How Do You Launch a DTC Brand Today? 4 Out-of-the-Box Tips
The world of direct-to-consumer (DTC) brands is booming, particularly with the ongoing pandemic when traditional brick-and-mortar stores are no longer an option for many consumers. But launching a successful DTC brand isn’t a straightforward proposition. Here are four out-of-the-box tips from industry leaders on how to launch a DTC brand today.
1. Introduce a Clear and Innovative Value Proposition
A unique value proposition is essential when launching a DTC brand. That means finding the right mix of product quality, convenience, and competitive price points—all elements that are part of the package when you purchase directly from the brand. As ecommerce entrepreneur and investor Marc Lore points out, it’s “important to make sure the value proposition is not just ‘me too’ with e-commerce, but something truly differentiated and compelling.”
2. Leverage Word-of-Mouth Marketing
As with any marketing effort, word-of-mouth is an invaluable way to spread the word about your DTC brand. Tap into your existing network to build buzz, and find creative ways to foster more conversation. You might consider, for example, using influencers to spread the word, or offering exclusive discounts or rewards to your most loyal customers.
3. Utilize Advanced Tools and Technology
Advanced technology is a key differentiator for many leading DTC brands. Effective product discovery and personalization can be made possible with predictive analytics, artificial intelligence (AI), and machine learning (ML). Ekaterina Walter, CMO at Branderati, suggests using these tools to “create personalized content that is based on previous engagement and real-time customer feedback, allowing brands to tailor experiences to each customer’s needs.”
4. Partner with Other Related Brands
“No man is an island,” as the saying goes. Partnering with other related brands can increase visibility, generate referrals, and create a larger network of potential customers. Opting to partner with so-called “non-competing” brands can also open up new revenue channels, allowing you to capitalize on opportunities that would otherwise remain untapped.
Launching a successful DTC brand today isn’t easy, but it is possible. To get off to the right start, introduce a clear and innovative value proposition, leverage word-of-mouth marketing, use advanced tools and technology, and tap into existing partnerships. Doing so can help your brand achieve true success in the crowded world of DTC.