The family advantage: Leveraging family ownership in your brand
Today I have a bit of a thought starter for all the family businesses out there. Are you leveraging the fact that you are a family business to create a competitive advantage? According to Family Business Magazine, 60% of consumers say they prefer to buy from a family business.
BRANDING BEFORE BREAKFAST EP 45 The family advantage: Leveraging family ownership in your brand
Today I have got a thought starter for all the family businesses out there. So are you actually leveraging the fact that you’re a family business to create an advantage? According to Family Business Magazine, 60% of consumers say they’d rather buy from a family business. That is a pretty impressive stat. And according to a report that EY did, 67% of family businesses are already marketing themselves as a family business because they think it creates differentiation, it creates a really strong sense of identity and on top of that, it helps create trust. And that’s not just with customers, but it’s with your employees as well. This is an opportunity for you to bring the fact that you’re a family business out to the forefront. Customers really love stories, so are you sharing that origin story? And think about your founder. Have you captured their passion and their vision on film, so that you’ve got it for future generations? And for a quick win, use the family-owned emblem on your website, on your collateral, and on your packaging. Something to think about for this year. That’s it from me. It’s time for brekkie.
Written by: Jodie de Vries
Published: April 2, 2020