

How to Secure Inventory Financing for Startups 

Here are the critical steps to keep in mind when applying for inventory financing:

1. Determine your funding needs  

Before seeking financing, know precisely how much inventory you need, if you intend to use the funds to stock up. Thoroughly assess your startup’s inventory requirements by considering sales volume patterns, seasonality, and other economic factors affecting customer demand. Remember that overestimating can lead to excessive borrowing and unsold inventory while underestimating might leave your business short on sellable stock. 

2. Meet basic requirements

Ensure your business satisfies these criteria before applying​​:

 

  • Your startup should have been operational for at least a year, so you’ll have a more comprehensive sales history for lenders to review. 
  • Prepare a detailed sales history demonstrating profitability and the capacity to repay.
  • Showcase your startup’s ability to monitor and safeguard merchandise well by presenting a well-organized inventory management system. It should be able to provide timely reports on product shipping, returns, and sales.

3. Select the right inventory funding partner

Take the time to compare different financing entities to ascertain their unique benefits and drawbacks. Consider how quickly you need the funds, the amount of financing you require, and whether the lender specializes in your industry. 

4. Gather financial records

Inventory financing may not be as stringent as traditional forms of funding. However, some lenders may still require certain financial documents to properly evaluate whether you can repay the loan. These include the following standard documents:

 

  • KYC (Know Your Customer) process you use to verify your clients’ identities
  • Certificate of business registration 
  • Proof of company address 
  • Profit and loss statements and balance sheets
  • Sales forecast
  • Business bank statements
  • Inventory lists
  • Management records
  • Tax returns

5. Process your application 

Once your requirements are ready, complete an application online or visit a lender’s physical branch. The application form typically requires basic information about you and your business, including the loan amount you’re seeking. 

6. Get ready for an audit

After you’ve submitted the application and your financial documents, the lender will thoroughly evaluate your creditworthiness and eligibility for inventory financing. If you pass the initial review, they’ll usually conduct a field audit of your office space, facility, or warehouse. This will help them assess your existing inventory and operations.

7. Review and consider the loan offer

Following the audit of your financials, the lender might present you with a preliminary loan offer. Carefully review the terms and conditions of the loan to ensure it matches your startup’s financial needs and objectives.

Further Essential Considerations for Startups

Take the following into account when pursuing inventory financing: 

Interest rates and terms

The rates and terms will depend on the lender, the liquidation value of the inventory, the borrower’s creditworthiness, and the overall financial health of your business.

Generally, inventory financing has higher interest rates than traditional funding due to the lender’s increased risk. It’s usual for inventory financing rates to be between 13% to 19% or even exceed 20%.

Loan amounts

Due to the associated risks and potential depreciation, lenders usually provide loan amounts worth 50% to 80% of the inventory’s liquidation value. This might be less than its initial purchase price​. In addition, some lenders impose significant minimum loan requirements (the smallest amount a lender is willing to lend) due to the steep setup costs.

Other costs

Be aware of these various expenses beyond just the loan interest: 

  • Loan application fees
  • Inventory appraisal fees 
  • Early repayment
  • Late fees
  • Origination fees (for processing a new loan application)
  • Costs related to inventory risk, such as shrinkage (loss of stock), inventory theft, administrative errors like lost goods or misplaced shipments, and product value depletion for items stored too long​​
  • Storage costs for renting warehouse space, utilities, and material handling ​

Navigating the complexities of inventory financing can be daunting. But what if we told you it’s possible to enjoy the benefits of this financial solution and still keep things simple? This is where Kickfurther can help. 

Why Kickfurther?

Kickfurther isn’t your typical inventory financing—it’s an innovative solution that takes things up a notch. With us, you can experience a more growth-focused approach to inventory financing for startups. Here are the advantages of partnering with us: 

  • No immediate repayments – Do not pay until your product sells. Other providers may debit your account daily as part of a repayment schedule, and loans require repayment before your sales cycle has even begun. With Kickfurther, you set your repayment schedule based on what works best for your cash flow.
  • Non-dilutive – We do not require equity in your business to access inventory funding.
  • Not a debt – This is not a loan, so it does not put debt on your books, which can sometimes further constrain your working capital/access to capital and lower VC valuation.
  • Immediate access to capital – You need capital when your supplier payments are due. Kickfurther can fund your entire order(s) each time you need more inventory.

