Businesses look into brand extensions for any number of reasons. Sometimes they feel like they need to reach a larger audience. Sometimes if just feels that there is a natural extension of goods and services that are created naturally.
Whatever the reason for a brand extension, it can be a great way for a business to meet new needs and grow. If you think you might be ready to take your first venture into an extension for your brand, but aren’t quite sure if your extension idea is worth pursuing, ask yourself the following questions.
- Will the extension make it easier for customers to enjoy your brand? Will they be able to experience it in different places or through different media?
- Is the extension essentially offering a specific area of your expertise in a wider and more prominent way? This can be great, as it shows your audience the breadth of your expertise.
- Does it allow your customers and target audience a new way to use or experience your brand? This is similar to point one, but different in that it encompasses all aspects of audience interaction and not simply the view and/or purchase phase.
- Does the extension provide potential customers a free glimpse or a “taste test” of your product?
- Does it alter certain aspects of your brand just enough to draw interest from the public without causing you to later your overall brand’s message or identity?
Keep in mind that brand extension is not for everyone. Some brands simply aren’t ready for the work or, quite frankly, aren’t really capable of pulling off a brand extension. Some brand extensions can be minor (think Oreo cookies coloring their cream orange during Halloween) or quite large (think Virgin and their shift from music to…well, just about everything).
However, if you can tackle these questions with confidence and your idea for brand extension seems stronger with each question, maybe it’s time to get the ball rolling.