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How the Right Image Boosts Profits (Part 2)

Create a compelling brand that tells your ‘unique’ story about price, value and service

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 coin laundry 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.”

QUESTION TIME

Ask your customers questions that help to reveal their perceptions of your image when it comes to service and price, and their desires for the most attractive coin laundry experience. Here are some examples:

  • What brought you to us?
  • Did you find what you wanted?
  • Did you buy something else? Why?
  • Were our prices as low as you desired?
  • Did you receive the service you needed?

At the same time, ask questions that uncover unstated customer expectations. Here are some examples:

  • What are the three top things you consider when you shop for a Laundromat?
  • How important is price?
  • How important is service, and what service in particular?

Then ask questions that help you measure where you are relative to your main competitors. How do they compare with you in the customers’ minds? Here are some examples:

  • If you are shopping for a Laundromat, what is the first company that comes to mind?
  • What is the first place you would choose to take your laundry?
  • Why that company over XYZ Company? Price? Service?

You can pursue this same customer-centric research in areas beyond price and service.

“From your customer surveys, you can discover your strengths and weaknesses,” says Banks.

Post-service interviews are great vehicles for this purpose, because the customer experience is still fresh.

It’s best to interview customers while their memories are strong. And interviews need not take long, adds Banks. “It’s amazing what you can learn by talking with people for as little as five minutes.”

Check back Monday for the conclusion!

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(Photo: ©iStockphoto/Minerva Studio)

Have a question or comment? E-mail our editor Bruce Beggs at [email protected].