Good news for the pool and spa industry: customers are partial to family-owned businesses.
According to recent research conducted by EY in conjunction with with Kennesaw State University’s Cox Family Enterprise Center, 25 of the largest family businesses in each of the 21 top global markets have built a foundation of trust by branding themselves as family-owned.
"Seventy-six percent of companies surveyed report that they refer to themselves as a family business in their marketing materials to establish a strong identity, differentiate, and build trust with customers and employees," according to the Harvard Business Review. " Family-business branding is on prominent display at companies such as German brewery Warsteiner: “Family Tradition Since 1753.”
Of course, members of the the pool and spa industry have been doing this for generations. But as the marketplace continues to evolve, it's important to recognize how this branding can help to elevate brick and mortar and/or mom-and-pop shops above the rising competition posed by the Internet. Read More