5 Ps To Selling Your Brand Online
These days, customers go online to research and check what their options are before attempting to purchase a product. Boost your sales by building your brand online. This is by far the cheapest and most effective way to advertise your product. There is no denying that online presence is a must for marketing a brand. Take these 5 Ps to heart and you're on your way to becoming a successful sales sensation.
This is the most important factor to consider. We are in an era now where customers make sure every penny they spent is worth it. Because of competition, buyers have the power to choose so your best edge against competitor is a product that is of quality and value. Customers will always go back to the brand that they can trust. Nike, which is one of America's most trusted products, gained the loyalty of many by consistently producing quality sports apparel.
Identify your market position. An important element of market positioning is determining your target market. Analyzing your potential customers would mean you are able to cater their needs hence finding opportunities for success in your brand. As with Nike, they've long established connection with consumers. They did this by targeting not only athletes but the typical everyday person. That simply means their market is everyone. Nike now sells almost everything the sporty type would need.
How customers perceive your product will be a make or break. Create an image that will connect with your potential customers. Your market should be able to identify with the product. Nike's famous tag line, "Just Do It" perfectly illustrates a brand's personality. The brand is encouraging everyone to be bold and adventurous just how their products are. Nike is known for introducing innovative products. In 2012, they introduced the Flyknit Racer - created from knit hence much lighter compared to the traditional running shoes. This type of innovation just shows that Nike is dedicated to living out its tagline and delivering new products to consumers.
There's never been a better place to promote a brand than online. In this age of social media, potential customers can easily be reached via Facebook, Twitter, Instagram and a whole lot of other platforms. Social media is acknowledged to be vital in creating brand image and attracting customers. The important thing is to maximize the market's awareness of your brand. The advantage of social media marketing is that it will help you reach target customers worldwide. This is hence the cheapest way if you want to reach a larger audience in a short amount of time.
5. (Market) Players
Analyze your competitors. Know your current and potential competition. Studying their strengths and weaknesses and comparing these against yours will help you identify ways to overtake them. It is also crucial that you are aware of your advantage against competitors. These could be strengthened so as to further optimize benefits.
At the end of the day, as with all other forms of marketing strategy, remember that the important thing is to develop interest in your brand and build customer's confidence. No amount of marketing will equal a brand that delivers its promise.