They Don’t Want Your Product!
(Customers Want the Benefits of Your Product)
Creating and developing a lucrative brand via an online-only presence, with Airtasker’s CEO and Co-Founder of Joe Button, Tim Fung.
Why focus on brand creation?
- Brands create an additional point of difference. If people want your brand, they will pay higher prices (higher margins) and tend to be more ‘sticky’.
- Internet shopping is becoming more experiential, so buyers don’t always buy product on a rationale basis but rather an emotive brand benefit.
- Brands create loyalty, but price deals don’t. Incentives and discounts tend to create spikes, but you may have to keep re-acquiring customers.
How can an internet-only e-commerce business create a brand?
- Use social media to create an online personality – cool social apps like Pinterest and Instagram provide a great platform to express your brand through images, video and social interaction. Leverage this content on ubiquitous channels like Facebook and Twitter.
- Use every brand touch point as an opportunity to express your brand – whether it’s your confirmation email template design, delivery packaging or product swing tags, think about every instance that your customer interacts with you and make sure that it’s part of a branded experience. Tangible touch points are critical.
- Design your customer experience around an emotive brand benefit, not just a logic flow – at Joe Button, we don’t offer 10,000 fabrics, we curate our product down to just 30 fabrics per season to ensure that every shirt fits our brand. We also name the shirts in our Sartorial Collection based on aspirational characters that inspired their design (like Don Draper or Patrick Bateman) to express our brand character and engage the customer with the emotive benefits of buying our products.
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