A comprehensive guide to break through your emerging brand’s growth goals

In today’s competitive landscape, emerging brands with five to fifty units face a unique set of challenges when establishing and expanding their market presence. However, armed with the right tools and prepared with the best strategies, these brands can surpass their competition and unlock unprecedented growth opportunities.

Use this comprehensive guide to discover how you can revolutionize your brand’s processes and strategies, enabling you to create a path towards breaking through the emerging brand category.

Streamline growth with a centralized solution

Having to deal with multiple solution providers can burden your small team with unnecessary complexity. However, by adopting a centralized solution that empowers every department’s success, your brand can save valuable time and prioritize what truly matters – streamlined growth. Whether your objectives involve expanding your franchise system, identifying and developing high-performing locations, optimizing operations, crafting effective marketing strategies, or all of these combined, SiteZeus’ comprehensive range of products is specifically tailored to support your brand throughout every stage of its growth journey.

Learn what drives your brands’ success

Creating a robust and data-driven market plan is essential to ensure successful growth. But before you can do so, you must first learn what drives success at your existing locations and determine what aligns with your brand’s vision. This knowledge enables you to identify what to replicate and what to avoid when executing your expansion strategy. In the initial stages of brand growth, conducting a competitor analysis and aligning your brand’s growth with your envisioned path can provide valuable insights.

Identify revenue drivers

Your brand has opened several sites and some certainly generate more revenue than others. So, what sets apart the great sites from the not-so-great ones? The determining factors behind a location’s revenue go beyond just the number of passing cars or the average household income in the area, and these factors may come as a surprise to your real estate team.

By analyzing your brand’s sales data with third-party data, our correlation analysis solution can provide you with a comprehensive list of the characteristics that have a positive or negative impact on your stores’ revenue. For example, maybe your concept performs really well when it is near grocery stores, but poorly when it is near department stores. This analysis will enable you to finally answer the question of what truly drives the success of your locations, and you can leverage these insights to discover new potential locations.

If your brand has a limited number of locations to study, or you’re aiming to expand into a new market where you currently have no locations, you can analyze your competitors’ sites to understand the market and what draws in your target customers.

Determine true-trade area

Determining the optimal spacing between sites can be challenging. Placing them too close to one another can lead to cannibalization of sales, while spreading them too far apart can result in missing out on valuable market share. This is why mobile location data and drive time polygons can be extremely helpful to determine the true trade area of your locations. By analyzing the path-to-purchase people take to visit your locations, you can gain a better understanding of the boundaries of your trade area.

Analyze customer base

Tap into customer segmentation data to uncover valuable insights about your top customers. Moving beyond traditional demographics, leveraging geosocial data allows you to understand the interests and behaviors of the individuals who frequently visit your stores or your competitors’. By identifying the other locations your customers commonly visit, analyzing their buying patterns, and recognizing the places these customers are concentrated, you can refine your market research and focus on attracting similar individuals in new locations.

Create a strategic growth plan

Once you have a solid understanding of what variables have the greatest impact on your brand’s revenue, you can use this information to support your market planning.

Heat maps are a valuable tool for visualizing these important revenue drivers and positive market indicators, helping you identify markets that align with your target customers, possess the ideal demographic numbers, include synergistic brands, and satisfy your success indicators. By gaining a clear understanding of these factors, you can effectively prioritize your brand’s expansion strategy and focus on markets with the highest potential for success.

Determining the optimal number of locations to open in each market can be facilitated through trade area seeds within SiteZeus Locate, allowing you to drop placeholder pins in your preferred markets. For a more thorough analysis, you can take advantage of our professional service to create a site score card. With this approach, brands can assess the viability of potential sites and evaluate market saturation levels, empowering informed decisions about the number of locations that can be opened without cannibalizing sales or missing out on valuable market share.

Grow your franchise system

One of the most efficient ways of growing your emerging brand is by expanding your franchise network. However, it is crucial you bring on franchisees who align with your organizations vision and values is crucial. Having a CRM platform that suits your brand’s process will streamline the process of recruiting franchisees and selling territories. SiteZeus Sell is an exclusive CRM designed specifically for franchisors. Leverage customizable workflows and assessments to seamlessly acquire, validate, nurture, and close prospects.

Establishing a clear process for mapping, evaluating, and assigning territories early on will set your brand up for streamlined territory management down the road. Starting with a complete set of GIS tools, your brand can effortlessly draw and edit polygons, creating a comprehensive territory plan. Next, evaluate and report on shapes to gain insights into their potential, ensuring territories are not overvalued or undervalued. Finally, leverage organization and annotation capabilities, for easy tracking of available and assigned territories.

Confidently open more locations

When your team has found a prospective new location or a franchisee submits a site for approval, you will need an effective process to analyze its revenue potential. With customizable templates, you can generate insightful reports that contain only the most relevant information for your brand. These reports can easily be shared with your team, facilitating the decision-making process.

If the new location is in close proximity to an existing site, a crucial step in the site validation process is checking its potential sales cannibalization. You can leverage mobile data to run an instant sales impact analysis which tracks the movement patterns of individuals who already visit your existing sites and forecasts the percentage that are expected to transfer to the new location. Optimizing the distance between your locations will ensure that you minimize sales impact while maximizing your brand’s share of the market.

For brands that are building new sites, having a comprehensive solution to track the entire development process will facilitate on-site openings. Leverage tools and dashboards to monitor project timelines, track budget and spending, store important documents, and streamline communication across different departments. With SiteZeus Build, you can create custom timelines that align with your brand’s specific development needs. The platform also offers automation features that adjust future deadlines based on delays or rescheduled events, ensuring that your new locations are built and opened on time and within budget.

Understand and reach more customers

Optimizing same-store sales is a crucial aspect of brand success, and to achieve this, it is essential to have a thorough understanding of your customers. With SiteZeus Market, brands can leverage mobile data or customer loyalty data to rank their top customers and gain insights that go beyond surface-level demographics. With detailed info on customers’ social media activity, online behaviors, and in-store visitation patterns, brands can craft tailored campaign messaging that resonate and activate instant audiences to ensure they’re reaching the right people at the right time. Furthermore, brands can continuously monitor the performance of their ad campaigns, enabling them to adapt their strategies over time and refine their targeting efforts, resulting in maximized return on investment (ROI). This data-driven approach not only enhances marketing efforts but also extends its benefits to real estate decisions.

The journey of cultivating your emerging brand starts with implementing strong processes and strategies during the early stages that can be seamlessly integrated as your brand expands. By teaming up with SiteZeus as your all-in-one solution provider, you can alleviate the challenges associated with managing multiple services across different departments. Take action today and capitalize on the wide array of comprehensive tools and solutions offered by SiteZeus to propel your brand to unprecedented levels of success.