Wandal Need & Feed,
West Rocky Hardware
Having a multi-brand strategy is paramount for businesses that have a portfolio of products and services with different brands/names, all owned and managed by the same company and operating under one roof.
The strategy of diversifying your brand portfolio holds many benefits.
Potential to position your brand as a market leader.
When you build brand awareness, you're more likely to create a loyal following for your brand. A customer may recognise the parent company and trust that they're making smart decisions even though they have never tried a product before. They associate the brand with value and become more inclined to buy other products the company makes.
More shelf life.
Even though the marketing strategy for each brand may be completely different and appeal to different consumers, you can create a leg-up on the competition. For example, if you have eight types of pet food on the shelf, there is less room for competing products. Consumers may not even realise that your company makes or sells all the products because the marketing is unique for each one.
If you're not keeping tabs on your brand's reputation and a crisis occurs, the other brands in your portfolio may not be affected. With a multi-brand strategy, each brand has its own identity and personality, typically appealing to different audiences. In some cases, consumers may not know which brands are part of the same family.
A multi-brand strategy can seem daunting and complex. CMM has the expertise to execute a marketing strategy that provides an on-point solution for each brand, resulting in a more sustainable path to success and ROI for your business.