The fashion industry is one that is evolving at a very fast rate with trends coming up now and then and a huge client base waiting for the latest designs to be released to the market for showcase and sale. One aspect of fashion that has not been well tapped into is the bag business, and it would be a great move if you decide to start your bag business. If you are already ahead of this article and you already have the idea in mind, then you should know that it takes a lot of proper prior planning to make your brand a success.
There will be noise, coming from all fronts telling you that it is next to impossible but with the right mindset, budgeting, branding, and strategy, nothing should stop you from becoming a kingpin in the bag business. Ever heard of the adage, ‘’ the journey of a thousand miles starts with a single step’’. Then this is the time to put it to practice without skipping any step. Let’s get right into it.
Table of Contents
- Brand value proposition
- How to choose the brand name
- Create a brand identity
- Create a brand website
- Invest in social media
- Product marketing
- Package your bag like a pro
Brand value proposition
Even before you engage bag manufacturers in talks to get into business with them soon, you need to do value proposition for your brand that you have in mind. You value the work of your hands but what will make customers locally and globally to value your bag and buy? This is a question that needs to answer yourself and the market that silently asks this all the time. Convince your prospective customers why they need to buy your bags and leave out those of your competitors. This becomes even hard if the price you will be selling your bags is higher than that of your competition as people, probably even you, always go for the cheaper option.
At this point, you might be thinking that this is a move to take on at a later stage. Trust me when I say that there is no better time of doing brand value proposition in the very beginning. Your target customers should be your best asset for doing value proposition. What are there needs in bags when it comes to quality, design, pricing, and portability? Answering these questions is a heads up to appealing to the market, and your target client will make the launch process and the success of your bag brand a whole lot easier.
Pick a brand name
A name is an identity and clients identify their bags of preference by name. Names have a certain power of determining how a brand will turn out to become. The stereotype that the name you give to your children affects how they turn out to be is to some extent true when it comes to businesses and brands.
Here, you will have to put your personal preferences aside and look into what will stand out and attract customers to your brand by the name you pick. Ask yourself these questions before you go out picking out a name for your bag business;
· What are the core values of your brand?
· What is your target clientele and what kind of name will be suitable enough?
· Does the name you pick resemble what you have to offer to clients through your bags?
Having these in mind will guide you in picking a brief and attractive name that every customer out there would want to be associated with. Once you decide on the name, check out local and international chamber of commerce to ensure that you do not infringe on any trademark or copyright. As vital as the name might seem, it might cost you launching your bag business or even a lump sum amount as fine for infringement. Either way, why would you want to share a brand name with another company, especially one that is also in the manufacture of bags. Ensuring that you pick a unique name that is not like that of any other company is the first step to complying with laws and regulations set and also a bold branding statement.
Create a brand identity
Aesthetics is key when it comes to having a brand identity but there is more to it than it seems. You must pick a logo for your brand that matches its message, purpose and core values. Believe me when I say that your target customers will first see the logo before they even look at the bag itself and what it has to offer. This point comes right after picking your brand name as you might want to make the name part of the logo.
The power that the brand identity hold is beyond imagination and how you design it will have an impact on how your brand is perceived by customers and ultimately affect sales of the bags. You might consider finding a good designer to come up with a powerful, colourful and attractive logo for your brand and let them work hand in hand with the bag manufacturer to establish which is the best place to fix it on the bags.
Create a brand website and find the perfect shopping website to sell
Thanks to technological advancements being made and the increased use of the internet, you can now create a professional and functioning website to be the face of your brand. People are no longer relying on audiovisual ads on television and radio to learn about brands as the internet has taken over. This is the main reason why you need to invest more than enough into the creating of a website that is not only incredibly designed but also offers amazing user experience for all.
Either way, everybody has turned to online marketing and selling which is why you need to stand out from your competitors to attract huge client traffic and maintain them. The standards that have been set are top tier meaning a bad design is an easy turn off for the majority of customers. Aim to create a website that meets the following;
· Matches your brand – If you want something elegant and attractive, you need to avoid these free websites with terrible Webhosting services but rather, be ready to dig deeper into your pockets to get a website that is customized to meet your needs and that of your clients.
