We can’t underestimate the impact signs make on potential customers. By displaying who we are and what we sell to those who can create income for us, we actually start that process for us to make that income. But we can have the world’s best staff, the highest quality product, and the still make no profit due to being invisible to clientele.
Thus making and directing your potential clients to you is incredibly important. One interesting area is behavioural economics and the applications to marketing.
Marketing Magazine highlights:
“Behavioural economics, the theory behind why humans make economic decisions, has been in the making for forty years. But new research has found advertisers can leverage the theory in startling ways, increasing footfall in a shopping mall by 75%.”
This can be applied to multiple aspects. For example, shopfitting can help showcase your store in ways that would otherwise make it invisible. Even new owners of businesses recognise this. Masterchef South Africa 2014 winner, Roxi Wardman, and her fiance even mention the importance of shopfitting in creating their first cafe.
Staying with South Africa, retail shopfitting in Johannesburg has proved important to the business central of the country. Consider for example how brands have flocked to South Africa – and Gauteng province in particular.
“From Prada and Louis Vuitton to Paris Hilton and Tiger of Sweden, there is hardly an international label out there that you can’t find in a mall these days.
“This month especially, fashion editors have been kept busy with a series of fashion retailer launches, mostly at Sandton City’s dazzling new R185-million Diamond Walk.
“To much fanfare, the Diamond Walk opened this month and now houses a host of flagship stores of the world’s most coveted fashion brands, including Prada, Ermenegildo Zegna, Billionaire Italian Couture, Dolce & Gabbana, Giorgio Armani, Burberry, Jimmy Choo, Gucci and Arque Champagne Crescent.”
Brands here already are famous: they merely require space in which to sell. Nonetheless, the space in which they’re operating proves helpful to marketing themselves to potential customers. Thus, it’s not just up to business brands themselves but to the spaces in which they can operate.
All this shows that marketing is complicated because it’s dependent on human thinking and behaviour; while we can use tools and concepts from behaviour economics and other disciplines, it doesn’t guarantee we’ll be selling well. But we can at least attempt to do so and recognise that being the best at business means being the best at promoting business.