Branding with the Big 5


In our previous book, Launching Your Yahoo! Business (Que, 2006), we spoke about the Big 5 of e-commerce: price, selection, convenience, service, and security. These five elements can help you define your brand and separate it from your competition.

Briefly, you can brand on price, selection, or experience (convenience, service, and security).

Price is no longer king on the Internet. Yes, it's important, but with a consumer's ability to shop for the best price using search engines, comparison-shopping sites, and auctions, it has become very difficult to compete on price alone. So how do you avoid the lowest-price trap? By adding the other four of the Big 5 to your branding mix.

Free Info

Download the free informative article titled "Flexible Pricing: A Concept Whose Time Has Come at www.myecommercesuccess.com.


First, start with your target audience and focus on selection. You can't be all things to all people, so sharpen the focus of your product or service selection. More sales to more people outside your target market will not necessarily bring you profitable customers. Choose your selection and then add value to it. Are you selling a price-sensitive commodity such as books, CDs, or videos? Don't try to be the lowest. Find ways to add value to the product, such as free shipping or packaged deals or knowledgeable recommendationsanything that you can use to raise your price a bit and still make a good margin.

Value is in the eyes of the consumers. If they feel that they are getting a good deal because you went the extra mile for them or made their purchase more convenient, they will pay more. Amazon is a good example. Why not pay a little more than their competitors if you know you can purchase your product quickly and easily with a "one click" purchase?

Construct a brand that incorporates your version of the Big 5, and you will create a USP for your Yahoo! store.

In the next chapter, we cover some of the best marketing tools for acquiring visitors in your Yahoo! store.




Succeeding At Your Yahoo! Business
Succeeding At Your Yahoo! Business
ISBN: 0789735342
EAN: 2147483647
Year: N/A
Pages: 208

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