By: Adam Groff
The Great White North has its fair share of successful industries that continue to prosper year after year even in the worst economic climates. Although the Canadian market isn’t as large or diverse as some of the other markets in the world, it’s every bit as stable if not more so.
With that in mind, here’s a list of the top five industries prospering in Canada.
1. Agriculture
When it comes to wheat and grains, Canada has it covered.
In fact, Canada is one of the largest suppliers of agricultural products in the world. Due to its strategic location Canada exports most of its crops to its big brother of the south, America.
As part of the World Trade Organization (WTO), Canada practices fair-trading by ensuring whatever it puts on the market agriculturally doesn’t influence the price of crops in other countries. Canada’s agricultural sector is steadily growing every year and accounts for 8% of the country’s Gross Domestic Product.
2. Energy
Due to its abundance of oil and natural gas, Canada has quickly become a world leader in energy resources.
Canada not only has the third largest oil reserve in the world, it’s also a world leader in hydroelectric power with Quebec, Ontario, and Saskatchewan all using vast amounts of hydroelectric energy.
Because of the abundant energy resources available, Canada’s oil exporting and other energy related products make up for 2.9% of the country’s GDP. Additionally, Canada has adopted solar and wind energy production as the next major industry in the energy sector ensuring continued prosperity.
3. Technology
Although it’s for the most part undervalued, Canada’s technology industry is one of the strongest in the world. And, thanks to the Canadian Startup Visa, which is a government Visa aimed at bringing in new tech companies from all over the world, Canada will continue to change the world’s technology landscape.
The government Visa will undoubtedly bring the brightest minds to Maple Leaf Country and give places like Silicon Valley and India a run for their technology. Canada’s technology industry is currently prospering the most in areas such as digital media, wireless infrastructure, Ecommerce, and general Internet services.
4. Services
Accounting for a whopping 80% of Canada’s GDP and employing almost three quarters of the entire country is Canada’s service sector. And, within the sector itself, industries like retail, business, education, and health make up the largest portions.
Although the strength of the Canadian dollar has hurt tourism numbers, Canada still has a strong tourism industry with most of it’s international travelers hailing from the United States. In fact, Canada’s retail sector, which directly relates to tourism, accounts for 12% of the GDP and that percentage is steadily growing.
5. Manufacturing
Although the global financial crisis took its toll on Canada from 2008 to 2010, the country’s manufacturing industries are on the rebound and make up for 14% of Canada’s GDP. And, like never before, Canada’s automotive branch plants are back in full swing.
American and Japanese auto industries are attracted to Canada’s highly educated workforce and low labor costs making it a go-to destination for automobile manufacturing. Automotive parts production is one of fastest growing manufacturing sectors in the country.
It’s hard to ignore the fact that Canada’s industries are booming.
With the abundant natural resources, government incentives, and stellar workforce, it’ll continue to prosper for years to come.
About the Author: Adam Groff is a freelance writer and creator of content. He writes on a variety of topics including world markets, billfloat, and advancements in technology.
]]>By: Tina Samuels
Canada has been a leader in social media adoption since 2001 when more than 40% off the nation's population had plugged in to Facebook or Twitter. By 2012 almost half of the population had joined and by 2014 it is estimated at current growth fully 53% of Canadians will be on social media.
With all of the people in Canada that have joined the social media frenzy, you'd assume that most businesses have, too. Well, that assumption would be incorrect.
Sure, many businesses have websites. However more people check businesses and their ratings through social networking than through static webpages. A website is still a great idea, people can find out all of the business or product information on a static website.
But social media allows businesses to interact with customers in a more personal way.
Let's look at who is doing it right in Canada.
Toronto Transit Commission
That's right, the Toronto Transit Commission or TTC is making use of social media. They're also doing it better than most.
Their regular website is social and encourages people to like or follow them on other networks. When there are delays or other transit information the TTC posts or tweets the information. Not only can commuters find out through social networks, the TTC offers SMS messaging. While waiting for a train commuters can text their destination to the TTC and receive a reply on when their next train will arrive.
Porter Airlines
This airline uses social networking to engage potential customers, communicate delays, and showcase discounts. Porter Airlines began in 2006 as an affordable airline and alternative to the bigger, well-known companies. The airline uses Twitter more than Facebook in order to put fast-paced information out for customers on the go.
Read related content:
Smoke's Pountinerie
Do you love poutine? Maybe you've never heard of the Canadian comfort food.
Poutine is a very Canadian fare made up of french fries and cheese curds smothered in gravy. The dish is so popular that there are restaurants devoted to just poutine- Smoke's is one of them.
Unlike many Canadian businesses, Ryan Smolkin, the founder of Smoke's, decided to use social networking to its fullest. He has accounts across all social media platforms including YouTube, Facebook, Twitter, and Flickr.
Smoke's is well known for sharing discount menu items, events, and more on their Facebook and Twitter accounts. There's an annual poutine eating contest which is advertised on their Facebook landing page. People visiting the page can receive a free ticket and even free poutine for a 'like'.
More businesses have been encouraged by Canadian citizens that wonder why there isn't a move toward more social businesses.
Social media makes it easier for customers to interact with a company. Answers to questions, customer service in general is easier in real time. Not only that, social networking can be a very economical way to generate word of mouth advertising.
So, is your business getting it right when it comes to social media?
