Amidst the gloomy days of winter, the first thing that comes up to your mind the moment you wake up is your smoking hot cup of Nescafe. Again, I have heard friends who cannot think of leaving their house without their Parker in their purse or pocket.
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The thing that makes the above stand apart is the fact that these are all names of the brand and not that of the products that they actually sell. There is no harm in saying that Nescafe almost personifies coffee while Parker does the same for pens. Such is the power of their brand identity that you are unable to distinguish the product from the brand and these brands are the first things that people think of whenever they think about the product.
This is only possible when there is a highly effective brand strategy. The current trend has shifted the power from the businesses to the consumers which are the result of buyers turning into savvy online shopping. Brand loyalty is declining and people often shift to suppliers who offer a lower price for the product.
How to combat this? Here an attempt is made to help you build powerful brand strategies for your e-commerce store.
But before that let’s understand what brand strategy is.
What is Brand Strategy?
In short, brand strategy assists in defining how your business and products are seen by your customers. It can be said to be the “winning difference” that your company has over the others. It is something that helps to reduce the competition on price and helps your store to stand out of from the competition.
Building an effective brand strategy is something that is essential to develop customer loyalty and give rise to regular and repeat business. So here are some of the actionable brand strategies that you can try right away for your online business.
- Uncover Your USP – In any great brand strategy, determining the USP or Unique Selling Point happens to be a foundational step. The motive is to distinguish your brand from the competitors and give a reason to the customers to opt for your product over the others.
It should highlight something like a philosophy or a story or goal of the product or the business. So think about how your business can stand out and create its own niche in the hearts of your customers.
- Alter the Rules of Branding – At times, a potentially daring and explosive brand strategy works well to bring back all the attention to the brand. This also works for the ecommerce stores. If your product is unique or quirky then you can develop your efforts of your marketing around that product.
For example, you can find a custom that exists among the consumers and then completely shatter it. This may give rise to a loyal customer base. The motive is to create a special space for your brand in an offbeat way to get people talking about it.
- Let Your Brand Stand Out on Product Quality – One of the most effective ways of brand building is to use the product quality of your store as a tool for marketing. Today, if you do not design a product with quality you will hardly find any returning customers.
The worst case is when customers start complaining about the product on the various social media platforms.
If you are constantly able to over-deliver on the quality of the product, you can rest assured that you will be able to retain your customers for a lifetime. Again if your product is something of a buy-it-for-life kind of product, you are all set to go.
- Make the Customer Experience Personalised – Imagine you have ordered something and have received a product that kind of completely blows you out of your mind. Intricately detailed and beautiful craftsmanship has been put to every aspect of the shopping experience and that has not left out even the packaging.
If that is the case, then you can comprehend well that the company has performed their bit of research. This means that they have nailed their presentation and branding of the product with this. You should intimately align with your customers’ choice for this.
- Enjoy the Act of Giving – If you want to win over the hearts of your customers just designing the product and packaging and giving the right service won’t suffice. The most popular brands are those who believe in the spirit of giving back. No matter, how small your ecommerce store is and how much sales you had, you can always share the gratitude with your customers.
Take some time out to go out of the way to thank the customers for selecting you. This does not only position the brand in a way that portrays the feeling that it keeps the customers in mind and recognises their support but also it helps you to gain a customer for life.
The above are some of the tested and tried brand strategies that help to situate your ecommerce retail store above the competition and create your own niche that customers will immediately identify with.