Tips and Tricks for Cost-Effective E-commerce Branding
By Dan Radak
What is a brand? Is it the name of your company? Is it the logo? Is it your product packaging? Well, it could very well be either of these things, or it could be none of them. You see a brand is the first thing that pops into people's minds when they think of your business. In other words, it is not a feature that can be rationalized but an impression or the experience.
To make the long story short, a brand is what you use to appeal to the emotional side of the decision-making process of your customers in order to advance your business. Sure, there are a lot of great branding campaigns out there but the key to branding is that its price depends on the marketing techniques you decide to employ.
Moreover, the problem of achieving this in the digital world is slightly more difficult, seeing as how there is no face-to-face interaction or live product examination to stand behind. With this in mind, here are several tips and tricks that could make your e-commerce branding campaign a lot more cost-effective.
1. Feedback matters
Instead of starting off with expensive analytics which try to estimate what your customers want, you can simply ask them upon the successful completion of the purchase. According to one study, a person who bought from you once already has a 27 percent chance of making another purchase, even without any effort invested on your side. The person who bought from you two times has a 45 percent chance of returning, while after a third purchase, this chance rises up to 54 percent.
If every time they return, they see the feature they complained about fixed, or the feature they praised improved, their overall impression of your brand will improve drastically. Everyone likes to have their words heard and their opinions honored, which is definitely something you can easily turn to your own advantage.
2. Narrow down your focus
A mistake that a lot of e-commerce businesses make is believing that the more products they add to their catalog, the greater the profit. While, in theory, this idea holds true, in reality, diversifying too much can make you lose your corporate identity. On the other hand, by narrowing down your focus to a specific item or set of items, you can easily gain an aura of expertise around you. Adding a product that is unrelated to your industry can make it transparent that you are desperate for money while focusing on an item or a closely related group of items can be great for your image.
3. Web design affects the first impression
If you were to enter a store, you would subconsciously start evaluating the business by its size, neatness and its overall design. This is only natural, seeing as how human brain receives 90 percent of all its information through visual means. The only way to make the use of this advantage in the digital world is through an adequate online store web design. By creating a niche-appropriate custom design, seamlessly adding important e-commerce features and enhancing the sensation of a great shopping environment, you can easily make a platform that creates its own loyal followers.
4. Tell a story
One of the best ways to appeal to the emotional side of your customers is to lay out your agenda by telling a story. The greatest mistakes made here happen when e-commerce businesses try to portray themselves as protagonists of the story instead of focusing on the customers. The key lies in showing your clients what you can do for them and not what they can do to help you grow, expand or achieve your dreams. This is something you should never lose from sight.
5. Have something new to offer
Finally, all the above-listed ideas won't do you much good unless you have something unique to offer. A lower price or a superior product are always ideas but they are not your only options. Going with a customer loyalty program or offering a bundle can be as efficient. For instance, if you were to sell boxing gear online, you could try to offer basic gear in a bundle consisting of gloves, hand wraps, mouth guards and sparring headgear together with a small discount. In this way, you are sparing people from having to search for all of these items separately, while maximizing your sales.
At the end of the day, you still need to approach your customers as you would in a traditional retail, the greatest difference being that most methods you have to use are now in the digital environment. While this geographical distance may pose a certain difficulty, it also gives you some new opportunities, as well as numerous ways to compete with your much larger competitors.