About the Author: Tina Samuels writes on billfloat, social media, and small business.
]]>By: Tina Samuels
Have you ever stopped and thought about how the small business market is doing in Canada? Wonder what parts of the country might be most receptive to small businesses? Lastly, is your small business doing better or worse than your fellow Canadian business owners?
According to the Canadian Broadcasting Network there are more than a million small businesses in Canada.
This isn't counting independent contractors – but while the number seems significant, the statistics are staggering when you take in consideration the number of all businesses in Canada:
This means that in Canada 98% of all businesses are small business.
There is some data for individuals which point to about 15% of all workers in the country being self-employed, though independent contractor data is not precise. Not all independent contractors report their business which can skew data. The actual amount of individual workers could be much higher.
Employee Statistics
Recent data has shown that well over five million of the people employed in Canada work for one type of small business or another. That's over half of the total workforce.
No matter what city you choose to open a small business in, Canadians utilize the products and services of small businesses more than any other industrialized nation.
Part of this can be directly connected to Canadians open approach to technology and business. The country is typically more receptive to new ideas and approaches than many other industrial nations around the world.
Read related content:
Success In Canada
Small business are established in the thousands throughout Canada every year. Many are successful, so successful that over 80% of exports for Canada came from small business (2005-2007 data).
Out of all exporters in the country, 86% were small businesses. In 2009 the amount generated from small business export was $68 billion which was fully a quarter of all revenue in Canadian exports. The amount of revenue generated for GDP (gross domestic product) and exports from Canadian small business has been growing every year. It is safe to say that small business can be very successful in Canada.
The government offer help to small business owners and encourages the growth of such companies through numerous programs. Healthcare is also more affordable in Canada which may offer help in reaching successful launches and extended growth.
Where To Go
While most of Canada is receptive to small business, the coastal provinces provide the most opportunity for small businesses in the western part of the country.
In the East the most successful businesses are established in Ontario, most notably Toronto. Businesses established near the U.S./Canada border may see an increased amount of business due to customers from both countries.
To the west, artisan businesses do well in Vancouver. The area is well known for being eco-friendly, art friendly, and progressive. Any business that focuses on new or unique products or services will enjoy a higher rate of success in this area.
For anyone that is considering starting a new small business in Canada the following cities are always a good bet: Calgary, Edmonton, Montreal, Toronto, and Vancouver. Nova Scotia has had an upswing in growth and could be considered as well.
About the Author: Tina Samuels writes on how to remove personal information, how to clean up your social media, and the basics of small business.
]]>While most mobile marketing media points to the United States as an innovative place for mobile technology, Canada is a strong market.
Canadians have long been considered by businesses as more open to early adoption of new innovation. In 2012, the country had the one of the highest amounts of mobile payments processed in the world.
As the century moves forward, Canada is becoming a world leader in mobile payment acceptance and utilization.
MasterCard
MasterCard is one of the companies that sees Canada as the place to be. In fact the company is launching a new mobile payment solution in Canada called MasterPass.
This platform will allow vendors and consumers a way to process or use mobile payments with just a tap or two.
The platform is a sort of virtual wallet that allows consumers to enter information from up to 25 credit cards, including MasterCard competitors. Instead of working against competitors (other credit card issuers) MasterPass allows consumers to use their preferred card which makes life easier for consumers. The platform reduces the number of apps a consumer will need on their phone and the number of sign-ins needed to make purchases.
Many shopping carts are abandoned due to onerous sign in policies or purchasing requirements that aren't mobile device friendly. MasterPass aims to make shopping easier online and off.
They hope to reduce the number of abandoned virtual shopping carts with their ease of access and multiple credit card 'wallet' or 'locker'. The company notes that they are not just a credit card company but a payment company.
Read related content:
Mobile Reference Model
The Canadian Government announced a mobile payments guidelines solution for the entire country in 2012.
The solution was dubbed the Mobile Reference Model and was issued as voluntary guidelines for financial institutions, payment card companies, telecommunications companies, and merchants around the country. The MRM was intended to help all of the companies and consumers work together to safely transfer payments and payment information.
The most used form of mobile payments in Canada is the NFC or 'tap and go' system.
The Canadian Government put together an overview of the system and voluntary guidelines for consumers and businesses. It can be found here.
This document also covers the types of hardware and software that is compatible with the NFC system. Most consumers that use the system have the correct hardware (mobile smart phones), though they need to install the software. Apps are usually available through the smartphone's 'store' app pre-installed on phones. Apps can also be downloaded via the internet.
Future of Mobile In Canada
Finally, the future of mobile payment processing looks exceptionally bright in Canada.
As one of the most technologically progressive countries in the world, Canada has the distinction of being where many companies test-launch mobile systems. MasterCard is taking advantage of Canada's open-minded approach to technology. Other systems from Visa and PayPal are popular as well.
The country's largest mobile phone service provider, Roger's, has plans to expand the number of phones provided that are NFC compatible. Eventually all mobile phones will be able to accept or send mobile payments.
About the Author: Tina Samuels writes for small business owners, giving advice on how to accept payments and the virtues of social media.
]]>Virtually all businesses these days need to advertise online.
Driving people to your website through well placed advertisements is necessary to promote your business. Luckily, if you’re on a budget, you don’t need to spend tens of thousands of dollars to get the benefits of online advertising.
