Building a Brand That Survives Market Changes

April 13, 2022

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The Ecommerce sector is rapidly evolving and the industry has been witnessing a plethora of market changes across the last few years. Furthermore, with the onset of the pandemic, eCommerce skyrocketed, leading to high competition and swift market shifts.

Building a resilient brand has never been more critical, especially in this era where consumer behaviors and market trends advance exponentially with each passing day. Brands require adaptability to survive market changes and to establish a strong identity that does not fall under the industry’s hurdles.
So how do you build a resilient brand?

1. Establish an authentic brand voice and identity

Your brand voice should connect your audience with your products. Instead of trying to imitate your competitors, focus on building authenticity. Highlight the areas that differentiate you from the competition and develop your brand voice around them. Moreover, focus on building consistency in your brand voice and emphasize strategies that resonate with the audience’s emotions.
Crafting an emotive narrative around your brand induces a feeling of association with your brand and gradually establishes your identity.

2. Practice a culture that values learning and change

Your marketing strategies may be offering you promising results now, but they can come to a halt anytime. Developing a learning culture in your company can kill uncertainty and promote adaptability. Learn to improvise but with extensive analysis and market research. Practice micro-habits that push you to learn and try new strategies and tools. Creating a culture that welcomes change can take your company one step ahead of the competition.

3. Always prioritize Customer Experience

Put yourself in your customers’ shoes and map a customer-centric journey to optimize your website and social media handles. It is crucial to provide an easy navigation process and a clear route map of purchase.
Provide customer support when your customer needs it. Customer experience isn’t just limited to your website experience; it is the customer’s entire purchase journey from being a visitor to a returning customer.

4. Evolve with Technology and Resources

Invest your time, effort and money in acquiring new resources that allow you to automate your tasks. Leverage automation as it will simplify your operations and provide you with time to focus on new discoveries. Play the long game instead of continuously seeking instant gratification. Your revenue will compound as the quality of your products and services increases.
AI-driven personalization, multiple payment processing technologies and interactive merchandising are the next potential game-changers.

5. Build a community

When you create a community, you create a sense of belonging. It has proven to be one of the most effective ways to interact with your audience and instill your branding through customer referrals. A consumer may buy a product for a need/desire, but a brand is bought because the customer feels proud of it and what it upholds. This will help you retain your customer base and build a loyal following.

The Takeaway

These five strategies have been proven to be instrumental in the success of numerous eCommerce brands. The market has been moving in unprecedented ways for the last couple of years, but brands focused on fighting stagnation have grown unprecedently along with it. So establish your grounds before you set off for more growth, as this will always help you tackle market challenges.

Thanks For Reading !

Author - Rithik Valsan


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