December 15th 2023
Have you ever thought about how the location of your business can affect your business? Despite many brands nowadays having a huge digital presence, physical locations and a permanent office address can still play a huge part in how people view you.
You could be a young tech business thriving in the bustling streets of London or Dublin, or an established locally sourced trinket maker based in a serene and remote village on the coast. Where these hypothetical businesses are located suits their brand, right?
Today, we’re going to give you 10 reasons why the location of your business can contribute to the public perception of you as a brand, whether you’re an office-based company or a shop looking to make waves.
Credibility – Garnering Trust in Your Brand
Let’s start with credibility. If your brand is situated out of a reputable area that’s known for big business, people are more likely to build trust with you faster. You’ll typically see this with luxury brands, which tend to coalesce around affluent areas in London for example.
You want your customers to see your location or office address and associate it with quality products or professional services, so choosing the right place that fits with the identity of your brand is a must.
Brand Image – Your Location is Your Stamp
As a business, you want to project to the world how you wish to be seen. This is a constant evolution for many brands across the world, and where you are situated plays a role in this too.
Newer brands which set up shop in an up-and-coming area can be seen as innovators, striving for the next highest goal, and standing shoulder to shoulder with giants. On the other side, we may see many established brands which have existed for 100 years or more, located in historic districts, giving them a reliable and homely feel.
When based out of an office, the importance of branding in the office space also becomes a factor, as visitors will see the love and care you’ve put into crafting your brand both internally and externally.
Audiences – Hitting the Right Target Demographics
It’s easy to understand that different locations can attract different types of people to your business. What’s more important to understand is how this can affect your success. Conducting research to find out why customers keep coming back to you, and their ages, can put you in good stead when choosing where to ultimately base yourself.
You want your brand to resonate with the right target audience, so placing yourself right in amongst those who may be willing to do business with you is crucial.
Competitive Advantage – Shining Brighter Than Your Competitors
Strategically speaking, your office address can come with a myriad of benefits. Not only does it allow you easier access to your immediate customer base, but a prominent location also gives you the opportunity to market harder and outshine those who are operating in a similar business vertical. These prominent locations also give you the ability to upscale your office, as they typically come with more available space.
On the flipside to this, you can put yourself at a disadvantage if trying to reach those very same customers but from a location which doesn’t suit your brand, or which has a lesser reputation.
Perceived Quality and Pricing – Knowing Your Worth
Affluent areas of cities are more likely to charge premium prices for their good or services, while less-affluent areas tend to be associated with budget goods where people can save some money.
If your business is focused around premium goods, investigate the areas of your city where there are more likely to be higher earners, and establish yourself there. Conversely, if you’re a business offering a more budget-friendly product or service, you’ll also have a wealth of options on where to set up shop outside of the higher-end districts. It’s all about knowing the worth of your brand and situating yourself where you know you can garner solid business.
Ease of Access – Convenience is King
This may seem like a no-brainer, but people like places they can reach easily. Having easy access to a shop or business’ office can promote a positive view of a brand over time, and all because you chose the right location from the start.
Customers love to save time and effort, and the less time they spend getting to your business, the more time they can spend with your business. Choosing a location with good transport links, parking (if necessary), and a well-defined entrance will subconsciously have your customers thinking “Well, this place was easy to get to. I’ll come here again!”
Visibility – Being Recognised on the Street, Literally
Being as visible as possible is incredibly important in modern business. If you’re able to situate your business in a location with high footfall, such as a high street, it will give your customers time to recognise your brand more easily as a mainstay.
Over time, this will increase your brand awareness, as potential customers make note of where you’re located if they ever need to visit you.
Networking Opportunities – Being Part of a Bigger Picture
Location of your business doesn’t just impact your customers; it can also help your business relationships too. Being in a bustling business district with other big hitters of your industry can present great opportunities for networking, collaboration, and general connectivity to those businesses around you, and a prominent office address helps to facilitate this.
You can increase your reputation by working with those businesses on different endeavours, boosting your professional profile and solidifying yourself as part of the community.
Adaptability and Flexibility – The Bendy Backbone of Business
Sometimes it’s nice to settle down and be sure that you’ve picked the right location for your brand. But, in this day and age, business is a lot faster moving than ever before.
Sometimes, brands will need to be more flexible about where they base themselves, picking up sticks and moving to another area of a city that’s developing fast as a hub for business. This is not an inherently bad thing by any stretch of the imagination. In fact, it can give your customers a renewed sense of what your brand is all about, as they see you striving to be an innovator in the space. If you’re based in an office, this could ultimately mean moving offices to a location which better suits your brand.
Local Culture and Values – Understand the History
Your business should always understand the values and history of the location it is based. The culture of the area should align with your own company goals which, as we’ve previously mentioned, will help you to connect with more customers, and more importantly – retain them.
Fostering goodwill with the local community will always set you in good stead as a younger brand, as you aim to be embraced by the very community which is helping you to grow.
Where you choose to base yourself as a business can have a huge impact on brand awareness, brand perception and perhaps most importantly – your bottom line. We hope we’ve convinced you today that the old adage ‘location, location, location’ really does ring true when it comes to choosing the right office address.
Speaking of locations, if you’re ready to make the move and boost your brands’ prospects even further, head over and take a look at our range of serviced offices and managed office spaces today, to find your perfect office in the most desirable areas.
