Having an economy of scale, it is a powerful asset. In the retail industry big box stores and national franchise retailers always have an advantage over small, local and independent merchants. National brands can dedicate millions of dollars and other resources to marketing and advertising and reach 10s of millions, if not 100s of millions of shoppers. Conversely, local merchants not only struggle to find the capital to dedicate to marketing but are all to often beyond capacity to develop and deploy marketing initiatives they so desperately need.
Building brands take time. From brand awareness on to trust and then loyalty is a process of engagement that is dependent on reaching out to customers where they are and keeping them engaged. ‘Build it and they will come’ is an aspirational fallacy. A local retail brand is not about the business owner; it is about the businesses’ customers. Very few local business owners have the time to reach out to potential customers and to truly engage and maintain a brand narrative that creates a connection with customers.
All is not lost; there is good news for small, local and independent retailers. While national big box and franchise retailers continue to consolidate, grow and enhance their economies of scale they continue to lose authentic connections with the communities they inhabit. While the global economy continues to expand there is an increasing desire with a growing customer base that values shopping and supporting businesses that are grounded in their communities. The success of Small Business Saturday validates this.
Acknowledging that there is a high value consumer base that supports local business is the first step but that doesn’t change the small, local independent business that is inhibited by capital and time to engage this growing target market. Here lies the value of Collective Marketing. By joining a group of small, local independent businesses that share the brand tenet of ‘Local’ the opportunity to achieve critical mass as a collective and engage with consumers with an affinity to ‘Shop Local’ is possible.
In today’s hyper competitive marketplace where the idea that brands compliment a consumer’s lifestyle, every connection that reinforces that brand relationship is crucial. Join the Shop Local movement and align your small, local independent brand with the power of your collective local business community.
For more information regarding how Shop Local Colorado Springs can help you grow your business and expand your local brand contact us at marketing@ShopLocalCOS.com