Table of Contents
Introduction
This blog will show you how to build an E-commerce brand inexpensively. Though having a good agency will definitely help if you have deep pockets, this blog will provide you with the initial traction.
Let us first examine the fundamental elements of a world-class E-commerce brand. The framework was developed through observation and collaboration with world-class brands, as well as lessons learned from both successes and failures.
P.U.M.P Branding Model ™
P.U.M.P Branding Model ™ –
- People – Team and Tribe
- Unique Branding
- Mindset
- Product
People – Surround your e-commerce brand with a world-class team that provides value to your customers. This includes creating a tribe of people who are fans of your brand. It all starts with the intention to be a people-focused brand, whether your internal team members, suppliers, or customers are involved. The right relationship brings out the best in everyone on the team. How do you invite world-class talent to your brand?
As previously stated, having an agency or an experienced company that has helped similar brands will undoubtedly be beneficial. However, world-class individuals can also be found in the form of rookies, juniors, and new start-ups.
Instead of looking for world-class individuals in higher-wage countries such as the United States or the United Kingdom, look into countries with much lower average wages.
Unique Branding – Unique branding explains why the company exists and what it stands for. In other words, what distinguishes this brand from others. It is not about providing a unique offer or product, but about a message you believe in. Your Vision, Purpose, and Mission are also visible.
Mindset – Be a problem solver with a strong desire for excellence. It’s a Lean approach, which means test, learn, adapt, and repeat.
Products – Product is the medium through which you serve your customers, and the only way to thrive is to have world-class products that provide value to your customers and have high product margins. In a nutshell, e-commerce is a margin business in which you buy low and sell high. There is little room to sustain a brand if there is no or little margin.
What you require should be nothing less than world class. No ordinary brand, but a world-class one. With the right mindset and clarity of what you want, you can find ways to create it on a budget that works for you.
Word of caution – The term “low-budget” does not imply “extremely low.” Finding an economically viable solution to create a world-class brand is what it means. Determine the appropriate percentage of your potential revenue or profit for branding.
Assume that by having the right branding and P.U.M.P Model ™ – your brand can potentially serve 5x more customers and generate $100k per year, then set aside a percentage of that $100k for branding.
Take it one step at a time to ensure that your business always has a cash flow.
Key Ingredients of World-Class Brand and How to Find them
Customer Insights
Get a lot of information from your target customers. Feedback, reviews, social groups, and discussions can all help you find it. Find out what your ideal customers are looking for.
- What is your customers’ primary need? Begin with your likes and dislikes and work your way up to your true needs.
- What values are they associating with your brand?
- What they think of when they place another order from your brand?
- What improvements to the products or services they would like to see?
- Make use of social media to foster human-to-human communication.
Competitor Analysis
Conduct a thorough examination of your competitors. Make a list of your competitors, segment them, and thoroughly research them. Try to become a customer of your competitor and look for gold nuggets. What ads they’re running, what copy they’re using, what products they’re launching, and other details.
The goal is not to imitate them, but to understand their strengths and weaknesses and, ultimately, to find your own uniqueness among the competition.
- What products are working for them?
- What marketing channels and ad campaigns are they using?
- Who are their main customers?
- What technology stacks are they utilising?
- What kind of promotional offers and discounts are they providing?
In a summary, take shortcuts and adapt.
Also, read our blog about 6-Stages to build a million $ Amazon E-Commerce Brand.
Tools that can be used
- Miro – This is used for creating digital miro boards and conducting research. Take screenshots and simply add them to miro boards.
- Koala Inspector, Wappalyzer, Builtwith – This is used to comprehend the competitor’s technology stack. You can learn about Shopify templates, app stacks, review tools, email marketing tools, and so on.
More tools can be found on this blog. Alternatively, simply Google it and see what works best for you.
Customer Engaging World-Class Content
Contemplate the various types of content listed below:
Brand Defining images and videos – You need professionally executed graphics and videos to create brand-defining images and videos. It may be necessary to spend a little more, but it may be money well spent.
UGC Content – Think about how we can get user-generated content, such as Unboxing. In addition, consider small social media influencers.
Social Media Content – Make contact with someone in your target audience and ask them to create content for you. Create a relationship. Create a list of content creators and a content pipeline that does not require a large investment.
Promotional Paid Advertising Content – Use the user-generated content (UGC) and brand graphics. To get the best ad creative, mix and match. Use a motion-design freelancer or apps like Canva, Videohive, and CreativeMarket. There are marketplaces where you can purchase content.
Visual Branding
Consider Creativemarket. It is simple and quick to create your own branding guidelines, color schemes, fonts, product mockups, and packaging design. You can quickly obtain high-quality branding. You are not required to begin with an agency. When you’ve established a cashflow momentum, invest in an agency.
You can also use Dribble to hire designers from less expensive countries. (Hint: Look into Eastern European countries.)
Make use of Shopify themes with premium support. For any customisation, try Storetasker. You can avoid paying large Shopify agencies.
Position your product so that it stands out and sells based on the 5-Key Elements of Perfect Product Formula.
Give me my formula!Summary
Build a world-class brand by being a creative leader.
The leader has the ability to plan and lead, and once the team is led by a winner, a portion of the budget can be reduced. If the team is not led by someone who is focused and motivated, it will become stuck on simple but inefficient practices.
This may not appear to save you money directly, but a good leader will save you money indirectly while also assisting the brand’s growth.
One cannot expect to be successful simply by listing their product on a marketplace such as Amazon or an E-store. A lot of research and brainstorming is required to attract success and create a brand that customers love.
