The Importance of Brand Recognition When Creating an E-commerce Solution
Some years back, e-commerce stores thrived on their aesthetic appeal to consumers. This trend has drastically shifted, and marketers have trained their efforts on brand recognition and customer experience. Brand recognition is a measure of the recall value of your business within its target markets. A brand with a higher recall value builds up positive sentiments, which translates to a strong position among competitors. Let’s look at the importance of brand recognition when building an e-commerce website:
Your e-commerce website’s brand recognition enhances customer loyalty
Brand recognition always develops a sense of security. For instance, if prospects see your e-commerce website out there and recognize it, that recognition tends to cultivate a sense of security that they have selected a reputable brand. This scenario explains why it’s pretty hard to buy from a company you’ve never seen before because you feel insecure that you might get the wrong quality product. In the business of e-commerce, getting customers costs money and time. In the same vein, retaining these customers and converting them to repeat clients is vital to your e-commerce solutions’ long-term sustainability. Brand recognition plays a significant role in retaining clients and converting them into repeat clients.
Your e-commerce solution’s brand recognition beefs up product awareness
Products have a way of beefing up client recognition. For instance, brands are uniquely recognized by their packaging, logo or shape. They can also be recognized by sound when an advertisement dances across the screen with the advertiser talking about the product. This perfectly explains how brand recognition boosts product awareness.
E-commerce websites with strong brand recognition penetrate the market easily and establish market position
It’s a no brainer that e-commerce solutions that have managed to develop strong brand recognition among their customers find it easy to penetrate the market, dominate it and strengthen their position there. For example, a research by the International Journal of Research Marketing found out that brand recognition substantially boosts market performance by maintaining product, and service quality.
Your e-commerce website brand recognition can help you find investors easily
Every e-commerce owner dreams of growing their brand to match giant online retailers like Amazon, eBay, and Alibaba. Such a dream requires huge outlay of money. However, if your brand is recognized in the e-commerce industry, investors can be more than willing to invest in your business because they are sure of faster ROI.
Helps e-commerce solutions to incorporate new products in their brand
E-commerce websites with strong brand recognition find it easy to introduce new products in their line of business. This is because the brand is already popular in the market, so they won’t initiate rigorous and costly marketing campaigns to push the new product through.
Brand recognition is critical to the long term prosperity of your e-commerce websites
Advancements in the internet and digital technology have made brand recognition significant. The population owns more mobile devices than ever before. Record numbers of people are interacting on social media. All this means that these people can communicate your brand fast. So cultivating strong brand recognition in terms of product and service delivery, good business practices and community involvement can make your brand have a long staying power.
Your e-commerce website clients will pay premium if your brand is recognized
When your e-commerce solution has strong brand recognition, people are willing to pay premium for your products and services because they recognize the brand and know its quality. For instance, a brand like Ralph Lauren lists its fashion brands at a much higher price compared to other fashion brands because it has cultivated powerful brand recognition. People don’t mind about the prices of their items anymore.