businessworkupdates-blog

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LETS PROMOTE SOCIAL DISTANCING FOR SAKE OF COMMUNITY

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COVID- 19: CRA HELP FOR CANADIANS

This blog will provide you brief information about benefits that CRA is going to provide in case of this hard time. 

Government of Canada has been planning to provide temporary support for Canadians and Businesses:

A) TEMPORARY SUPPORT FOR WORKERS AND PARENTS

CRA has temporarily waived 1 week waiting period while applying Employment Insurance (EI) Sickness benefits effective as of March 15, 2020.

There will be no requirement of providing medical certificate for applying EI sickness benefits.

There will be a temporary care benefit to $900 per 2 weeks for up to 15 weeks. This benefit will be available to the Canadians who comply to following conditions:

Workers (including self employed people) who are sick or quarantined due to COVID- 19, but are not eligible for EI sickness benefits.

Workers (including self employed people) who are taking care of sick member of the family due COVID- 19 like elder people, but are no eligible for claiming EI sickness benefits.

Parents who are seeking child care support for their children but are unemployed due to COVID- 19, and are not eligible for EI sickness benefits.

The application for this benefit will become available in April 2020 and you have to prove the eligibility of the benefits.

There are 3 ways to apply:

1. Applying through ‘CRA My Account” secure portal.

2. Applying through ‘Service Canada My Account’ secure portal.

3. By calling toll free number equipped with automated application process.

I will have a different post on EI sickness benefits and eligibility.

B) LONGER TERM SUPPORT FOR CANADIAN WORKERS

CRA will provide $5.0 Billion support for people who are unemployed due to COVID- 19 but are not eligible for EI benefits.

CRA will implement EI sharing program which includes providing support to the workers who have reduced working hours as compared to normal hours, by extending the eligibility of such agreements to 76 weeks and making the process more effective and efficient. (announced by PM on March 11, 2020) 

C) CHILD SUPPORT BENEFITS (CCB)

There is a increase in CCB benefits for parents with children. CCB benefits has been increased by $300 per child which in short means increasing CCB benefit on average price of $550. These families will also receive the $300 per child of May payment for CCB. In this case, government will introduce $2.0 Billion of more child care support.

D) GOODS AND SERVICES TAX CREDIT (GSTC)

CRA is initiating to provide GSTC for early May payment to Canadian workers. This step will double GSTC for Canadians for period of 2019-2020. The benefit would be close to $400 for single individuals and $600 for couples.  In this case, government will introduce $5.5 Billion of more GSTC in economy.

E) REGISTERED RETIREMENT INCOME FUND (RRIF)

Government has reduced the minimum withdrawal limits from RRIF by 25% for 2020 which will provide flexibility to Canadian seniors who are more concerned to liquidate their assets in RRIF in order to meet the minimum withdrawal limits.

F) SUPPORT FOR HOMELESS PEOPLE

Government will fund $157.5 Million in order to provide support homeless people  due to COVID- 19, this initiative will include providing accommodations and providing beds and daily support needs.

G) LOAN REPAYMENT

Government has given relief on making Canada Student loan payments for six months. CRA has placed a 6 months interest free moratorium on repayment on students loans. 

LINK FOR MORE INFORMATION: You can get more knowledge on site of CRA by clicking on following link:

https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html

You can share your comments on this blog in comment sections.

Thanks for your time.

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CRA Actions for Non-payments

CRA may take legal actions in order to collect the tax debt that you have to paid.

Before taking legal actions:

CRA will make 1 verbal attempt by calling.

After verbal attempt, CRA will make next attempt to reach the tax payer by written attempt.

CRA does not take legal action until 90 days after the mailing date of Notice of assessment or Notice of reassessment. 

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COVID- 19 UPDATES- COLLECTIONS AND AUDITS

CRA has annouced latest updates on ongoing updates on tax side.

