Have you heard about the concept of micro-branding? It is highly unlikely, and that is probably why you are here. Well, to understand this fast-growing concept, we first have to examine the E-commerce industry. But, before we do this, we need to ask ourselves the following questions:
1. Does E-commerce only favor the big brands and retailers, or is there a favorable opportunity for smaller brands?
2. If you are a small brand or retailer, is there a way for you to stand out from the crowd?
An overview of the E-commerce industry
Companies that have invested millions of dollars into their marketing and growing their E-commerce stores are the giants of the industry. It is no secret that these brands have dominated the markets, and it is near impossible to compete with them, especially if you want to engage in aggressive marketing. So, why is it that there is an ever-growing number of small and little-known online retailers that continue to attract more clients by the day? Well, welcome to the world of micro-branding.
The emergence of micro-branding
Small companies that know they are limited in financial abilities have realised that they cannot be on the same track as mega-brands such as Amazon. The only way to remain in the race was to think out of the box and offer the market what these bigger brands cannot offer. And what have they offered? A direct-to-consumer business model professionally tailored for the net-savvy consumer after a unique shopping experience.
This was the birth of micro-branding that has given the smaller companies enough track to captivate the market and earn a good share of profits. The best part is that by taking this path, the emerging and little-known companies utilise their potentials without requiring the financial powers of larger brands. With advancements in management theory, Blue Ocean Strategy
helps navigate market potential.
What is the best way to build a micro-brand?
There is virtually no barrier for any enterprise that wants to be established as a micro-brand. Nevertheless, one of the primary needs is creating an online store that is tailored for the specific micro-market. To do this, you have to identify your target audience and best understand what resonates with them. While there is a lot that goes into micro-segmenting your customers and running a business that will appease them, your priority should be on:
1. Creating a tailored website that is guaranteed to improve conversions. If you want to establish your online store as a micro-brand, you first need the best platform to entice your target audience. Therefore, you have no option but to go for a tailored web design
that will instantly attract the attention of all visitors.
2. Offering unique products and providing excellent customer service. You need to deliver value if you ever want to rise as a micro-brand as the modern consumer has specific demands that must be met. The fact that you are a small store does not mean that any customer will ever compromise on quality. Actually, much more is expected from such a small store as the expectation is that maximum focus is placed on product creation and excellent customer service.
Building a micro-brand is a worthwhile process for small retailers that do not have the money to engage in aggressive marketing campaigns. Since it is a value-guaranteed move, you need to get it right from the start, and the best way to do this is by first investing in a quality website with impact.