Micro brands are just what they sound like as opposed to big brands. Small businesses are developing a following among niche buyers. The term “micro brand” has been used to describe these brands that are not internationally known but are growing in popularity regardless. The growing phenomenon of microbrands reinforces the concept that the digital economy brings more and more opportunities for small businesses than ever.
This explosion of micro brands is no doubt due in large part to the ease of marketing that is available today. Today we see brands like Purple mattresses, Felix Gray eyeglasses, Quip toothbrushes, Swell bottles, Pompeii Shoes, and Ugly Drinks to name just a few examples. These are brands no one had heard of until very recently and now they can compete effectively with bigger more well-established brands.
These small companies will continue to lure buyers with their individuality and magnetism which is something that seems lacking with the big brands. Traditional retailers are shrinking and it’s not always because of Amazon. These retailers are losing business to thousands of microbrands that are winning the ‘battle for the buyer’ through a better consumer experience, engagement and the creation of trust.
This micro brand phenomenon is something that has developed from the grassroots as opposed to large investment in large companies seeking to spawn the next great brand that everybody wants. These brands are produced by passionate entrepreneurs with valuable knowledge, skills and insight. Using social media for advertising and sales channels such as Amazon, Instagram, and Facebook.
These new ways of marketing and sales are making it possible for entrepreneurs with good ideas to compete with the big boys without the need for huge investment and risk, something that was not possible only a few years ago.
This is by no means the death of the big brands but an awakening to a new form of competition that they must learn to deal with if they are to survive in this new digital world.