Craig Hanson CPA - June 2023

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June 2023

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GONE FISHIN’

Drop a Line and Stay for a While!

Can you believe the spring we had?! When you think of spring, you may think of blooming flowers, pollen, beautiful bird songs, and warm

Yellowstone, which was incredible. The scenery around us as we cast our lines was breathtaking. I can’t wait for our next adventure! The funny thing about fly fishing is that people around here don’t usually do it. I remember I was at a lake fly fishing, and it was hilarious to see the looks on people’s faces when they saw what I was doing. They had no idea what was happening — I’m sure they thought my fishing rod was broken! I love fishing because it allows me to relax and decompress. I don’t know what it is, but something about being next to a body of water rejuvenates me. Hearing the sound of the ocean and seeing the calmness of a lake or pond will never get old. It doesn’t matter where I am; East Coast, West Coast, or international — as long as I’m beside a body of water, it feels like home. Additionally, it doesn’t matter if I catch a fish or not. Just the act of fishing itself brings me joy — reeling in a fish is just a bonus! So, as my wife and I pack up our camper and began taking more adventures, you already know my fishing pole will go with us! I’m looking forward to fishing this summer, and I’m hoping my son and grandson will join me on a few fishing trips! My grandson just turned 7 years old, and it seems like he’s been fishing since he was born — it comes naturally to him!

weather. But we experienced the complete opposite! It’s like we were living in a winter

wonderland with all the snow and ice we had! At the beginning of May, we finally saw all the snow melt away — it seemed like the cold weather would never leave. But as I see the bright green grass, hear the sound of children playing outside since school’s out, and feel the sun blessing us with warmth, I know summer has finally arrived! And do you know what my favorite thing to do in summer is? Fishing! Ever since I was a young boy, you could always find a pole in my hand. My father was an avid fisherman and passed on the hobby to me. Many of my fondest memories with my dad revolve around fishing. I loved how he and I would stop everything we were doing just to sit by the water on a sunny day. We would talk about life, share stories, and enjoy each other’s company. I am so thankful I could spend that time with my father. I probably wouldn’t be a fisherman today if it weren’t for him! But my dad and I weren’t the only ones in my family who loved to fish — my brother does, too! In fact, the first time I ever went fly fishing was with my brother. We went to Deadwood, South Dakota, and learned about the techniques and skills you needed to fly fish. After my brother and I got the hang of it, we couldn’t stop doing it! We then began traveling to different places to fly fish. We even went to

What is your favorite thing to do during the summer to relax? Do you like to fish? If so, where are your favorite places to go? Maybe we can go fishing together sometime in the future!

Happy summer, everyone!

–Craig Hanson

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Improve the Impact of Your Email Marketing SUBJECT LINES MATTER

You spend valuable time and money on your email marketing, but your efforts will go to waste if your customers don’t open your messages. Your open rate is one of the most critical email metrics, and the single best way to improve yours is by writing compelling subject lines that make your customers want to click. So, how do you spark curiosity and stay out of the spam folder? A 2019 study by market research group Radicati found that the average person receives 96 emails daily, and your business is hardly the only one trying to convince them to buy something. Your customers will likely spend only seconds deciding whether to open your email, delete it, or report it as spam. You must capture their attention quickly and give them a reason to click. Writing the perfect subject line isn’t easy. What works for one industry or demographic may not work for another. But you should always try to follow three simple rules. No. 1: Keep it short. Email platforms will only display so many characters of your subject line before cutting it off. Therefore, a long subject line is inadvertently ensuring your message gets lost. Further, your customers quickly decide what they will open and discard. They’re more likely to delete your message if it seems confusing or complicated, so make it bite-size and easy to digest. Experts recommend you keep your subject lines to 60 characters or less. No. 2: Spark urgency. Customers are most likely to open an email within 24 hours of receiving it. After that, they will likely assume it’s irrelevant or forget about it. So, you want to use language that inspires them to read it immediately. At the same time, be careful of

overusing all-caps and exclamation points; these are hallmark signs of spam, and your customers could mistake it as such. Further, if every email announces itself as your customer’s “last chance,” you’ll lose trust, and people will tune out. No. 3: Be specific. Research indicates that people are more likely to open personalized subject lines. So, when possible, address your customers directly with their name or the word “you.” Further, teasing information is risky and can leave people unmotivated to open the email and learn more. Provide details like the specific product or service on sale or how many hours or days an offer will last. For example, more people will find “Only 48 hours left in our sale” compelling than “Our sale ends soon.”

Learning to craft effective headlines won’t happen overnight, so give yourself time and room to make mistakes. One of your best resources is A/B testing: You develop two subject lines, send them to different customers, and then compare their performance. You’ll find what drives your customers to click by monitoring your metrics and adapting your approach.