Kickfurther puts you in control of your business while delivering the costliest asset for most brands. By funding your largest expense (inventory), we help you free up existing capital to grow your business wherever you need it—product development, advertising, adding headcount, and more.

Don’t let the usual constraints of traditional inventory financing hold you back. Secure the flexible funding you need with Kickfurther with these easy steps:  

  1. Create a free business account.
  2. Complete the online application. 
  3. Review a potential deal with one of our account reps to get funded in minutes.

For streamlined and responsive inventory financing that fuels growth, join Kickfurther. Get started today and take your business to the next level!

Benefits of Being a Woman-Owned Business

Posted on by Kaylyn Perry

To say it’s been a challenging few years for women-owned businesses, and small businesses in general,  is an understatement. The impact of Covid-19 on female business owners caused and left lasting impacts. With the number of women-owned small businesses decreasing by 25% in the early stages of the pandemic, impacts are still being felt. 

Today, 42% of all U.S. businesses are owned by women (13 million), employing over 9.4 million workers. With an estimated 849 new women-owned businesses opening every day, women are fighting to earn their share of the market back and survive the pandemic.. To help product businesses scale, inventory funding is available – and it doesn’t have to cost so much that profitability takes a huge hit. Read on to learn more about the benefits of being a woman-owned business and resources available.

What are the pros and cons of owning a business as a woman?

Business owners, regardless of gender, face pros and cons. Women in particular though, may face a targeted set of pros and cons. Let’s take a look.

PROS

  • You are the boss. Being your own boss means ultimate flexibility and control.
  • Ability to meet family demands and needs personally and financially.
  • Full control over your present and future career. As a business owner, you lay the roadmap and invest time where it’s most suitable. 
  • Strong Emotional Intelligence. Studies have proven that female business owners demonstrate a high Emotional Intelligence score. This means you have the ability to better understand your own emotions and guide others.
  • Support is all around. From family members to friends to networks specifically geared towards female entrepreneurs, there are many support systems to help you succeed. 

CONS

  • A lot of responsibility is associated with being your own boss which can be burdensome. Remember, as a business owner, there’s no paid time off per say. Before starting a venture you should be confident and comfortable with managing time, making decisions, exploring new things, and getting help when needed.
  • Personal and family needs may suffer. It’s important to draw boundaries as a business owner. Your family and personal needs should remain a priority – even though you’ve put your blood, sweat, and tears into your business. 
  • Risks may increase as a paycheck every so  often depends completely on your efforts. 
  • Self motivation can be a struggle, but is necessary for success.

Top benefits for women based business owners

Minority businesses are recognized, and while women are not typically considered as a minority, they are considered by some as a disadvantaged group. In pursuit of supporting more women–owned businesses, consumers often search for or favor them. Getting certified as a women-owned business can help you take advantage of more benefits such as the following.

  1. Gain a competitive advantage. Government entities and other companies often seek women-owned businesses to work with. Registering as a women-owned business can increase your visibility, thus giving you an advantage. At least 5% of all federal contracting dollars are invested in women-owned small businesses. Plus, private companies can get tax breaks for working with women-owned businesses.
  2. Increased access to educational and networking opportunities. Mentorship opportunities are available for women-owned businesses with a WOSB or WBE certification. Other opportunities can include invites to annual summits, webinars, networking functions, and so forth.
  3. Lead generation. Leads are important, as is word-of-mouth. While creating a reliable reputation for your business is critical, certifying your business can allow you to submit bids for government contracts, thus increasing your business potential and earning. Businesses that obtain WBE certification can also access a database of Fortune 500 companies that may be interested in supplier diversity.

How to get certified as a woman based business owner

You may want to certify your woman-owned business to get more access to private and government contracts. There are three types of certificates you can obtain, including:

#1. Women-Owned Small Business (WOSB) program

 To be eligible for the WOSB program, a business must:

  • Must qualify as a small business under the definition set by the SBA size standards
  • Minimum ownership requirement of 51% female who are U.S. citizens
  • Women must manage day-to-day operations and be involved with long-term decisions

#2. Economically Disadvantaged Women-Owned Small Business (EDWOSB)

To be eligible for the EDWOSB program, a business must:

  • Meet requirements (see WOSB program requirements for details)
  • Minimum of one woman owners with a personal net worth of $75,000 or less. If there is more than one female owner, all must meet requirements.
  • Minimum of one woman owner with $350,000 or less in adjusted gross income based on previous three years. If there is more than one female owner, all must meet requirements. 
  • Minimum of one woman owner with $6 million or less in personal assets. If there is more than one female owner, all must meet requirements.