While the initial temptation will be to place ads on the most traveled websites related to your business, these sites will cost you an arm and a leg - often for the same results you could likely get from a combination of a few smaller sites, for a fraction of the price.
Here are five tips for saving on advertising online for your business.
1. Write Clear Copy
While on the surface copy might not seem like a big priority, “saying what you mean” isn’t always so easy. Each word is very important. To put this in perspective, a good copywriter will sometimes write pages just to get one great word or two.
Your advertisements needs to be so good that in the second or two it takes for them to scan a page, your little advertisement not only stands out, but drives them to click. Impressions are all well and good, but you are after clicks. Your copy should be concise, specific and compelling.
Really take the time to make a quality, clickable advertisement.
2. Cross Promotions
Cross promotion is a cheap (and often free) way to attract more customers. When you partner with other credible businesses and organizations that attract a similar target market, you can reach customers more efficiently and directly with the right messaging and promotions.
Partnering with major nonprofits is a good start. Offer small donations for cause marketing to the organization and boost your visibility. With cross promotions, you’re essentially using each others customer bases to grow your own. It’s a really smart, and mutually beneficial tactic to help organizations build a following or customer base.
Some things you can do with a partner: Joint promotional messages on social media or in print, signs promoting one another, pooled mailing lists, joint interviews with media, and reduced prices on each other’s products or services or to your partners and customers.
3. Create a Company Blog
Creating a quality blog, utilizing relevant search words is essentially free advertising.
Ultimately you want to drive more people to your website, as it increases the likelihood of acquiring new customers.
A blog also will affect your businesses search rankings positively, as each new post is a separate page that can be picked up by search engines such as Google, Yahoo!, and Bing. Make sure to blog regularly using words that search well, are relevant to your brand and will ultimately increase your SEO ranking.
Read related content:
4. Outsource Online Advertising Management to a Pay-Per-Click Expert
Trying to make successful ads is difficult, and take a lot of trial and error. Trial and error, while a great learning experience, can be expensive when you’re trying to run a business.
Pay-Per-Click (PPC) experts are great copywriters, understand SEO very well, and know how to use search words and place advertisements in a way that most laymen do not. Writing and placing ads successfully is an art that takes time, skill and of course money to fully grasp.
Find an expert to help you place ads, and compensate them based on their success.
5. Use Reporting Tools
If an ad is doing well, you want to know soon so you can place this, or similar ads on more websites. Likewise, if an ad is failing, you also want to know quickly so you can get rid of it and try something new.
This is often something that an SEO expert will already utilize, so if you’re going at this alone, it’s definitely smart to use something like ShufflePoint, Analytics Canvas and LinkDex just to name a few.
If you take each of these steps, you’ll be well on your way to advertising in a cost effective and successful way.
Unless you have an SEO or advertising expert on your team, it’s likely that you don’t have the time or necessary skills to advertise most effectively.
Seeking outside help, whether through an agency or working with a pay-per-click expert is going to be your best bet, cost permitting.
About the Author: Peter Walters is a freelance blogger for various sites, and covers topics such as reputation, social enterprise and problems with ripoff report. He is the Director of Business Development for Two Degrees Food and lives in San Francisco.
]]>There are some people that with think with the advent of the internet there is no reason to attend trade shows. This couldn't be further from the truth.
Trade shows are just as relevant as they ever were, perhaps more so. Social networking is just as important in a face to face setting.
Let's look at five reasons your small business needs to make an appearance at trade shows.
Networking:
As stated above, networking at a trade show is the number one reason for going to a trade show.
Every person at the show is likely to be interested in your business, surely more there than anywhere else at any time. Not only will the attendees be interested, but often the people working the show. Others that are set up may wish to learn more, you could even forge partnerships!
Making new partners will help you expand your business. You may not join forces with another company in your niche, but you could meet another small business that offers a service or a product that will enhance your own.
Education:
Face it, though you may know everything there is to know about your particular product or service, you can learn more about anything.
You can find out more about sales avenues, service issuance, and customer service by talking with others at trade shows. You can learn from professionals and experts that speak at trade shows. By paying attention to what the experts tell you or by learning about new strides in your business niche, you might just find yourself ahead of your competitors.
You can always learn something new and even if the new stride isn't in your niche it may be on a new technology that you can integrate into your product or service, making you the first in your field to do so.
Read related content:
Word of Mouth:
Word of mouth advertising is the pinnacle of advertising. What every company aims for is for people to tell others about them, have one of those people buy or use their product, and then tell more people.
The chain of advertising when spread by word of mouth is unending. Most people that visit a trade show will tell others about the product or service that caught their attention – often to six people or more according to one study. The Center for Exhibition Industry Research offers much information on how trade shows can impact your word of mouth advertising.http://www.ceir.org/
Personality:
When your small business attends a trade show you are not just networking, you're putting a face and name to the product or service you're promoting.
Billy Mays was a household name – he was the reason OxyClean made such a memorable product. Billy Mays and others like him were present at trade shows. When we think of products like ShamWow or OxyClean we see the people selling them to us. These personalities are first seen at trade shows, then television.
Your product or service might just end up as memorable thanks to putting a personality to the product.
About the Author: Tina Samuels writes on small business management 101 and other topics.
]]>Just couldn’t resist the smell of her perfume, could you? Or perhaps it’s the way she plays footsie with you during team meetings. Whatever the case, you’re headed down a slippery slope, Casanova.
