Monday, January 6, 2014

Branding Basics For Retail Businesses

Branding is a fundamental component of running a successful retail store or business. Among other things, it helps customers remember your business, which in turn increases your number of returning customers. Regardless of what industry/niche your retail store is based around, you should invest  some of your time and energy into branding it. Doing so is a smart investment that will prove well worth the money in the long run. To learn more about the basics of retail branding, keep reading.

Store Name

Branding a retail store starts with choosing the right name for it. One of the biggest mistakes new retail store owners make is choosing a generic name. Here's a scenario to consider: let's say you shop at two different clothing stores; one's named "Big Al's Threads" and the other's named "Clothing Store." Which store are you most likely to remember in the future? Chances are you chose the first simply because it's unique, while the second one is more generic.

There are a few elements a retail name should contain, including the following:

  • Unique (don't choose the same name as your competitor)
  • Memorable
  • Relevant to your industry/niche
  • Keep it short
Creating your store's name using the elements mentioned above will naturally help brand your business. Arguably, the worst thing you can do is choose a name that's generic, as people won't remember your business. Stick with a unique, memorable, relevant, and short name to increase your brand exposure.

Marketing and Promotions

You can't expect to run a successful branding campaign for your retail business without investing some of your resources into marketing. Remember, the objective of branding is to make customers know and remember your business. The only way you'll accomplish this is with LOTS of marketing, so get out there and spread the message about your retail store.

You read through some of our previous blog posts for more retail marketing tips, but your goal when branding is to make people remember your business name. Local television commercials, radio commercials, and billboard advertisements are just a couple highly effective ways to band a business. You may not see immediate results from investing in these marketing mediums, but the benefits of branding is sure to creep up over time.

Hopefully, this will give you a better understanding of branding and how it plays such as a critical role in the success of retail businesses.

No comments:

Post a Comment