rykenc's blog

4 Tips for Family Business Succession Planning

Succession planning for businesses of any size and ownership type is vital for long-term sustainability and success, yet is one of the toughest challenges businesses face. Only 30 percent of family or closely-held businesses survive into the second generation, and this failure is directly tied to a lack of family business succession planning.

Formally, succession planning entails three aspects: management, ownership and taxes. More specifically, first generation owners need to plan for who is going to run the business, who will own the business and how to keep taxes in check.

Here are 4 tips to get the succession planning process started for your family or closely-held business.

6 Lessons Learned from Intercept Interview Experience

Intercept interviewing is an all too often forgotten data collection strategy in today's high-tech environment. But this lost market research art form provides two very important and unique advantages. First of all, this data collection methodology has the ability to reach a highly targeted sample (especially at trade shows) and be incredibly random at the same time. Second, intercept surveys offer a relatively unending supply of sample. You simply determine where your target population will be and go there to talk to them.

3 Ways Voice of the Customer Research Can Improve Customer Loyalty

If you want your organization to be customer-centric, then you must study your customers' behavior and measure your customers' opinions. Voice of the Customer (VOC) research is a technique designed to help an organization do just that. Specifically it allows you to better understand customers' wants and needs and prioritize their concerns (by importance and satisfaction levels) to positively affect customer satisfaction & loyalty.

Several studies suggest VOC research is critical to your organization's long-term success because it drives customer satisfaction & loyalty improvements in 3 ways:

The Value of Social Media

Although SMS has a long early adopter history for cutting edge technology regarding research applications, we have stood on the sidelines observing how this "social media" thing will play out. But, it has become increasingly apparent social media is here to stay and it offers valuable benefits for both companies and their clients.  

So, Strategic Marketing Services is getting social for the following reasons: