E-commerce – short for electronic commerce – is an online consumer-based market. Since the early 90s, millions of different businesses and entrepreneurs have engaged in this endeavor. Nowadays, this online business of procuring products and services over the Internet has evolved to become an essential aspect of our everyday lives. The main benefit of e-commerce is that it connects consumers and providers from all over the world. Even the popular social media platforms are endorsing e-commerce, by allowing various businesses to run specialized marketing campaigns, promotions and even open up shops on their platforms.
However, all the benefits and convenience e-commerce has for both consumers and businesses alike have made it increasingly popular, which ultimately made the market overcrowded. Today, businesses struggle to make themselves known and stand out in the crowd. Still, one method proved more reliable than others in cutting through the noise and attracting desired customers, and that’s personal branding. Here are a few reasons why developing a personal brand for your e-commerce business is so important.
Helps differentiate your business
As mentioned, the e-commerce market is saturated with various businesses and their promotions. Even the consumers have difficulties finding the right e-commerce business that will suit their needs. In addition, e-commerce giants, such as Amazon, are dominating the market, making it almost next to impossible for smaller businesses to be heard at all. That’s why small businesses and e-commerce startups have difficulties attracting the right customers and establishing a regular cash flow. However, the businesses who persist eventually find a gap in the crowd to make themselves widely known to consumers.
By developing a personal brand, your e-commerce business is able to attract customers’ attention more easily. The brand itself speaks about something unique that other businesses may not have to offer. Still, you’ll need a good branding strategy to identify your unique selling proposition (USP) that will help your business stand out and ultimately make it precious to your target audience. This unique selling point can vary from customer service and return policy to unique product features – anything that your customers can’t find elsewhere and will instead turn to you.
Helps build loyalty among customers
Brands normally favor better relationships with their customers than any other business. The main reason is that customers often identify with their favorite brand on a more personal level. Brands are therefore designed to inspire loyalty and help customers connect with them emotionally. Each brand has its own unique way of communicating with its audience and establishing long-lasting and more personal relationships with them. The audience often identifies with the brand’s identity and brand’s persona, which are uniquely crafted to suit the customers’ preferences.
Each brand carefully chooses the color outline, fonts and even the tone of voice in its design to help further connect with its customers. If you have trouble designing the right visuals that will inspire emotions in your customers, consult with a professional e-commerce web designer that can help out with that unique brand design. Furthermore, carefully designing a brand to suit the customers’ needs helps them become more loyal. Even if other businesses offer something better or something cheaper, your loyal customers won’t make purchases elsewhere.
Helps promote your business further
Customers that are satisfied with your brand can easily become loyal. It’s no secret that loyal customers who identify with their favorite brands are also their most trusted brand advocates. Not only will they promote your business to their friends and family via word-of-mouth recommendations, but they will also happily share your content on social media and help improve your visibility and reputation. Having satisfied customers who promote you on various media channels is a great way to gain new prospects and attract more customers.
Moreover, branding will improve your recognition and with help from loyal customers, your products and services will become widely known and famous. This will help your business grow over time because even consumers who aren’t part of your customer base will more likely purchase your products. The main reason why people are more trustworthy toward branded products is that they’re clearly defined and that the brand’s reputation guarantees quality.
Helps improve customer service and support
Brands have open two-way communications with their customers at all times. That communication is crucial for maintaining good relationships and for monitoring customer behavior. It’s also crucial for tracking how customers react to innovations or new features. But most importantly, this communication is essential for improving customer service and customer support. Brands need a proven way to retain their customers.
In fact, existing customers spend 67% more than new customers and by improving the retention rate by just 5%, brands are able to increase their profits by 95%. That’s why brands always look for feedback from their customers and are openly listening to what they have to say. That way, brands are not only showing customers that their opinions matter, but they also leverage information to improve customer service and support. After all, every business highly depends on customer satisfaction and what better way to improve that satisfaction than to listen to the customers themselves.
Personal branding for an e-commerce business is essential for standing out in a crowded market. Consumers prefer doing business with brands they’re familiar with to experimenting with fresh business on the market. Branding is the key to establishing good relations with the target audience and ensuring your business will not only remain competitive but also remain relevant to customers.
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