How to Build a Rock Solid E-Commerce Brand 101 – Lesson 1

How to Build a Long-term Brand Online

 

Lesson 1 – The Basics  of a Strong Brand

Lesson 2 – Attracting Fanatics in your Niche

Lesson 3 – Using Facebook & Instagram to Grow your Audience

Lesson 4 – Using FB Groups & Influencers for Profitable Launches

Lesson 5 – How to Use a Simple Video to Skyrocket your Sales

Lesson 6 – 3 Strategies to Get 100 Reviews Fast

Lesson 7 – Be Innovative: Why having a 'New' Product in your Niche is Crucial

 

Lesson 1: The Basics of a Strong Brand

 

 

Purpose & Plan: To get to $100,000 a mo in sales as quickly as possible, the most straightforward way.

 

  • If you combine good products and a brand with individuals that want it, getting to 100k a month can happen very quickly
  • Are you showing your product in front of the right people and are you following the plan?
  • Once a 100k a month you have proof of concept, this is when you become actual “entrepreneur”
  • #1 thing we have to have in place….Set the goal of 100k a month…..We need to work toward 100k a month….This is where we are GOING to get…..Got to set a plan and strategy
  • Date a sticky note 6 months from now and set on desk everyday that you will have a 100k a month biz….
  • 3 to 5 products selling between 20 to 40 sales a day at an avg price point of $25 is about a million dollar business.
  • Can we add 3 products to our existing line, can we get them to 30 to 35 sales a day over next six month at a price point of $25??
  • Fewer products at higher profit margins and more sales.

 

3 Things to help accelerate this plan:

 

  1. High Profit margins: Product that we sell are positioned to be high profit products. This is important so we can spend more on advertising and marketing.
  2. High Volume: Can you get to 20+ sales a day
  3. Repeat Customers: Can we turn our existing customers into repeat customers

 

  • Price is the worst differentiating factor in ANY business. The person at the low end often wins a certain section of the market…… ALL the other action happens elsewhere
  • HUGE MISTAKE: This person is selling for cheaper then me so I am going to drop my price. WE DO NOT WANT to play the low price game….
  • ONLY way to do all 3…..building a brand not just selling products!
  • When you have a specific brand it makes it easy to market your products to the right audience.
  • Shamwow and Snuggie…..examples of choosing a product and not a brand...both companies out of business now.
  • Clear customer base with multiple products, modest advertising and strong brand identity….. Is how to sell a business for $100 mill.
  • Much easier to sell company that is a complete brand…..not just a couple good products
  • If you brand right you keep customers longer, your profit margins go higher, the advertising is easier, and you can sell company for more money.

 

4 Elements to a brand

 

  1. Profit Margin: Hard to build a business without margins
  2. Difference: Where are you different? “My product is better, cheaper” is not good differentiator.
  3. Audience: Who are you launching to….Who is your product for? How big is the audience? Where do they hang out?
  4. Brand Story: Not how you founded the company…..Brand story is what you stand for.what you represent that unifying web that connects all your products.

 

Case Study: Bullet Proof coffee great brand and brand story:

  1. Audience: Bio Hackers, health enthusiast, people who listen to podcasts
  2. Difference: Processed in mold free environment. Lab tested…..What did this do? Gave him a coffee that is twice the price of competitors.
  3. Since he has great profit margins he is able to spend more money on future product launches.

 

  • Build a brand that people want to buy from.
  • Case study: Organify…..3 times the price of competitors and outsell most of them
  • We play the brand game not the review game not the price game….We are in control of the profit margins.
  • It is very hard to sell products…..it is very easy to sell to people.
  • People with very specific demands and desires….getting them to buy a product is easy.
  • Who is the person behind the purchase?

 

4 steps to 6 figures in 6 months:

    1. Define the person (ideal target customer)
    2. Get in front of the people / Collect those people (IG/FB ads / content)
    3. Communicate your difference
    4. Send them to AMZ  

 

  • Most people are doing this in the reverse order.
  • Most people struggling only focus on step 4

 

 

ASSIGNMENT

#1 WHO is the person behind your purchase?

What group of people most enthusiastically pursue the benefit our product or service provides?

 

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