product Archives - Canadian Small Business Women

Oct 11 2016

Don’t Do Marketing & PR… Until you can answer these 5 questions

Marketing & Public Relations (AKA PR) should be an important part of your outreach strategy. After all, PR is defined as interacting with your public, and you need to do that to communicate your brand message to your audience. If you’re not trying to communicate with your audience, you are relying too heavily on the “if you build it they will come” strategy. In a world of social media and other online channels as well as all of the visual and informational bombardment on a day-to-day basis face-to-face, there is too much noise in the marketplace to wait for someone to notice you. You need to initiate the connection.

It can be tempting to jump on the first opportunity you see to get your brand “out there” without thinking too much beyond that you just want people to see you. However, just because it is the latest and greatest idea doesn’t mean it is the right one for your business.

You have a lot of options available to you when it comes to marketing and PR. The challenge for you as a small business owner is to pick the right options that will give you the highest return on your investment (of time AND money!).

Here are a few things you need to get straight before you jump on that latest and greatest idea you came across:

What do you do? Be able to identify in detail what product or service you are selling.
Who would be interested in what you have to offer? When you can answer this question, you will have identified your target audience.
Why would your target audience want what you have to offer? This is an important step often skipped by entrepreneurs who are launching a business. You need to be able to articulate – in writing and when you are speaking to people – what makes your product/service so great. Along the same lines, identify what sets you apart from your competitors.
Where does your target audience congregate? Do a bit of research to find out where they get their information from, what organizations they belong to, their social media habits, and what their buying habits are.
What are your goals? Once you have identified who you are and who would be interested in what you have to offer, you need to set goals so you can identify what a successful marketing & PR campaign would look like for you. Is it sign ups? Website traffic? Awareness?

Once you have answered these five questions, you can sit down and use the information to decide what kind of marketing & PR strategy you should run. Your audience and your goals will dictate what channels you use to reach out and your product/service offering and differentiators will help you determine what type of content and messaging to use on each channel.

While it means you need to invest more time in the beginning to help set yourself on the right track, it is worth it in the long-term.

Candace Huntly is the Founder and Principal at SongBird Marketing Communications, an award-winning agency working to take organizational and individual brands to the next level. With a passion for all things related to creativity and strategy, she specializes in business intelligence, marketing & branding, content strategy & development, media & influencer relations, and social media. Basically, if you need to put your brand, product, or cause in the public eye, she will find a way to do it, while making the approach unique to you.

Connect with Candace

Facebook/Twitter/LinkedIn/email/Website

Sep 29 2016

Intellectual Property is Your Business and “A rose by any other name …”

I remember my first exposure to Shakespeare in high school and the stress it caused when I realized that somehow I had to understand what looked like English, but which to me, might as well have been written in Klingon. I have witnessed the same stress in business owners when the topic and lingo of intellectual property comes up. The way to get through it, like anything else, is to start with what does make sense and go from there. So, with that in mind, let me recount to you the gist of two conversations I recently had with business owners about intellectual property and their business.

Do I really need to bother with intellectual property?

The short answer to that question is IP is always part of your business, so why wouldn’t you? Let’s also consider, however, the context for the question.

The question was prompted after a business owner received mixed messages from her board of advisors about the relevance of intellectual property (IP) to her business, an enterprise focused on educating young entrepreneurs. The different perspectives of her advisors ranged from “forget about IP” to “worry about it later”; focus instead on your “value proposition and managing risk”.

This thinking reveals some common misconceptions about what IP is and the role it plays in a business. The first was that IP can somehow be disassociated from managing risk and is extraneous to the brand, content, and expertise, at the core of her business. In fact, in this case, content is her product, and so the value proposition of her business is all about IP. Selling her brand of content fundamentally relies on working with her copyrights and trademark rights. Whether or not she chooses to register these IP rights is another question, but even if she does not, she will still be using those rights in her transactions with publishers, distributors and customers.

Then there is the idea that you can put off addressing IP issues until you have some traction in the marketplace and some cash to spare. While addressing IP issues early on can indeed pull on meager start-up resources, suggesting you can cut IP out of the business incubation stage is like saying you can add yeast to bread to make it rise after you have baked it. In reality, you can make the most of the bread (and butter) of your business if you take the time to consider the legal nature of your creative assets from the get go. To do otherwise, is to risk not achieving the very thing you set out to do.

