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MenuI am starting a company that will operate a range of niche travel experiences. Are there benefits of using multiple brands for different experiences?
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As former CMO of Expedia I can tell you that being focused will trump any theoretical upside of having different names. To this day there's a struggle to build daylight in meaning between Hotels.com and Expedia's core hotel business - and there have literally been billions spent on trying to do that over the years. Get clear on who you're for, the problem you solve, what insight you are building against and your positioning against that. There's enough work there on its' own - believe me. Good luck.
Only the super big guys can handle multiple brands! And they have separate operations teams handling each one. Humans need to be fully immersed in a brand to do it right, and few can handle many on the same day. Plus how do you cross promote? Doesn't matter if it is online or offline. Notice Amazon is one brand for all they do.
Building one brand is difficult and expensive enough. Start by focussing on the easiest niche, and worry about the rest in the future.
I would suggest you focus on one brand initially but make it flexible. Once you have established a brand you could look at either extending it or diversifying into segments. Suggest that you look at developing a "Unique Travel Experience" banner that can be used for a variety of your niches but I would start with the one you are most familiar and experienced. Let your customers drive your expansion.
I'm more or less in agreement with the previous comments. Starting off with multiple brands in parallel would increase your work load while fracturing your audience. We do see companies operating a hierarchical brand structure -- i.e. many individual brands beneath an overarching company brand umbrella. However, that's usually the result of acquisitions, mergers, spinoffs, and new launches over time. In most cases it's unwise to aim for that initially.
Better to find a brand identity that showcases the full diversity of your travel offerings.
Keep in mind that one brand can branch out in multiple marketing directions. One brand can be discovered in many different ways and places -- each appropriate to the business component in question.
I recommend creating a masterbrand under which you would set up individual profit centres, one per type of travel experience. This allows you to optimally leverage your investment in online/offline marketing AND your operations costs while allowing you to see which of the travel experiences perform most profitably and which are most popular with your target audience (you can expect these may not be the same).
Your tagline/brand promise should cross all product lines. For example, you could use something like "Travel experiences as unique as you are." (After all, it's all about the customer, not you/your products.) Then work all your marketing communications so that your masterbrand becomes known for this benefit and tie individual product positioning to making good on this promise.
Your idea sounds very interesting and I wish you great success with it!
Related Questions
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Should I find a new brand name?
You're definitely going the wrong direction. That's my opinion. But I'm right, and here's why: Your domain strategy is hyper-extended. You've got 4 domains in .CO.UK – hopefully 8 counting .UK rights. That's all well and good for a British audience. But you deliver work online; so why not appeal to a global audience? Here in the USA, ccTLDs (a.k.a. country codes) are not recognized. Your business will look strange and be misremembered as .COM. That means your marketing will be inefficient; you'll leak traffic to Google, parked PPC pages, or even competitors who develop sites with the same brand name(s) in the same niche! Meanwhile you'll pay extra in ongoing advertising costs to compensate. And you don't own the 4 corresponding .COM domains. I checked. They're owned by a pair of people / companies – both known to me already. To acquire these 4 matching domains, you'd need to spend about $10,000. That's based on the typical list prices these guys set, which you can verify, I'm sure. On top of this, you'd face brand protection issues for at least 4 distinct names. That obligates you to further domain purchases or risks ... in proportion to the number of brand names you're attempting to operate. After all, WantApp is confusingly similar to WantApps; and WantWebsite resembles WantAWebsite. And let's not forget .DESIGN and .WEBSITE, which means your WantDesign.co.uk is competing against both WantDesign.com and Want.Design, while your WantWebsite.co.uk has to shout extra-loud to be heard above WantWebsite.com and Want.Website. Things get complicated fast! You'd eventually face competitors with these names unless you bought them all. You might even get embroiled in trademark disputes, which are no fun. For that amount of money ($10k upwards), you can buy a really great domain name and consolidate all your efforts on a single brand name with worldwide appeal and a single website. In the long run, going the way you're going, you will pay thousands of pounds one way or another. Maybe you won't buy those other domains, but you will put extra cash, sweat, and time into marketing. You'd probably lose a few customers over the years as well, since they'd go somewhere other than your site and find other people to hire. I also have concerns about branding with multiple domains, managing multiple websites, or asking customers to bounce around between several sites. But there's no space to go into that. The domain issues already sank your battleship, I'm afraid. If you'd like help selecting a single unified brand name for all your services – which is what I recommend – let's talk. Naming and domain procurement are both areas I specialize in.JP
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What exercises can I use to come up with an effective brand for my product?
Several things to consider when coming up with your product's brand identity: 1) Who is your customer? That will drive the look and feel, as well as the language of your brand. 2) Who are you? If at a gut level, you and your company(employees) are rednecks making the highest quality broadheads for elk hunting, you aren't going to button up your brand in a shirt and tie or develop an artsy-fartsy website. (See Duck Dynasty) 3) What specific aspects of your product and/or service are different than the rest of the market offerings? Ie. Why are you special? These 3 questions, answered candidly, begin to make up your brand story. The most powerful brands have learned that their messaging, packaging, sales process and customer experience delivery is less about what their product or service DOES, and more about how it makes the customer or user FEEL. Branding a product or service is about carefully crafting a story(or a promise), that you are confident you can deliver on once they choose to buy. In other words, branding is the discipline of aligning what you say about your product, service, team... with what customers actually get on the back-end. Once you get really clear on these big picture questions, then the tactical stuff becomes rather easy (what should our website look like, colors, advertising channels, promotional pricing, referral programs, warranty language, etc, etc, etc.) Of course you may be smart to hire a specialist to help you brainstorm and execute on this stuff- but the actual decision making becomes pretty obvious: which option in front of us best reflects who we are?CN
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How can one mimic a bold pricing positioning to become a premium brand vs. a mid-range brand?
