Having a reliable brand is a crucial part of company assets. Although its value is not tangible, having good branding can play an important role to create the perception of consumers when it comes to products. It can also be seen as an important part of shopping experiences. Keeping a protected branding can be extremely important for companies’ long-term benefits. This is why companies should seek brand monitoring.
What is Brand Monitoring?
Brand monitoring can be seen as a controlled image of the products in any place that the product is available. It also means “representation of a brand”. It consists of the consumers’ perception of products and evaluation of the company and its partners in e-commerce such as retailers. If there is active price monitoring, brand owners can protect their image in the eyes of consumers.
To protect such image, there are general things that brand owners can take a look at. Especially with the growing brands, brand owners should be careful with every aspect of their products. Let’s see what they are.
Monitor Your Retailers
Monitoring the product page through image and information is a crucial part. When it comes to online shopping experiences, retailers’ pages can be extremely important for brand image. If the retailer is providing a good image and good content regarding the product, the possibility of selling such a product may increase. In shopping experiences, potential customers seek good quality content and the image of the product. There are many incidents where shopping cart drops due to the lack of good picture or information related to the product. To evade such problems, brand owners should monitor what their retailers are providing to potential customers as the information of products.
If there are inconsistencies between retailer pages on different websites, the biggest hit will be taken at the branding image. It conveys the message of “this brand is inconsistent and unreliable” to potential customers. Preventing such messages is possible with branding monitoring by the brand owners.
Also, setting up alerts on the web can be crucial for engagements. If someone is mentioning about your brand online, you can check it with Google Alerts. When someone writes down your product, you can see it immediately. It helps brand owners to see what consumers are thinking about the brand and it can help the branding image. To keep up with monitoring such image, brand owners can utilize alerts for their names.
Seeing who is talking about your brand may not be enough to seek engagements. Checking ratings and reviews can be also important for branding image as well. Looking at ratings over time can help to navigate brand image in the eyes of consumers. Checking social media outlets for mentions can also be helpful for branding.
Monitor Your Competitors On A Daily Basis
Another important aspect to keep an eye on is providing enough products. If you are out of stock for a long period of time, it can affect the visibility of your brand or product on the first pages of retailers. Keeping visibility on the important pages can be extremely important. Having a place in buy box sections of Amazon can make or break any brand. When such visibility is already one the thread, brand owners should provide enough products to their retailers to keep an image.
When it comes to monitoring brand image, competition monitoring should be counted as an important aspect. Especially if there is a saturated market and heavy competition, brand owners should monitor their competitors on a daily basis.
Monitor The Pricing
One of the most important aspects to monitor is the pricing. Pricing policies and MAP policies are crucial to protect and it can be protected by self-monitoring. Brand owners should monitor their MAP policies between themselves and retailers to stay away from price erosions. If a brand owner keeps a strong hold on MAP policies over self-monitoring, branding or brand image cannot be affected negatively. Enforcing policies can only happen if there is a strong monitoring system for the brand.
There are many other aspects to monitor when it comes to e-commerce competition. Having a visible image in front of the customers can be achieved with a strong brand image. Knowing industry changes and news, providing a strong conversation for feedback, setting up monitoring systems for e-catalog, understanding what is selling more… Having a strong existence by creating a good monitoring system for your brand can make success an achievable goal.
If you also want to monitor your retailers or sellers on e-commerce, join PriceRest today. And see What PriceRest can do for you.
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