MILITARY VETERAN ENTREPRENEURS: PART 3

This is the third in a series of four short papers centering around military veterans who own and/or founded businesses in Colorado. The papers are based on discussions with military veterans who founded and/or currently own companies in Colorado. 

The purpose of these papers is to examine three areas unique to military veteran business owners/founders. 1) How mentoring and networking played a role (or not) in their success; 2) hiring and retaining fellow veterans as employees; and 3) leveraging their veteran-owned status in their business. The final paper presents perspectives on the pros and cons of the veterans’ businesses being in Colorado and advice they would share with other military veteran business owners.

Topic 3: Leveraging Military Background in Marketing and Branding: Strategies for Veteran-Owned Businesses

 Introduction

Leveraging their military background in marketing and branding efforts can not only distinguish veteran-owned businesses but also resonate positively with customers who value supporting veterans and the military in general. In this paper, we explore how veteran business owners leverage their military affiliation for marketing and branding and the strategies they employ to ensure authenticity and effectiveness in their messaging.

 Leveraging Military Background in Marketing and Branding

Veteran-owned businesses employ various strategies to leverage their military background in marketing and branding efforts, including:

1. Certification: businesses can be certified as being a Veteran-Owned Small Business (VOSB) and Service-Disabled Veteran-Owned Small Business (SDVOSB) through the Small Business Association (SBA) for government customers. For private sector businesses (typically Fortune 500) who have inclusion goals in their supply chain, the National Veteran-Owned Business Association (NaVOBA) certifies companies on the civilian side.
2. Highlighting Military Affiliation on Careers pages and through sponsorships: Some businesses emphasize their military affiliation on their careers page and by sponsoring veteran organizations. This approach attracts individuals who resonate with the company’s values, garnering positive responses from customers who appreciate the commitment to veterans.
3. Incorporating Military Affiliation into Branding:  Many of the businesses (though not all) leverage their military affiliation by placing the VOSB/SDVOSB certification (SBA and/or NaVOBA) on their website. This establishes credibility and ensures the business is, in fact, owned and operated by a military veteran.
4. Utilizing Red, White, and Blue Branding: Some of the companies use red, white, and blue branding to signify its patriotic identity – this is particularly effective in the federal government marketplace. Customers appreciate the commitment to serving the country, resulting in positive responses and increased brand loyalty.
5. Emphasizing Trust with their Background Story: Many of the businesses place special emphasis on the founder’s military background story. This has proven to build credibility and “provided a short cut to trust,” enabling the companies to move faster than their competition in some cases. One of the companies that utilizes e-commerce specifically highlighted that in their business getting to a trusting relationship early is paramount.
6. Subtle References to Military Background: As opposed to being “front and center” with their military affiliation, some companies subtly reference their military background through their name or logo. This has sparked curiosity among potential customers which then leads to a discussion around the military connection which, in turn, provides an easy transition into a business development conversation.
7. Translating the Military Aura: One of the “business to consumer” companies translated the military aura into themes of adventure, risk-taking, and innovation which resonate with their target market of Coloradans who believe themselves to be outdoorsy and adventurous risk-takers.
8. Utilizing VOSB Status for Partnerships: Some of the businesses leverage their VOSB status to partner with larger companies, attracting partners who value working with veteran-owned businesses and may have contract opportunities with a “set aside” for veteran-owned businesses.

The strategies above have proven to effectively communicate the companies’ commitment to veterans and military values which, in turn, have helped grow the businesses due to the tendency of their target market to desire to affiliate with the military culture.

 Avoiding Stereotypes and Clichés in Marketing and Branding

To ensure marketing and branding efforts do not rely solely on stereotypes or clichés, veteran-owned businesses employ the following strategies:

1. Personal Presentation: One of the interviewees advises against embodying stereotypical military characteristics such as aggressiveness and an “in your face” approach, presenting oneself in a more reserved and professional manner to avoid causing offense.
2. Diversifying Offerings: It’s important to showcase a diverse range of offerings to demonstrate versatility and expertise beyond just military-related products or services. This can significantly expand the business’ Total Addressable Market.
3. Translating Military Experience: Business owners recommended purposefully and thoughtfully translating military experiences into civilian terms to avoid relying solely on military stereotypes. 
4. Awareness of Perceptions: Understand the importance of being aware of perceptions and addressing potential biases or stereotypes to create inclusive environments for employees and customers.

Communicating Unique Value Propositions to Target Markets

Veteran-owned businesses can effectively communicate their unique value propositions to target markets through:

1. Values and Culture: On their websites, many of the businesses highlight “military values” such as teamwork and clear communication, effectively communicating a commitment to leveraging this military experience to foster a positive work culture.
2. Tech Expertise: Many businesses emphasize the fact they have a unique perspective and problem-solving skills gained from military experience, showcasing their ability to innovate and excel in the tech industry. This is particularly applicable to Federal and “Defense-adjacent” jobs.
3. Brand Building: One of the companies focused on building their brand rather than just a product, emphasizing brand identity, values, and mission to differentiate itself from competitors. They leveraged the adventurous spirit affiliated with the military to connect with a broader customer base who also picture themselves as adventurous.

Targeting Specific Market Segments

Some veteran-owned businesses target specific market segments that prioritize supporting veteran-owned businesses by:

1. Pursuing Government Contracts: When the business lends itself to supporting government missions, some businesses target the military specifically, effectively communicating their value proposition to customers in the government contracting space.
2. Targeting Military Exchanges: One of the businesses targets military exchanges for its product placement, strategically positioning itself to appeal to customers who prioritize sourcing products and services from veteran-owned businesses.
3. Supply Chain Diversity and Inclusion: Some businesses target large corporations that have supply chain diversity goals. A NaVOBA certification provides assurance that the business is, in fact, veteran-owned and operated.

Conclusion

Overall, targeting specific market segments that prioritize supporting veteran-owned businesses involves understanding the unique needs and preferences of these customers and tailoring marketing efforts to effectively communicate the value proposition and benefits of choosing a veteran-owned business as a supplier or service provider. By leveraging their veteran status and aligning with customer priorities, these businesses can enhance their competitiveness and attract customers who value their contributions to the military community.

About the author

Hark Herold is a 28-year Air Force veteran with experience in a variety of specialties. Following his military service, Hark was focused on supporting military veteran and military spouse entrepreneurs and business owners. If you’d like to talk more about Veteran-Owned businesses and their challenges and opportunities, Hark would love to connect! It’s a topic he’s passionate about. Feel to reach out at [email protected] or visit his website at https://www.eosworldwide.com/hark-herold.