A Profitero study showed Target’s online prices were 25% more expensive than Wal-Mart’s, which were just slightly more expensive than prices on Amazon.
An IRWD speaker explains why successful branding incorporates attitude.
A brand is the sum of a customer’s experience with a company and its products–including the customer’s experience online. A well thought-out and well-executed branding approach is critical for online retailers, says Timothy Peterson, vice president, e-commerce at Bronson Pharmaceuticals Inc., who will speak in February at Internet Retailer’s Web Design & Usability Conference 2012 in Orlando, FL, about how retailers can get the most branding impact out of their content and creative materials.
Branding efforts benefit from a healthy dose of attitude, according to Peterson. “Being opinionated matters,” he says. “If your business doesn’t stand for anything in particular, you won’t attract anyone’s attention. You could stand for value, quality, uniqueness, or something else, but your brand has to stand for something.”
In his session, entitled “What all e-retailers need to know about branding," Peterson will share with e-retailers a checklist for branding success. Session attendees will learn what’s needed to execute successful branding online, who in the company needs to be involved and how much it might cost.
Peterson notes that effective branding initiatives directly support a retailer’s business objectives. “Customers find you. Marketing costs go down. And since good brands know what they aren’t, you can even reduce your item assortment and still make good money,” he says.
Internet Retailer’s editors asked Peterson to speak because he has experience in nearly every aspect of multichannel business-to-consumer marketing. He has held management positions at Macy's, Pottery Barn, and Guess Jeans; been e-commerce manager and director of business development for a web-only company; and director of client services and data integrity for a major database company. He also served as director of business intelligence and marketing for a major vitamin company.