C’mon, who doesn’t love a good holiday-themed metaphor? We know we do! The Betsy team was gearing up for Thanksgiving and reminiscing about wrestling siblings and cousins over who got to snap the turkey’s wishbone and “win” the “wish come true.” This inspired us to go down a metaphorical rabbit hole, exploring a world where small businesses and consumers are on either side of “The Business Wishbone.” Can both parties’ wishes come true?
If that sounds a bit confusing, it’s ok! We’ll (hopefully) make this metaphor make sense as we go.
Your Small Business Goals Vs Consumer Goals
What are your small business goals? Increased revenue? More loyal customers? More brand ambassadors? If your answer is an emphatic, “all of the above,” we hear you, and we’re always here to help. We regularly create content to help businesses reach their digital marketing goals. “6 Tips To Grow Your Small Business,” “Start Your Holiday Plans Early,” and this article has the same vision!
The key to reaching any small business goal is asking what your audience wants, understanding it, and finding ways to merge your goals with theirs. Modern-day consumers want quality products and services from upstanding, quality companies. In the era of information at our fingertips, customers dive deep into who companies are before ascribing their loyalty. Millennials (currently the largest consumer generation) and their younger cohorts, Gen Z, put a lot of emphasis on the character and ethics of businesses, often above all else. To quote another of our researched articles, “Millennials appreciate transparency, honesty, and strong beliefs. You can’t always make everyone happy, but you can inspire strong loyalty by being genuine”
Modern-day consumers from Gen X, Millennials, and Gen Z seek to buy from businesses that treat their employees well, do good things for their communities, and create sustainable and earth-positive products. It’s not just about supply and demand anymore; there is too much scrutiny.
How Everyone Can Win!
The wishbone of entrepreneurial success is double-sided (just go with it); everyone can win! As we’re barreling towards the end of another fiscal year, it’s a great time to capitalize on the holiday opportunities and implement new strategies to carry over into the next year. We’ve put together a few ways to help the tug-of-war be an even split!
Focus on Rewards:
The holiday season feels like the time to maximize sales, and it is. Still, it’s also a wonderful time to increase customer loyalty and employee retention. Rewarding your loyal customers with unique deals, gifts and specials will encourage them to spread the word about how awesome your brand is. In addition, showing your appreciation to your team members has a spidering effect of general positivity for your brand. Your team is the backbone of your company, and they need to know they are appreciated. You can even create a public post or statement thanking them for their contribution and letting your audience know how they are being thanked.
Give Back To The Community
As we’ve stated before, consumers want to align themselves with ethical and charitable businesses. “No longer is a business’s worth simply measured by dollar signs and products, but by the impact they make both directly or indirectly.” We encourage you to find organizations that align with your brand’s ethos and find ways to contribute. Once you do, let your audience know who you support and encourage them to as well. Perhaps even consider creating a deal that goes hand-in-hand with charitable giving, such as, “For every bagel purchased, 40% of the profits will be donated to the Trevor Project during all of December.” Embrace humanity rather than the bottom line, and we promise your brand will also benefit.
Show Your Audience That You Listened
Last but not least, show your audience that you listen to them, and they will give you not only their money but their attention. Social media is the best way for any business to communicate with its desired clientele. We’ve said it once, and we’ll say it a thousand times more, community management on your social media pages is crucial to continued growth and success. “If your followers are taking the time to engage on your pages, they want to be heard; whether it is positive or negative, you should let them know that you see them.” Take note of what they ask of your business, their complaints, and their praises. Keeping your business agile and flexible is the ultimate way to reach your goals while making your customer's dreams come true!
We hope we didn’t stretch the metaphor too thin for you, but we have to try and tie in the holidays somehow! All we wish for this holiday season is continued success for all the great businesses (yours included), and if there is any way we can help you accomplish your goals, hit us up!