By Samantha Garner | February 25, 2017
Do you use videos as part of your small business marketing strategy? If not, you may be missing out on a valuable and effective marketing tool that your customers will respond to very positively. Here are three ways you can use videos in your small business marketing:
An explainer video
As the name suggests, an explainer video guides customers and users through the salient features of your product or service. It’s similar to an elevator pitch, and can be a great way to quickly introduce your customers to what you’re offering, without making them search around your website to find out more. And a recent survey of American consumers showed that 73% of them are more likely to buy after watching an explainer video. Tip: Keep it as short and snappy as you can – 1-3 minutes should do it.
Your beautifully-written website paints an irresistible picture of your product – but what can be better than seeing your product in action? You might consider creating videos showing off the exciting and useful features of your product so customers can get even closer to the full experience. Tip: Be clear and communicate lingo-free where possible.
Testimonials are a favourite on many small business websites. However, testimonial videos can go even further in making that person-to-person connection that can help attract new customers. If your business already has written testimonials, consider asking those customers to star in a video testimonial as well. If your product or service has received good reviews on sites like YouTube, consider reaching out and asking if you can use the video on your site. Tip: Let your customer talk about the ways your product or service has benefited them specifically; you never know what other customers will find useful!
By Samantha Garner | February 18, 2017
At GoForth Institute, we’re proud to partner with nearly 100 great organizations across Canada that offer our training to their clients. Our comprehensive small business training offers fully Canadian content that’s customizable to the unique needs and market of each partner’s business environment.
We’re proud to share some recent case studies that show why we love helping Canadian entrepreneurs meet their goals. Check out the benefits seen by some of our partners!
By Samantha Garner | February 11, 2017
Cost of good sold, or COGS is the price you paid to acquire the products that you’ll sell to your customers in retail/wholesale businesses, or the cost of the raw materials, labour and supplies in manufacturing businesses.
It’s important to know your cost of goods sold so that you can better understand your business – your profits, and where you might be able to improve efficiencies.
How to calculate cost of goods sold
Most small businesses use the following formula to calculate their COGS expense:
Value of goods inventory at the beginning of the period
Value of any goods purchased for resale during the period
Value of goods inventory at the end of the period
The cost of goods sold during the period
And there you have it! Calculating your cost of goods sold is another tool you can use to help your small business succeed.
By Samantha Garner | February 4, 2017
We hope you’ve had an enjoyable week of entrepreneurship. If you’re enjoying some downtime, why not relax with some small business blog posts?
- Courtney Khimji: Today’s Notable Young Entrepreneur at Notable.ca
- 3 Ways to Build A Mobile App With No Tech Skills at Entrepreneur
- Instagram Ads: The Complete Guide for Business at HootSuite
- How to Negotiate When the Other Person Won’t Play Fair at Forbes
Did you read anything interesting online this week? Let us know in the comments!
By Samantha Garner | January 28, 2017
Along with starting your own business from scratch; buying into a franchise; creating a family-owned business; and buying an existing business, licensing your product idea is one pathway into entrepreneurship. Patents, copyrights, and trademarks are three of the better-known forms of intellectual property protection for a small business.
Today, we’re going to look at three other types: Industrial design, integrated circuit topographies, and trade secrets.
Protecting your industrial design means protecting the unique ideas, features, configurations, shapes, patterns and ornaments of your product — basically, the way it looks.
Integrated Circuit Topographies
Three-dimensional circuit designs used in a wide variety of mechanical and electrical products. Registering your business’ unique integrated circuit topography grants you exclusive rights – find out more at the Canadian Intellectual Property Office.
A piece of information used within the business that is kept strictly confidential. Trade secrets can include production methods, formulas and customer lists. Think of the formula for Coca-Cola or the recipe for McDonalds’ Big Mac special sauce.