If I am dealing with intellectual property in my business, I don’t know it.

The business owner who raised this point works with a number of artisans and was thoughtfully reflecting on how business relationships seem to work fine without bringing intellectual property into the conversation. I get it. The more you talk about “legal stuff”, the harder it can be to get folks on board. The thing is, at the risk of being repetitive, IP is part of the equation even if not seen or acknowledged, and the math generally will not work in the long run if it is not somehow accounted for. So knowing this, would you rather address IP issues before or after they become a problem?

While the language of IP is not the most prosaic, understanding and talking about what something is, instead of around it, makes for clear, transparent and informed conversations, conducive to building solid business relationships. You can also save everyone the trouble of investing in relationships which are not a fit to begin with.

Whenever I have had this discussion with small business owners, I am reminded of my early days as a gardener, going to the nursery, buying plants and overlooking some of the details about how to care for them in different seasons. During the summer, flowers bloomed and there was new growth. In the fall and winter I would bypass a few steps to help the plants weather the colder days, and then when spring arrived, there was not much of a garden to speak of. Out of pocket and starting over, it was clear that there is no substitute for having a few targeted conversations and paying attention to the details.

And so it is with IP and your business relationships – a more thorough understanding of your creative assets is always a plus and with this knowledge, the options for cultivating business plans and relationships become more numerous, adaptable, sustainable and reflective of the real value of your business.

Ariadni Athanassiadis is the lead attorney of Kyma Professional Corporation, which provides intellectual property (IP) legal services to help your business develop and benefit from the creative efforts and assets that make it distinctive. Whether it is your brand, product, services, designs, technology or business processes, Ariadni can help design IP legal solutions which let you make the most of what you give to your business.

———————————

Ariadni Athanassiadis

Kyma Professional Corporation

T: 613-327-7245

E: ariadni@kymalaw.com

W: www.kymalaw.com

Jun 04 2015

Five Essentials for Successful Sales & Marketing Initiatives

The business world is governed by transactions. Everyone is either selling or buying a product or service. As entrepreneurs we’re constantly tying to grow our businesses by increasing our clientele. We tend to spend a lot of time and money on sales and marketing but do we really know what we’re doing and just how much do we know about marketing anyway? Here are five things you need to know in order to run successful sales and marketing initiatives :

Your product

Just what are you selling? Many entrepreneurs think they have a great idea, whether it be in the form of a tangible product like clothing or furniture or a service such as printing, advertising or consulting. In order to sell your business effectively you need to know your product inside out – what can it do, what are its limitations, is it customizable and how much are you willing to change it to suit your potential client.

Your Target Market

Who can benefit from your product? Knowing your customer is as essential to running a successful business as knowing your product. Many times entrepreneurs try to sell to everyone all at once – this is a huge mistake. Sales initiatives work when you have a clearly defined market segment that you want to target. In other words your product may not be appropriate for all segments of the market. A streamlined, focused sales strategy is always better than a blanket strategy.

Your Competition

As an entrepreneur you need to be aware that yours may not be the only product of its kind out there. Never assume your product is the best. It’s always good to know what you’re up against. The biggest mistake entrepreneurs make is ignoring the competition; mainly because they’re threatened by it. A true sales person always keeps abreast of the competition and seeks to better their product. Instead of criticizing other products, seek to highlight the benefits and advantages of your own product.

The Stats

As an entrepreneur you need to be aware of the statistics surrounding your product or service. A few key statistics you must know are the demand for your product, market size and your own market capitalization. Statistics may sound boring but they are useful when you’re defending your product against skeptical buyers.

Your own strengths and weaknesses

Knowing yourself is extremely important as an entrepreneur. It’s essential to know what you can and cannot do, what you’re good at and what you need to improve on. Being aware of your strengths and weaknesses as a sales person will in turn help you set reasonable and attainable sales targets. Achieving these targets will keep you motivated to set higher goals.

Praveeni Perera is the CEO and co-founder of Professional Edge Consulting a corporate training company based in Ottawa offering training and coaching services to clients around the world. She can be reached via Website, Twitter, Facebook or her Blog.