#3. Women’s Business Enterprise (WBE)

 To be eligible for a WBE certification, a business must:

  • Must be a for-profit organization located in the U.S.
  • Ownership must be 51% female, or a group of women, but for an inheritance,  contributed a proportionate amount of capital to gain ownership
  • If there’s a governing board, it must be controlled by one or more women
  • Top executive officer must be a woman and must have technical expertise in the firm’s primary business function
  • All female business owners must be legal residents or U.S. citizens

To apply for the WOSB or EDWOSB certifications, it’s free. You can apply directly through the U.S. Small Business Administration’s (SBA) website. You will need the following:

  • Active registration in the System for Award Management.
  • Birth certificates, naturalization papers or unexpired passports for each female business owner.
  • Articles of organization/incorporation, partnership or joint venture agreements, voting agreements, and any amendments to specified documents.
  • Issued stock certificates  and stock ledger.
  • Assumed/fictitious name certificate.
  • For EDWOSB, your three most recent personal tax returns will be required. Include W-2s and all schedules for each woman business owner and her spouse.
  • For EDWOSB you will need an IRS Form 4506-T, Request for Tax Transcript for each woman business owner and her spouse.

To apply for WBE certification, the application fee and re-certification fees are the same based on the company’s revenues ranging from $350 to $1,250 (certificates last for one year). There is also a scholarship fund for first-time applicants with under $500,000 in revenue. You will need the following:

  • Commercial tax returns for 3 previous years
  • Financial statements corresponding to tax returns listed above
  • Debt instruments
  • Commercial bank signature authorization card and corporate banking resolution
  • Proof of capital and/or equity investment by female owners
  • Employee list
  • Most recent employee payroll
  • W-2’s and/or 1099 forms from every owner, officer, or director
  • Written business history
  • Professional or local business licenses if applicable
  • Resumes of all owners, directors, and key personnel
  • Proof of gender
  • Proof of Citizenship or legal residency
  • And more… 

Do grants for women owned businesses exist?

Yes! There are several grants available to women-owned businesses. Below are some examples:

  1. Launch program  
  2. Visa’s She’s Next program 
  3. Amber Grants
  4. SBIR & STTR programs
  5. Ms. Foundation for Women  
  6. Cartier Women’s Initiative Award 
  7. GrantsforWomen.org

Are there tax benefits to being a woman-owned business?

Yes. If you’re looking to hire employees, tax credits are available. The Work Opportunity Tax Credit allows a credit against your business income tax up to 50% of wages when hiring from populations such as former state or federal assistance recipients, ex-offenders, or veterans. Maximum wages will vary depending on the targeted group, with a range of $6,000 – $24,000 per annum.

Also, if you are a minority business in a low-income area, you can qualify for the New Market Tax Credit (NMTC).

Tips to qualify as a woman based owned business

Our best tip is to make sure you at least meet the basic requirements, which include the following:

  1. Must be at least 51% owned and controlled by women who are U.S. citizens
  2. Have women manage day-to-day operations who also make long-term decisions

Other resources for women entrepreneurs

If you’re looking for good guidance, consider reaching out to a mentor. Some places that you can find a female mentor include:

  • Ladies Get Paid
  • 27 Angels
  • BOSS
  • Women Who Startup
  • Female Founders Association
  • Lean In Network
  • Awesome Women Entrepreneurs

If you’re looking for funding, you may be surprised – or not – that only 16% of small business loans go to women entrepreneurs. Places to look for funding include:

  • The SBA’s Office of Women’s Business Ownership
  • Entrepreneurial Winning Women
  • Female Founders Fund
  •  SoGal Ventures
  • The Tory Burch Foundation
  • Women’s Venture Fund
  • Women Who Startup
  • Kickfurther

How Kickfurther can help

Kickfurther funds up to 100% of your inventory costs on flexible payment terms that you customize and control. With Kickfurther, you can fund your entire order(s) each time you need more inventory and put your existing capital to work growing your business without adding debt or giving up equity.

