5 Brand Strategies to Position Your E-commerce Business Above the Competition
Having a well-built e-commerce website and providing great discounts, cannot ensure that your e-commerce store will be seeing the light of day for years. But what can guarantee, is a unique branding strategy which gives you an edge over your rivals. Now what is a branding strategy, it is a form of connection between the buyer and business. In this e-commerce age, where the power has shifted to the consumer from the business owners, developing a branding strategy is equally important. A successful brand strategy is the ultimate bone of contention between you and your rivals, making you stand out.
Building brand strategy is also powerful marketing, customer retention and loyalty technique tool which is a must-have for both new and established business concerns. It’s important to build your branding strategy and idolize your thoughts into one before diversifying your business, otherwise, results may not be as achieving as they seemed.
In this article, we will discuss five ways to build a fabulous branding strategy. They are;
1. Build the business on your unique selling proposition
The foundation step to build a successful strategy is to form a unique selling proposition. It differentiates between you and others. It should highlight a story, a philosophy around which you built the pillars of the business.
For example, hand-woven handloom is losing its steam due to mechanization. The superior quality and the uniquely done designs are still way better than those produced by machines. Handmade products are time-consuming and take utmost delight and care to produce one product. Handmade products include handloom, groceries, bakery, arts & crafts, etc. They have a niche of their own. You can promote them in your e-commerce store which may be ground-breaking, as well as supporting the families who are dealt in this folklore.
2. Distinguish brand based on product quality
Branding your e-commerce store based on product quality is a smart move which can be used to increase product royalty. Nowadays, if you cannot deliver quality products, people will have a negative impact in buying them, or worse they will try to avoid your product somehow. With the use of social media, any shortcoming of your product will be shared internationally within a short time which can be disastrous for a business enterprise. You are not only losing your loyal customers but also prospective buyers. Remember, word of mouth is still the most prominent way of marketing.
To improve on this, you can add some basic qualities about your product for example:
- Where is the product manufactured?
- What type of material is used for manufacture?
- Where is the material sourced from?
Providing them will entrust belief of the buyers in the brand which can reward you with buyers for life, which should be your goal.
3. Change the branding rules
There are several e-commerce stores present, so how to be the one among the top? You can do the branding of the book, bringing a sense of uniqueness and bonding. The strategy can be too explosive or be normal. For example, we have all seen the success story of Jio. It quickly rose from being the last bencher to well as we say the topper. It’s not that the service they provide or their stream hasn’t been tested before, but a swift change of strategy and infuse of new ideas took it to the top.
4. Personalize customer experience
It would be a fantastic idea if your e-commerce store could provide personalization. It shows that whoever be the buyer, whatever be their amount of transaction it matters less but that every buyer is unique in their own way. This might not cost much, but leaves a lasting impression of bonding and friendliness which can provide you with the much-needed loyalty.
5. Spirit of giving back
When building a business strategy, keep some spirit of giving back. Business will grow, but you must ensure humanitarian efforts to provide some percent of your profits to customers, providing them time to show how grateful you are for them. You can start a donation charity or build a loyalty program for your website.