Did you know that your social media presence can directly impact your business credit?
We’re not just talking about your business credibility, brand, and conversion rates, or ability to develop new strategic relationships. VC firms like Google Ventures and credit score modeling entities like Fair Isaac (FICO) have made no secret of the fact that they have been tracking entrepreneur’s and company’s social media data for a while.
This now directly affects who gets access to funding and credit, who gets the best terms, and ultimately; which ventures and organizations have the best chances of success, and the best advantages on the playing field.
So what factors matter, and how can founders help their businesses get better funding?
The Social Data Lenders Are Looking At:
- How many social connections you and your business have
- Relevance of social connections
- Amount of engagement
- If they can use social data for collections if needed
- Trends which can predict business performance
- What others are saying about you and your business online
Savvy entrepreneurs and business owners are getting ahead of the curve to build up their social media and create ongoing proactive systems to maintain business credibility ahead of these trends and increasing weight of social media in capital markets.
5 Tactics For Supercharging Your Social Credit Ranking:
- Expand the number of social networks you and your brand are on
- Find new sources of business credit which play to your strengths
- Get serious about constant social media management
- Improve your social media profiles with professional custom headers and better SEO
- Connect with CreditRepairProgram.com Systems on Twitter, LinkedIn, and Google+