So what do I have to worry about?
Well, for one thing, your job-- especially if you’re dating a superior, or even someone below you.
Generally companies tend to discourage romantic relationships between employees. It can affect office culture, make other co-workers feel uncomfortable and in those “grey areas,” even lead to sexual harassment cases.
Also, what if you breakup? Nothing says awkward like being stuck with an ex because you work in the same office. If a romance is going to happen, keep it as quiet and professional as possible while in the office.
But there was no policy saying we couldn’t!
There’s also no policy saying you can’t loudly slurp noodles in your colleagues ear all day, but you still wouldn’t do it out of respect, right?
Whether your company has you sign a “love contract,” or your manager has to have a friendly chit-chat with you about this, it’s best to keep the flirting out of the office. Your company shouldn’t need to write a policy that says that they “don’t condone” relationships between employees.
Legally, it’s a tough battle for your company to fight and win, so if they don’t want it to happen, their disapproval could show up in other, less overt ways (i.e. no bonus, raise, etc).
What if you fall in love?
If you’ve found the partner of your dreams, who are we to stop you from starting a relationship? If you fall in love, enjoy it! Finding a partner is beautiful and should make you happy, not anxious about whether you’re going to get fired.
You need to determine whether this relationship will affect your career or job at this company. If it will, and you love the person, start considering whether one of you should possibly leave the company.
Should I quit?
Maybe-- and especially if things get either too intense or start to get weird, the idea of quitting should be taken quite seriously.
As you likely know, one of the most important qualities of a successful company is a team that can communicate effectively and honestly. When a rocky (or passionate) relationship damages the flow of a company and the way your team works together, that issue lands squarely on you and your partner.
If this relationship is worth it, then you should do everything in your power to either switch departments, or leave one of you should leave the company.
In the end, there’s no “right” answer.
If you decide to stay at your company, and maintain your relationship (whether privately or opening), there are definite risks that could jeopardize both your relationship and your job. Either you or your partner leaving is likely the best decision.
Finally, seek out advice from people you can trust.
Whether you talk a friend, parent or the human resources department at another company, it’s worth getting a second opinion before making any big decisions that would affect your job or relationship.
About the Author: Peter Walters writes on a variety of business topics, among which includes reputation protection. Living in San Francisco, he is the the Director of Business Development & Partnerships at Two Degrees Food.
]]>By: Robert Spence
First gaining traction in the mid to late 1990’s, e-commerce has dramatically changed the landscape for retail shopping. The internet has given consumers the ability and convenience to order anything their heart desires while never having to leave their house. The wild popularity of the internet has also given entrepreneurs and the average Joe the ability to start their own business without going through the traditional steps of having a physical location.
We break down three reasons potential business owners should choose starting their business asan e-commerce over the traditional brick-and-mortar storefront.
It’s cheaper
Bing! This is one of the main reasons people choose to go with an e-commerce. When opening a physical store businesses need to have capital for things like rent, utilities, building decorations, and employees—and these things don’t come cheap. Not to mention that isn’t counting any inventory or advertising costs that go into running a business.
One of the biggest perks of starting an e-commerce store is the fact it’s inexpensive. Besides inventory, getting started only requires a domain name, a hosting account and some free time. Not to mention there are a number of easy-to-employ e-commerce platforms that will do all the heavy lifting for you.
Your customers are already online
According to Internet World States, roughly 78.1 percent of the total U.S. population or approximately 245.2 million Americans are active internet users.
In 2012 Google conducted a survey of potential holiday shoppers. The survey indicated that 44 percent of the shoppers intended to make an online purchase and some 51 percent would look online before making a purchase at a brick-and-mortar store. Clearly the internet is the engine driving retail.
Given this information, your customers are already online and looking for things to buy. E-commerce owners don’t necessarily need to build demand but rather access a large and interested market that already exists.
One of the biggest benefits of using an e-commerce is the mass exposure you’ll gain. Unlike a brick-and-mortar business where your storefront’s location is critical the internet allows for your store to be seen by millions of people all over the world. It gives business owners the opportunity to reach a market far beyond what your physical store could ever achieve.
Read related content:
It’s a stepping stone into mobile commerce
If you haven’t already heard, mobile commerce is a thing. M-commerce is essentially the act of browsing and purchasing products from your mobile phone rather than a desktop.
E-commerce aided by mobile is growing at 4x the rate of traditional retail and now accounts for one out of every ten retail dollars. As a percentage of total online sales, mobile represents a relatively small percentage of transactions. However, the continued growth and adoption of the mobile internet could represent a huge opportunity for small businesses.
According to a recent report, by the end of 2013 there will be more mobile devices on Earth than people.
If this is true, establishing an e-commerce business now allows you to hit the ground running when the massive growth of m-commerce hits.
Overall, the cost of establishing and maintaining a brick-and-mortar store just isn’t worth it anymore—At least not now in the age of the internet. As e-commerce sales for retail goods continue to grow faster than offline sales for brick-and-mortar stores, the time is now to start your own business by creating an e-commerce store today!
]]>The May edition of the Business Review North America is live!
