Lyko is best at inspiring their customers
Lyko is, in the eyes of their customers, and according to our study, The key to profitable e-commerce: a study in paying more online, the most inspiring Swedish e-commerce brand. We had the opportunity to talk to Kalle Eliason, CMO at Lyko, to better understand how they think of inspiration in building solid and profitable digital brands.
What does this recognition mean to you? Of course, we are tremendously happy and proud to be recognized as the most inspiring brand on the market, but I would not say that we are completely satisfied just yet. We have successfully worked on strengthening our brand and customer relationships for quite some time, and we plan to keep improving going forward. The recognition verifies that we have managed to lay hold of the brand position that we have aimed for. Being engaging and a source of inspiration is essential in our specific brand category. What’s your approach, how do you invoke inspiration? Firstly, we make sure to talk about beauty and our products in a light-hearted, fun, and inspiring manner. We believe that beauty should be engaging and playful rather than being about appearing perfect all the time. This approach, which is fundamental to our brand position, lowers the threshold for the consumer and makes customer interactions more enjoyable for everyone. Secondly, we put in a lot of effort to create entertaining content around our products and services, instead of just highlighting discounts. We want the customer to visit us and Lyko Social in between purchases to interact with like-minded individuals and find inspiration. Our goal is to become the one-stop-shop for everything related to beauty, no matter what you are looking for. You see, it’s not about the purchases per se - but rather the creativity and inventiveness.
— It's all about emotional values, which is hard to build if you only invest in Google search results
– Kalle Eliasson, CMO Lyko
What do you think of the report's conclusions - do they come as a surprise? Not really. A majority of brands are quite short-sighted when it comes to establishing profitability, mainly focusing on price and product, as well as driving and converting traffic on Google. It might be effective temporarily, but to find success and attract loyal and profitable customers in the long run, they have to shift their focus towards emotional values and establish a real connection with their fanbase. What is the biggest challenge in building a solid digital brand? Perseverance is going to be the determining factor. Digital brands that want to succeed will need to be able to hold on and play the long game. Driving short-term sales is easy, but making long-term investments demands a lot more. It requires mastering multiple aspects of marketing, such as advertising, arranging events, sponsorship deals, and content production – which itself is a huge commitment. What tips do you have for other retailers? Building a long-lasting and profitable brand requires taking the long view. Brands should not compromise on quality or price, as it is way too short-sighted. The real challenge is to find the courage to try something different and then dare to charge the customers for it. The customer experience should always be prioritized. Failing here is really not an option. As shown in the report, emotional experiences are everything. It is challenging enough to provide those through google search ads alone, so make sure to give more engaging media channels and formats a try.
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