Consumer goods companies: how to launch your own successfully
by Natasha Christou Digital Marketing ConsultantThe rising influence of digital platforms can be a godsend
or a curse to new consumer goods companies — the former if you know how to use
them and the latter if you’re not up to speed. But does digital actually help
new brands become successful? For example; new business owners have less need for
renting a high street property, and sites such as YouTube and Facebook have
provided free advertising that makes the cost of promoting a brand more
affordable. So, clearly there are perks.
Could it be that we need to take standard business models
and practices and simply digitalise them to be successful in 2018? Start-up
customer goods companies need to harness traditional and novel methods of
business to progress — but how do we do this?
Competing in the competitive market
The fusion of traditional and digital business processes is
essential in 2018 for consumer goods companies — especially new ones. The idea
of supply and demand has steered companies to huge profits from the start of
commerce. If nobody wants it, they won’t buy it — do your research to establish
what people want or need. Research online and use the wide reach of the
internet to learn everything there is to know about your market. This will let
you know if there is room for you in the industry, see what is currently
trending, and help you make your range stand out from others.
Outwitting the competition
Competition has been around since the idea of business began
— and this carries on through the digital age. What sets you apart from another
company that sells similar products or offers services like yours?
If you’re new, you need to work extra hard to stand out —
make customers choose you over established brands. Aspects like a cool logo,
slick email marketing strategy and engaging Facebook presence can help. In a
recent study,
research from StartUp Britain (a national, government-backed campaign) suggests
that there are around 80 new businesses launching in the UK every hour, so it’s
clear that entrepreneurial competition is fierce. Remember, people have instant
access to multiple websites and will compare prices before making a purchase.
Making the most of social media benefits
One of the largest perks of having a strong online presence
and truly harnessing digital is the availability of free advertising. Marketing
has always been essential to businesses across the decades. Today, you can
advertise your entire stock completely free of charge using sites such as
Facebook, Twitter and Instagram. Also, networking sites help you build brand
awareness and loyalty, while allowing your brand to engage with and get to know
its audience for future marketing purposes.
Making your brand digital
How popular is digital? According to studies, very, which
means it’s critical to your success that you become accustomed to ecommerce. Over
2017, nearly 90% of UK consumers have bought at least one item on the internet.
Since the dependence on physical stores has eased, start-up customer goods
companies on a budget can grow like never before. E-commerce not only saves you
money on overhead costs, but it also has the potential to reach a large
audience at once.
Let’s look at some statistics and see how massive companies
have used digital platforms to succeed. Warehousing a huge variety of goods, eBay
and Amazon have both become one-stop virtual shops for consumer goods, which
proves that — with digital opportunities — you can also get a seat at the
big-league table. What’s more, ASOS had over 73 million visits in August 2017,
with more than a quarter of its traffic coming from the UK. Other online
start-ups — such as Missguided, Pretty Little Thing and Boohoo — have all also
successfully capitalised on the demand for online shopping and boast massive
turnovers.
There are multiple ways you can use digital to your
advantage, including advertising, boosting brand awareness and driving
potential customers to look at your range. Merging the world of digital with
the established, traditional methods of business, all start-up consumer goods
companies have the opportunity to succeed on a budget.
Omega Plastics, a plastic injection moulding specialist, researched and created this
article.
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Created on May 29th 2020 01:56. Viewed 366 times.