Why Kickfurther? 

No immediate repayments: You don’t pay back until your new inventory order begins selling. You set your repayment schedule based on what works best for your cash flow. 

Non-dilutive: Kickfurther doesn’t take equity in exchange for funding.

Not a debt: Kickfurther is not a loan, so it does not put debt on your books. Debt financing options can sometimes further constrain your working capital and access to capital, or even lower your business’s valuation if you are looking at venture capital or a sale.

Quick access: You need capital when your supplier payments are due. Kickfurther can fund your entire order(s) each time you need more inventory.

Kickfurther puts you in control of your business while delivering the costliest asset for most CPG brands. And by funding your largest expense (inventory), you can free up existing capital to grow your business wherever you need it – product development, advertising, adding headcount, etc.

Closing thoughts

Overall, you can see that there are many benefits to being a women-owned business. Not only are there unique funding opportunities for female entrepreneurs, but there are also large support networks and plenty of fans. But, being an entrepreneur is not easy, in fact 70% of new businesses fail to keep their doors open more than five years. However, now that you know about the many creative funding opportunities like grants and Kickfurther, you will give yourself a leg up on the competition and increase your chances of being the 30% that make it over the long-term. Knowledge is power; and you now have more power than ever to make your dreams turn into reality!

Interested in getting funded at Kickfurther? Here are 3 easy steps to get started:

#1. Create a free business account

#2. Complete the online application 

#3. Review a potential deal with one of our account reps & get funded in minutes

Learn more about inventory financing options for women entrepreneurs from Kickfurther.

How to Build a Pinterest Marketing Strategy

Posted on by Pavel

Pinterest marketing is a social media marketing strategy that involves using the Pinterest platform to promote your business or brand. Pinterest is a visual discovery platform that allows users to discover and save ideas, images, and videos on virtual boards. With over 400 million monthly active users, Pinterest offers businesses a powerful tool to reach and engage with potential customers. The platform is particularly effective for businesses that have visually appealing products, such as fashion, food, home decor, and beauty items. Successfully marketing on Pinterest can significantly increase demand for a company’s products and cause business owners to seek inventory financing. This is where Kickfurther can help. 

Inventory is often a businesses largest expense and for most businesses, it presents a major cash flow dilemma. Kickfurther funds up to 100% of your inventory costs on flexible payment terms that you customize and control. With Kickfurther, you can fund your entire order(s) each time you need more inventory and put your existing capital to work growing your business without adding debt or giving up equity. By combining Pinterest marketing with funding from Kickfurther, your businesses can not only increase their visibility and drive traffic to your website, but also secure the funds your business needs to grow inventory and expand operations. 

Interested in marketing your products on Pinterest? Here’s what you should know. 

What is Pinterest marketing?

Pinterest marketing is a form of social media marketing that involves using the Pinterest platform to promote a brand, product, or service. With Pinterest marketing, businesses and individuals create a presence on the platform, and then use the platform’s features to connect with their target audience, build brand awareness, and drive traffic to their website. This can involve creating visually appealing pins, boards, and accounts that showcase a brand’s products, services, or values. Some common tactics in Pinterest marketing include optimizing pins for search, engaging with followers, collaborating with other users or brands, and using paid advertising options like Promoted Pins. Additionally, businesses can use Pinterest analytics to track engagement metrics and improve their strategies over time.

Benefits of using Pinterest for marketing

Pinterest is a powerful marketing tool that can help businesses increase online visibility, connect with potential customers, and ultimately drive traffic and sales. There are several benefits to using Pinterest for marketing, including: 

  • Increased visibility: Pinterest is a highly visual platform, and its search feature makes it easy for users to discover new content. By optimizing your pins for search and using relevant keywords, you can increase your visibility and reach a wider audience.
  • Targeted audience: Pinterest users tend to be highly engaged and actively searching for inspiration and ideas. By creating content that resonates with your target audience, you can connect with potential customers and build brand awareness.
  • Drive traffic: Pinterest is a great platform to drive traffic to your website. By including links in your pins, you can direct users to your website and increase your chances of generating leads and sales.
  • Brand awareness: By creating visually appealing pins and boards that showcase your brand, you can increase your brand awareness and build a loyal following.
  • Collaborations: Pinterest allows businesses to collaborate with other users or brands. By collaborating with other businesses or influencers, you can reach a wider audience and increase your credibility.
  • Analytics: Pinterest provides businesses with a range of analytics tools that can help you track engagement metrics and refine your strategy over time.

