{"id":4249715,"date":"2021-04-22T12:00:00","date_gmt":"2021-04-22T12:00:00","guid":{"rendered":"https:\/\/www.deptagency.com\/insight\/creating-brand-preference-in-a-crowded-e-commerce-market\/"},"modified":"2021-04-22T12:00:00","modified_gmt":"2021-04-22T12:00:00","slug":"creating-brand-preference-in-a-crowded-e-commerce-market","status":"publish","type":"article","link":"https:\/\/www.deptagency.com\/en-nl\/insight\/creating-brand-preference-in-a-crowded-e-commerce-market\/","title":{"rendered":"Creating brand preference in a crowded e-commerce market"},"content":{"rendered":"
\n\t\n\t<\/svg>\n\t\t\t\n\t\t\tBack to all articles\t\t<\/span>\n\t\n<\/a>\n\t\tCreating brand preference in a crowded e-commerce market\t<\/h1>\n\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t<\/picture>\n\t\n\t<\/div>
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\n\t\tAlexandra Moorhouse\t\t
\n\t\tMarketing Director, UK&I\n\t\t\t<\/div>\n<\/div>\n\t
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\n\t\t\t\t\t22 April 2021\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t<\/div>\n<\/div>\n\n
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\n\t\t\tThe e-commerce industry has largely been in survival mode for the last year. Despite the exponential growth stats that continue to be shared, the reality for many has been a rushed process to either get online or optimise digital services in order to compete for the attention of consumers. In such a saturated and increasingly altruistic market, creating brand preference is an opportune approach to ensuring business longevity as we edge closer to the, hopeful, end of the pandemic.\t<\/h2><\/div><\/div>\n\n

The internet has made it easy for customers to browse millions of products, but it\u2019s not as easy to find the\u00a0right<\/em>\u00a0product. Previously, the seller offering the highest quality product for the most affordable cost would most likely have secured the purchase, but with products and prices duplicated from site to site, the\u00a0winning companies are now those that excel in service<\/a>. But longer term, brand preference is what will keep those customers coming back, and spending more.\u00a0<\/p><\/div><\/div>\n\n

\n\t\t\tThe value of brand\t<\/h2><\/div><\/div>\n\n

Brand is one of the most valuable assets an e-commerce company has, but unlike other more tangible assets, it is often lesser recognised as it\u2019s hard to quantify its true value. Despite the lack of availability of everyday tools and metrics to help marketing teams demonstrate their full brand impact and influence, academic research has proven how superior brand preference positively impacts the bottom line.\u00a0

A study by the\u00a0Marketing Accountability Standards Board<\/a>\u00a0showed a direct correlation between brand preference and market share across 120 brands in 12 categories, and a study by the Marketing Science Institute found that superior brand preference commanded an average of\u00a026% higher price premiums<\/a>, even when brand equity is the same.\u00a0

This logic is obvious when you think of the super-brands that are often put on a pedestal when branding is discussed, like Apple, Nike and Tesla. What these brands have in common is that they\u2019re all experts and communicating their why:\u00a0<\/p><\/div><\/div>\n\n