We are starting off our new blog series revealing the 22 Immutable Laws of Branding in order to establish a working concept for what branding really is. The world is changing, and the way business is being done is rapidly changing and becoming more digital. So without any further ado.
We are starting off our blog with a series of articles revealing the 22 Immutable Laws of Branding in order to establish a working concept for what branding really is. The world is changing, and the way business is being done is rapidly changing and becoming more digital. So without any further ado.
Today’s topic in relation to digital branding is, “the law of expansion.”
When it comes to building a brand, you are seeking to establish your brand in the minds of your target audience; the more people that are aware of and actively engaging with your brand, provides your brand with power. Power that can be used to grow and expand your business.
But is growth and expansion always a good thing. Our answer to that here at LEAD is… “not necessarily.” For the power of a brand is inversely proportional to its scope.
What the hell are you talking about J.A.A.? Well, let me explain. Some companies when engaged in building a brand tend to want to flood the market in multiple categories. For example, Chevy is a well-known and powerful automotive brand, but you might not be able to name the 10 different car models that they have, but what models do chevy fans mention? maybe the Corvette and the Impala. That’s about it. So, expanding your brand has the potential to weaken your position. Even though Chevy has two models that people love, the other 8 are irrelevant to most of the Chevy audience, therefore a weakened brand appears in the mind of the consumer.
Many do this because they think that the more, they offer their target audience, the more money they will make, and that may be true in the short-term, but in the long term, you diminish the quality of your brand. Customers want brands that are narrow in scope. How many times have you been on a website or on a streaming platform like Netflix and find yourselves browsing for so long you either no longer want to make a purchase or watch a movie on the platform because their scope was too broad.
So, if you want to build a powerful brand in the minds of consumers, you need to contract your brand, not expand it. In the long term, expanding your brand will diminish your power and weaken your image.
Let us leave you with a few things to consider:
• Make sure that your brand has a narrow focus. Do not allow your business to try and provide everything to everyone.
• Make sure that your products and services provide value to your customers and they are not oversaturated with choices.
• Lastly, make sure that you focus on building your brand for the long-term benefits rather than short-term financial success.