(image via freeimages)
In part 5 of our post, we talk about the 5th Step in Building a Profitable and Successful Retail Business. If you missed out on the previous articles & videos you can find them here:
Step 1: Who are your customers?
Step 2: Its all about location.
Step 3: The right Budget.
Step 4: Have the right Team.
The 5th Step is about Branding your retail business. No business can survive without a brand. Branding is essentially about understanding what is the identity/character of your business. You should be thinking about where am I positioned in my customers’ minds? If they are looking to do business with me, am I the first one who comes to their mind? Branding is also about what kind of experiences you give to your clients every time they visit your store and how does your brand engage with them when they are in the store as well as out of the store. In short, to have great branding every retail business needs to ask this question, how do I WOW my customers daily?
So this brings to a conclusion this series on 5 Steps to Building a Profitable and Successful Retail Business. I hope you had as much fun reading and watching the videos as I have writing and recording them. Let us know in the comments section or hit us up on our facebook page. To your retail growth!