Connecting to Consumers: The 5 New Rules of Branding
Technology has changed the way consumers connect with companies. As a result, marketing needs to change to adapt to various tech and customer behaviors. However, many brands fail to alter their strategies to master their market. Engage with your target audience by learning about the five new rules of branding.
1. Don’t Pick a Generic Name
Many entrepreneurs think the simpler, the better when it comes to their brand’s name, yet generic names should be a no-go when launching a new business. For example, startup companies such as Pets.com and Mortgage.com might have seemed like a great brand name at the time, but they have since left the market. It’s a little like naming your book “book,” and it lacks creativity. Instead, choose a small yet memorable name that will help define your brand, such as Google, Amazon, or Facebook.
2. Less is More
Many brands are tempted to provide their customers with many products and services, with the aim of increasing their profitability as much as possible. All this might do, however, is confuse the customer while weakening your brand name. If you want people to remember who you are and what you do, and easily make informed decisions, you should focus on offering no more than ten products or services to avoid diluting your brand and product range. Offer a few great products instead of multiple average products to stand out in consumers’ minds.
3. Expand Under a Different Name
As stated, less is more, which might prove a challenge if you want to expand your product range. If you want to increase your offering without confusing the customer, you should consider expanding under a different brand name. It will help you to become a leading provider of your chosen product, so it’s more likely to capture the market. You can even piggyback off your existing brand’s success to increase trust in your new product or service.
4. Promote Who You Are – Not What You’re Selling
Your business is not your product; it is your brand. Unfortunately, many business owners make the mistake of using their website and marketing materials to simply promote their goods and not their brand. If you want to increase your profit margin, you need to develop a website that focuses on who you are, and not what you are selling. People aren’t looking for a hard sell. They want to connect with trusted, forward-thinking brands that are dedicated to high-quality products and services. To convey just that, you should work with BigCommerce developers to develop an aesthetically-pleasing, functional site that reflects your brand and can enhance your conversion rate.
5. Embrace Online Reviews
Did you know that 88% of consumers reportedly trust online reviews as much as personal recommendations? Incorporating online reviews onto your website proves to your customers that you not only value their opinion, but you are willing to grade your brand based on their recommendations. So, its incorporation onto your site might be enough to convince them to make a purchase, which could be before they have even read your glowing online reviews. Don’t forget to ask your customers to leave a review on your website following a purchase, as 70% of consumers are reportedly happy to do so when asked.