Matt Kostan from Microbranders.com shares his 5 tips to creating your own micro brand on Amazon. Matt has sold over seven figures on e-commerce sites and is sharing his tips so you can build a profitable business online, too.
Here are the 5 tips to creating your own micro brand on Amazon:
Tip #1: Establish a simple brand name.
Your name should be super simple and super relevant to the product you’re selling. For example, Matt created a brand called, On Tock, a brand of watches whose name is a play on tick-tock and on time. It’s simple, clean and highlights the product from the start.
You can use BustaName.com where you can find if the domain you’re hoping to use is available. If the URL (the website with a .com after it) is available, you will most likely be able to trademark that name, which will help your business down the line.
Tip #2: Be consistent.
When it comes to being consistent, this means your colors, typography, anything your customer touches that represents your brand. A great example of consistent branding is Tiffany & Co®. You can instantly recognize that blue color and know that it’s the famous jewelry brand. The product line you create should also be consistent. The products you select should all go together in a series, so customers will want to buy the entire set. When you have a common thread of products, people are more likely to buy. People love buying and collecting products that work together.
Tip #3: Have a brand purpose.
To find your brand purpose, ask yourself, “What do I believe? What do I want customers to believe/get from my products?” It is super helpful to physically write down what you value and stand for so you can see common themes. For example, Matt has a travel product line, so he values offering first class customer service. The brand purpose of “first class” customer service goes with the travel theme and highlights the number one value of his brand.
Tip #4: Write your “Golden Guarantee.”
This is the biggest tip to take away when it comes to creating micro brands on Amazon. The “Golden Guarantee” is a brand guarantee that you are providing your customers that is so outrageous and so awesome that it almost makes you nervous. A lot of companies will offer one-year, five-year or ten-year guarantee. While that’s great, it would be even better if you can offer a lifetime guarantee. The amount of sales that you will make will far exceed any customer who will take advantage and make a return.
As an additional tip, you want to write your guarantee so it’s related to your product. If you’re doing something with travel, your “Golden Guarantee” could be something like, “If the airline loses your luggage, we will replace it for life.” Make your guarantee unique to your product.
Tip #5: Figure out your product differentiator.
Private labeling, taking a current product and slapping your logo on it, is dead. You can’t do that anymore and be successful. It’s time to get more creative. You need to find what you can do to make your product unique and different. You can differentiate by offering different packaging, other material options, different colors, and solving problems customers are finding with competitor products.
To research the complaints of products, read the one & two star reviews of your competitors’ products. See exactly what customers are asking to be fixed and fix it.
These are Matt’s 5 tips to building a micro brand on Amazon. If you’d like even more tips to build your Amazon business, visit AmazingSellingMachine.com for FREE training.
Matt Clark is the Chairman and Co-Founder of Amazing.com, a serial entrepreneur, and investor. He’s been featured on Forbes, CNBC, and Entrepreneur.com.