Family Business Australia is the peak industry association representing the diversity within family owned businesses. The association delivers services to family businesses but also builds the capacity of organisations that service the sector.
We were invited to deliver our Workshop on Marketing Governance to family business advisors, exploring the dynamics and role of marketing within a family business. Family businesses require not only sustainable growth, but also the ability to provide support succession planning for their children and future generations.
Marketing is often an entry point for parents seeking to position their children into roles, and as such, it is imperative that the business embed good governance to support these requirements. Marketing is more than just promotions; it needs to ensure consistency across the marketing mix or customer experience, enabling marketing to support growth through customer acquisition and retention.
Our workshop on Marketing Governance explored how family business advisors could identify key issues within marketing and the need to provide support that will strengthen internal capabilities and capacity.
The viability and sustainability of the family business sector are vital to both economic and social growth, and we, therefore, need to provide the resources that enable family businesses to make informed marketing decisions that contribute to tangible business outcomes.