In our previous Insight on Taking Your Business Online we covered the overview of key elements in the process.
Today we are discussing Presence - Online Branding and Product from a marketing perspective.
With your existing business you are probably well known in your local area, have a great reputation and love repeat business. If it isn't like this, then it doesn't alter any of these points, it just means you are approaching the same outcome for a different reason.
Let's start with Branding (Presence).
The point we are making is that you will possibly want a different presence when it comes to selling online. There are a number of reasons why:
- The domain you want may not be available. Probably won't be in fact. Trying to promote a brand name that doesn't reflect your domain name makes customers and Google nervous. Would you be confident buying 'Georges Best Fish' from www.stanshardware.co.uk? Most people wouldn't.
- Your name may be awesome in your area, but there's more than one Red Lion pub. It's really hard to make your brand stand out in the global melee online when there are hundreds with the same branding.
- You might want to segment your products. If you currently are a hardware retailer, do you want to sell your whole product range online? From single screws to post rams? Probably not. If you keep the same brand but not the same range you will cause some disquiet amongst your community.
- Profitability varies amongst products. You don't want to offer to mail out a single screw as it just isn't worth it. There are some products you can be a lot more competitive on and still make a decent profit on because perceived value, market price or supplier terms. Maybe have a loss leading, wallet opener but the vast majority of products should be ones you can sell well and profitably.
- Differentiation. Just because you trade as 'Bella's Kitchen Cabinet Company' in Hertfordshire doesn't mean you want that brand as your online national brand. By setting up as Online Kitchens Of Distinction means there is no brand crossover which allows different price points and different product offerings accessing a bigger slice of the pie.
Presence Summary:
When determining your online offering, in essence you are creating a new proposition, a new business almost. But one that leverages your core competences, expertise, product buying capabilities and so is more of a side step, than a restart.
Be guided less by what your current business offering looks like, and more by 'knowing what we know now we would have .......'
Taking your business online is a really exciting opportunity to step into new territories and audiences that would be impossible with a geographic business.
Optimise your brand, imagery, product set and marketing voice to that wider audience YOU WANT rather than be swayed by the current market you have.
Once you have your presence, product and your voice then you need to determine channel - or route to market - which we cover in the next Insight. Stay tuned.