Most important Pinterest Objectives

By setting clear objectives and tracking metrics, businesses can use Pinterest to achieve their marketing goals and ultimately grow their business. The most important objectives for a business using Pinterest marketing may vary depending on the specific goals of your  business, but some common objectives include:

  • Impressions: Impressions refer to the number of times a pin is displayed to a user. Increasing impressions can help businesses increase their brand awareness and reach new potential customers.
  • Clicks: Clicks refer to the number of times users click through to a website from a pin. By optimizing pins to drive clicks, businesses can increase traffic to their website and potentially generate leads and sales.
  • Links: Link clicks specifically refer to the number of times users click through to a website from a pin that contains a link. By driving link clicks, businesses can increase the chances of generating leads and sales.
  • Closeup views: Closeup views refer to the number of times users click on a pin to see it in more detail. By generating closeup views, businesses can increase the chances of users engaging with the pin and potentially clicking through to their website.
  • Saves: Saves refer to the number of times users save a pin to one of their boards. By increasing saves, businesses can increase their brand visibility and potentially drive more traffic to their website.
  • Encourage user engagement: User engagement refers to actions taken by users, such as commenting, liking, or sharing pins. By encouraging user engagement, businesses can build a community on the platform and increase their brand loyalty.

Tips for a successful Pinterest marketing strategy

Pinterest can be a powerful tool for your business  to reach and engage with your target audience. Here are some key steps to successfully use Pinterest as a marketing strategy:

  • Educate consumers: Use your Pinterest account to educate your audience about your products or services. Create content that showcases how your products or services can be used and how they can benefit the consumer. This can help build trust and credibility with your audience.
  • Drive traffic to your website: Use Pinterest to drive traffic to your website by including a link to your website in each pin. You can also create pins that showcase specific products or services and link to a landing page where consumers can learn more or make a purchase.
  • Utilize keyword-rich descriptions: Use relevant keywords in your pin descriptions to optimize them for search. This can help your pins appear in relevant search results and increase your visibility on the platform.
  • Use high-quality images: Use high-quality images that are visually appealing and on-brand. This can help your pins stand out and increase engagement with your content.
  • Collaborate with other brands and influencers: Consider collaborating with other brands or influencers on the platform to expand your reach and attract new followers. You can collaborate on content creation or cross-promote each other’s content.
  • Create engaging content: Use your Pinterest account to create engaging content that resonates with your audience. This can include DIY tutorials, inspirational quotes, or lifestyle content that aligns with your brand values.

Incorporating these tips into your Pinterest marketing strategy,  can create a strong presence on the platform, attract new followers, and drive traffic to your website. 

How to measure success of Pinterest marketing efforts

Measuring the success of your Pinterest marketing efforts is essential to refining your strategy and achieving your marketing goals. To measure marketing efforts, you can use Pinterest Analytics, which provides businesses with a range of data and insights about their account, audience, and content performance. By tracking key metrics such as impressions, clicks, close-up views, referral traffic and engagement rate, you can improve your effectiveness on the platform and utilize the exposure to increase product sales. 

How Kickfurther can help

Has your success with Pinterest marketing left you struggling to fund inventory to keep up with demand? Kickfurther is here to help. By helping with inventory funding, Kickfurther can help manage your largest expense (inventory) and put you in control of your business. As a direct result you can free up existing capital that you can utilize to grow your business while simultaneously stocking enough inventory to never miss out on a sale. 

Kickfurther funds up to 100% of your inventory costs on flexible payment terms that you control. Kickfurther’s unique funding platform can fund your entire order(s) each time you need more inventory, so you can put your capital on hand to work growing your business without adding debt or giving up equity.

Why Kickfurther? 

  • No immediate repayments: You don’t pay back until your product sells and you control your repayment schedule. 
  • Non-dilutive: Kickfurther doesn’t take your equity.
  • Not a debt: Kickfurther is not a loan, so it does not put debt on your books, which can sometimes further constrain your access to additional capital providers and diminish your valuation if you approach venture capital firms.
  • Quick access: You need capital when your supplier payments are due. Kickfurther can fund your entire order(s) each time you need more inventory.

Closing thoughts

Successfully marketing your business products on Pinterest can provide a unique set of challenges alongside tremendous opportunity. As your product gains exposure and demand increases, maintaining working capital can be difficult while attempting to fulfill a growing number of orders. By offering inventory on consignment, Kickfurther provides inventory funding that can free up the working capital necessary to keep growing and expanding your business. Founded by an entrepreneur, Kickfurther vouches to help entrepreneurs keep costs down when securing funding through our platform. Compared to other options, Kickfurther is up to 30% cheaper. Partnering with Kickfurther is proven to help businesses thrive and focus on doing what they love. 

Interested in getting funded at Kickfurther? Here are 3 easy steps to get started:

#1. Create a free business account

#2. Complete the online application 

#3. Review a potential deal with one of our account reps & get funded in minutes

The Ins and Outs of Marketplace Expansion

Posted on by Kaylyn Perry

Online retail is only getting bigger every year. In 2023, global eCommerce sales were worth 5.8 trillion U.S. dollars. This is promising for online retail businesses, which can generate serious revenue by selling online products.

If you own a successful eCommerce business, you may wonder about your next steps. The first place you may look is marketplace expansion, but this strategy is more complex than it may seem. 

There are different types of business expansion, and the strategy you choose depends on your niche and buyer demand.

What Is Market Expansion?

Marketplace expansion is the act of selling your items in a different market. Businesses reach this point when they fulfill all goals and needs in their current market and are looking to expand their business further.

Market expansion can accomplish numerous goals. For example, businesses have the opportunity to generate more revenue and brand awareness.

This strategy brings many rewards but also comes with its risks. When planning your strategy, businesses should identify the best opportunities and find the most reliable market expansion partner. 

Types of Marketplace Expansion

There are multiple directions a business can take during marketplace expansion. While marketplace expansion can vary due to niche and customer demand, most eCommerce stores use one or more of these strategies.

Retail

Retail is one of the first options for a market expansion strategy. Let’s say you sell your products on one marketplace, such as Amazon, you may decide to expand to Walmart. This is an easy way to increase sales, widen your reach, and take advantage of another platform’s benefits.

Before expanding to a different retail platform, ensure you never signed an exclusivity agreement with your current marketplace. If you never did, you’re free to sell your products elsewhere. It’s still best to conduct research before selling in a new marketplace to ensure your business remains competitive while still attracting your target audience. 

Product

There are a couple of ways to go about a product expansion. The most obvious answer is adding new products to your inventory. But brands can also embark on a product expansion strategy without adding anything new.

close-up of a woman applying hand cream

For some brands, a product expansion encompasses new ways of advertising their items. This can include highlighting different features of an existing product or adding new graphics. 

By changing a product’s advertising, you not only increase awareness but engage existing customers.

Another common market expansion example is revamping a current product. Some brands may even add additional perks to an existing product, such as better insurance or warranties.

Geographical

Many eCommerce businesses look to geographical expansion when they want to attract new customers and gain more sales. While the internet may help us connect to a global user base, logistics issues can cause hurdles when buying internationally. 

There are numerous resources for brands to sell their items in different countries, such as Amazon Global Selling. But before expanding internationally, businesses must sell in countries with both an opportunity and demand. 

Brands will also need to consider certain best practices, such as language, legislature, and advertising. Ecommerce companies must also look into logistics, such as supply chain management and local warehousing and shipping. A global accelerator service can help with all these tactics.

Vendor and Supplies

Marketplace expansion can also include working with new vendors, such as suppliers and wholesalers. 

This can result in market growth for various reasons, such as the ability to offer new products or increase supply chain efficiency with remote fulfillment. Working with new or varied suppliers can also produce better product quality or more variety.

warehouse racks with boxes

When Should You Expand Your eCommerce Business?

Even if your brand and products are successful, timing is everything regarding marketplace expansion. Here are signs that you’re ready to expand your eCommerce company.

You Have the Funding

Even if your business generates impressive sales, you shouldn’t expand your company unless you have the capital. 

Depending on your expansion type, you’ll need funds to create new products, reinvent existing ones, hire new employees, and for advertising/marketing. There’s also the risk that your strategy will fail, so having leftover funds will ensure you can keep your business afloat.

Businesses can always receive funds in the form of working capital, inventory funding, and more.

