11 Sep Brand strategy and e-commerce
Less is more
Creating and building a brand strategy for your e-commerce store is essential.
According to Guillamme Thibaux, co-founder of Quanta which offers analytics to maximise conversions, 80% of entrepreneurs starting an e-commerce site fail within the first 18 months. Some of the reasons cited include poor planning and forecasting, wanting to sell everything to everyone, poor user content, poor user experience and lack of differentiation.
All of these aspects are intricately linked but a common thread throughout is brand strategy – or the absence thereof – which pulls the elements together, says Sherpa CEO Gary Hendrickse.
“We find that clients start by showing us e-commerce sites that they like. Inevitably, these are the e-commerce sites of competitors. This approach immediately puts them in a me-too situation, flying in the face of the fundamental principle of branding – that is, differentiating. Why would people buy from you if you’re the same as everybody else? How have you changed their world for the better?”
Gary believes that the issue of differentiation stretches beyond the e-commerce site.
“Sadly, too many start-ups still believe that a brand is a logo or name. They lose a wonderful opportunity to clearly position themselves and give their e-commerce business a real advantage from Day One. If you have a limited budget, rather allocate a portion to working on your brand strategy as opposed to spending the entire budget on building an e-commerce site that looks and behaves just like your competitors. Create something unique, focus on the few things that will make your product or service stand out and be noticed.”