Brand Management for eCommerce Traders
The notion that the focus should be on developing the lifetime value of customer relationships is what many eCommerce traders today believe in. Ways of adding to overall customer equity include building loyalty and retention, cross-selling related goods and services, and broadening offerings to fulfill more customers’ needs. Indeed, given that the cost of keeping current customers is much lower than that of winning new ones, and ultimately, the large number of buyers out there, a mature business would be hard-pressed to increase profits otherwise. A brand’s ability to fulfill its uniquely positioned promise better than any other competitor is where its power resides. Therefore, fulfilling the brand’s promise within digital channels is what digital brand management execution is all about. A brand fulfilling its promise both offline and online is essential to building brand trust and loyalty; a consequence of perceived value and real satisfaction. Besides, the correct description is vita