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FROM ‘SHARK TANK’ REJECT TO STAR CEO HOW MELISSA BUTLER OVERCAME FAILURE

Melissa Butler, CEO of skin care and cosmetics company The Lip Bar, had her first brush with fame when she appeared on a 2015 episode of “Shark Tank.” But it was almost her last. The “sharks” not only didn’t like her idea — they mercilessly skewered it. Butler’s journey began in 2012 when she decided the beauty industry needed more diversity and natural ingredients. So, she started mixing her own lipstick shades in her kitchen. But when she presented her bold and beautiful creations on “Shark Tank,” the experts called them “clown makeup.” Kevin O’Leary, also known as “Mr. Wonderful,” was particularly harsh. He told her the cosmetics market was oversaturated and that she should quit while she could. Never one to shy away from a challenge, Butler did no such thing. She knew

Black women and other women of color wanted cosmetic options that better suited their skin tones and continued making her vegan, cruelty-free, and affordable lip products. Butler did not find success overnight, and it might have seemed the sharks had a point. But she began to make headway into retail outlets, and in 2022, The Lip Bar closed $6.7 million in seed funding. The company now has a flagship store in Detroit and sits on shelves in over 500 Walmart and 750 Target stores. Butler announced in early 2023 that The Lip Bar is now the largest Black-owned makeup brand on Target shelves. Former first lady Michelle Obama and actress Taraji P. Henson have both worn the company’s shades. As her company continues to expand and roll out new products, Butler doesn’t

shy away from her less-successful past — she actively celebrates it. The Lip Bar CEO regularly tells her story and even placed a billboard in her hometown of Detroit, noting how she beat the odds. It read: “‘Shark Tank’ told me to quit. 10 years and 2 million units sold. Thanks, Mr. Wonderful.” These days, even Mr. Wonderful is on board. In a 2022 interview, O’Leary admitted that he got it wrong. “They were facing an almost impossible task,” he said. “They pulled it off, so you gotta applaud them.” Impressed by how she beat the odds, MarthaStewart.com asked Butler last year what advice she had for other entrepreneurs. “Keep working towards your goals,” she responded. “Because your idea will never become reality if you don’t do it.”

HAVE A Laugh

THE ORIGINAL RAP BATTLES How Disses Became Poetry

Long before diss tracks, rap battles, and “yo mama” jokes, there was medieval “flyting.” Defined as quick exchanges of witty insults, these poetic slights were popular in England and Scotland from the 5th to 16th century. Flyting became entertainment for royals and was dubbed “court flyting.” While these jests are not well-documented, one flyting event made history. The iconic exchange occurred in the early 16th century between William Dunbar and Walter Kennedie. If you’re wondering what exactly these two “gentlemen” were saying, it would be difficult to quote without including expletives. However, one tame section can be shared here. Dunbar insulted Kennedie by saying: Maggoty mutton, gorged glutton, scurrilous certain heir to Hillhouse, Rank beggar, oyster-dredger, dismal debtor on the lawn, Lily-livered, soul-shivered, cheap as slivers in the millhouse, Bard baiter, thief of nature, false traitor, devil’s spawn.

Now that’s one sick burn!

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905 James Ave. NE • Jamestown, ND 58401 (701) 252-6190 • CraigHansonCPA.com Inside This Edition

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If You Need Me, I’ll Be Near the Water! Why Your Email Marketing Subject Lines Matter The ‘Shark Tank’ Contestant Who Didn’t Give Up The Colorful History of Medieval Smack Talk Short-Form Video: More Than Just a Fad

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Short-Form Video Marketing Is Taking Over LIGHTS! CAMERA! SALES!

Any business incorporating the best marketing practices has been using videos to connect with its customers for years. But with the advent of TikTok and Instagram Reels, people want bite-sized clips to deliver information without fluff. Businesses looking to keep audiences engaged must begin incorporating short-form content into their marketing strategy.

Many people new to short-form video don’t know where to start, so it’s crucial to note that it’s about more than making briefer versions of your existing content. Encourage user-generated content from people using your product, show behind- the-scenes clips that might interest your audience, or quickly answer a frequently asked question. If you want to stay relevant, your marketing team should remain on top of the latest trends. We don’t recommend jumping on the bandwagon for every “challenge” that appears on your feed, but you should watch for trends that fit your brand and will resonate with your audience. Finally, remember that authenticity is the point. Short-form videos should be playful and spontaneous and talk directly to your audience. Users won’t connect and share if it looks like a TV commercial; they’ll see it as just another ad and keep scrolling.

Most experts define short-form video as lasting 60 seconds or less, and Influencer Marketing Hub reports that 73% of internet users prefer them to longer videos. Social media has conditioned people to enjoy brief content that quickly gets to the point, and TikTok purposely shows users video after video. The format is also taking over other platforms, and users find loosely scripted, on-the-fly content more relatable than meticulously produced videos. Fortunately, research indicates that short-form videos attract more engagement than static images. These are low-budget videos, so many marketers believe they have a higher return on investment (ROI) than traditional videos and are more likely to result in a viral hit. Best of all, the shorter the video, the more likely someone will watch until the end and absorb your entire message. But if your video doesn’t quickly grab a viewer’s attention, they know another potentially more interesting one will immediately follow. So, your videos should incorporate an instant hook to get users engaged. You might try a provocative question in the text over the video, an attention-grabbing song, or striking initial imagery.

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