At Lendistry, we work to help small businesses grow, but we’re a small business, too. Collecting data, paying attention to what’s working and what isn’t, and being willing and eager to make adjustments keeps small businesses strong and flexible.
We are sharing what we learned last year so we can all grow and evolve for an even better 2018.
In 2017, we learned the importance of having the right people in the right seats. We have built a diverse TEAM to connect with all members of our local communities, which allows us to reach business owners in underserved areas.
In anticipation of gaining SBA approval, we added TEAM members who are experienced in SBA loans. Thanks to our TEAM adjustments, we can close an SBA loan in 21 days.
Tapping into the young viewpoint
Interns brought fresh ideas this year. Taking on young TEAM members and welcoming them into meetings brought valuable perspective. Because they are far removed from the business world and living in the largest growing demographic, interns in their early twenties helped us think differently and challenged us in a good way.
Based on analytics, we learned that 82% of our website traffic was coming from smartphones and other hand-held devices, not computers. We also learned that people didn’t linger on the site if they had to navigate to get where they wanted, so we made changes to our home page design to accommodate their expectations. We simplified it to make it more phone-friendly and put our simple application at the top to make what our users are looking for readily available and get the most out of their short visits.
We love to celebrate our new loans and the small businesses they support with social media squares. They respect the privacy of the businesses while also showing our followers what’s possible with funding.
Based on social media analytics, these squares are typically our most popular posts! So we’ll be posting more of them in 2018. Luckily, we have more and more partnerships to celebrate every month, so there won’t be a shortage of material.
What did you learn in 2017 that you’ll be putting into action this year?