As per Canada Revenue Agency (CRA), flexible payments arrangements will be available. If the taxpayer is required to file a return, make the payments on filing as well on a particular due date, but due to current specific circumstances of COVID- 19, if taxpayers are prevented from making payments by due date or filing the expected return, they can make request to waive interest and penalties on filings and late payments after due date by submitting the form named RC4288 (Request for Taxpayer Relief)

However, As per CRA, taxpayers should file their return before due dates in order to prevent late filing penalties. But there are payment arrangements available by CRA if taxpayer has not paid balances owing or due before April 30, 2020 based on the specific circumstances like taxpayer had tried enough to borrow money from lenders to pay the tax debt or you have enough tried to rearrange the financial affairs.

HOW TO MAKE PAYMENTS ARRANGEMENTS WITH CRA:

1. Making pre-authorized debit arrangements with CRA by logging into My account.

2. Call CRA for Telearrangement service of payments at 1-866-256-1147 Monday-Friday 7.00AM-10.00PM, eastern time. All you need to provide is following details to CRA while telereporting:

SIN

Date of Birth

Amount reported on line 15000 of your previous year’s tax return. (You can also see this line on Notice of Assessment of last year.)

DEBT ARRANGEMENTS WITH CRA:

Call CRA debt management service number at  1-888-863-8657 to speak to an agent from Monday to Friday, 7.00AM-11.00PM, eastern time.

LINK: https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update/covid-19-collections-audits-appeals.html

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MAJOR CHANGES IN ADVERTISING STRATEGIES AND TECHNIQUES DURING THE LAST DECADE

I am surprised how the technology has been so advanced in this time. Due to the new scientific researches, everything has become so fast. Following are the major changes in advertising strategies that can be witnessed.

1. Mobile technology

 “Steve Jobs delivered his most iconic device” which is I -Phone which has revolutionized the way people connected, exchanged and shared their opinions, beliefs and information. Marketers have become responsible for generating mobile revenues. Ads are a perfect fit in the mobile devices as brands can easily reach its targeted audience through mobiles.

Picture source(Website): LinkedIn

2. Data-Driven  marketing

In this modern era, “show me you know me” culture is here, people share all their information with others.

As a result, there is change in the way how they think of brands. Now, they expect brands can raise their standard of living because advertisers know their taste.

They assume that the experience in ads and content are just created for them. There is a video that I searched and it will provide you some depth into data-driven marketing.

3. Keep it simple and clear

I realized that more clear and simple an advertising is, more it attracts the customers. If the ads are full of huge designs. Simple advertisements are easy to understandable by the consumers.

There are 2 pictures:

First picture:

Picture source (Website): YouTube               

                                     (Clear/Simple/Easily Understandable)  

Second picture:

Picture source (Website): Amazon.com    

                                         (Fully Messy/Include a lot of stuff)

Which one of above 2 pictures will you find more appealing and simple?

Most of you will choose first one, as the 1st picture of ad is more appealing as it is clear, easily understandable and without any mess. Even I will also choose the first one.

·But, on the other hand, if we have a look at 2nd one ad, I think that it is full of mess, not showing the main idea as a single ad contains plenty of pictures inside it.

4. Consumers have become New Spokespeople

  Social media trend has given chance to advertisers to keep an eye on the likings and demands of their targeted audience. Social media facilitates people to comment as per their experience regarding a product.

  Picture source (Website): Marketing Interactive 

One thing is clear that in the next future, the progress and technology might be faster than during the last 10years.

I think technology has revolutionized the way businesses advertise and interact with the target audience.

There is a short Quiz based on advertising.

(Widhelm, 2015)

I hope you will like this post and quiz. I will be wondered if you add some own views by commenting. In this way, you can share your thaughts with me and other people which will enhance our knowledge about trends in advertising strategies. 

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EFFECTIVE ADVERTISING STRATEGIES FOR NON-PROFIT BUSINESSES

Money is always a major concern if you are involved in marketing and advertising of a non-profit. There are the following strategies that you can adopt to get people engaged in donating and raise money.

1. Take the benefit of Google Ad Grants program

In order to facilitate eligible non-profit businesses, Google Ad Grants program offer non-profits up to $10000 per month for text-based advertising. Ad Grants are in 2 flavours:

AdWords Express: It might be best option for you if you want to get going with a minimum of fuss. This service automatically picks where and when your advertisements appear.

AdWords: This one help you when you want to spend more time managing your advertising. (Horne, 2017)

Picture source: Digital.com

2. On Your Facebook Page, get a “Donate Now” Button Added

Due to the advancement of technology, Facebook has introduced its new feature “Donate Now” button. This button is a perfect way to legitimize your non-profit and solicit revenue. In order to get this benefit, your Facebook page must set to ‘Not-Profit Organisation’.

Picture source: http://www.nptechforgood.com 

3. Spread the Word Through Events and Speaking Engagements

If you are non-profit, then you have no enough money to organise campaigns. So, you can utilize that handful of money to create events and speaking engagements that are a lot more economical and do an excellent job of spreading words to large group of people.

“You could apply to talk at a local TedX event.”

 (Suggett, 2017)

4. Door to Door Advertising

This is one way which is less costly and but require efforts. You can have a personal touch with a lot of people and ask them for their contribution to the donation.

When I was in India. Then I was in 11th standard. My parents had gone to work and one member of a non-profit organisation knocked the door to ask for a donation and I gave him Rs.200 at that time from my pocket.

If you are running a non-profit organisation and worried about how to get people engaged in giving donations, I think should apply the above strategies that I have discussed as I think these are less expensive and more effective.

I will be really very happy if you share with me some views of yours which one of my above discussed strategies seems more influential to you. 

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EMOTIONAL ADVERTISING: THE RECENT TREND

Every individual possesses different reactions on different situations of life. Emotions have a drastic importance in advertising too.

Studies show that Ads having emotional responses are more influential on customer’s intent to purchase rather than just text ads.

HOW EMOTIONS PLAY MAJOR ROLE IN ADVERTISING :-)

1. Happy

Brands want to have a positive image in the market by having happy, smiling and laughing emotions in the advertisements. When, Coca-Cola changed its tagline from ‘Open Happiness’ to ‘Taste the Feeling’, it mainly keeps focusing on happy images of people engaging each other.

In the following video, it shows how Coca-Cola gives the pleasure to the people on Christmas day. Even the schedule of people on Christmas is fully busy, they don’t say no ‘Coca-Cola’ as it gives satisfaction and pleasure to their soul.

2. Sad

Brands have recognized the trend of emotional advertising in the past few years. So, more and more businesses have considered to make inspirational and motivational ads to induce the stimulus of people and inspire them. There is a World’s Best Emotional Video below:

 4. Afraid/Surprised

There are certain videos which have such kind of shocking and horrible content which stuck in the minds of ad viewers. Especially, the main purpose of making such advertisements is to prevent people from leading to unpleasant way which can affect their lives in an undesirable manner.

Picture Source: TV Tropes

4. Angry/Disgusted

There are some of the advertisements of brands which contain disgusting content, such kind of ads are usually less viral as it makes the people frustrated and angry. People unlike such kind of negative ads. We become angry when we see an injustice or a person is hurt which causes outrage.

Even I got angry when I saw the following ad of KFC on chicken which was fully disgusting. Here is the link below:

https://www.independent.co.uk/life-style/food-and-drink/kfc-advert-the-whole-chicken-ad-tv-outrage-disgusting-fast-food-chain-a7859321.html

(Oetting, 2017)

I think emotions play a big role in advertising world. Do you observe any fluctuations in your emotions after watching pictures,videos and links in this post? 

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BEST ADVERTISING STRATEGIES FOR NEWLY LAUNCHED ONLINE BUSINESS

When you have launched an online store finally, you have a desire to make it popular promptly. Though you apply unique style and amazing design to your product, yet it is harder to get a market too quickly. Advertising ids one of the best way to make your product faster even when you have just started.

SEO, social media and e-mail marketing will all help to get a huge traffic to your online store.

Online shops need to adopt advertising strategies in the form of following levels:

1. Tracking

There is a perfect tool named Google Analytics, it enables you to see where visitors come from and what they do on your website. You are required to add extra parameters at the end of your links. That way, you will easily get to know where each visitor come from. This technique is also used to track the visitors who have visited your site via links from other sorts like social media or e-mail.

2. Retargeting

 Targeting with Facebook Ads

You need to install Facebook Pixel. This feature allows to know which visitor has visited which pages on your  site. Facebook records visitors, that is why, businesses can set an audience.

