Your Store is a Brand. Are You Building It?
Written for CHNR Sept/Oct 2022 Issue, By: Matt Taylor, Director of Insights
You don’t just have a store; you have a brand. And the more you can define and grow that brand, the stronger your store can become.
What is a brand?
To start, it’s much more than a logo. Your brand is a power-source for customer attraction and preference.
According to Seth Godin, a best-selling author and marketing expert, it’s “the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another.” And in your case, the decision to choose one store over another.
What does it do?
A stronger brand can win more customers and sales for many reasons, including:
- Familiarity & Liking – we feel safer and more certain with known entities.
- Mental Availability – to buy from you, customers must first they think of you when they need what you sell.
- Quality Perception – the more you are known, liked and trusted, the more people assume you (and your products) are the best!
How do you build it?
One last step. Before you jump into tactics like ads and influencers, you need to know what you’re building. The best Brand Managers do these three things.
1) Build Fame With AWARENESS
Before potential customers can visit your store, they need to know you exist and where to find you.
2) Build Relevance With MEANING
Just because a prospective customer knows your name doesn’t mean they’ll think of you as they plan their shopping. That’s why you also need to attach meaning to your brand, beginning in two places: Associations (how you want to be seen) and Entry Points (in which situations customers should remember you).
|– How do you want to be known?
– What makes you special?
– What key strengths, attributes or philosophy resonate most with customers?
|– When do you want customers to think of you?
– What needs do you solve best?
– What product types are most important?
– What typically drives the most foot traffic?
3) Build Recognition & Recall With DISTINCTIVENESS
Customers are busy, so they need you to work hard at always looking the same. For example, what do “Golden Arches”, “Just do it” and “They’re Grrreat!” mean to you? That’s right – McDonald’s, Nike and Frosted Flakes. Each one of these brands uses something called “Unique Brand Assets” to help you recognize their ads and consider them at the right times.
The consistent use of a logo, icon, phrase, character, font, sound, smell, design style or colour help potential customers encode your brand message each time they see it, as well as recognize and consider you when they’re close by.
Now, go build!
Brand building is memory building, as you consistently deliver a meaningful message to your local market. The more time and energy apply, the stronger you’ll be in the end.
Matt Taylor is the Director of Insights for Jamieson Wellness and has been in the natural products industry since 2005. The opinions expressed are his own and not necessarily those of the company. You can reach Matt at email@example.com