I’ve been questioning myself…
How do companies like Starbucks, whose coffee is highly overpriced for its quality, get away with increasing prices without experiencing the slightest drop in loyalty? They’ve mastered the art of creating a brand that resonates.
If you are thinking about expanding to multiple locations and have the vision to be the Starbucks of your sector, here are the 3 things you need to set up;
1. Create a customer-centric business model
So basically, you need to focus on the customer experience first, your product or service comes after. If people just wanted to buy coffee for the sake of drinking coffee, they’d go anywhere but Starbucks. And save a ton of money.
People buy experiences–or perceived experiences. For example, think about the car you are driving now, what does your car brand stand for when you think of them? Lexus for example, promises luxury and reliability.
I also observed the pharmacy model and noticed how the more prominent groups are dominant in all primary markets. They have the best real estate with excellent visibility, parking, and access.
What’s more, pharmacies are open seven days a week, accept insurances, and have drive-through facilities. In addition to getting prescriptions filled, a customer can also pick up some milk and bread during their visit. In short, these pharmacies seemingly do it all.
2. Create a differentiator, tell your story and be consistent in your branding
Find your differentiator. Think about the services or products that you are promoting now? Well, there are hundreds of businesses like you in your targeted areas. You need to find the thing that sets your business apart and focus on building your brand around it.
One way to set you apart is to tell your story and share it.
Whether it’s the tale of how you struggled for years selling baby dolls out of the trunk of your car or the innovative approach you take when manufacturing baby dolls, everyone has a story. Tell yours to consumers. They’re more likely to want to be a part of it.
Just think about the extraordinarily successful companies, they always have one product or service they’re most known for or that makes them the most money even though they are offering many other products or services.
For McDonald, that’s their burger, for Google, their one thing is their search engine, for Apple, that’s the Iphone, and what about Starbucks? I think you know the answer. You can relate this to your business, what is the one service or product that you want to be known for and makes you the most revenue? The most successful businesses know this and are always asking “What’s our one thing?”
You need to create what we call your one thing, a signature procedure or product that keeps attracting and getting people to talk about…
If you look at multiple-location businesses, do you notice how consistent they are with their branding from the website to how the design of the shop’s interior looks and even the type of location?
Your shops or offices should be 100% standardized, and this is key. The look, feel, colour, smell, all the way to how your staff answer the phone, have to all be uniform if you want to be the Starbucks of your sector.
3. Create a step-by-step standard of procedures for all of the procedures and every role in your company
This is how you can replicate to the next business location without dealing with hassles, it is a fundamental step for all types of businesses if you want to scale.
You need to build training playbooks for every staff position, primarily focusing on customer service excellence and standard operating procedures (or SOPs) for every single main service that you are providing.
Well-crafted SOPs help employees provide service to patients and execute their duties and responsibilities while maintaining the operational standards and expectations deduced from business goals and strategies. These SOPs remove all kinds of subjectivity and the employees get convergent with what to do and how to do it.
You need to create processes and systems for all aspects of running your business so you can ensure the consistency and seamless flow of operation.
But most importantly, you need to build an organization where your staff could develop and grow. The opportunity to allow individuals who begin their careers, for example, as a front office associate to move into an office manager position, and then into a regional director, for example.
Now if you need to speak to us about the custom customer generation plan for your business, I’d like to invite you to take the next step which is to book a 15 min discovery call with us by replying to this email so we can learn more about you and see how we can help you achieve your goals.
Thanks for tuning in and hope to speak to you soon!