Questions

For next-generation family businesses, what is the most challenging aspect of getting your business to invest more in digital?

I'm interested in hearing your personal perspective on this. As the up-and-comer (next-gen), what are some of the struggles you've experienced trying to get ideas related to digital accepted by the current generation? How did you end up getting these ideas implemented? In this context, I refer to digital as technology, social media, web-based, data/analytics, automation, etc.

4answers

Alessandro Daliana's comments are bang-on.

It seems you were also asking about how to get your elder's to accept your ideas about change.

It's difficult, especially when your boss always wants to see you as their child. How do you earn their respect and get them to listen to you the way they would listen to an outsider who seems qualified.

I've witnessed a couple of strategies from next-generation people that you may wish to consider.

1. Leave the family business and prove yourself 'outside.' You can go work in another company to prove your abilities and then come back to the family business at a later date. When your parents see that others respect and value you, it's easier for them to listen.

2. Case-studies. Look for similar companies that are not local direct competitors. Demonstrate the strategies that they're implementing and why you should do them as well... as long as they make sense (See Alessandro's answer)

3. Experiment with other people's businesses. You probably have friends who own or run their own business. Help this person implement change and then demonstrate the results to your parents. If they see that you're capable of seeing valuable opportunities and others respect you for it, it can be easier for them to accept.

Being a next-generation in a family business can be difficult. Your parents probably see the business as an extension of themselves and probably haven't put the effort and thought into a proper succession plan.

Most entrepreneurs that I meet have the 'I'll just live forever' succession plan, until the day comes that they decide they need to sell.

Cheers and good luck.

David C Barnett


Answered 5 years ago

Return on investment. As long as you can prove that your investment is returning new customers and better clients with larger returns, the amount of money you invest in digital should grow.


Answered 5 years ago

There is nothing like most challenging aspect of getting your business to invest more in digital, but challenges will be there. With so many messages tossed in consumers’ faces day after day, it is crucial to create a recognizable, relevant brand. Without consistent branding, your business becomes just another faceless name in a sea of ads. The number one challenge for marketers, according to HubSpot’s State of Inbound 2017 report, is that generating traffic and leads seems to get harder instead of easier as more platforms become available. Many business owners spend all their time focused on social media, sharing out dozens of posts a week without any kind of return. Develop buyer personas based on surveys with customers, market research, and any other information you can get your hands on. You need your website to attract, nurture, and convert leads. Website issues can range from creating the best content to designing an appealing site that is easy to navigate. Many companies, especially small businesses, simply do not have the time or staff to dedicate to website management. This does not mean you should settle for a website that does not do its job well. Get feedback from customers on their problem areas with the site and where you have room for improvement. Then, use StoryBrand to create powerful website content that will keep visitors clicking your “Call Now“ button. Deciding on the right tools, technology, and software for your business can be difficult, to say the least. When brainstorming for your content calendar for blogs, offers, emails, or social media posts, ask yourself what problems your audience has that you can solve. Always gear your content toward a specific problem your customers have. This preference does vary a bit depending on your audience, which is why those buyer personas are so important. You can take advantage of this trend and use it to grow your business. If that sounds familiar, you've probably already looked into the StoryBrand marketing framework. You can learn more about how to frame the right message for your audience by signing up for a StoryBrand workshop. ROI Online is a StoryBrand-Certified Agency. Either way, you end up with someone who does well in one area of marketing but does not see the whole picture. Just like with web design, the best bet for your business may be to partner with a marketing agency. These organizations employ the best pros for every area of marketing. Choose someone with a bit of experience in content creation and design, as they will be able to support your business more effectively than someone who only focuses on one area.
Measuring the ROI of your marketing projects is the most efficient way to determine the effectiveness of each campaign you launch. It is also a sure-fire way to obtain a larger marketing budget. To best measure ROI, you need to close the loop between marketing activities and sales results. There are numerous tools available to help you do just that, from marketing software to CRM solutions. When you speak to new customers, find out how they first heard of your business. That way, you will know if your marketing campaign brought people to your door or failed to take off. Every employee you hire should be adequately trained, and your marketing team is no exception. If you choose to hire a full- or part-time marketing staff, it’s crucial to provide thorough training even if they’re experts in their field. This gives you a starting point and lets you know where to invest your training time and money. These goals might include getting certifications in their area of expertise, reading a new marketing book, or watching a webinar. Find out how to recruit the best talent for your marketing team.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath


Answered a year ago

Unlock Startups Unlimited

Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.

Already a member? Sign in

Copyright © 2022 Startups.com LLC. All rights reserved.