Many people in consumerist countries buy on emotion. It isn't the same at the lower end of the market, so brands lose out massively in that space, but they aren't really too worried about it given the disposable income available elsewhere. Branding involves understanding how your 'badge' makes your customers feel. There has to be a congruence between what they see and thus imagine. Oddly, this can also include what they can almost smell and taste! Even though those are not at any point defined in the brand strategy per se. The first thing is to identify your market segment. In the example you gave, ask yourself what is it you do? How old are you? Do you have children? What sort of job do you do? Are you happy with it? How much do you make? What sort of house do you live in? What other things do you like? etc. etc. etc. these all form what is known as a 'customer persona'. You may even help yourself along by cutting out items from magazines which help visualise answer to those questions or even create and cut out a large cut-out of that archetype. I do this a lot in different capacities, especially in IT and tech, since that is the market I revolve in most. I can definitely help with the strategy, but I'm going to say something quite odd. If you are thinking to, DO NOT contact me about manifesting it ;) As you can probably tell, there are two parts to this. The first is the strategy which I can do with my eyes closed. The second is the branding exercise, which involves the folk focussed on the emotional aspect of the process, even if they lack the strategic oversight or plan. If I were you, I'd find someone who has both. The strategic 'cognition' and the emotional/EQ skill. That is the sort of person you need or you can find people that work well together and use them both. Very best of luck!EA
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We're rebranding our mobile app with a new name and image after 2 years. What should our timeline look like? Are there any pitfalls we should avoid?
Your strategy should encompass at least four components: (A) Complete Visual/verbal/social/technical audit to find/create needed assets for transition: know which assets need to be retired or replaced and what transitional assets are needed to bridge the gap. Prioritize: not everything always needs to change at once and the more you have the longer it will take or cost. Plan to convert brand book concepts/guidelines into tangible or digital deployables: how much "stuff" do you need?; vendor selection; budgeting; designing production files; ordering; quality assurance etc... (B) Internal (team) awareness & asset deployment program and monitoring compliance. (C) External publicity plan: aimed at existing clients & prospects, and any other stakeholders: social networks, media, affiliate partners, etc... Timing should be coordinated with industry / sector calendar (trade shows, if applicable), and major app update for maximum effectiveness. Do you need specialized short term PR/AD help? How can you leverage your 10K+ users to buy in / get the word out? (D) Technical migration & Monitoring Plan: seo strategy & tracking including all affected url redirects, landing pages, email changes, whatever is affected. Monitoring & analytics to see how effective the transition is (compared to old name stats) and when transitional assets can be retired.DC
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How do I define a client avatar for people or businesses requiring branding and design services?
What a great question! You are on the right track. First, lets define Avatar as "An icon or figure representing a particular person." In business application, an avatar is a representation of your ideal client/customer. A business may have multiple avatars representing several target demographics. Some prefer to distill this down to one person as an “avatar.” I recently interviewed super entreprenuer John Lee Dumas of EOfire.com and he has a very clear Avatar he calls "Jimmy" that he uses for business decisions you may want to check out. I hope that you have already gone through the exercise of your UVP, or Unique Value Proposition. If not, may I suggest the worksheet on this page, first: http://bit.ly/1kYTLbf Ok, so once you've clarified the why choose me, then start working on your Avatar, that's the who, or as we marketers like to call them: personas that represent segments from your target market. You have to start somewhere, right? So do. Are you going to first focus locally in your zip code and surrounding area? That can be one piece in helping you visualize your Avatar's lifestyle. Target marketing has to do with breaking your potential global audience into segments, specifically only the potential buyers of our product, service, or cause. As much as we might be tempted, we can’t be all things to all people. We have to commit and put some stakes in the ground. Are you ready to write your personal ad? Who are you looking for? Some of the most basic questions you should ask in forming an idea of Customer Segmentation has to do with what these people want, need, think, and feel. No time is wasted from this exercise because it will ultimately lead you to where and with who they hang out (their tribe.) Why is that our desired end point? Because that virtual or real (coffee shop, tradeshow, website, search engine, twitter feed, health fair, street location, podcast, meetup, traditional media) is where I should be hanging out with my product, service or cause and shouting my UVP from the rooftops as part of the conversation! Taking this thought experiment all the way through will also assist you in the critical understanding of whether the segment is large enough for you to be successful. I like using the Personas app (available on iPad) to put forth a visual representation of my potential target markets, but a white board works too! Literally put in a photo representation of your Avatar with a Name, and start brainstorming out: Think and Feel? See? Hear? Say and Do? Hangs out with/where? For you, offering your B2B services, maybe explore linked in to find where your peeps hang out and get a clearer idea of, let's call her, Samantha. Samantha is a small business owner of a growing service business whose revenues just got in the black. She has two employees and she's looking to hire another. She is struggling with getting her website up and mobile friendly and feels like she needs to be more effective in communicating what she does. She is overworked, in her mid 40s and recently divorced with 2 boys ages 10, 12. She has little time for fluff and needs guidance in creating a system that will help run her business. Can you help Samantha? :-) If you'd like to get more tips that sound like this, I'd be tickled if you let me know if Sell Local. Think Global. speaks to you. It's my first book and I'm feeling very vulnerable putting myself out there! eep! Available now on Amazon: http://bit.ly/olgasbookOM
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