By: Nate DuBois, Social Media Coordinator
Have you considered the importance of celebrating business milestones? Until recently, I didn’t think they held much value beyond an excuse to throw a party and eat lots of food. Thankfully, with age comes wisdom. Having recently turned 24, it dawned on me that aging is not guaranteed. Same with business. A recent Investopedia article notes that approximately 20 percent of new businesses fail during the first two years of being open. Almost half of them fail during the first five years and only 25 percent survive to 15 years. Taking those stats into consideration, when a business reaches a milestone… 15 years (RCG), 20 years (Aquatic Artists), or approaches 50 years (DeSimone), there’s a lot to celebrate and a lot of value gained in celebrating.
Why You Need to Celebrate
I can list many reasons to celebrate milestones (personally, I love desserts and good music at parties). In this blog, I want to focus on three reasons to celebrate that also help ensure your company continues to grow.
1) Burnout Prevention– Were you ever in a situation where you were exhausted and the spark you previously had for work went out? That may be what experts call burnout. As a leader, inspiring your employees and maintaining that “spark” is crucial in the life expectancy of your business. Celebrating milestones keeps you engaged and motivated.
2) Track Progress– When we celebrate our birthdays, we often take the time to reflect and consider what we achieved over that fulfilling year of life. Celebrating business milestones also serves as an ideal time to reflect and track your progress. What impact have you had on others? What goals have you accomplished? What stories can you tell to keep your business in the forefront of your customers’ minds? Remember, marking milestones keeps the journey exciting as you keep pursuing the next destination.
3) Incentivize Employees– Have you ever heard the saying, “if you feel good, you play good.” When employees feel good, they work well and, since the success of your business depends on the well-being of your employees, celebrating their birthdays, work anniversaries and other milestones can encourage them to work harder to help the company reach its next milestone.
How to Celebrate the Miles
No matter the size of the celebration, highlighting employee and company milestones and achievements matter. Here are three suggestions on how to celebrate your business milestones.
1) Celebrate on Socials– Take advantage of social media when celebrating. Share with your followers your business achievements, your future goals, and engaging stories to encourage them to stay tuned for more.
Here’s a classic example. When Oreo turned 100, the company rebranded to be more culturally relevant through a campaign called the Oreo Daily Twist. This highly successful campaign resulted in millions of dollars’ worth of coverage over 100 days.
2) Publicize the Event– Create a campaign that includes activities and use advertising and/or earned media to share your news (Chron). RCG had the privilege several years ago to design and run a campaign for Parke Bank’s 20th Anniversary. The campaign promotion included ads in community newspapers, transit ads, postcard mailings, lobby posters, stand-ups, a mascot, promotional products, coloring books, a micro website, social media posts, and contests.
3) Utilize the Power of Story– Take advantage of the power of storytelling to communicate the company’s value (Forbes). Create a video telling your company’s origin and current story to share with your employees (with the celebratory cake, of course). Send it out in an email thanking your patrons and partners for their ongoing support. Post it on your website and share it on socials.
Reflect on the Mileage
The most important thing when approaching a milestone isn’t how you’re going to celebrate it. What matters most is the moment you take to reflect on the company’s and your employees’ journey over the year(s). It’s the moment you take to acknowledge the trials you’ve overcome, to consider the accomplishments, and to look forward to what the future holds.