A brand may be successful, but if it doesn't change and grow, it can easily stagnate. How far can you stretch the boundaries of your brand into new products and markets without overstepping?
It's a "delicate balancing act," says Mitch Duckler, brand expert and founder of FullSurge. If you play it too safe, you'll fail in the marketplace and ultimately disappoint people. But if you go too far, customers can be alienated.
"Ideas farther from the center can still work for the brand. When implementing those ideas, brands will just need to connect the dots for customers. In other words, help them understand how this new offer represents a good fit for the brand even though consumers may not necessarily see that connection," he says on the latest episode of Marketing Smarts.
The idea of brand-inspired growth is to go as far as possible without contradicting your brand values. And the more successful an extension is in the marketplace, the more open customers will be to future extensions and stretches.
Mitch and host George B. Thomas also dive into four simple one-word questions for differentiation, a new way to look at market research, and why Mr. Clean is a prime example of a brand stretch success story.
How much can your brand stretch?
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Episode Details, Guest Information, and Referenced Links
Episode No. 14
- Live date: October 21, 2022
- Episode link: youtube.com/watch?v=t97aBnHMHaw
- Original podcast episode: Developing an Indispensable B2B Brand-Inspired Growth Strategy: Mitch Duckler on Marketing Smarts [Podcast]
Guest's social media profiles:
- Twitter: @mitchduckler
- LinkedIn: Mitch Duckler
MarketingProfs resources referenced in the show:
- How to Find Business Growth Opportunities Within Your Competitive Landscape
- Three Counterintuitive Ideas for Making Your Growth Strategies Work
"In B2B News" article referenced in the show:
