Take out a business loan to increase followers on social media, stupid or not?

Wasn't there a women who made like $1,000,000 selling kids clothes or something from a Facebook page?

EDIT: Think this is the article.
http://www.inc.com/magazine/201406/t...ook-sales.html

Paying for followers will not increase revenue. Just the perception of your followers size by real people. This doesn't necessarily mean more money in your pocket. If you want followers you have to work for them.

Man, I would rather use the money for better marketing ideas such as a sponsored post on social media, SEO and probably some local ads.

Hell man, if you believe in yourself then go for it.

I wouldn't do it though..

TIP: I don't know if you got a blog or not, but you should definitely record your experience into a blog post.. That would make some awesome content. "How an Internet Marketing Rockstar Took a $3,000 Bank Loan To..."

Best of luck,
Ike Paz

Pay for traffic that converts, not followers.

I would recommend find a partner, or investor ( if you believe you got something that can lure investors ), can be even friends or family, I have been doing online marketing for along time, I don't ask for money, yet thanks to lousy banks ROI, once a friend or family member has money to invest, they ask me to either invest it or help them figure a way to invest it online.

Of course there is a risk with that, but I tend to invest on the safest ideas when i choose to invest for them.

hey there


How about this for an idea?


Pay someone to create a killer fan page for your business!


send some paid traffic to that!


Collect emails and then make multiple sales from your funnel!


Keep it simple!

Bleu,

This is what I would do (and a good reminder to myself) taking advise from folks who I see as authority.
From billionaire Mark Cuban, goes something like
"Never take a business loan to start your business because you don't want the surest thing to be the loan payment." Borrow from friends and relative.

From Tai Lopez and Gary Vee, "Patience".
If you have $3 make $6 from it. Invest it all back. Then keep rolling. Slow but you will eventually get there and with the success and determination, I am sure friends and relative would even sell their car to help you out! How much are you looking for anyways? ;-)

So borrow small from friends to get a jumpstart or even get a side gig going etc. to make the extra income instead of getting a loan. Cause if you really sell, you are essentially sharing your profits with the bank. Your friends/family are there to just help you and likely will not expect a return on investment (a side benefit to keep more ;-)

Hope this helps.

Don't do that, followers don't equal profit. I'll be glad to help you create a marketing plan to grow your business.

Don't do that. If you've got a decent product, just keep chipping away. Reinvest your $ and build on it. Don't go into immediate debt for no immediate results.

My advice don't do it.
Even if you know how to get target follower, the result would not be immediate and long term profit are also not that certain.

It would be an unnecessary risk for your business.

I like the idea about personal blog and its advertising. I do not know how many money you can spend on it without loan but I think you have enough. I do not support the idea about loan exactly for such kind of advertisement. But everything depends on calculations. What is the kind of your business, what is its size, what is your goals in figures, etc.

If you are intesting 3$ per day, an getting return, if you invest 30$ per day, there is not guarantee you will get 10 times more return. Investing should be slow. Make it 6$ per day and see, how it goes, if goes well, than from earned funds invest like 10$ oer day and so on.

What did you do with the money from the sales?

The $3/day ad spend doesn't make sense. If you have sales you should be putting every cent back into ads to build the business....into ADS, not into "followers".

Taking out a business loan isn't a simple process and if you only have $3 a day for your business, you can't afford to take out loans.

Nothing like a "loans in Bangalore" spammers to brighten up a thread, is there?

Absolutely not.

Why encumber yourself with debt that isn't necessary?

Regardless of how you see it . . . what you're trying to do is buy your way into faster success with borrowed capital and that is not a sound business practice.

Not only that . . . asking random people on a public forum how you should be spending your business capital is foolhardy (95% of whom make no money in their business).

Develop a simple but sound marketing plan for your business and work it hard. If you feel like you have to spend money, do it on a very small scale with your own funds, test and track results, and only ramp up the amount you are spending once you have optimized your profitable campaigns. It's a much smarter approach to growing your business.

Steve

Absolutely. Get as big a loan as you can get. It takes money to make money.
You can do it man.*

GordonJ

* In my very best Rob Schneider voice as if yelling to one of the Adam Sandler's idiot characters.

Good luck getting a business loan for a business with a $3/day ad budget. I can hear the loan officer laughing from here. Especially when you tell them that the purpose of the loan is to "buy followers".

If you insist on borrowing money, your best bet is the three F's - Friends, Family and Fools.

You'd be better served to find a part time or seasonal gig, save the money you make, and start with a real budget without the pressure of making loan payments. You do realize that any lender will expect you to pay back the loan - with interest - don't you?

On the other hand, if all you want is a pat on the head and permission from strangers, here you go...


(Thanks for the idea, Gordon...)

IMHO - That is an absolute no. How do you calculate an ROI on followers on social media? I know folks who have millions on followers but have very little conversion. Don't do it.

Getting a business loan to buy followers is a bad idea. I have been a Business Loan Broker for over 10 years and have seen many Business Owners and Entrepreneurs borrow money without a solid plan or ability to repay.

I have seen other borrow for an adwords campaign or forms of marketing: print, TV, radio etc with success. Buying followers on Facebook is not the best route to use when thinking of incurring debt.

Pre-sell your inventory using platforms like Constant Contact. It's basically like doing a DIY Groupon. If the offer is strong enough, expect it to sell well and expect 20% to NEVER ever redeem it!

bleu, Interesting topic -

Business is all about gauging the risk in 360 degree. If their is an opportunity and interest from a investor than yes. But if you want some one else money to invest to purchase more eyeballs then the whole game changes.

Remember every loan comes with 'interest' and normally business man end up in paying more than he / she thought.

So "focus" on your product and service more ... rest all will keep coming.

I don't think that it would be a sensible move on your part to take a loan just to increase followers on social media. What if you are unable to achieve your desired number. I manage my own business page and what I have learned that if you try too hard on facebook, users get suspicious and you may lose your credibility. Let your page be slow and steady and it will gain reach on its own.

It's pretty risky. Before you think about this plan look over for some actual free of cost avenues. Start a blog on the side or utilize sources like Pinterest for your business advertisement.

Cheers-James

I think this would be a mistake, you can take some time out of every day and follow over 500 people that are related to the Niche you have. Many will follow back voluntarily and then you can grown your base. On the other hand, if you are trying to just get a quick follower boost to help make your site or business more reputable, you can use sites like https://instagratz.com

If you know what you are doing maybe it's not a horrible idea.

I look at it this way; Marketing is not an expense, it is an investment!

If you can make money from an investment then go ahead and don't be afraid to take the risk!

Whatever you choose I wish you well!

Here is what a lot of people are still missing.

You have done something before that works. It's only wise to repeat the process in a bigger way.

Sit down and track where your sales came from, particularly the source or type of traffic.
If you can get this right then you will be able to write your own income check in no distant future.

The scary part of this all is, the loan approach. It can make you or mar you.

I don't know how much you intend to borrow. It pays to do due diligence and get your facts right.

Lastly, you may just want to save and promote your business when you are ready.

All the best.

I wouldn't do it as going deep into dept is the best way to delay your being successful as you'll be too busy working two jobs to pay off the debt to invest in your business. And most people who sell followers are selling fake accounts with no real person behind them so if you did buy junk followers you'll see your numbers grow but when Instagram or Facebook or whomever purges those accounts your following will go back down to where it was the only difference is you'll be in debt and back to square one.

The only place I trust to buy followers is from these 2 sites:
wedofollowers.com - this person has loads of his own accounts with access to many millions of followers and also has a bunch of Instagram accounts I have seen with many millions of followers.

buysellshoutouts.com - I trust this site also and the one below:
igshoutouts.com - I don't think they sell followers outright but they sell shoutouts.

I myself have been using Instagress for Instagram and have been adding approx 5000 followers to each of my Instagram accounts I have set up with them for just $9.99 per month per Instagram account. So you can use Instagress to get say 10k followers and then you can supplement your efforts by doing shoutout for shoutout which is free and is similiar to adswaps in email marketing. For that you can use sites like - shoutoutpost.com and this is for Instagram. For Twitter I trust tweepi and have heard great things about them but I have never used them as I am big into Instagram right now and I don't use any tools for my business facebook right now.

You can buy shoutouts from Instagram and literally pay your way buy doing many shoutouts to a 100k following and then turn around and sell shoutouts yourself but this may take $2000-$5000 depending on the niche and cost per shoutout. People are using their Instagram accounts to basically do sponsored posts or in other words shoutouts/promos but everyone has wised up to the fact that they are in the advertising game which can be very lucrative so the cost of shoutouts has been steadily rising.

But I would never take a loan for followers not that you can. I would do what I recommend above by getting another part-time job or two and then when I start earning I can drop the part-time job but you never know how long it will take you to be very successful so taking out a loan would be a very big risk that will likely leave you in debt.