Yes, the cafe industry is booming around the world, and unsurprisingly so, as opening a coffee shop in a day and age when people want to socialize more, work remotely, and de-stress in a friendly environment is a surefire way to build a profitable business in the hospitality industry. Oh, and the fact that coffee is the world’s most popular drug can’t hurt, either.
That said, it’s also important to remember that this ever-growing popularity is making the coffee shop business highly competitive, and that new as well as established companies need to build a strong business strategy in order to continue to grow in 2020.
Let’s take a look at the five things you should do in order to dominate in the new year.
Stand out with branding
There’s no way around it, this industry is becoming so saturated that you need a strong brand presence if you are to rise above the noise, improve brand visibility and awareness, and engage with your customer base in order to attract new ones and keep existing ones at your side. After all, why wouldn’t your customers check out other coffee shops from time to time, especially after they’ve experienced everything there is at your place? The first thing you need to do is to build a compelling brand identity that will inspire them to become your loyal long-term patrons.
To achieve this, you need to shift your focus from the product you sell, to the brand experience you provide. Most importantly, you need to create a set of values that complement the values of your target demographic, and weave those values into your brand’s personality. Next, be sure to develop a unique tone of voice for your coffee shop that you will use in all of your marketing and communications efforts.
This story is from the Mid January 2020 Year 3 Issue 1 edition of Hospitality Food & Wine.
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This story is from the Mid January 2020 Year 3 Issue 1 edition of Hospitality Food & Wine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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