- On September 18, 2018
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For those who understand the value of a strong product brand, it’s never been a better time to leverage your product brand on Amazon.
Whether you’re an established Amazon business with great sales or an emerging seller just starting out, there’s one fact you cannot ignore: If you want enduring success in the ever-changing world of Amazon, you can’t ignore the importance of having a strong brand.
Just ask sellers who have seen reliable, consistent growth on Amazon how they achieved success. They’ll likely tell you that optimizing their listings, using the right keywords, and hiring a listing expert got them to the top, but it was their brand that helped them stay there.
Because when people form genuine relationships with your brand and connect emotionally to what you’re selling, they’re bound to become loyal customers. And because once you’ve done all you can to maneuver Amazon’s algorithms, get to the top of Amazon’s rankings, and control who sees your product, when, and how often, one simple fact remains: Products don’t sell. Brands do.
Once you have a brand and not just a product, the opportunity you have to leverage Amazon’s platform to build your brand and compete with large, established brands is staggering. Just consider the following statistics:
– 80% of shoppers use Amazon to discover new products or brands.
– 53.4% of shoppers are more willing to buy a brand they’re not familiar with on Amazon than they would be on any other store.
That means that if you’re a small brand looking for big sales and long-term growth in the ever-changing, ever-profitable Amazon ecosystem, now’s the time to leverage Amazon’s platform to build your brand. And you won’t even need a $100K+ marketing budget to do it.
Wondering how, specifically, a solid product brand will help you reach your goals? Here are 6 reasons.
A strong brand allows YOU to control buyer perception.
Your business isn’t what you say it is—it’s what they say it is. With a strong brand, people will have fewer misconceptions about who you are, what you represent, and the unique benefit your products offer them. A clearly defined brand identity ensures you’re seen the way YOU want to be.
You can charge a premium.
Weak brands often end up stuck in un-winnable price wars. But while they’re competing on pennies, they’re losing dollars. With a good brand that customers connect to, your perceived value will be higher, and you can charge more. In short, give customers a great experience, and you beat the competition, at any price.
You’ll attract more of the right customers.
As the playing field becomes more saturated, those without strong brands increasingly struggle to acquire new customers. But successful brands understand that customers buy products based on emotion, not just logic. If you understand who your target customer is and arm yourself with a powerful brand that resonates with them, you’ll stand out from competitors and get more new customers in the door.
You’ll be more memorable.
In today’s noisy marketplace, dull, weak brands lack that X-factor blend into the background. A strong, consistent brand, however, sticks in the mind and makes a lasting first impression, so you’ll be at the top of their mind next time they need your product.
You’ll build loyalty—and profits to match.
Without a strong brand, you need to constantly pour money into your marketing to stay in front of customers. With customer acquisition costs constantly on the rise, you’re likely hurting not just your margins, but also your long-term growth prospects. Strong brands engender loyalty, and loyal customers are by far your most profitable. When they like and trust you, they’ll keep coming back again and again—and tell their friends about you, too.
You’ll gain independence and opportunities for growth.
Leaving your business’s success in the hands of a third party may be stunting your growth—and leaving your business vulnerable. With strong, healthy brand, you don’t need to be dependent on an overcrowded third-party platform. You can build a thriving business and customer base on your terms, and ultimately extend your opportunities way beyond Amazon.
The Bottom Line?
Ultimately, Amazon sellers are in need of a paradigm shift: rather than consider themselves Amazon sellers, they should consider themselves a brand; and Amazon as their primary distribution channel. In this model, every customer touchpoint, rather than being just another step in the sale, becomes another opportunity to communicate their brand message/story and cultivate more loyalty toward their brand.
When you focus on building your brand the right way, you can be sure that you’ll not only grow your sales in the short term, but you’ll be setting up your business to succeed far into the future.
Want to learn how to implement some of these branding techniques into your current Amazon business? Check out Meny Hoffman’s free guide, “7 Simple Ways to Build Your Product Brand on Amazon.” The guide offers practical tools and tips for leveraging your product brand on Amazon’s platform, so you can stand out and sell more.
Ready to dig deeper? Schedule a free 30-minute “Brand Audit” with Meny Hoffman.
Meny Hoffman is the CEO of Ptex Group, an award-winning marketing, branding, and business solutions agency headquartered in Brooklyn, NY. A lifelong entrepreneur, he is passionate about collaborating with growing businesses to create winning strategies that allow them to lead and flourish. Meny is also the founder of the LTB (Let’s Talk Business) platform, which offers business education to entrepreneurs and businesspeople looking to learn, grow, and lead. He is a proud husband and father of seven.