Show Special kbb Birmingham 2018
How to… create a powerful brand
As a director of award-winning Scottish retail business Kitchens International, which now operates six showrooms, Paul O’Brien knows a fair bit about brand building. Here he reveals the importance and value of creating a powerful retail brand and gives his tips for how you can follow KI’s lead
I
recently attended a Hospitality Industry Trust (HIT) event where discussions were centred round the announcement that Richard Branson has chosen Edinburgh
as the location for the very first Virgin Hotel outside of the USA. It was interesting to listen to the differing opinions, and to how individuals drew comparison as to where their respective businesses sat in relation to the Virgin brand. I actually believe there are many similarities between the KBB industry and the hospitality sector. Lots of successful companies of varying scales providing a variety of accommodation from five-star luxury to basic short-term rental options, each providing a different level of service and price. Each one offering a diverse range of products and serving a diverse range of consumers. However, all of these consumers have
one thing in common – as do ours – they all have an expectation of what experience awaits them. So how would Virgin approach kitchen retailing?
1. Virgin would know exactly what market it is targeting. It would have a clear understanding of its target audience and exactly what it’s looking for. 2. Its products, services and prices would be aligned to exceed its client’s expectations. 3. It would continually review points one and two. You might think
that it’s easy for the likes of
Virgin to adopt this kind of strategy and that your business couldn’t possibly compare to such a global brand. However, the truth is, even if you’re a small, independent KBB retailer, you already have a ‘brand’. The only question is, are you in control of it? Your current clients will already be forming opinions on their experience of your business. These emotions are very real influencers in our client’s decision- making. So how can you start to take control of your brand? Let’s revisit my perception of the Virgin strategy and how you can apply it to your business.
What is a brand?
A brand is a ‘promise of an experience’ and conveys to consumers a certain assurance as to the nature of the product or service they will receive
What is a Brand? A brand is a 'promise of an experience' and
conveys to consumers a certain assurance as to the nature of the product or service they will
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Do you have a clear understanding of who your target market is? When was the last time you studied your client demographic? What’s important to them? Referring back to the hospitality analogy, are they looking for five-star luxury, or a bespoke boutique experience? There’s success and money to be made in many sectors of the KBB industry but, the important thing is knowing what areas you want to play in.
stage one
Is your product, service, and price aligned? Having clearly defined your market, it is imperative that your product selection fits your clients’ needs. Don’t make the mistake of hastily selecting product based on the recommendation of well-intended reps, or to satisfy the requirements of a
stage two
manufacturer. Always base your product selection on what’s best for your client.
One of the most powerful factors to building a brand is to simply do what you say you will. It’s the number one way to gain more referrals. “A brand is a promise of an experience”. This statement from the Intellectual Property Office reinforces that the most important thing is to deliver. Service like product should meet the expectation of your client. It is also critical to clearly set those expectations at the very outset. Learn to say ‘no’ to unrealistic client demands.
A strong brand increases sales. It attracts the clients who you want, and filters out those who are just not right for your business offering. Price will always be an influence, but when you have your market, product and service aligned I guarantee you it will simplify your proposition, and significantly increase sales.
Continually review
I cannot stress the importance of this action. Why not start by simply asking your previous clients what was important to them? What they expected from your company, and if you delivered it? Feedback is indeed a gift, so make the most of it.
stage three
Behave like a brand
A strong brand guarantees future business, and builds financial value. Building your brand will not happen overnight, but the benefits created are massive. Client satisfaction and loyalty will be matched with a real sense of purpose and motivation from all staff.
stage four
It’s frightening to think it’s a decade since the recession hit, and no one knows how things will pan out post- Brexit. But, like Mr Branson, clever brands will continue to flourish at the expense of less proactive companies. Taking control of your brand will be a massive step towards guaranteeing future success.
Opinion
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