· High-quality photos that are royalty-free – Be genuine with your brand and post photos of the bags that you get straight from the bag factory. This is a way to maintain integrity by delivering to clients exactly what they order online. Refrain from using photos copy-pasted directly from google or any other search engine and this is also a form of infringement and could attract lawsuits.
· Content Management System – This is a system that allows you to have total control of your website meaning you can post and edit photos of bags including the prices.
Invest in social media
When I say invest, I do not necessarily mean spending money but other resources such as time to ensure that your brand reaches as many people as possible. Social media is a whole world on its own and you wouldn’t want to miss out on the marketing and selling benefits that are there to be reaped with the use of social media. Social media is your friend when it comes to generating a huge customer traffic to your website and online store since it is the new drug in town that everybody is getting hooked to.
Depending on your target audience, there is a need to establish which social media platform will work in your interest and this is where the strategy comes in. Pinterest, Facebook, and Instagram are the leading social media platforms that you need to consider using to make your brand a huge success. Since bags are part of the fashion industry, consider doing more of Pinterest. Spare and spend good time setting up channels for your brand and also editing your posts with captions that are captivating and eye-catching. Do not forget to also factor such as your area of operation.
Not all these social media platforms are popular or common everywhere. Depending on where you are based, do research and establish the pages that would work best for you according to your target market. Let’s assume that Facebook is most popular in your country or state, it is only wise if you put more effort into your brand activities on Facebook but do not forget about the rest as well.
Check on pricing
This is the biggest challenge you might face out of all these steps. There are very many factors that affect the price at which you decide to sell your bags. First of all, the quality of the bags goes hand in hand with the selling price. High-quality bags will have a high selling price compared to poor quality bags. Either way, do not look to overprice your bags despite the high quality they are made of by the bag factory. At the same time, do not discount the prices to a point where you are operating on loses. Seek to first establish the actual value of each of the bag designs you come up with and from here you can easily price your brand.
Even before you go deeper into valuing the end product that hits the market, it is important to look into the manufacturing price that you pay the manufacturer and shipment fee. Assuming you contract a china bag factory to do the manufacture of your bags, there is the basic amount you will have to pay them for their services with their profit added on top. From this amount and the shipping fee from the china bag factory to your warehouse, you now have the freedom to set your selling price at whatever amount you wish either as retail or wholesale bags as long as there is profit no matter how minimal.
Remember, the point on the brand value proposition? Well, this is where it counts most and do not forget to say thank you to me for making you take it as the first step to your brand success. If you are convincing enough to get good traffic looking into your bags, then you have the benefit of making a killing in terms of profits based on the price that you set for the bags. Also, give customers the option of buying as retail or wholesale bags.
As a start-up business with very little capital to operate on, there is no room to run trial and error marketing strategies. This point overlaps with the website and social media set up steps. Your best shot is to do online marketing for a start and from there, once the bag business picks up, you can go into bigger marketing projects such as television ads and billboards. Content marketing is very effective these days and will cost you less to get as much traffic as possible. The main tool needed here is creativity and consistency. Present your bags to clients on social media and on the website as a solution to some of the problems they have been facing with bags and see your sales skyrocketing in no time.
Either way, what you advertise need to go hand in hand with what you sell clients. If you advertise leather goods, then you better be selling leather goods as the reviews clients post online has a huge impact on the number of sales you make despite the high or low customer traffic.
Package your bag like a pro
Finally, when it comes to launching your bags to the actual market, you need to do it lie a pro. This is the last step but could leave a dent in your bag business. If you need to bring in celebrities and models to be the face of your bag, then do it and go big. Clients unconsciously want to see how much value you give to your brand and how you package it as a whole when presenting it to them. So, do not hesitate and go for the big guns to make a good killing.