Building your business through brand extension
During tough market conditions, brand or product line extensions might just be the best way for your business to stay healthy, especially if they’re not something you spend much time thinking about. When done right, brand extensions can either be a positive way to build stronger and more profitable relationships with your clients and customers. When done poorly, brand extensions can be expensive experiments that drain cash flow and confuse your market’s understanding of your business’ proposition.
Loyalty and Trust
One of the greatest benefits of building a strong brand is the loyalty and trust that you build with your clients and customers. As purchasers of products and services, people will always prefer to deal with someone they have a trusted relationship with, over forming a new relationship without established trust. Adding a product or service offering to your brand that is relevant to the needs of your customer can not only have a positive effect on revenue, but also further enhance the relationships your customers have with your brand.
Real estate agents extends themselves
Melbourne real estate agent; Marshall White recently developed a value-add service for clients preparing their homes for sale – huge removal and self storage trailers. Parked out front of a house sporting an ‘upcoming auction’ sign, the over-sized blue and gold trailer not only drew attention to the house on behalf of the vendor, but also provided a high traffic billboard – all for the benefit of Marshall White.