It isn’t news that in this day and age, consumers don’t buy products, they buy brands. Especially today, when e-commerce is ruling the retail world with its convenience, ease of shopping and the innovations that it continues to introduce to customers almost every other day. That being said, there’s never been a more challenging time in the world of e-commerce. There are huge opportunities for new companies to succeed, but only instant success can come to those who introduce new products to highly penetrated markets and dominate those industries.
With online shopping being the primary form of retail and customers around the world being introduced to concepts like live video shopping, it is not surprising that new brands are, first and foremost, trying to make a name for themselves on online shopping platforms. However, doing that can be daunting and intimidating and a lot of e-commerce entrepreneurs lose themselves and their brand in order to achieve success.
So, how can you really build a successful e-commerce brand? With the business environment so fiercely competitive, your branding is what will set you apart from the others. Buyers today have a wide variety of options in any given niche and your company’s branding is the one thing that can compel a customer to choose you over your competitors. This is why branding holds such significance today.
You will need to keep the following steps in mind if you want a brand that your target customers will love. Let’s dive right in!
1. Give a Clear Message of What Your Company Represents
E-commerce is a cut-throat industry and you must have an instantly identifiable brand message that is clearly conveyed to your customers in the blink of an eye – a marketing message that hits them square in the eyes creates enthusiasm and desire, and lets you express just what kind of company you are right away. This is far more than a basic logo and tagline. It must pervade any interaction you have with your target market. Make sure your message is straightforward and consistent across the board, and you’ll see an immediate increase in conversions.
2. Your Brand Values Are Key
Values can be principles, morals, or ethics that are important to you and your audience. These values serve as a compass for your company, guiding everything you do and how you go about it. To figure out your brand value, ask yourself these questions:
· What are customers saying about you? Go through customer reviews or monitor your audience and survey to keep abreast of what you’re doing well and what practices you need to change or improve upon.
· What are your top three priorities? This question will help you figure out what’s important to you.
· What are your personal favourite brands doing? Monitor brands that you love and are fond of because they are probably the inspiration behind your brand and the practices that you follow. You identify with them and share the same values.
Therefore, asking these questions will help you understand and prioritize your own values.
3. Identify Your Target Audience
Finding and targeting the right audience will help you craft a growth-driven marketing plan by supporting your overall branding strategy. As a result, it’s a critical first step in establishing a brand. After all, you can’t be a brand for all and please everyone, can you? You must know, see, and cater to your target audience in order to build and grow a successful brand. The best way to do this is to meticulously build the perfect customer avatar. When you’ve done so, you’ll be able to tailor your purpose and message to their specific needs. The more specific you are, the stronger your brand would be. The trick is to be precise; the right way to do this is to figure out the specific habits and lifestyles of your target audience.
4. Personalize the Customer Experience
Although customer service may not be the first thing that comes to mind when thinking about branding, providing a unique and personalised customer experience will help you develop your brand. According to recent studies, 80 per cent of customers are more likely to do business with a company that offers customised experiences. Consider how you can personalise the consumer experience in a way that speaks to your purpose, priorities, and overall brand identity as you develop your brand.
5. Credibility in the Marketplace
Consumers today are swamped with incentives to buy anything and everything they want, commoditizing businesses that never imagined they could be reduced to this level of competition. When it comes to persuading complete strangers to give you their hard-earned money, credibility reigns supreme. Customer reviews are a great example of reputation and social evidence, two branding cornerstones that will help you increase your profits.
Following these 5 points will help you climb the branding ladder to success. At a time when virtual shopping and live online shopping are ruling the roost, it is important to see things from the customer’s perspective and not what you think is right. Keeping this in mind when you’re developing your business strategy will help you remain focused on your brand goals.