What's the big deal about KYML?
So what’s the big deal about KYML? -
Let’s start by saying Welcome and answering the most pressing question, what is KYML?
For starters, it’s an idea for change with the goal to strengthen and empower local economies. It stands for Keep Your Money Lokal. Leveraging marketing trends as an altruistic idea designed to bring balance back to the local economy. Offering a marketing hotspot for local artisans, business owners and producers to deliver the information missing from most of our day-to-day economic (money) decisions. To put this together, it’s a practical tool that helps you as a shopper to keep your hard-earned money, working and invested within your very same community and you as a business to reduce your marketing costs and increase your traffic. So that is pretty neat.
Everyone (and their dog or cat!) is aware of shifting trends moving consumer channels on-line and into the digital marketplace. But the solution to accessing consumers and shoppers online is not as simple as each and every one of the 1.22 million SME’s or 99.8% of businesses in Canada to just go on out and build a fabulous website or social media page (Innovation, Science and Economic Development Canada, 2021). While these are essential, it would seem as though this method will create an overwhelming competitive marketplace that is both expensive and resource intensive.
The market place can be cloudy and convoluted at the best of times. Creating visibility on an invisible Mainstreet takes some work and like most things, resources, finance and partnerships. Especially when wanting to compete with the real competition for SME’s… say the 2000 independent businesses in Canada currently contributing just under 50% of the annual GDP (Innovation, Science and Economic Development Canada, 2021). Most SME’s just don’t have the resources to compete with companies spending thousands or hundreds of thousands of dollars to secure the very best, prime advertising real-estate. Those spaces are expensive because the better the reach, the higher the cost. That is where we come in.
Find out why we care so much in the next blog titled "why we do what we do"!
Thanks so much for making it to the end of the very first blog we have ever written.
Cheers!! And here’s to many more.
Shannon
References
Innovation, Science and Economic Development Canada (2021, December 22). Key Small Business Statistics - 2021. SME research and statistics. Retrieved January 22, 2022, from https://www.ic.gc.ca/eic/site/061.nsf/eng/h_03147.html