You’re Behind the Competition

If your competitors are launching in a new market, this is a good sign you should follow suit. For example, maybe you see your main competitor is expanding to a new country, so you can start putting an international seller plan together. 

When you don’t keep up with the competition, you risk getting left behind, so it’s vital to always keep up with your competitors.

Supply and Demand Impacts

If sales are increasing and your customers continue returning, this is a sign you need to invest in your product strategy. The way you approach this strategy depends on consumer demand. For example, if you’re expanding your product catalog, it’s a good time to find new suppliers.

Need to Scale Your Business

Your marketplace expansion may not always be about making more money, keeping up with the competition, or satisfying consumers. Marketplace expansion offers many benefits, including the ability to scale your business model. 

If you’re concerned about your current strategy, investing in a scalable supply chain solution or changing your retail marketplace makes sense.

Tips When Creating a Marketplace Expansion Strategy

If you think marketplace expansion is right for you, you’ll first need to ensure your strategy is successful.

Analyze the Competition

Before choosing the best marketplace expansion strategy, conduct research to see what your competitors are doing. 

Determine their marketplace strategy and if they’re generating results. If they’re attracting a larger audience and generating more sales than you, it’s best to implement their tactics into your strategy. 

This will not only improve your chances of increased brand awareness and revenue, but will also make you a more competitive business. 

Conduct Market Research

In addition to analyzing the competition, you’ll want to know what your customers want. 

Research your market and what they’re demanding from you. This can offer several tactics: you can think of a new product idea, expand your retail platform, try cross-border eCommerce, or improve your current inventory. 

Customer research not only ensures marketplace expansion success, but you can make better business decisions and avoid any potential losses. 

Invest in Marketing and Advertising

Marketing and advertising is a key factor in generating more online sales. The right marketing and advertising strategies can also help ease you into your marketplace expansion. 

For example, let’s say your business expanded your inventory. You can promote this on social media to engage your current audience and attract new buyers. 

Certain expansion tactics, such as selling on a new marketplace, will require a marketing overhaul. For example, if you were selling on Amazon and are now also selling on Walmart, you’ll need to apply Walmart SEO tactics to your listings.

Take Advantage of Various Marketplaces

An easy way to accomplish different expansion techniques is by taking advantage of different marketplaces. While Amazon is a major player, they’re not your only option. Some other platforms you can sell on include:

All of these platforms let you take full control of your listings. You can write your own product descriptions and upload media. Many marketplaces also offer tools where you can manage your inventory and listings.

Create a Successful Marketplace Expansion Strategy

As a successful online retail brand, it may be difficult to know your next move. Marketplace expansion is usually the answer for most businesses. 

You can expand your business by retail platform, inventory, product development, geographical location, and even by vendors. 

Before creating your expansion strategy, analyze the competition, conduct market research, invest in marketing and advertising, and look into different retail platforms.

How to obtain financing for your Skincare brand

Posted on by Pavel

Skin care brands often pursue financing as a means of growth. With the beauty industry booming, we’re here to support your dream while improving the lives of your customers. Here’s what you should know about financing for skin care brands. 

What are the common financing options available for skin care brands?

Skin care businesses can come in many forms. From online storefronts run out of one’s home to nationwide retail corporations. Here at Kickfurther we focus on small businesses so we will tailor our best advice to what we know and do best. Small businesses can encounter a unique set of challenges when it comes to financing, and for that matter, operations in general. As a small business owner you know how important creative solutions are. When it comes to inventory we have an innovative solution to make funding affordable. but you may need financing for other activities too. 

Do you do more than skin care? Learn more about the umbrella of beauty business inventory financing. Plus, you can access the types of financing listed above as they are not exclusive to skin care businesses. 

Benefits of financing for skin care brands

Skin care businesses boast relatively low cost of goods sold, creating opportunity to have a high ROI per unit. However, as with most CPG brands (consumer packaged goods) there’s a lag between sales and accounts receivable. The downstream impact of this is a cash flow battle. How do you keep up with operations and stocking inventory without dipping too low (or negative) on cash? How do you invest more in growth while keeping up with the current state? One way to accomplish this and more is to utilize financing. In a nutshell here are some high level benefits of financing for skin care brands.

  • Invest more in marketing, packaging, and other activities that will grow your brand 
  • Increase staff so you can provide better customer service 
  • Stock more inventory to keep up with growing sales
  • Perform more research and development to better meet the needs of consumers 
  • Expand your business 

The common theme of all of these benefits is the opportunity to grow. You’re an expert at glowing skin, share that passion with the world and reflect the same glow on your business. 

How do I determine the amount of financing needed for my skincare brand?

Determining how much financing needed can be a complicated metric, as nothing will likely ever seem like enough. The idea of more cash can inspire a whole revolution of ways to grow your business that you’ve only dreamed of becoming possible. With that being said, we recommend strategizing exactly how the funds will be used. From there it can be easier to define the appropriate amount. You should also consider how the funds are to be repaid as this can support what you can afford to borrow. When you think about how much money to borrow you want to think long-term and in growth mode, but you always want to ensure you don’t take on more than you can handle. 

Can I obtain financing if my skin care brand is a startup or in the early stages?

Small businesses, particularly in the startup or infant stages, can struggle to obtain financing. Most lenders and even alternative sources will want skin care businesses to meet a set of minimum requirements. If you have established sales, which you may as a startup or new business, you can have a better chance at qualifying. At Kickfurther we work with skin care companies that have a minimum of $400,000 or more in trailing 12 months revenue. This does not mean you need to be in business for 12 months though, but rather we will review a 12 month snapshot – whatever that consists of. We consider net sales which we define as gross sales minus returns. fees, allowances and discounts. 

Are there specific financing options available for eco-friendly or sustainable skincare brands?

A round of applause for skin care brands prioritizing the environment and health of humans. While some sources may be more enticed to lend to a brand with relatable values, you can access the same financing options as other skin care brands. Alternatively there may be grants available that focus on skin care brands that are eco-friendly and or sustainable. 

How can I increase my chances of securing financing for my skincare brand?

To increase your chance of securing financing, work with the right partner. Before applying, invest the time into understanding the requirements you’ll need to meet to qualify. Preparing for financing is equally as important as choosing the right financing option. 

What are the potential challenges or obstacles when trying to secure financing for a skincare brand?

There are two main potential challenges:

  1. Meeting the requirements
  2. The cost

At Kickfurther we aim to help you around both of these challenges for inventory financing. With our creative funding solution, you can say so long to the complicated traditional business loan application process and tap into that creative side of yours. Create an online profile that allows our community of backers to buy into your mission with you. In financing, there is a way for both parties to win. At Kickfurther, our funding solutions are up to 30% cheaper than comparable options. 

Are there any alternative financing options specifically tailored for skin care brands?

Alternative financing options seem to be a lifeline for small businesses, including skin care brands. From crowdfunding to Kickstarter, you’ve probably heard of plenty alternatives. As a business owner though, you’re busy – we get it. There’s a lot to be aware of with alternative means of financing. If traditional methods of financing aren’t playing on your team, consider our alternative for inventory funding. It’s straightforward and designed by small business owners for small business owners. No double edged sword here. 

Our value proposition is simple. . .

  • No immediate repayments. You control repayment. Don’t pay until your product sells.
  • Non-dilutive. Maintain equity in your business, we know how hard you worked for it. We are here to work with you, not against you. 
  • Not a debt. Because you have enough financial strain, this is not a loan. 
  • Upfront capital. Pay suppliers faster with upfront capital, there when you need it! 

How Kickfurther can help

Kickfurther funds up to 100% of your inventory costs on flexible payment terms that you customize and control. With Kickfurther, you can fund your entire order(s) each time you need more inventory and put your existing capital to work growing your business without adding debt or giving up equity.

Why Kickfurther?

  • No immediate repayments: You don’t pay back until your new inventory order begins selling. You set your repayment schedule based on what works best for your cash flow.
  • Non-dilutive: Kickfurther doesn’t take equity in exchange for funding.
  • Not a debt: Kickfurther is not a loan, so it does not put debt on your books. Debt financing options can sometimes further constrain your working capital and access to capital, or even lower your business’s valuation if you are looking at venture capital or a sale.
  • Quick access: You need capital when your supplier payments are due. Kickfurther can fund your entire order(s) each time you need more inventory.

Kickfurther puts you in control of your business while delivering the costliest asset for most CPG brands. And by funding your largest expense (inventory), you can free up existing capital to grow your business wherever you need it – product development, advertising, adding headcount, etc.