E-commerce store needs to pay utmost attention to branding. Here is why?
Branding may seem to be a relatively new idea. Still, it has been around in the form of engravings and watermarks for centuries.
After the industrial revolution in general and the technological development in particular, companies started using logos, custom fonts, and other visual aspects to build a brand and make their products more recognizable.
What do we mean by ecommerce business branding, and why is it crucial than ever for online stores?
If you’re searching for an answer to this question, then you are in the right place. In this blog post, we’ll explore why eCommerce stores need to focus on branding and how they can utilize it to improve their chances of success. But before we get to that, it is essential to gain a better understanding of what it is to grasp its importance.
Branding – A new perspective
Jeff Bezos, the world’s richest person and founder of Amazon, aptly describes branding as; “your brand is what people think of you after you leave the room.”
It is a process of creating a positive perception of your business, its products, and services in a customer’s mind by combining elements such as logo, web design, and a consistent theme across all communicating channels.
According to a Zendesk survey, 87 percent of customers believe that consistent branding across all the platforms, both online and traditional, is necessary for business success.
Importance of branding in e-commerce:
In e-commerce, where new competitors show up every day, a recognizable brand can be a valuable asset in bringing more prospects and retaining existing customers. It can have a profound impact on a company’s bottom line not only by providing a competitive advantage over the rivals but also by lowering the costs of customer acquisition and retention.
Below we share a few more reasons why ecommerce stores need to pay utmost attention to branding.
- Branding creates a strong business identity:
Effective branding can help ecommerce shops to establish a positive brand identity. It allows a business to build a consistent image that reflects its message and core values.
Effective branding can be achieved by crafting an appealing website, an attractive business logo, and focusing on your product and the message you send out to your audience. Therefore, it is important to let professionals like the Logo Design Valley take care of your business’s visual aspects for lasting success.
- Branding builds customer loyalty:
While a nice logo and an attractive website are essential, effective branding goes beyond that. A professional brand builds customer loyalty and forge a positive relationship with the audience. If your products and services deliver on branding’s promise, it will gain trust and garner a loyal customer base.
According to Salmat Marketing Report, brand loyalty is the number one reason behind a customer’s choice to purchase your product.
- It distinguishes you from the rivals:
It’s imperative to set your business apart from the rivals in an era of fierce competition. Branding helps businesses to build their niche and dominate it by creating a positive image.
Proper branding requires thorough research of the market and potential customers to identify the customers’ problems with similar products. Once you address those issues, you’ll be able to sell your unique contribution and establish yourself as an authority in the market.
Consider the services offered by Uber and Ola Cabs. The difference between the two might be negligent, but both the services are still perceived differently by the users. Customers’ feelings associated with each brand are different, and this is why they prefer one over the other.
- It provides you protection from the competitors:
If you’re an established brand in the market, it is obvious that you’ll have several competitors who may want your success. They may make clones and copies of your products and follow a similar marketing strategy, but they won’t be able to take your originality. The importance of a brand cannot be overstated for an eCommerce shop. It is the identity and the blueprint of your business.
- It improves traction:
Effective branding helps you create a sense of trust by communicating your business values to the users. Think of companies like Facebook and Google. They have established a brand and an identity that assures the users that the companies will stay afloat for a long time in the future. Such stability and trustworthiness result in attracting more customers and greater revenue for businesses.
Developing a branding strategy:
Effective branding is a multi-faceted process. It encompasses not only the visual aspects of your business but also what your company stands for. Here are a few ways that can help you develop a proper branding strategy.
- Find your selling proposition: Think about what sets your product apart from the competitors vying for a similar eCommerce glory.
- Understand the target market: Effective branding requires you to identify the elements that can influence your prospects. Conduct market research and leverage the elements that can attract prospects to your brand.
- Work on your visual assets: Online buyers don’t have the facility to touch and feel a product that they have in a brick and mortar store. Hence, it is necessary to perfect your business’ visual assets like web design, logo, fonts, as well as the packaging experience of your products.
- Refine your customer experience: While you have little control over how the consumers react to your brand, you should try your best to align your interactions with your brand guidelines. Improve your shipping arrangements, return policy, and overall communication with your customers.
Branding may look like a challenging process but let it not discourage you. Effective branding will help you stand out from the competition and foster a positive relationship for maximum retention.
Erica Silva is a blogger who loves to discover and explore the world around her. She writes on everything from marketing to technology. She enjoys sharing her discoveries and experiences with readers and believes her blogs can make the world a better place.
Find her on Twitter: @ericadsilva1