Razer, a leading PC game accessory manufacturer, is seeing major success through the popularity of PC gaming. Started in 2005, Razer has grown into a thriving company that won the CES Best of Show in 2013 for its Razer Edge laptop. The community that support Razer products has become almost a ‘cult following,’ a following that many brands strive for but never reach. This month, find out why Razer has seen ultimate success in the PC gaming industry through incredible leadership
Other topics highlighted this month include bank promotions in the US that make up for low interest rates today, the top five telecom conglomerate in North America, and the importance of brevity in television commercial advertising.
Read more in this issue:
As this is my last issue of Business Review North America, I’d like to wish our readers a fond farewell. Leading the brand from separate entities of Business Review Canada and Business Review USA into becoming a prominent North American magazine that covers important business news has been a challenge and an exciting endeavor. I look forward to see where the brand goes in the future.
]]>
10. John C Martin
Gilead Sciences
$43.9 million
John C Martin, Chairman and CEO of Gilead Sciences, has been with the company since 1990 and was appointed CEO in 1996. Martin has a PhD in organic chemistry from the University of Chicago and is a member o f the Board of Directors of the California Healthcare Institute.
9. Clarence P Calzalot Jr
Marathon Oil
$43.71 million
Clarence P Cazalot Jr, Chairman, President and CEO of Marathon Oil, has been a member of the Marathon Oil team since March of 2000. Cazalot graduated from Louisiana State University with a BS in Geology and serves on the Boards of Directors of Baker Hughes, American Petroleum Institute, the LSU Foundation and the Greater Houston Partnership.
8. Stephen J Hemsley
United Health Group
$48.83 million
Stephen Hemsley, CEO and President of UnitedHealth Group since 2006, joined the healthcare conglomerate in June 1997 and has served as President and COO. Hemsley received his BA from Fordham University and serves as a trustee of the University of St. Thomas, Minnesota as well as Minnesota Public Radio.
7. Jeffery H Boyd
Priceline.com
$50.18 million
Jeffery Boyd, Chairman, President and CEO of Priceline.com, has been with the company since 2000. Boyd was appointed Chairman in succession of Ralph M. Bahna in January 2013, has been CEO of Priceline since 2002 and President since 2001. Prior to Priceline, Boyd was employed at Oxford Health Plans.
6. George Paz
Express Scripts
$51.52 million
George Paz, Chairman and CEO of Express Scripts, has been with the company since 1998. Paz provides Express Scripts with “strategic direction to ensure alignment with clients to deliver better, more cost-effective health outcomes for millions of people.” Paz received a Bachelors in Business Adminstration and serves on the Board of Directors for Honeywell, Inc .
5. David M Cote
Honeywell
$55.79 million
David Cote, Chairman and CEO, has been with the company since 2002. Prior to Honeywell, Cote served as Chairman, President and CEO of TRW Inc. Cote has significant public policy experience through serving on the bipartisan National Commission in Fiscal Responsibility Reform and the Bipartisan Policy Center – Energy Project.
4. Richard D Kinder
Kinder Morgan
$60.94 million
Richard Kinder, Chairman of the Board and CEO at Kinder Morgan, is co-founder of the company, which he formed in February 1997. The company from its beginning with 175 employees has grown to an organization that is valued at $100 billion and employer of more than 11,000.
3. Michael D Fascitelli
Vornado Realty
$64.40 million
Michael Fascitelli, President, CEO and Trustee of Vornado Realty Trust, has been with the company since 1996. A graduate of the University of Rhode Island, Fascitelli earned a B.S. in Industrial Engineering Summa Cum Laude. Fascitelli is also President and Trustee of Alexander’s Inc and is on the Board of Toys “R” Us.
2. Ralph Lauren
Ralph Lauren
$66.65 million
Ralph Lauren, Chairman, CEO and Director of Ralph Lauren, has company roots that reach back to 1967 although the company did not become public until 1997. Today, Ralph Lauren has over 35 boutiques and in 2010, had a total revenue of $5 billion. In 2010, Lauren was declared Chevalier de la Legion d’honneur by French President Nicolas Sarkozy.
1. John H Hammergren
McKesson
$131.19 million
John Hammergren, Chairman, President and CEO of McKesson, joined the company in 1996. Hammergren has held a variety of executive positions such as President of Supply Management and EVP for pharmaceutical medical-surgical, pharmacy automation and pharmacy outsourcing. Hammergren was elected President and CEO in 2001 and Chairman in 2002. McKesson, under Hammergren’s leadership, has become a leading provider of healthcare services and IT solutions in the healthcare industry. Hammergren has led McKesson to reach revenues of $123 billion, has expanded the company to new markets and led the company to be ranked as 14 on the Fortune 500. Hammergren also serves on the Board of Directors for Hewlett Packard and is a member of the Business Council and Business Roundtable.
Was Leonard Lavin really that smart?
Let’s look back on a quick watershed moment in my advertising career. Leonard Lavin founded Helene Curtis, a Chicago-based health and beauty company that produced about a billion products. A few of those products were handled by Lee King and Partners, the last of the last-great-Chicago creative boutiques of the 80s, spawning no lesser talent than David Kennedy, of Weiden & Kennedy, and me, to name two. But let’s get back to Leonard.
In the early 1980s, Leonard Lavin was at the forefront of a new media buy: the 15-second spot. Leonard believed that he could pack as much punch in a 15-second commercial as a 0:30, all while paying half the price for media.
The 0:15 spot might have made sense to Leonard, but we creative types considered it a death knell. We were still reeling from the slow, tortured demise of the 0:60. We bid so long to the storyline. How were we going to get all the pertinent info, plus a memorable little tug at the heartstrings or a belly-busting laugh, all squished into 15 seconds?
