Are you a modern entrepreneur who is interested in growing their retail brand? Growing a business can be exhausting work, and as a result modern entrepreneurs are interested in short-cuts to help grow their business and improve productivity. Figuring out how to get the most out of each day and what to spend your focus on is the right way to go.
Some of the most popular brands today include Coca Cola, Microsoft, Google and Twitter. Their popularity comes from the fact that they provide products that add tremendous value or pleasure to the recipients of the products. Take Coca Cola for example, we know that it isn’t ideal for our health but many people can’t resist the good taste of the product. No brand is going to last for the long term without first of all having a great product to offer.
The modern entrepreneur must establish their brand by ensuring that they take advantage of the numerous channels of contact with the potential customer. This includes the increasing number of social media websites, video sharing websites like YouTube and so on.
How to build a retail brand :
- You can rebrand
Rebranding is not a sign of failure, and sometimes it’s needed if you feel that going in a different direction is going to be more profitable. When rebranding is done correctly it can increase profits and help your company grow bigger than ever before. The right way to rebrand is to ensure that you change most of the significant aspects of your business.
For example, Burberry had an image problem as it was considered that most of their products are bought by gangs. However, with tweaks to its marketing and the release of new products like trench coats allowed the brand to reach new heights.
For best results that people can relate to try to tell a story with your brand. If you’re able to tell a story that moves, inspires or educates your target audience then they’ll have much higher rates of engagement. In the modern age getting the attention of the customer is half the battle, so consider how strong your brand story is.
When it comes to storytelling there are not many brands that are better than Nike. It uses the stories of professional athletes like LeBron James to tell a story in their advertisements. Stories relating to motivation, how to push past boundaries and so on.
Brannon Musk, a writer at Essay Geeks suggests, “Try to tell a story that’s emotional and the average target consumer can relate to”.
Brand image must be accurate
Ideally, the brand image that you go for should be an accurate depiction of what you’re all about. This can be done by assessing the customer needs and what your products can do for the customer. There is no point in lying about what you are via the brand image because eventually the customer will get to your products and figure you out.
An example of a brand being accurate is Starbucks, who don’t advertise themselves to be anything more than a coffee shop. You know what you’re going to get at a Starbuck establishment and that’s because the brand identity is accurate.
First, sell your brand
When you first make contact with potential customers you need to sell your brand rather than your product. This allows the customer to understand why they should even listen to you and pay attention to your products. By setting yourself apart from others with a unique brand you can then begin to sell your products.
An example of a brand selling itself well is Coca Cola, and you’ll see plenty of advertisements such as the Christmas ads where the drink itself might not be featured much, but the brand is. Once you get big awareness of the brand you’ll be able to get more trust in the product.
It would be confusing if your brand tries to tell a lot of different stories as your customers will not be able to relate to what you’re actually about – they won’t be able to figure out what your brand represents. Try to stick to a particular theme that is consistent throughout all your methods of raising awareness for your brand.
A brand such as Nike is consistent with the quality of all of their products. You won’t see them taking shortcuts as that will demote the quality of the brand. When you buy a Nike product you know that quality is something that you can rely on.
The face behind the product
Customers can relate better to a brand when they know the face or faces behind the company. For example, Elon Musk of Tesla and SpaceX is the clear face of those businesses and customers might be more willing to buy if they can relate to that individual.
When there is a lack of a face behind the product then you need to rely on other factors to sell, which might be hard depending on the business you’re involved in. Choosing a person to be the face of a company that can share the values of the brand is one of the most powerful forms of marketing possible. However, this really depends on the personality of the leader involved and shouldn’t be forced as a cookie-cutter model.
Consider the target market
As an effective business, you should know the average demographics of your retail business. Therefore, you should have a brand that appeals to this demographic. It makes it much easier to relate to a brand when it’s being targeted right at you.
It’s not good enough anymore to randomly market your products, but instead, you must consider your target market. An example of a company getting this right is McDonald’s, who understands that their market is families and people looking to buy meals on a budget.
Ask for feedback
Want to know what type of branding makes the most sense for your target market? Then simply ask and you shall get a sense of what customers are thinking. Conduct surveys in order to get feedback on the branding campaign you have launched. Most importantly use the feedback in order to make changes to improve your brand image.
An example of a company asking for feedback is Amazon, who ask you to leave a review for any product that you buy at the site. This allows for transparency on the platform. It also gives an idea for other buyers regarding what the quality of the product is going to be.
Explore several avenues of marketing
In order to ensure that no stone is left unturned, you must market your retail business in all different avenues possible. This includes, social media, your website, Pay Per Click advertising, video marketing and so on.
Marketing machines like McDonald’s explore all avenues of marketing that are available to them. You’ll see them online, outside around town and also on the TV. It’s one of the reasons why they are able to capture the biggest slice of the fast food market.
By holding seminars, local events and other activities you can raise public awareness of your brand. You can then take full advantage of those events by covering it online. Also if your event is something worth mentioning then you can rely on news outlets to cover it on your behalf giving you free exposure.
If you’re a brand like a coffee shop then you need to ensure that foot traffic in the local area is directed towards your coffee shops. The best way to do it is advertising around the town, and Starbucks does an excellent job of this.
The real secret to ensuring that a brand is built successfully is by implementing a number of different strategies at the same time. You need to be proactive about the brand building process in order to compete with other retail brands in your niche. Use the tips mentioned in this article and seek out some of your own.
Chris Richardson is a journalist, editor, and a blogger. He loves to write, learn new things, and meet new outgoing people. Chris is also fond of traveling, sports, and playing the guitar. Follow him on Facebook and Google+.