Small businesses are considered the backbone of the American economy. The Conway Center for Family Business estimates that as much as 35 percent of Fortune 500 companies are family operated. In fact, it is thought that small businesses, many of them family-owned, employ roughly half of the American workforce. Many people prefer to patronize small or family-owned businesses because of their unique offerings, personal connections and quality customer service. Running a family-owned business can be difficult for many reasons. However, you can take your company or business to the next level by making smart decisions to intentionally market your product. Every savvy family business owner can benefit by considering any of the following:
What sets you apart?: Is your family business based on a secret recipe? Was your business’ success built on a special product? Whether you own a restaurant started by your grandmother or are carrying on the family law firm founded by your father, identify what makes your business unique and market it.- Are your employees “part of the family”?: This is not to say that every employee should be a family member. However, employees should always promote the brand and core values of your business.
- What is most important?: Even the smallest of businesses should have core values. The communication of these values, through quality goods and services, is the hallmark of family-owned businesses across the country. Every interaction with a customer is an opportunity to indirectly speak to what is most important to you and your family business.
- Do you go the extra mile?: Customers may choose to patronize a small or family-owned business because of the service and connection that they feel with the owners. It is important for business owners of all types to differentiate their goods and services from the competition. Get to know your customers and their families, make every client feel valued and take extra steps to accommodate those who require special attention. Going the extra mile will result in clients coming back again and again.
If you own a small business or are running a family-owned operation, it can be extremely useful to evaluate your marketing plan or lack thereof. After considering the above questions, it may be clear that your business can benefit from an experienced and knowledgeable media and marketing team working on your behalf. We can help you answer these questions and determine how to grow your brand and customer base. The mission and passion of your family’s business are the keys to your success. If you know how to correctly communicate this to your client base, repeat customers and increased profits will follow. Even you are managing a well-established family business, it may be time to inject some life back into the operation. Want to learn more? Reach out to us and learn how we can help your family business.
The word “selfie” has quickly become ingrained in the American vernacular, ushered in, mostly, by millennials snapping photos of themselves doing everything from sipping a latte to riding a roller coaster. This trend was bolstered by social media sites, including Facebook and Twitter. However, no social media site has played a larger role in the selfie phenomenon than Instagram.
One of the biggest benefits to using Instagram as a marketing tool is that it is completely free and very simple. In just a few minutes, users can create a user account, connect with their existing Facebook account and begin sharing photos with the world. This offers the opportunity for a business to do any or all of the following to attract new clients:
Many small businesses use Instagram as a storefront to “display” new products and ideas. You can share the “story” of your company or share the passion that you have for your business through photos. It is a free way to visually portray to your potential clients why they should consider your company. It is fast, free and has unlimited potential, in terms of the amount of people you can reach.
The famous grocery store Whole Foods has recently announced a new nationwide marketing campaign, centering around new commercials that showcase the corporate values of the chain. Whole Foods has never needed to launch a national campaign to boost sales, but lately the chain has struggled.
The grocery store has been nicknamed “Whole Paycheck” because of the high prices. However, the store has a faithful following among those who appreciate the high-quality brands, organic selections and fresh foods. These loyal customers are not enough to offset the disappointing sales that have plagued the store in the recent months. The new ads will showcase the high ethical 
standards maintained by the chain regarding their values, standards for food suppliers and other important factors. They hope that this new ad campaign will help potential customers understand what sets this chain apart: High-quality foods and high standards.
There are lessons to be learned from Whole Food’s approach to advertising. Instead of promoting lower prices and sales (which they are offering, regionally), the store is attempting to connect with consumers on a whole different level. They are promoting some of their core values as a company: sustainable farming, locally grown produce and more. It is hoped that this will attract more health-conscious consumers, bring in new customers who care about their food source and bolster the fledgling sales numbers.
The benefit of having core values, even as a business, is that it acts as a compass for all of the decisions and actions of the company. The values of the company, either stated or those enforced by management, will be the guiding force of a business. The intrinsic worth of a stated, thoughtful and intentional set of standards or values cannot be overstated. As in the case of Whole Foods aspirations with the new ad campaign, your company values could make the difference between attracting new customers or blending in with the competition.
The business world is like a horse race. Everyone is running, trying to get ahead, jutting out their nose just to finish millimeters ahead of the competition. If a horse falls, pauses, hesitates–even for a second–they may be out of contention altogether. Like a horse race, pulling ahead and winning in business can be quite profitable but can also be exhausting. Just moments after a victory, the questions will begin:
One victory, successful product or popular service, big or small, and the pressure begins to mount. People are looking for improvements, changes and the next big thing. If a business fails to differentiate, improve and move ahead, it will once again blend in with the others in the pack, all straining to outdo the other.
Move on. Did you make a mistake? Did a product fail or an idea fall flat? That’s okay. Every company makes mistakes, but the successful ones move on. Disney has made bad movies and Apple has released defective software updates, yet they are some of the most successful companies on the globe. Learn from your missteps, but do not despair.
one task at a time, and it is likely that you will see these efforts pay off in dividends.