Branding is important in any business venture, because it’s the discerning factor that sets you apart from your competition. Fight in the free market without carefully engineered branding, and you are forced to compete mostly based on price.
Having a brand is what allows you to set the right price, and oftentimes, any price, as luxury and premium brands show us. Branding is what gives competitive leverage to your company.
“If there’s one thing I’ve learnt by having worked with over 10,000 Amazon Sellers, including multi-million dollar e-commerce empires, it is that almost always someone will show up and be willing to underprice you” – says Damian Prosalendis, who made his fortune in his late teens and early twenties as a heavily sought consultant to ecommerce brands.
SHOULD YOU INVEST TIME TO BRAND FROM THE BEGINNING?
Without branding, you leave yourself in a very precarious position. You are forced to respond by decreasing your own margins. You caught up in a downward spiral of ever decreasing profit margins. It never ends well.
On the contrary, with an authentic and credible brand, the customers reward you, by allowing you to charge more for your product and by choosing your product over other options, irrespectively of the price.
HOW DO YOU CHOOSE A GOOD BRAND NAME? WHAT ARE SOME ADDITIONAL TIPS AND TRICKS FOR BRANDING?
Brand names are not inherently good or bad by themselves.
Take one of the greatest brands of all time, for example, Apple. It’s named after a fruit!
A brand name is not what it is when you choose it, it’s what you make it represent. Apple made a fruit become the symbol of high quality, sleek, and luxury electronics. They could have been named Lemon instead, and still have accomplished the same result.
In Steve Jobs’s biography, Jobs told Walter Isaacson he was “on one of his fruitarian diets” and had just come back from an apple farm, and thought the name sounded “fun, spirited and not intimidating”. It’s quite likely that if he were on a Lemon farm, the name would have been Lemon.
Does that mean that you should put no thought into the brand name and choose anything?
As long as you do not choose a name that’s hard to pronounce, difficult to remember, or unreasonably long, you will be alright.
HOW DO YOU SET YOURSELF UP FOR LONG TERM SUCCESS?
Undoubtedly, that would mean establishing your brand presence everywhere on the internet, from social media to your own web properties and beyond. An ubiquitous brand is a statement of professionalism and trustworthiness.
If you have a company, be willing to go the extra mile, by setting the infrastructure to offer support outside of the main marketplace you’re selling on, through your contact page or help desk. Damian’s marketing firm, ProsaMedia, heavily advised all their e-commerce clients to not skip over this crucial detail.
Many of them were hesitant to put in the extra effort, because as everyone knows Amazon provides customer service for all buyers shopping on their platform. The sellers aren’t obligated to offer additional support. However, sometimes it’s hard for customers to navigate Amazon, or even find the help page. On the contrary, they can easily Google “YOUR BRAND NAME + support” and land on your contact page.
Ninja Tip from Damian Prosalendis: Stress that in your autoresponder sequence after they purchase, mention it on the packaging, and again in a flyer inside the packaging. It will save you from many negative reviews, and will make your customers assured that you will be there for them.
Little things like this make a big difference, but you can’t imagine how few Amazon Sellers or business owners in general actually do them. In Prosalendis’s experience consulting Amazon Sellers, it’s usually the bigger brands, that make millions which do this.
It’s not the sole reason behind their success, but it’s surely a fundamental building block.
WHAT ARE SOME ADDITIONAL TIPS AND TRICKS FOR BUSINESS BRANDING?
You should also put a lot of thought on how you design your packaging, if you have an ecommerce brand, or the appearance of your store if you have a physical business presence. Most products, businesses and shops are pretty much similar in terms of quality. It’s the perception of the product that changes. Why are cereals not being sold in plain white boxes?
Because their packaging is what affects the perception of what’s inside, even though what’s inside may not be distinctly different from the content of the box next to it.
So, your “business packaging” and presentation serves as a conversion tool. Not many business owners think about it that way. The majority pays little attention to it and designs something amateurish or generic. Many even totally ignore its significance and package their products in plain plastic bags.
That doesn’t only kill your on-site conversions, but it also ruins your chances of creating brand loyalty and incentivizing future purchases. When the product arrives at the customer’s door, they want to feel they got their money’s worth. Good packaging offers that satisfaction and aids in improving the overall experience.
Damian Prosalendis is an Amazon FBA expert, million dollar brand builder and internationally published author of «The 10 Mistakes Even Pro Amazon Sellers Make»
10,000+ Amazon Sellers from 116 countries and 4 continents have trusted Damian and his team at SPXMAC, the world’s largest consulting firm for Amazon Sellers and eCommerce brands.
Prosalendis helps new Amazon brands scale to a million dollars in revenue, and established brands scale past beyond that. He’s taken intensive business training from Harvard Business School and learned marketing from the world renown psychologist Dr.Robert Cialdini, who wrote the famous bestseller Influence.
Damian has appeared on INC magazine as the Top Consultant to Million Dollar Brands, spoke on stage in front of almost 2000 Amazon Sellers at one of the world’s largest conferences, the Amazing Selling Machine Summit, and his businesses have been featured, mentioned or interviewed in world class media publications such as Forbes, INC., Huffington Post & International Business Times.