Do you wish to build your brand and make it last in the digital space? If so read ahead (2 mins read)
There are two parts to making a brand that lasts – building it and protecting it. Brands have seen themselves fall off the brand value list at a much quicker rate in the last 20 years than in the last half of a century due to the fact that the internet era makes brands less durable.
This boils down to the fact that consumer habits have been digitized due to which the rate of change in consumer desires has increased. So while monumental efforts are made to build the brand, the latter – protecting is often blindsided. Now I know for certain that agility and adaptability are the cornerstones of any business, but does it apply to Brands?
We have by now established the fact that brands cannot afford to be slow to change. There is another critical change in the way brands work in the digital age, and that is the direction of communication. Till the start of the last decade, we would see brands engaging in one-to-many communication, which was based on the brand persona – which worked well in the world of broadcast media but shows its age in the current world, where we are transitioning from Web2.0 to Web3.0. Brands today need to not only create a persona for themselves but also create an inviting ecosystem around themselves, which will enable consumers to create bi-directional connections between themselves and the brand. This in turn creates experiences that the consumers want to share, in turn bringing in more consumers, which then increases the value of services and technologies due to something called the brand network effect.
Now I’m a big fan of the fashion industry, and I’ve been following SHEIN since the time I was in university studying marketing. Did you know, that SHEIN was started in 2008 – it went through a metamorphosis of sorts by catching on the influencer bandwagon as soon as it was a thing. So how does SHEIN ace the MACE framework?
Shein has over the years MASTERED their supply chain to enable itself to become the dominant player in the fast fashion industry. The range of Styles is not limited to any single category – but has a cross-category. It absolutely smashes the competition when it comes to the regional customisation of styles thanks to it being a digital native.
The dominance is cemented by not only being able to provide the latest trend but also in ensuring that its products are ACCESSIBLE. The Average price of products on the platform is low, which allows a large user base to form (which also feeds it with important information about styles that are working & styles that are now). Additionally, Shein is able to service customers who are across the globe by offering international shipping.
Shein is the master of CADENCE amongst other online retailers. Again thanks to its digital native business model, it is able to bring back potential customers to the app multiple times as users receive updates on the newest products added by brands each day. Besides as it is able to keep a check on the pulse of the user via analytics based on app usage, the products displayed to the user as customised and the product catalogue which is made available to the user is always the latest trend in the market.
Shien is able to ENSNARE its customers as it never leaves them disappointed, it offers hassle-free returns and on-date fund reversal even if there is an unhappy customer. Besides, the fact that it perhaps runs the largest fashion online shop also plays a major part in ensuring that the user does not have to look elsewhere to be a part of that next fashion trend.
We at Hyphens help you not only carefully build your brand, but also help protect its value in its digital lifecycle. Drop us a message if you’re interested.
