For beauty business news, beauty store owners turn to Beauty Store Business. Beauty business trends, beauty business profiles and more!
Issue link: http://beautystorebusiness.epubxp.com/i/340385
86 August 2014 | beautystorebusiness.com A STORE APART What makes a successful brand? The best way to answer that question is to start by busting a common misconception. Creating a brand has nothing to do with dream- ing up a creative advertising campaign. "When businesspeople think about a brand they often equate it with a logo," explains Adele Cehrs, president of Epic Public Relations (epicprgroup.com) in Alexandria, Virginia. "But the best logo in the world means nothing without a larger strategy. Good branding is really about repositioning your business in the marketplace." In other words, the famous Coke logo would do the company no good if the soft drink wasn't known as a brand that promised a dependably refreshing experience. Coke has created and com- municated a unique story. And that's what makes a profitable brand. "A brand differentiates you from all the other companies out there that offer the same products and services," says Banks. "Branding is the essence—the DNA— that makes up your business." And that DNA is of necessity all your own. So how do you go about engineer- ing a unique DNA? Start by finding out where your store is currently positioned in the marketplace. While market posi- tion can encompass many factors, Banks suggests starting with two that are of proven potency: your price and service reputation. It's important to get insights on these factors from your customers rather than relying on your preconcep- tions. That's because the two can be in conflict, and only by understanding and modifying the public perception can you increase sales. To find out customer perceptions, just ask. "Here is the amaz- ing thing about customers," says Banks. "Most are honest and will tell you how they feel. As a result, they can be your best source of information on where you stand relative to your competition." IT'S QUESTION TIME Ask your customers questions that help to reveal their perceptions of your store's image when it comes to price and service and their desires for the most attractive shopping experience. Here are some examples: • What brought you to our store? • Did you find what you wanted? • Did you buy something else? Why? • Were our prices as low as you desired? • Did you receive the service you needed? At the same time ask questions that uncover unstated customer-shopping expectations. Here are some examples: • What are the three top things you consider when you shop for ABC merchandise? • How important is price? • How important is service, and what service in particular? Then ask questions that help you measure where you are relative to your main competitors. How do they compare with you in the customers' minds? Here are some examples: • If you are shopping for ABC merchan- dise, what is the first store that comes to mind? • What is the first store you would choose to shop? • Why ABC Store over XYZ Store? Price? Service? You can pursue this same customer- centric research in areas beyond price and service. Some examples are mer- chandise selection, stockouts and staff attitudes. "From your customer surveys you can discover your strengths and weaknesses," explains Banks. Exit inter- views are great vehicles for this purpose because the customer experience is still fresh. "Two weeks after shopping people tend to forget their impressions," says Banks. It's best to interview customers as they walk out of your store while their memories are strong. And exit interviews need not take long, adds Banks. "It's amazing what you can learn by talking with people for as little as five minutes." PICTURE THIS Your interviews may show that cus- tomers most value selection and price, and feel—for right or for wrong—that you are outdone in these areas by your "Good branding is about repositioning your business in the marketplace." Firming DMAE Moisturizer by derma e ® No matter how you look at it, sagging skin doesn't portray the natural youthfulness you feel inside. That's why derma e ® Firming moisturizer contains DMAE, Alpha Lipoic and Vitamin C-Ester, ingredients proven to support healthy collagen and elastin levels in skin. With regular use, skin will look firmer and fitter, revealing the real you from every angle. See firmer skin from every angle. 100% vegan • paraben-free cruelty-free • gluten-free • gmo-free To receive product samples and literature 800.521.3342 • www.dermae.com/bsb www.dermae.com Available in Ulta Beauty, Sally Beauty or wherever natural skincare is sold. H o w t h e R i g h t S t o r e I m a g e B o o s t s S a l e s . i n d d 8 6 How the Right Store Image Boosts Sales.indd 86 6 / 2 6 / 1 4 4 : 5 0 P M 6/26/14 4:50 PM