Source of picture: Ecommerce Platforms 

Targeting with Google Remarketing

Google needs to know who visited the site in order to show your ads. Here too, you have to set an audience. Unlike Facebook, here you have this option to go deeper to see what these visitors did on your website.

Source of picture: Ecommerce Platforms

3. Google Shopping                                                                    

I have realized that the eyes of people are more sensitive to the pictures and videos rather than of just written content. Instead of posting just text, if the online businesses post pictures of the products along with the text, it will help to attract a large pool of customers. As customers want reliability, they want to ensure that the product they are purchasing matches their demand and type. Google Shopping Campaigns are becoming more and more important nowadays.  

                                Picture source (Website): Wyomind

4. Facebook Ads

There are a lot of stores who have posted a number of advertisements over Facebook as it is a worldwide popular app. There are plenty of people who just look up on the ads posted on website, they got attracted but they didn’t want to spend money on those.

Even I am one of those people. I usually like floor marketing as I consider there is more security, authenticity and less chance of frauds.

In this case, online businessmen need to find the customers who have potential to buy. There is a free tool in Facebook which helps to identity the audience which is named Facebook Audience Insights.

5. Paid Search

So, the last one is Paid Search

Here, you are required to focus on two facts:    

Find Profitable Keywords: Here, you will be required to search the keywords which are relevant to your store. Google Keyword Tool can be used to get an idea of different keywords that people use to search for their product.

Create great ads: This means that more great, relevant your ads and landing pages will be, the more people will click

 (Moons, 2018)

In my view, fresher businesses should apply these strategies as these may facilitate them to gain more customers.

Hope this post may add value to your knowledge about advertising strategies!

Let me know if you have some own opinions about advertising strategies for new online businesses.

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BRILLIANT BUSINESS ADVERTISING STRATEGIES TO OUTSMART YOUR COMPETITION:

It is always said that competition is good for the business as it encourages business leaders to do innovations in their product and give their best.

“A part of the fun of rivalry is stealing customers from your rivals.”

In this world, competitions may be like Coke v. Pepsi, Adidas v. Nike, Apple v. Microsoft etc.

1. Disrupt Videos of Your Competitors with YouTube Ads

A few days back, I was watching funny videos and ads on YouTube. As I was watching the funny videos continuously one by one, some of the funny business ads popped in along with those entertaining videos and I started watching those business ads which were full of fun and laughter.

Suddenly, while watching videos, a funny ad of Nokia showed up on my screen and its title was “funny ads: Nokia is mocking the competition companies”. This head encouraged me to watch the video. I wanted to know what’s the competition of Nokia and how it beats its competition by an advertisement. In that ad, Nokia launched its new phone Nokia Lumia 925 targeted phones like Apple I-phone, Samsung Galaxy and a couple more as competition.

2. Use Google Display Network to Reach Your Competitors’ Audiences

Google app has a wonderful display ad technology. Google’s custom affinity audience feature can be used if you want to beat up on your competition.

Affinity audience helps the businesses to aim at a predefined audience.

3. Target Twitter Followers of Your Competitors

There are certain tools on the Instagram which help to get a plenty of followers for own account. One of these is www.birdsonganalytics.com.

So, the businesses can easily export the list of its competitor’s twitter followers to CSV by using BirdSong Analytics. Basically, the cost starts from $35 and rises as more as the followers the account have. You can also create ads on twitter to attract your competitor’s followers. 

Infact, I think twitter is becoming more popular among people as they can tweet, have connection with plenty of people and is a good channel for advertising. 

Picture source(Website): adespresso.com

4.Focus Facebook Users Whose Interests Include Your Competitors

Interest based targeting is something that Facebook offers to its users. In this case, business’s specific interest is its competitor’s name which they want to target. Interests range on Facebook is from extremely broad (e.g., business or entrepreneurship) to very specific.

Picture source (Website): wordstream.com 

(Kim, 2018)

I think that the above mentioned strategies might prove in a very effective way to get rid of your competitors.

Hope you would like this post!

 I might be happy to know your views on this post.....Is it helpful to you or not?