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.