Why should I care about branding my store?
Branding is a marketing tactic where a company creates a name, symbol or design that is identifiable as adhering to a certain standard or quality. This helps to distinguish your store from others and makes consumers feel that you are the safest and therefore best choice.
When consumers are shopping for a pool or hot tub costing thousands of dollars, they want to make sure the retailer they choose is set up to be there in the future to support them. Shopping at a branded store gives them the comfort of knowing that they are shopping at a location that is not operating alone. It can change how people perceive your store, and it can drive new business.
Advertising becomes much more effective once branded because you benefit from the collective and collaborative efforts made by all the participating stores. This significantly increases the reach of your advertising dollars and therefore increases profitability.
A national brand that becomes established can increase a business’ value by increasing the store’s credibility, and allowing that credibility to be passed on to a new owner. This makes it a more appealing investment, and opens the doors to more potential buyers. Branding can help secure your business for the future.