Post by account_disabled on Jan 10, 2024 8:55:52 GMT
How to build brand strength? But let's get down to specifics. How do you know if you have the right brand power? Mainly through the community built around the company. E.g.: Do you have a group of supporters who write comments under your posts? Do you have a lot of positive feedback? And now more analytically: What percentage of your revenue comes from returning users? If you have an e-commerce store, you can easily check it in Google Analytics. Go to the Recipients/Behavior/New and returning tab. Below we present a healthy distribution of New Visitors and Returning Visitors. Note that returning users constitute 30% of all website traffic and generate as much as 80% of all transactions! This is where the answer to why it is worth building brand strength lies. The conversion cost (of performing the desired action, in this case a sale) of a returning user is definitely cheaper.
This means that we will sell more at a lower cost. The stronger our brand, the more customers we will have who will come back to us. And this will generate more revenue. Also check what the audience acquisition structure looks like. Go to the Acquisition/Overview Email List tab. Every industry is different - the traffic acquisition structure for each business will be different, but there are some general conclusions that will apply everywhere. If your main source of traffic is paid channels, your business is probably not as profitable as it could be and the strength of your brand is not great. Below I present to you two traffic acquisition structures for our clients that can be called "healthy". These are two extremely different industries, but their main channels are (apart from, of course, positioning issues or activities related to content creation).
In the first case, 37% of the traffic comes from Social Media, and in the second case, 47.8% is organic search (entering search phrases into the Google search engine). Important feedback is the Direct channel, i.e. direct entry of the website address. The more such entries, the more users go directly to the website, which means that they know us and remember us. Do not get me wrong. Paid advertising is very important. We want to reach new users, but we also want to ultimately convert them into returning users. If paid channels constitute the most traffic in your traffic structure, you need to focus on activities that increase the strength of your brand. What is brand power? I call brand strength the degree of recipients' attachment to the brand. If I think of a particular company, do I even recognize it? Do I feel positive emotions when I think about her? Finally: at the same price, will I be more likely to choose product X or Y? Why build brand strength? If you don't have brand power and you want to make any sales, you have to have prices that are lower than your competitors.
This means that we will sell more at a lower cost. The stronger our brand, the more customers we will have who will come back to us. And this will generate more revenue. Also check what the audience acquisition structure looks like. Go to the Acquisition/Overview Email List tab. Every industry is different - the traffic acquisition structure for each business will be different, but there are some general conclusions that will apply everywhere. If your main source of traffic is paid channels, your business is probably not as profitable as it could be and the strength of your brand is not great. Below I present to you two traffic acquisition structures for our clients that can be called "healthy". These are two extremely different industries, but their main channels are (apart from, of course, positioning issues or activities related to content creation).
In the first case, 37% of the traffic comes from Social Media, and in the second case, 47.8% is organic search (entering search phrases into the Google search engine). Important feedback is the Direct channel, i.e. direct entry of the website address. The more such entries, the more users go directly to the website, which means that they know us and remember us. Do not get me wrong. Paid advertising is very important. We want to reach new users, but we also want to ultimately convert them into returning users. If paid channels constitute the most traffic in your traffic structure, you need to focus on activities that increase the strength of your brand. What is brand power? I call brand strength the degree of recipients' attachment to the brand. If I think of a particular company, do I even recognize it? Do I feel positive emotions when I think about her? Finally: at the same price, will I be more likely to choose product X or Y? Why build brand strength? If you don't have brand power and you want to make any sales, you have to have prices that are lower than your competitors.