In the increasingly competitive world of web stores, one thing is for sure, the ceiling has not yet been reached and there is a big increase in online sales, which has grown even more with the pandemic that caught us all and changed the way we live every day.
Focus on a Clear Mission and Vision
Let’s face it. The vast majority strive to achieve appeal in the mass market by offering a wide range of products that target a wide range of customers. However, while this is certainly possible for large brands with well-established sales tunnels, this is easier said than done for smaller businesses.
Instead, developing a unique vision and mission is often the key for young businesses to break through incredibly loud noise. This can usually be achieved by focusing on a specific niche and positioning around specific goals that you and your brand are striving for. These goals can relate to quality, the environment, your employees, and many other aspects.
Think about how your brand can improve the world we live in and what your customers need to live a better life.
Once you determine what your brand stands for, it’s time to present your products to the right people. This includes conducting extensive research on your target niche and formulating a strategy that applies these insights - helping you get to know your ideal customer and identify potential points of interaction to build your marketing goal.
Develop Your Partner Network
As soon as your first marketing efforts start to attract early customers, it’s time to tailor your business. To achieve this, many brands establish partnerships with non-competitive and synergistic companies in their web stores - helping to leverage their customer base and resources for a combined net positive impact for both companies.
Take Adidas for example. Although Adidas is known for its sneakers and sportswear, it has managed to attract a wider customer base through its partnerships with various non-competitive brands such as Prada. In doing so, they took advantage of extensive cross-promotions and media coverage, helping to increase sales and strengthen brand awareness for all parties involved.
Carefully selected partnerships can be lucrative in the short term and strategic in the long run. This is especially useful for newer and growing brands, as it can be a way to quickly consolidate a market position.
Become Your Influencer
Influential marketing is fast becoming one of the methods to access many brands that want to market their products, build awareness and encourage customer engagement.
As more and more brands seek to take advantage of influencers as part of their social media strategy, the market becomes less saturated, while the most successful influencers with the best engagement and analytics rates are overwhelmed with demands - with this competition encouraging cost and barriers to entry. Moreover, with influencer fraud now on the rise and more than 60 percent of influencers now using artificial methods to increase their followers and other metrics, companies now need to be vigilant in allocating their budgets.
However, while it is certainly possible to achieve a positive return on investment (ROI) by hiring influential people to promote your products, you can optimize your spending by forming important channels by growing your followers on relevant social media platforms by providing added value.
This is usually achieved in one of two main ways. The first is simply to increase your brand’s presence on social media to direct influencer status. To have the advantage of creating direct relationships with your customers, helping to retain customers, and increase the review time of your products and services.
Another option is to build a general channel covering related topics and then position your brand as a sponsor or recommend your products. This gives you far more free space for the type of content you can build and the size of the audience you can address, but there is likely to be a reduction in your conversion rate.