We quickly learned that an effective 15-second spot was really a long 0:10 instead of a short 0:30. Today it seems like some creatives need to relearn that little tidbit. Then again, maybe they’ve never been taught.
Fifteen-second spots are quite normal now. And according to Nielsen, they’re 94% as effective as their bloated 30-second cousins. Actually, the bulk of 30s out there seem to go on forever, totally overlooking the consumers’ ability to “get it.” Talk about TMI.
Movies have also gone into the “Too Much Info” mode. Did we really need the Lincoln assassination in Spielberg’s Lincoln? Wasn’t the sight of Lincoln doffing his top hat as he walked through his hall and out into the night, the perfect ending? And how many guys did Django need to kill at the end? We got it. Django’s angry. Django Unchained drudgingly morphed into Django Unending.
Sure Budweiser’s Super Bowl winning USA Today Ad Meter spot was a 0:60. But as strong as it was, you could see the ending coming a mile away. Maybe a 0:30 would have left more of us smiling instead of looking for snacks in the last 30 seconds and then smugly nodding when we got to the big reunion.
In reality, most brands try to stuff too many “reasons why” into commercials. Too much of what you might think is a good thing can actually turn into too much of a bad thing.
Twitter, the guardian of brevity, recently released their Vine app which loops easily shared six-second videos. In the right hands, you never know.
I don’t know who said it first, but I’ve been saying it for years, “The more you say the less people hear.” Bill Bernbach said, “You can’t sell a man who isn’t listening.” And that, in a nutshell, is the point.
Maybe if I had mentioned that point 300 words or so earlier, you’d have been just as smart then as you are now. You would have just been smarter more quickly. And the day of smarter-quicker has long since arrived, right Leonard?
]]>Telecom companies across North America deal with a lot of competition in the fight for market share. With new technology arriving on the technological landscape at an unprecedented pace, the giant telecoms must stay on the forefront of innovation to keep their business successful.
Brand Finance, a brand valuation consultancy, rates the world’s brands and determines how each brand fairs on an annual basis. In 2012, the top brand globally was Vodafone, which recent rumors hint that US-based Verizon is interested in, with the North American Giants coming in at close second. See which telecoms make the list in highest brand value in their industries.
1.AT&T
AT&T comes in at number one, with a brand value of $30.4 million. Providing cell phone service to 275 million people, claiming the largest Wi-Fi network in the US and offering AT&T UVerse TV service, AT&T covers the telecom market. Headquartered in Dallas, Texas, AT&T is the 17th largest company in the world. With roots dating back to 1885 and the Bell Telephone Company founded by Alexander Graham Bell, AT&T has the experience in telecom to back its leading position
2. Verizon
Verizon comes in 2nd place reaching a total brand value of $27.6 million. The Verizon brand was created from a merger between Bell Atlantic and GTE Corp in 2000, who coined the name from the Latin word veritas and horizon, and is headquartered in New York, New York. Verizon been providing exceptional wireless service ever since, today serving 290 million with its 3G and 4G networks. Verizon, today, also provides customers with FiOS video (4.7 million subscribers) and FiOS Internet (5.4 million subscribers).
3. Comcast
Comcast, based on brand value, is in 3rd place at $12.5 million. Headquartered in Philadelphia, PA, Comcast was founded by Ralph Roberts in 1963 in Tupelo, MS. Today, the telecom has a variety of business models including owning 51 percent of NBC Universal. Telecom services by Comcast include Xfinity and Comcast high speed Internet (18.582 million customers). Comcast as an organization serves 24.1 million customers and employs 100,000. Comcast has been dealing with the trials of a poor customer service reputation for a couple years, something the company hopes to rectify.
4. Time Warner Cable
Time Warner Cable takes the 4th spot and its brand value totals $9.1 million. Like Comcast, Time Warner Cable’s holding company Time Warner operates in a variety of industries including TV networks, film and TV entertainment, publishing, and telecom. Its cable division, which got its start in 1968, is the second largest cable provider to the United States. Providing 15 million customers with video (12 million customers), high speed data (10.9 million customers) and voice services (5 million customers), Time Warner Cable serves 29 states.
5. Bell
Bell Canada ends the list in 5th place with a brand value of $5,258. Canada’s largest telecommunications company, Bell Canada provides customers with high-speed Fibe Internet, Fibe TV, Satellite TV, Bell Mobility wireless network, Virgin Mobile Canada, and home phone. Headquartered in Montreal, QC, Bell, like AT&T, has roots back to 1885 and the Bell Telephone Company founded by Alexander Graham Bell, AT&T being the resulting company from the American division and Bell Canada the resulting company from the Canadian division. One of two major leaders in Canada’s telecom industry, Bell Canada has seen success from operations.
]]>In an official statement by the Federal Reserve, the federal funds rate – an important benchmark for consumer interest rates – is expected to remain at zero to .25% through mid-2015. With such dire news for consumers attempting to grow their savings with interest offered on deposit accounts, GoBankingRates investigates how Americans can still gain a financial edge despite low interest rates today, and finds seven bank promotions whose value makes up for lowered rates.