Dec 21 2014

Social Strategy SOS

In the third post in this series, I discussed why you need to consider your customers as “users” and how you go about creating a User Persona to help you target your Content Strategy to your ideal users. Over the next 3 weeks of this series, we’ll finish fleshing out the remaining pieces of the content strategy puzzle, and this week we’ll tackle what is possibly the most perplexing and time consuming part of your digital business: your Social Media Strategy.

Do I really HAVE to have a social media strategy?

Social strategy is complex: there are so many social networks, and sometimes it feels like there is a new one every day. How does a business owner know which ones to pay attention to, and which ones to ignore? Engaging in Social Media can be extremely time consuming with little visible return on investment: It can be difficult to clearly see how a social media strategy can help your business.

But social media can also be a virtual goldmine of new customers. It can be a way that you can develop a relationship of trust with your customers, engage in customer service activities, and even recruit new employees. Social media is here to stay and it is an essential part of every business owner’s sales, marketing, and business development toolkit. A smart, targeted social strategy can deliver brand awareness, new customers, and even conversions, but it is important to understand why you’re doing it and what exactly you should do, and this is unique to each and every business.

Conversion has changed – forever.

Think about how your customers convert nowadays. It used to be that customers would become aware of your brand or product through a limited number of expensive and highly controlled channels: perhaps through a television, radio, or newspaper ad, or perhaps through word of mouth. Their decision to buy was made primarily at point of purchase, that is, when they saw your product on the shelf in the store: the “first moment of truth”, as it was called in the traditional marketing model.

Google has recently described a new model that very accurately captures the new way consumers become aware of, and make decisions to purchase, products and services today, and they call it the Zero Moment of Truth. The Zero Moment of Truth is all about digital discovery: the extensive searching, recommendation reading, and consulting with Facebook friends that we now engage in before making a purchasing decision. For products and services big and small, we rarely convert until we have had at least 7 and sometimes as many as 17 digital “impressions” or touch points with a brand.

This Zero Moment of Truth is perhaps the most compelling reason that each and every brand, every business selling every product or service, needs to ensure that when the consumer is engaging in this foraging behaviour, that they are there, building trust and clocking impressions that may lead to conversion. These impressions come from your business website and your social media activities, especially what people are saying with you and about you in social media.

There may be a small segment of the population that doesn’t use social media, but this is a rapidly shrinking segment. The fastest growing segment of social users is adults 45-54, and more and more seniors come online every day. In many ways, Social Media IS the Internet, and the Internet IS Social Media. It’s difficult today to grow your business without a strategy that covers how, for whom, and how often you will engage your customers in the two-way conversation that Social media has to offer as a marketing tool.

So Many Platforms, So Little Time.

Scheduling tools like Hootsuite make it easy to track and control the frequency of your social media communications, and they make it easy to post the same content simultaneously to multiple social platforms. But while it may be tempting to try and broadcast your messages to multiple platforms at once, it is rarely a good idea. In his book “Jab, Jab, Jab, Right Hook”, Gary Vaynerchuck makes a strong argument that business owners should heed: not all social platforms are created equal. The kind of storytelling that works really well on Facebook for a particular user will not work on Twitter, or Linked, In, or Pinterest, or….

Knowing which platforms to prioritise is perhaps the most difficult part of your social strategy but also the most critical. You stand to lose a lot of precious time if you prioritise a platform that really doesn’t work for your business, and you can even erode or undermine your brand if you post something clearly inappropriate for that platform: so how does a savvy business owner choose?

There are three factors to consider:

1) What are the various social platforms “good at”?

2) Which of the social platforms do your users tend towards?

2) What is the nature of your business conversion funnel?

1) A Brief Primer on Social Media

There is much crossover between the various major social media platforms: all of them are, of course, social, meaning they are about engaging in a dialogue with others. But because each one operates in a slightly different way with different rules of engagement, they require different kinds of Storytelling.

Twitter

Has over 230 million monthly active users
Twitter followers are 60% more likely to recommend you than a Facebook Liker
The average age of a Twitter user is much higher than Facebook, at 39 years
70% of Twitter users expect to hear back from a brand, and 53% want that response within the hour
Twitter is good for establishing thought leadership, expertise, for sharing news, and for customer service and customer relationship management

Facebook

Facebook is the largest social platform in the world: if it were a country it would the third most populated, after only China and India
Facebook does have an influence on purchasing behaviour, even if not a direct one. Your Facebook fans are more likely to convert than non-fans.
Facebook is great for visibility in social search
Facebook is getting into the retail game with Facebook shops if you are selling a product
The new killer app on Facebook is the short video

YouTube

Has moved from being primarily a video search engine to a powerful social platform where many brands have been born and built. Khan academy, for example, and Justin Bieber.
Web videos are a great way to reach out to new and current customers and generate inbound links to your website
Because it is owned by Google, embedding YouTube videos on your website gives those pages a double-boost in Search Engine Optimisation

Google Plus

Great for local businesses, reviews, and Google search “juice”
Ties your business address into a Google Map and ties into other Google services

Linked In

The largest professional network, you must have a personal page on LinkedIn; it is far more common to connect with business contacts on LinkedIn than to keep a Rolodex or stack of business cards or emails.
Linked in generates 200% more leads than the other social networks

The fastest growing as of December 2012
Pinterest is very visual, about ‘things’, items they find interesting, but it works even for small businesses that aren’t visually stimulating.
Pinterest is good for referral traffic because the source of the pin is a link to your site, especially images you might be posting in your blogs. Even if you don’t maintain a page or presence on Pinterest, installing a “pin it” button on your website pages is a good idea

2) Where Are Your Users Hanging Out?

The short answer is, everywhere. But you have to narrow that down a little to come up with a feasible strategy. It’s important to note here that there are multiple social platforms not listed above, many of them attracting niche audiences where you might find a treasure trove of users interested in exactly what you have to offer. This article outlines 60 niche social networks and it is worth doing a bit of digging to see if any of them resonate with your business goals. Another tool that you can use is socialmention.com; social mention searches blogs and social networks for topics or brand mentions and can be a good way of finding out where conversations are taking place that align with the kinds of conversations you want to be having with your customers. And social crawlytics at socialcrawlytics.com can be very insightful, generating a report that will tell you which pages of your website have been shared in social media, where they have been shared, and even by who.

3) What is the Nature of Your Conversion Funnel?

Typically, the more expensive the product or service, the more touch points the consumer will require before purchasing. What are you selling, and how many touch point’s do you think your customers need before they buy?

Is your product or service more suited to an active discovery process or a passive discovery process? For example, if I need an emergency plumbing repair I tend to engage in some very active discovery to find one. I search Google and will probably call the first few service providers I see. Social Media is better at passive discovery, at marketing products, services, and ideas that consumers don’t need right away or in an emergency.

Do you have a lot of competitors, so will need more touch points or more visibility in the market, or very few competitors? Are you in the B2B or B2C market?

How much customer service does your product or service require? And how much brand awareness do you already have in the market?

Document the answers to these questions on this worksheet; by indicating on the sliders in the worksheet where your business lands on these various conversion factors will give you some pointers towards which platforms you might want to prioritise as well as the frequency of posting you might want to consider. Note that the worksheet is more art than science and is intended only as a starting point: they only way to really get good at social media is by doing it, so start small, perhaps with your LinkedIn page, and build slowly using the worksheet as a guide.

The biggest question the Content Strategist has to answer is “Do I need a website AND a Social Strategy”? The answer is yes, for a myriad of reasons, not the least of which is the findability of your content in Search. Next month, we’ll cover Search Engine Optimisation and Influencer Marketing, the two biggest ways you can make your website work for your business.

For more resources and information on Content Strategy and to download a detailed description of what content strategy entails, go to analyticalengine.ca/resources or download a Content Strategy Info graphic at http://bit.ly/1qY9tYp.

Christine McGlade is a Business Analyst, Content Strategist, and Usability Consultant. With over 25 years experience in the media business, Christine helps small business, social enterprise, and Not for Profits how to leverage the power of the Internet to grow their business. Learn more about Christine at analyticalengine.ca

Nov 26 2014

Do you Mastermind? Should you be?

