The retail eCommerce industry has been very active in the past few years. Amazon, in particular, is brimming with various products and brands. Thus, making it a stimulating platform for Amazon sellers, especially the new ones.
In view of the current Amazon marketplace situation, Amazon sellers are aggressively improving their strategies to outperform other sellers. In fact, some sellers are even thinking of Amazon rebranding with the goal of excelling in the competitive Amazon marketplace.
Amazon rebranding offers significant advantages among Amazon sellers. However, not all sellers are advised to pursue such a marketing strategy. For that matter, we have outlined crucial information about rebranding and selling on Amazon.
Things to Know About Amazon Rebranding
What Does Rebranding Mean?
Rebranding is not something every business owner should implement. As an Amazon seller, it would be wise to understand first what rebranding is.
In brief, rebranding is a business strategy that aims to create a new look or feel for any established product, brand, or company. As a consequence of a rebrand, customers’ perception of a certain product or service is revitalized. Hence, making a rebranded product more relevant and modern-looking in the eyes of the consumer.
There are two types of rebranding, proactive and reactive rebranding. The former is a way for a business to grow as it identifies opportunities to tap into a new market. The latter, on the other hand, implies a response to a changing situation that forces a business to rebrand in order to survive.
A concrete example of a rebranding was the steps taken by CVS Pharmacy in the United States. As an American retail corporation, CVS decided to rebrand their business by stopping the sale of tobacco products in their pharmacies.
CVS was the first chain of pharmacies to stop selling cigarettes as it deemed that such a product is in contrast with their overall position, which is focused on health and wellness. The rebranding was made despite tobacco products accounting for around 4% of sales.
Why Sellers Should Do Amazon Rebranding
It cannot be denied that the COVID-19 pandemic has disrupted the eCommerce ecosystem. Some online sellers, including Amazon sellers, have found themselves in a position where rebranding has become necessary for survival.
To give you a better understanding of why rebranding may be the right solution for your Amazon business, here are some of the top reasons for rebranding.
- For sellers with outdated branding, Amazon rebranding is one of the best solutions to give your business a new life.
- Amazon sellers may use rebranding to differentiate their business from the competition.
- For Amazon stores riddled with negative reviews and a poor online reputation, an Amazon rebranding will definitely help improve online reputation.
- As your Amazon business evolves and expands, rebranding would be the best marketing strategy to cater to its growth.
- Amazon sellers who have merged with another company could also benefit from Amazon rebranding.
- Amazon FBA rebranding also works for FBA sellers who want to connect with a different audience.
- Another reason for rebranding products on Amazon is when a business has branched out to another location, such as Amazon global marketplaces.
Overall, Amazon Rebranding should be implemented, either proactively or reactively, to enhance brand awareness while stimulating growth and profit in the process. This stratagem will showcase that your business is innovative, modern, and relevant. Therefore, setting you apart as a leader in the eCommerce industry.
How to Effectively Rebrand Your Amazon Business
Rebranding your Amazon product or store does not only constitute the replacement of your logo or design. There are many things to consider when it comes to rebranding your eCommerce business.
To avoid potential blunders with your Amazon rebranding, here are some effective rebranding tips you can follow.
Reevaluate Your Amazon Business
In order to have a good starting point for your rebranding, you should research and reanalyze the current state of your Amazon business.
The research process would include checking on your competition and identifying the true value proposition that sets you apart from them. Along with research, reanalyzing old data to assess business campaigns and success rates is advisable. The previous campaign data will help you determine which approach worked and is worth repeating to achieve the same results.
Furthermore, reevaluation is not only limited to data and competitor analysis. When reevaluating for rebranding purposes, your business’ mission, vision, and goal should also be reevaluated to help you check whether your brand still reflects what your company stands for.
Once you have done the reevaluation, brainstorming, meetings, and confirmation of strategies, then sellers should execute their action plan. Implementing rebranding strategies may include change of product logo, revamp of contents, revision of marketing approach, or even introduction of newest products to the market.
To have a successful rebranding, sellers should never forget to relaunch their brand to inform consumers of the rebranding. The relaunching should also entail an explanation of the reason for Amazon rebranding which customers will surely be asking.
To avoid confusion, explanations for rebranding should be brief and concise.
Introduce New Technology
When it comes to rebranding your Amazon business, you should introduce new technology to help you streamline the overall business operation. Amazon seller tools and other relevant softwares will boost your efficiency and effectiveness as a business.
Amazon repricers, for example, will help you increase your Amazon Buy Box winning rate and exposure on the Amazon search result pages. Alternatively, with the help of product listing optimization tools, your brand visibility will also improve.
Take Into Consideration
Before delving deeper into the rebranding process, excitement and high hopes should not eclipse the critical requirements for a business rebrand.
You need to understand that rebranding goes beyond research, meetings, and implementation. Keep in mind that rebranding will take time, cost you money, and take effort to perform.
Finally, a rebrand of your Amazon business will alter how your brand is perceived, it will be challenging to make a comeback if an issue surfaces from such a rebranding process. So better be prepared.