Integral Marketing for Family Businesses.

• Strategy
• Aug 4, 2013
• 0 Comments

It is common that the importance of family businesses is despised, but in reality, if you look closely, the importance of family businesses in the economy of the country is huge, so there is no reason to disparage them.

Family businesses usually start small and grow over the years. There are several factors that make a family business to succeed, among them long-term planning, tradition and continuity, the familiar business environment, social responsibility, quality of production and being innovative and entrepreneurial. If all these factors are carried out, it is likely that a family business to succeed and develop very well.

In Latin America many services and products are offered by family businesses to a huge market that is willing to purchase. In this mode of operation we can find, for example, many heads of households who make cake in their kitchen, snacks, ice cream and other products, and themselves sell them to other members of their families. Many of these families are integrated into the formal economy after achieving some success and being adequately transformed.

As an example of the above, it is enough to mention that in the United States in 1973, 20% of the 500 largest companies were family. In 1983 the percentage of family businesses had increased to 40%. Today they are around 95%. In addition, they produce between 40 and 50% of the GDP of the country and represent approximately 40% of the nation workforce. (Source: Business Decision).

To make a family business endure and be successful over several generations is the result of a carefully crafted plan from maturity of leadership. And this is where using a Comprehensive Marketing Plan becomes a solid basis for growth of the company.

Integral Marketing is a concept that seeks to integrate all communication efforts inside and outside companies, directing them towards the same successful strategic point and a vision for growth. Achieve ROI on design, advertising and promotion to keep growing. Proven to achieve this great goal , professionalize recipe is YOUR BUSINESS.

Put simply, professionalization is to establish the structures, policies and systems to ensure the successful operation of the company. Taking this step is not easy. The golden rule for improving the professionalization of this family business is open and willing to have those freelancers who deemed necessary, equal to any family.

When the family business has reached this critical point, it is vital to be surrounded by professionals to help you achieve all your goals. A fundamental part of this process, the Integrated Marketing is there to achieve effective communication and strategically applied can make a difference. A well identified product, a strong brand and an effective and efficient communication with customers or consumers are key.

There are many examples of family businesses, which began with a limited range of products and a short-range sales, which have managed to become huge conglomerates with millions in profits and thousands of employees. But unfortunately, there are also examples of companies that failed to see the importance of professionalism in time and stayed on the road.

The Integrated Marketing seeks to be the “glue ” for the idea of the company with the message to be transmitted. Everything has to be consistent with the identity and ideology of the company. Having in mind the importance of these factors gives strength to the company and brand value, either product or service.

Implementing a Comprehensive Marketing Plan effective and strategically targeted achieves the full benefits of the structure of a family business and helps create a positive all-round effect with internal and external audiences and consumers.

INTEGRATED MARKETING potentiates ALL VALUES OF A FAMILY BUSINESS

• The service. Family businesses have a true vocation for service.

• The long-term vision. One of the great illusions of the founders of companies is that their dream is continued by their descendants. This requires them to plan the horizon in a longer term, which prevents long-term plans remain mortgaged in exchange for short-term success .

• The vocation. The new generations have learned about the business from their parents from early childhood. Since small they have heard comments about the business and have visited the premises. This allows them to learn the craft from young age and develop the organization’s vocation requires.

• The speed of decision making. In family businesses relevant decisions can be made in a few minutes without many formalities. This is a situation that senior business executives unfamiliar wish to live.

• The stability of executives. It is difficult for an executive inside the family to be removed, which does not occur in the case of executive outside it. This same  continuity exists in the plans of the company, and therefore employees, suppliers and customers experience a higher level of certainty.