Thursday, June 29, 2017

Branding and Accessibility

Accessibility is one of the five drivers of customer brand insistence in our proprietary BrandInsistence (SM) brand equity measurement system. Accessibility is critical in converting preference or need into an actual purchase. Time and money are the scarce commodities in most peoples' lives, therefore accessibility is related to locations, hours of operation and price. If the brand you prefer is available somewhere near or convenient to you during the hours when you are available and at a reasonable price, you will very likely make the purchase.

A few decades ago, Hallmark discovered that its card shops' typical hours of operation (9 am to 6 pm) was limiting their revenue potential, especially compared to grocery stores and other mass merchandisers that had much more convenient hours. (and the Internet in general) shook up the retail world for a number of reasons, not the least of which was 24/7 accessibility. 

In real estate, the mantra is "location, location, location."

I have been frustrated visiting a city on a Tuesday or Wednesday only to find that its public art museum is closed. Most (so I assume all) museums are closed on Mondays but open other days of the week.

It took me quite a while to realize that a fine dining restaurant in my town is only open on Thursday evenings. (It caters events the other nights of a week.) In the interim, I largely ignored that nearby restaurant because it was mostly closed. 

Recently, I happened upon a place whose hours are Friday through Tuesday from 10 am to 2 pm.

My point in all of this is that your brand must be accessible. Ideally, it is available 24/7 at a reasonable price. 

Here are two other blog posts that I have written on brand accessibility: 1 and 2.

No comments:

Post a Comment