GoBankingRates editor, Jennifer Calonia, says, “In today’s economy, it’s important for bank customers to ensure their savings remain priority number one. If the bank can’t offer a savings account rate higher than 0.05 percent, the next question to ask your bank is, ‘What else can you offer me?’"
Calonia adds, "Bank promotions, whether temporarily tied to a product or simply a giveaway, get consumers more for their money.”
The findings in the report uncover seven bank promotions that range in value from $25 to as much as an entire year’s worth of mortgage loan payments.
Offers are from US Bank, Plaza Bank, Sovereign Bank, PS Bank, BBVA Compass, Premier Bank and American National Bank.
#1. US Bank – S.T.A.R.T. Savings
Customers of US Bank can link a new or existing US Bank checking account to the bank’s S.T.A.R.T. savings program for cash back rewards that are rare to find. In order to start saving money, you can either set up standard automatic transfers from their checking account to their savings account, or establish an automatic transfer of $0.25 – $5 per check card purchase.
After reaching the first $1,000 in the savings account, you’ll receive a $50 U.S. Bank Rewards Visa Card. Those who maintain a $1,000 or more account balance in the S.T.A.R.T. Savings fund after a year will receive an additional $50 Visa card — essentially a 10% return in total.
#2. Plaza Bank – Online Bill Pay
The best bank promotions give you perks for the doing the things you’re already doing. At Plaza Bank, customers receive the convenience of online banking features that turn banking into a seamless experience. Their current offer encourages customers to take advantage of the full online banking process with its online bill pay functionality.
Customers who have set up online banking, but do not use automatic bill pay, can receive a $25 Target gift card if they clear three) bill payments online within the month of February, March and April. Those who already use automatic bill pay more than three times per month, must make seven bill payments within each month to still qualify for the $25 Target gift card prize.
While this promotion is already in full swing, it’s apparent that Plaza Bank knows how to reward its loyal customers.
#3. Sovereign Bank – Checking Account Packages
Having options is always ideal, and Sovereign Bank ensures that you retain control of your own financial success with tiered bank promotions that let depositors choose how much cash back they receive.
Upon activating one of three checking account packages by March 31, you simply need to make a minimum of five debit card purchases or one direct deposit processed by May 1. Those who fulfill these requirements receive a cash bonus of $50 – $125, depending on the checking account package selected.
Cited from: http://www.gobankingrates.com/banking/bank-promotions-compensate-interest-rates-today/#ixzz2OshUPw2t
#4. PS Bank – eStatements
Green living and exotic cruises may seem like two totally disconnected concepts, but the team at PS Bank bridges the them together with arguably one of the best bank promotions available. Those who sign up for eStatements will be entered into a drawing for a 3-4 Night Bahamas Cruise with Royal Caribbean with a guest.
It’s as simple as that. The promotion is scheduled to run until April 15, 2013 and the winner will be selected at random.
#5. BBVA Compass Bank – Checking Account
Most financial institutions, especially big banks, have eliminated high deposit interest rates and rewards programs from checking account product features. At BBVA Compass Bank, customers receive something else that’s just as helpful: A Kindle Fire HD tablet. Simply open a new checking account with the bank and provide a minimum $25 opening deposit. Then, make three qualifying payments and setup one direct deposit into the account within 90 days to receive a Kindle.
These types of bank promotions help you regain the financial advantage regardless of low interest rates today. And the incentives don’t stop there — mortgage loan bank promotions are extremely popular these days, as the housing market begins to see improvement.
If you’re in the market for a new home, look into the following bank promotions that add significant savings to your bank account.
#6. Premier Bank – Mortgage Freebie
Premier Bank’s current Mortgage Madness TV Giveaway promotion offers customers the chance to win a free 42″ flat screen TV. There are two ways to enter: 1) Submit a mortgage or refinance application, or 2) Fill out an entry form at a Premier Bank location.
One entry is permitted per person, per day, so increasing your chances of winning one of three TV prizes is easy. There is also no purchase necessary to enter or claim the prize.
#7. American National Bank – Mortgage or Refinance
Mortgage payments are usually the biggest monthly expense homeowners contend with, and can be difficult to manage despite today’s affordable interest rates. American National Bank provides its customers with a generous opportunity to win $1,000 mortgage payments for an entire year.
When you open and activate a mortgage loan, mortgage refinance, home equity loan or home equity line of credit from now until the promotional period (December 31, 2013 at 6:00 p.m. Central Standard Time), customers are automatically entered into the drawing. The total cash value of the prize is an impressive $14,000.
With so many bank promotions, rewards and prizes waiting to be claimed, there’s no reason to let interest rates today hinder you from getting more for your money.
]]>Tan co-founded Razer in Carlsbad, Calif. in the mid-2000s, and since then, he’s been the mastermind behind transforming a tiny peripherals company into one of the world’s most innovative video game brands.
“When I approached my parents with what I wanted to do, they were resistant to say the least,” Tan said. “I grew up playing video games, but my parents weren’t alone when they thought there was no potential in it. I think they’d be the first to admit that they were wrong.”
A THRIVING INDUSTRY
Tan jumped into a gaming business that has grown exponentially since he helped found Razer in 2005. More than 300 million people play PC games worldwide today, putting Razer in a position to use its resources to fill the needs of gamers everywhere when it comes to designing hardware, software and systems.
The gaming industry recently surpassed the motion picture business as the most lucrative arm of the entertainment sector. Not surprisingly, game developers across North America are creating content for all sorts of devices, from PCs to consoles to tablets to Smartphones.
