Build a strong brand on marketplaces
and achieve profitable growth
Last year, bol, together with a group of approximately 30 experts and ShoppingTomorrow, investigated a question many brands ask themselves: “Which strategies and tactics can be applied to build a strong brand on marketplaces and achieve profitable growth?”. Because we want to help partners grow, the research results have been included in a bluepaper.
In this article...
Download the bluepaper(in Dutch) and read what this can mean for your brand.
How do you build a brand and increase profit on an online marketplace?
The expert group tackled this question, and several concrete tips emerged. We'll highlight a few that each participating brand can apply to their own operations in their own way.
- VONROC demonstrates that you can build a brand by deploying advertisements at the right time. This allows you to grow in a category where your competition consists of larger and more well-known brands. In the story of Pink Gellac, you learn that carefully considering the format of your advertisements ensures you stand out and thus build awareness in a new market.
- By mapping out all the costs of their items, Versuni gained insight into their profitability. Their unit economics model allows them to see this per item. Omoda improved both visibility and profitability, even in an industry with low margins. They achieved this by carefully examining which items performed best and advertising accordingly.
Some key points from the bluepaper:
- Working on your brand awareness is essential for the long term. Deploy various advertising tools at the right time and grow faster than your competitors.
- By steering with the right data and insights, you increase your profitability. Data-driven decisions are crucial for success. They lay the foundation for sound strategic choices.
- Seek a good balance between visibility and profitability. Targeted investment in brand experience leads to better commercial results.
- Stay informed about all opportunities to build your brand. Assess what data you need to improve your margin. See what best fits your brand strategy and start testing and learning with it.
Be inspired by the experiences of these brands and see which method best suits your business operations. How will you grow your brand and make more profit?