Many businesses and corporations are controlled by families, including popular brands like Walmart, Cargill, and Ford. Some family businesses are also on a smaller scale. Whether you are starting a family business or joining one, there are many benefits you will get over other types of companies. In this article, we go through some of the advantages of family businesses and how to boost yours to a new level.
The winning advantages of family businesses
There are many advantages of running a family business, and some of them include:
Family members are often committed to the success of a business. They have everything at stake as they have invested all the money and time to start and grow the business. For this reason, there is always a deep commitment that keeps family businesses going even in times of trouble or tight finances.
2. Improved business performance
An economics professor, Jim Lee1 analyzed family businesses for 9 years and discovered that businesses run by families are likely to outperform companies with no family ties to the business. Family businesses record high business performance in revenue, profit, and employment growth. Also, family business is an excellent way for family members to generate income and add to the local and global economy.
3. Better work environment
One of the most evident advantages of family businesses is trust and care within the organization. Employees are treated well, have a voice within the company, and raise concerns without fear. The presence of trust, empathy and care creates a better work environment, enhances employee relations, and improves the quality of work.
How Alibaba.com can grow your family business
While running a family business comes with several benefits, there can also be difficulties. That’s why it is critical for family businesses that want to grow their revenue to build an online presence and leverage e-commerce platforms. Many business transactions today take place online via trading platforms like Alibaba.com.
Alibaba is a big e-commerce platform that makes it easy for new digital entrepreneurs to connect with customers from different parts of the world. This platform is designed for businesses of all sizes, including small businesses, to reach a global audience without the need to leave their location.
Here are some ways Alibaba can help you grow your family business:
- Grow your business on a global scale
Alibaba is a massive platform with millions of buyers and sellers from about 190 countries. With Alibaba, you will be able to create solid brand recognition, attract new customers online and scale faster in the ecommerce world. People know Alibaba, and once your brand is there, people will know you too.
- Professional services
Alibaba offers professional services to clients who want guidance through the various ways to leverage the platform to grow their business. Whether you already have eCommerce experience or not, you will receive the essential services and help required to grow your business. If you need help, you can get in touch with one of the available experts.
- Informational articles and resources
Alibaba.com has many articles on running a business and making the most out of new business opportunities and tools. This platform covers everything you need to know to grow your business, from learning how to receive payments in international trade to determining wholesale pricing, this platform covers everything you need to know to grow your business. You can also take online courses at the seller learning center to get new skills and scale your family business faster.
- Digital marketing tools
What sets Alibaba.com apart from many B2B e-commerce marketplaces is its many digital marketing and advertising tools. These business intelligence tools help propel sales, increase visibility and attract the right buyers. Some of these tools include:
- Ad management tool
This tool helps run and manage ads on Alibaba so that your products can rank high when people search for keywords relevant to your business.
- Analytics tool
Analytics tools help you analyze your performance on the e-commerce website to get insight into your customers and the performance of your online store. With this, you understand your performance, the strategy that works and doesn’t work for you, and the best way to reach your customers.
- Lead generation tool
Alibaba offers Request for Quotation (RFQ) feeds where buyers can post their needs and sellers or suppliers can browse requests. This will help sellers see who needs their product and then reach out to them.
- Ad management tool
5 tips to grow your family business with Alibaba.com
In summary, Alibaba has all the tools you need to grow your family business and reach a wider global audience. Here are some tips to help you get started on this leading marketplace.
1. Open an account and establish a profile
The first tip to grow your family business with Alibaba.com is to create a seller account. Alibaba offers different packages and plans for entrepreneurs who want to open a seller account. Simply follow the steps to register for a seller account, get your business verification and start posting your products. Also, you have the option to work with an account manager to help through the steps.
Once you create an account, establish your business page and include as much information as possible. Potential buyers will see the information you provide, so make sure you are thorough.
2. List and optimize your product page
Alibaba.com allows the selling of different types of products, including clothes, electronics, and handcraft. You will need to upload a complete list of your products to sell products. The list of products should come with vivid images, features, and detailed descriptions to increase visibility and attract potential buyers. Also, take advantage of Alibaba.com Intelligent Posting System to help you optimize your product catalog to help customers find you easily.
3. Reply to messages and inquiries
About 45% of US consumers2 abandon an online transaction if their questions or messages are not addressed quickly. Alibaba.com offers a message center to help you connect and manage communications with your buyers. Therefore, once you’ve created a storefront and listed your products, you should start expecting messages and inquiries from potential buyers. An excellent tip to make a potential buyer an actual buyer is by communicating and building a relationship with them. Therefore, always respond to messages from buyers, maintain communication and stay connected with them.
4. Leverage Alibaba.com digital marketing tools and resources
As mentioned earlier, Alibaba.com offers marketing tools and informational articles to help scale your business growth and propel sales. If you want to expand your business and take advantage of international trade, then it’s best to take advantage of these tools and resources.
5. Protect orders and payments
Alibaba.com offers Trade Assurance on your seller account to protect your business and customers during transactions. It becomes easier for buyers to trust your business when you activate it.
6. Maintain quality
As a seller, you need to ensure that your products have a quality that matches the price and description. This is to increase return customers and to maintain a good brand reputation. Buyers will love it if they get a good product from you; they will likely order again and invite others.
Sell on Alibaba.com
If you are looking for the opportunity to grow your family business and take it to the next level, Alibaba.com is all you need. By selling on Alibaba.com, you have access to an easy-to-use platform and intelligent tools needed to expand your e-commerce business. To get started, simply log on to Alibaba.com, create an account, indicate ‘Seller’ as your role, and reach 14 million active buyers.