NEW YORK — Say the word “Coke” and your mind probably conjures up the refreshing image of “a cool, bubbly drink.”
Now say the name of your drycleaning business. What image comes to mind? More important, what image comes to your customers’ minds? If the picture is as compelling as the one for the world’s largest beverage company, you have succeeded in creating a “brand” that can add real dollars to your bottom line.
As attractive as a shiny brand sounds, chances are your own could use a little polishing. Or maybe you have not given the idea of building your brand very much thought in the first place, given that you are not a giant corporation like the Coca-Cola Co.. When it comes to working on your public image, though, size is not an issue.
“Branding is not just for big businesses,” says Ken Banks, CEO of KAB Marketing, a consulting firm in Florida’s Tampa Bay area. “It also helps small operators stand out and get noticed. Indeed, a strong brand can help any business compete with larger operators.”
PICTURE THIS
Your customer interviews (see Part 1) may show that patrons most value selection and price, and feel—rightly or wrongly—that you are outmatched in these areas by your competitors. Or maybe they are looking for more engaged or knowledgeable employees, or better service in specific areas. Or perhaps they don’t even realize that you already offer those services they most desire.
Whatever the results, you can get a firmer grasp of your market position by tracking them in a visual way.
“Start by creating a perceptual map with two parameters,” suggests Banks. “Put service on one axis and price on the other. Then use customer feedback to position your operation on each.”
Banks offers an illustrative example: Walmart would be positioned low on the price axis and not too high on the service axis, since the chain is a self-service operation. Draw up similar perceptual maps for other factors covered in your customer interviews. Then enter your competitors’ positions on these same maps.
A visual view of your customer data helps you recognize where your business stands in relation to the competition.
“Now is the time to ask: ‘Based on the results of our surveys, where does our brand need to go to gain market share?’” says Banks. “Perhaps, for example, you are not perceived to have as high a level of service as competitors. If so, your next step is to ask customers, in more exit interviews, what you need to do to change that perception.”
Watch especially for insights into where your competing dry cleaners are falling down. Maybe customers want a certain service that no one is offering. There’s your chance to fill the gap.
With your findings in place, follow your customers’ advice: Get your performance up, the word out, and watch the results show up in higher revenues. In the process, you will be creating a unique brand that conjures up in the minds of consumers an image of your company that is just what the public ordered—literally.
“By creating a story that moves your business to a better place on the perceptual maps, you will build market share,” says Banks.
KEEP IT UP
As valuable as all that customer research is, keep in mind that it is not a one-shot deal.
“You don’t just do some research one year and then wait for 10 years and wonder why revenues are declining,” says Banks. “You have to monitor where customer preferences are and where you are going on the perceptual map. If you move up or down, ask, ‘What did we do to cause that?’ Or maybe you moved because consumer tastes are changing. If so, you have to keep up with them.”
As the preceding comments suggest, creating a brand takes a lot of thought and effort.
“Too often business owners are tempted to throw money at the problem, dreaming up an exciting advertising program that creates more public confusion than revenues,” says Bob Phibbs, a consultant based in Coxsackie, N.Y.
Instead, obtain a deep understanding of customer desires and modify your business to meet them, says Phibbs. “Ask, ‘What do we need to do to build our brand? And how do we communicate the brand to the market?’”
The result of your work will be a compelling image that rises up in the minds of consumers when they hear the name of your drycleaning business. And that can only mean more revenues and greater profits.
Have a question or comment? E-mail our editor Dave Davis at [email protected].