I constantly see images and hear things from other successful business owners about Masterminding, and why I should be doing it. In fact, this morning I was listening to Michael Stelzner’s podcast, and he and his guest, Jeff Korhan, were talking about the importance of small business owners taking the time to co-operate and collaborate with other small business owners.

When you’re a one man show 90% of the time like me (okay…maybe you have a virtual team member or two), it’s hard to really strategize and set goals because…well…there’s only you. Gone are the days when you can meet up with your team of co-workers to sit down and hash ideas out…I bet your office doesn’t look like this anymore:

And, so many other things come up, right? You just don’t have time, right? And when it’s just you, it’s easier to not hold yourself as accountable as you do when you know there will be someone else checking up on you. Sound familiar? I know it does for me.

But the more I’ve been thinking about it, the more I see that this is something I need to make time to do. Why? Here’s 3 reasons:

I plan and think through things best when I talk through them….to do that I need more than myself.
ACCOUNTABILITY!! I think we all make things a priority when there is someone else in the mix…we just don’t want to let them down.
Fresh ideas…plain and simple. A fresh set of eyes could be exactly what you need to get out of a rut, bring together a great new campaign/product, or solve a customer problem you’ve been having.

As you can see, the process of collaboration has some very obvious, simple benefits (for me anyway), and I’ll be making it a big part of my business planning and strategizing in 2015.

(Now I’ve just got to find places to meet fellow masterminders…any tips?)

So….do you Mastermind? Why? Why not? If you do, what benefits have you seen? Let us know in the comments!

Samantha King has a passion for working with female entrepreneurs to build the business of their dreams. Specializing in Branding, Marketing, & Event Planning, she uses her experience in event and marketing co-ordination to work with small business owners on the conceptualization, coordination and execution of their marketing and event projects. She works with her clients to understand their brand, current marketing strategy, and (most importantly) their dream to help them complete the marketing tasks on their to-do lists that they know they need to do, but don’t have the time to do…and don’t have the budget to hire a full-time inside person to do.

You can reach Samantha directly via email at: iamsamanthaking@gmail.com or connect with her on LinkedIn at: ca.linkedin.com/in/samanthajking

Mar 12 2014

What’s in a name?

We spend countless hours trying to figure out the perfect name for our business. It is important. The right name can help you be the talk of the town. A bad name can fade away and lead to obscurity. So how do you pick the perfect name? Do you name the business after yourself? Do you pick a name that describes your service or product? Or, do you create catchy new words like ‘Google’ or ‘Zappos’? Determining what to name your business comes down to three things:

– The industry your business is in;

– What is the vision you have for your business; and

– Your long term plan for your business.

If you plan to be the main commodity of your business, e.g. an expert in a particular field, a coach or a speaker, than you should name the business after you. Should you go on to produce books, products and pod casts, the only thing that isn’t changing is you. Naming your business after yourself allows your customer and clients to identify your expertise. You also have the flexibility of creating different products whilst not having to be locked in to just one.

Should your long term plans include selling your business one day, you should consider a name that describes your product or service. However, this is not a hard and fast rule. There are many businesses where the owner became the brand and the business was subsequently sold. However, remember that if you intend to sell your business, the name is likely trademarked which prevents you from using the name for future ventures. This includes your own name.

When considering the name of your business, it is important to determine what it is you are trying to communicate. This can be determined by using your mission statement as a guide. Once you have this clearly defined, it is important to consider the following when creating a name:

– Pick something that appeals to your niche and that your niche will identify with;

– Something that is not too long and confusing;

– Don’t use plain language that won’t stand out in a crowd;

– Avoid clichés;

– Avoid unusual spelling; and

– Try and adopt a name that gives some information about your business.

Once you have picked a few names make sure to check whether your names have already been trademarked or are in use. You want to ensure you are not infringing on anyone else’s rights.Failure to do this could lead to legal battles down the line and significant money spent when it could have been avoided.

You also want to check if the domain name you’d like to use is still available. There’s nothing worse than coming up with a brilliant name only to find someone else has already purchased the domain.

Happy naming!

Jennifer Jampala is a budding entrepreneur, traveller and yogi. She is passionate about building businesses, relationships and experiences. Follow Jennifer on Twitter @JenniferJampala