Conquer the online retail market with these seven basic principles

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There are over 90m live mobile contracts in the UK, resulting in increased competition due to easy access to Far Eastern manufacturing and low entry access to selling on sites such as Amazon and eBay.

Whats more, the maturity of the UK market makes it comparatively tougher than other emerging markets for young brands to get their product noticed.

From our experience, brands can experience growth of up to 300 per cent year-on-year with a strictly online strategy, often utilising the support of smaller chain and independent bricks and mortar outlets and ultimately pulling away from high street only retail.

In this era of multi-channel it is more important than ever to adopt the correct channel strategy. Here, I outline some basic principles for starter brands to follow in order to be successful online.

(1) Whats your channel strategy

Consider which strategy youll be focusing on early. Are you building your brand solely online Do you have an intention of expanding internationally Does your product need an element of human contact on the high street, seeing it best suited to a multi-channel strategy

This is the first thing you should consider before even trying to sell. Without a clear direction any starter brand will become lost and a clear direction needs to be mapped out.

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(2) A gap in the market

Consider whether the consumer actually needs your product. Whether its purpose is fun, fashion or function, to be an attractive proposition your brands product needs to be too good for the consumer to turn down it should sell itself. Unfortunately, not every business person is in the same position as Steve Jobs in that they can simply tell us what we need!

(3) USP

Is the product unique enough Whether through price point, special features or stand-out branding, does the brand stand up against similar products in the market There is a fine balance here too basic and you’re behind before youve even started, too innovative and the consumer won’t understand what they are being offered a major turn off.

Continue on the next page for the remaining four steps you should take on the journey to conquer ecommerce.

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