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Monday, August 20, 2018

Minding Your Business-Retail Branding

Presented on US Sports Net by Yahoo Small Business!
By: Scott Jeffrey

Retailers and manufacturers are constantly on the lookout for new ideas and strategies to spur growth. And while smart companies are giving digital serious consideration, they’re not doing it at the expense of the store experience. Likewise, in our excitement around mobile shopping, let’s not overlook our physical spaces and the tactile experiences they offer. Yes, stores have been our retail workhorses for centuries, but don’t make the mistake of assuming we’ve wrung every bit of growth to be had from them. What can be done to spur growth from the fleet of branded spaces that currently exist? Plenty.

When I look across most categories, I see great similarities between competing brands. Brands get stagnant and complacent. All it takes is a little courage to get beyond the safety of sameness. I believe innovative thinking can only happen when you take a long hard look at your brand and ask, "What if?" What if we look at things from a different perspective? What if we do things a new way?

Customers get excited by new. We see this time after time when we open a store, especially if the exterior has had a makeover. Inevitably, customers who have forgotten about you will try you again. "New" attracts attention. The good thing about new is that it comes in a variety of degrees, from a complete overhaul to a new coat of paint and some impactful communications. Sometimes new can come in the form of an exciting offer. The worst thing you can do is not try. Don’t fear failure. New ideas can be tested and adjusted, several times and ways, until the register starts ringing.

Recently, a client told us the secret of their instore success. They are always asking themselves, "What if?" And as a result, they continuously give the customer something they haven't seen before. Something new. So there’s always a little excitement, a reason to shop. The opportunity is there, in every square foot. All too often, the problem is with the limits of our thinking not with the limits of the store.

Interbrand Design Forum has nearly 40 offices and a practice that brings together a diverse range of insightful right-and left-brain thinkers, making our business both rigorously analytical and highly creative. Our work creates and manages brand value for clients by making brands central to the business’ strategic goals.

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