Branding provides value beyond advertising
Branding helps guests make decisions without having to continuously consider and reevaluate the product and providers attributes or even seeing an ad.
Branding Questions You May Have
I’m not a big company do I really need to consider developing a brand?
If you are in business you already have a brand, how well it tells your story is up to you.
Does doing brand development actually produce a real return?
Not developing a brand produces real losses. People who don’t understand who you are, will buy from someone else that they do know even if the product is not as good.
Does it cost a lot to develop my brand?
Brand development is an ongoing process and should be managed as your business grows
Isn’t a brand just a logo and a slogan?
A logo and a slogan are part of your brand, your brand identity but just like you, you are more than your name and photo on your drivers’ license.
See how we work on the various components that go into strengthening your brand
Did You Know ? Proper branding can reduce one of your largest expenses.
Why Nicholls Hospitality Marketing
NHM understands believes that the best stories are the ones that are true for one reason that they are the easiest to remember and the only ones worth telling.
Companies run into trouble is when they do not recognize the person in the mirror anymore because they believe that they need to be something that they are not to be competitive and so fear starts to dominate their thinking rather than how can they serve their guests. NHM takes an honest look in the mirror to help you see where you can be competitively positioned by those looking for you.
NHM also understands that companies change over time, they need to in order to remain relevant and this may include rebranding especially if ownership, service levels or service offerings have changed. We can help communicate this change in a way that is positive and productive.
We help you tell your real story and get you real results
There is a saying that the truth will set you free. Addressing what is true about a business is something not all marketing companies talk about. Branding truth. Branding truth helps with expectation management, reducing service gaps and so much more.
Why truth in your brand is critical
Have you heard the saying to tell a lie a thousand lies are needed? If that sounds like a lot of work you’re right it is also a lot more expensive in several ways:
- Litigation costs for false advertising,
- Lost business from user-generated content on your and other social media platforms.
- Refunds for service recovery due to misaligned expectations
- Staff turnover
Commoditization or Perfect Competition
Developing a strong brand is essential in todays’ market of commoditization and near perfect economic competition. Guests are very price sensitive in the hospitality industry and with the availability of so much information so easily, owners can be lead to believe that competing on price is only way to gain more business or retain what business they do have. Fortunately hospitality guests do not make decisions based purely on price but also include emotional factors that can be supported by developing your brand. With a stronger brand pricing becomes more of supporting role in your marketing strategy than a dominant one.
Branding and Employee Retention
Did you know that having a strong brand will help attract and retain key employees?
In developing your brand your internal branding and how your position your business to employees is very important and can help reduce turn over costs.
The hospitality industry as a whole has seen nearly 75% turnover rate. While a lot of turn over is due to seasonality and the entry level nature of many front of house positions is geared towards students, key staff also leave for companies that they are more attracted to. Developing a strong brand can help in attracting and retaining key employees at all levels who want to be part of your business, because they enjoy and value your culture. Chick fil -A also makes more per unit than the worlds larges QSR by more than 65%. Having a very strong culture is a big part of their brand and their positioning. Not coincidentally the turn over at their restaurants is incredibly low, where hourly staff is 60% compared to 107% at the time of the report. Randstand, a global human resource company operating in 39 countries also supports the premise that strong branding helps with employee retention and that by developing a strong employer brand can have significant impact on your bottom line.
Nine components can be tied directly to branding activities and NHM makes sure that they are all explored when working to help you develop your brand. By working through these components systematically, in addition to competitive research and internal reviews we will help you strengthen your current brand and help you manage it as your business grows so that it will remain true and relevant.