“It’s been surreal to watch gaming go from a hardcore niche to a mainstream audience,” Tan said. “You watch previews for upcoming video games, and it’s like you’re watching a nine-figure movie trailer. That’s part of what’s inspired us as a company to develop such groundbreaking product. We need to keep up with the developers.”
LEADING THE CHARGE IN PC INNOVATION
It hasn’t been easy, however, to make true innovation possible in the computer systems space. Tossing aside conventional hurdles like finding the right engineers and overhead costs, Tan and Razer also had to fight conventional thinking when it came to pushing what he calls “true innovation.”
“The PC giants listened to the general consumer who wanted products cheaper and cheaper. They cut their costs, outsourced their tech and design to external manufacturers,” said Tan. “We’re left with less innovation, less technology and the commoditization of the PC.
“Today, none of the PC giants dare to push the envelope of technology for the PC because they are afraid that no one will buy it. It's up to us to make the difference.”
DESIGN PHILOSOPHY
With that mindset at hand, Tan went about investing in systems and software engineers to transform Razer from a peripherals company to a gaming company. Razer scooped up engineers from OQO, a former U.S. computer hardware company known for making the smallest and most powerful personal computers the world had ever seen.
That ingenuity was vital when it came to Razer bringing to market the Blade, the thinnest and lightest gaming laptop in the world, and the Edge, the most powerful tablet in the world and the overall 2013 “Best of Show” winner at CES.
“What we do from a design perspective is insane,” John Wilson, VP of Systems at Razer and former OQO engineer, said. “Nobody spends the proportion of available resources on design like we do. Is it profitable? No, but it’s what allows us to push the envelope forward when it comes to true innovation.”
A CULT FOLLOWING
A mentality to create the best product at all costs naturally endears a consumer to a company, and the Razer brand has managed to build a ravenous and active cult-like community.
Razer’s Facebook fanpage (www.facebook.com/razer) itself has more than 2 million fans, while Tan’s unabashed views on gaming in general have earned him close to 200,000 fans on his fanpage (www.facebook.com/minliangtan) where he regularly engages with the community directly.
“It keeps things interesting, being so involved in what the people want to see,” Tan said, “and it validates our brand and the industry we’re involved in when so many people actively participate in moving the gaming discussion forward.”
E-SPORTS
The flourishing industry has also had a massive ripple effect on individuals involved, most notably in the realm of what’s known as e-Sports. These cyber athletes forego traditional athletic wear in favor of a mouse and keyboard.
Behind the guidance of Tan, Razer’s growth can be closely tied to the explosion of e-Sports worldwide. Growing from Local Area Network (LAN) parties in friends’ garages, e-Sports has evolved into an international phenomenon, with arenas throughout North America hosting prestigious gaming events.
Last year at the Galen Center in Los Angeles, for example, a $2 million prize purse was awarded to Season 2 finalists for the game League of Legends. A pair of Razer-sponsored teams competed in the finals, which is becoming commonplace at professional gaming events, by virtue of Razer’s unparalleled support of players in the space.
“We sponsor 400 gamers in 35 countries worldwide, with some of the biggest teams and names fighting for Team Razer,” Tan said. “These e-Sports players are not the standard geeks playing in a basement. Many of them are international icons – celebrities even – who command six- and even seven-figure salaries.
“They treat the gear they use like a professional basketball player treats his shoes. Naturally, they’ll gravitate toward us and our industry-leading product with so much at stake.”
THE FUTURE OF GAMING
While e-Sports figures to continue to grow and play a part in the development of gaming, it doesn’t answer the question as to where the industry is heading. Tan thinks his field is converging, with devices that can do more than just play games in a single fashion.
Razer’s latest big product, the multivariate Edge, is a step in that direction, but there’s plenty of room for improvement to meet the demand of insatiable PC users worldwide.
“My idea for a perfect device is one that I can easily take with me and one that I can do everything on,” Tan said. “The Edge is the closest thing to that on the market right now, but I’d love to see a high-powered PC in a Smartphone form factor.
“We’re not there yet, but if you give Razer and our crack engineering team some time, I’m fully confident we’ll be the true innovators for PC gamers – and users – everywhere.”
]]>Visual Branding: Pinterest is about the visual aspects of your company. It is a visual representation of the personality, mission, and point of your business. Your pins are supposed to entice ‘pinners’ to re-pin, like, comment and ultimately follow your business on the visual-centric social media site. Make sure your social media manager is rooted in the mission of your company and has the prowess to grow the personality of the company through the visual space.
Research: It is important to remember that it is okay to research what your competitors are pinning. What’s working for them? Figure it out and recreate the strategy for your business. Don’t duplicate, imitate. Figure out what will work for your company and run with it.
Hashtags and keywords: Pinterest has a search bar that allows user search pins, boards and people that include the keyword being searched. Optimizing your descriptions and also your “About” section make you easier and more likely to be found. Also, adding your website URL in the description of relevant pins will bring you more site traffic when your pins are re-pinned by awesome pinners.
Add a “Pin It” button to your content on your website: The easier it is for people to share your content, the more they will share it. Pinterest is growing at a rapid rate, and people are pinning at a ridiculous pace – by making it easy for pinners to share content you are able to take advantage of the free marketing Pinterest offers. It’s a no-brainer.
]]>