Building your brand is important in business, especially when you are selling a commodity. Branding means creating a lasting impression in your customers’ minds, which ultimately means that customers will decide to choose your business over your competition. But exactly how does one go about building a brand?
- Know Your Brand
You must know why customers should come to you – what will make them keep coming back, and what impression do you want them to have of your business. What makes your business stand out from your competition? This should be front and center with each point of contact, whether it be in store, in marketing materials or online. Private labeling can dramatically help you with differentiation.
- Show Brand Strength
Private labeling has grown in popularity and today is growing faster than national brands. According to a recent study by Market Force Information, it is estimated that 98% of consumers purchase at least one type of private label, which typically brings a higher profit margin to retailers and is generally either a higher quality, lower priced product than the competition, or both. Beyond the financial gains from a private label, co-packing adds validity to a company with its own brand, and showcases their expertise in the market.
- Differentiate Your Company
Private labeling gives you complete control over the products you sell, and helps to differentiate your business from any other large retailer. According to the Harvard Business Review, private labeling has also been shown to increase customer retention and loyalty, because even the exact same product in a privately labeled bag can change consumers’ perception of the product. Private labeling ensures your customers become ”hooked on” a product that only you can provide, which prevents the competition from taking your customer’s business with a simple sale or promotion.
- Build A Relationship
By providing a private label, you are building a relationship with each customer, and giving them a reason to choose you each and every time they want to buy the products you sell.
- Get Started
It’s easy to begin with private labeling, the first step is to get started. The Harvard Business Review recommends that retailers looking for premium private labeling seek manufacturers with a proven expertise in product development and a sophisticated production process. Blank Industries™ is no stranger to either of these categories. Since 2012, Blank Industries™ has improved on landscaping and ice melt products by developing it’s own brand Cutting Edge®, and building a fully automated, state-of-the-art packaging line to become the manufacturer that it is today. Blank Industries™ accepts low-quantity orders so that you can start small and build as your business grows. They are currently processing orders for private labeled ice melt.