The Power of Brand Extension
What is brand extension?
Brand extension is when a brand leverages its positive brand equity and image to enter new business categories more seamlessly. Brands are essentially taking the power that comes with their name and strong identity and using that to venture into new businesses with the ultimate goal of growing their brand and company. This article will explore how individual fitness professionals can take advantage of brand extension to expand their business. But first, let’s dig a little deeper into brand extension.
Brand extension is a powerful way for a brand to grow its business because it can (1) make marketing cheaper and more efficient and (2) enhance the overall brand image. It makes marketing more cost-efficient because a brand can leverage its existing consumers, resources, and marketing channels to promote its new product. For example, a brand can use its already well-established Instagram to build hype around a new product. This is huge because building awareness around that product will be more effortless, cheaper, and have a quicker return on investment, making it less risky than venturing into a completely new business. And finally, if the product is a success, the positive feedback from this new product will trickle up to your parent brand, and, therefore, enhance your brand’s overall image.
While Brand Extension can be a powerful tool to grow your business and enhance your brand image, be mindful of the alignment between the new product and the existing brand. If the new product you releases doesn’t closely align with your parent brand, you can create confusion, potentially leading to a negative brand image. This would not only mean a fail for the new product, but it could result in some severe damage to your original or parent product.
Brand Extension as a Personal Trainer:
Now that we have a clear understanding of what brand extension is and the benefits of leveraging it let’s consider a few ways we can utilize this concept to grow our business as Personal Trainers and Fitness Professionals.
- Workout guides: These are a great idea for a brand extension for fitness professionals with a strong online presence because your target audience is easily accessible.
- Specialty Workout Classes: Partner with a local business that aligns with your values and offer a weekly workout class. Classes are an excellent option for newer professionals because it allows you to increase your audience and cement your brand’s image and personality by showcasing your talents and choosing the appropriate partnerships for your brand.
- Workout Equipment & Apparel: Equipment and Apparel is a natural brand extension for any trainer, but more seamless, again, if you have a large existing customer base. This would be a good fit for those who have a physical gym or a significant online presence to sell the products.
Someone who is really killing it in the space of brand extension is lifestyle and fitness influencer @rachaelgoodeats. As implied by the name, she started her Instagram account centered around healthy eating but has expanded her page also to include fitness content. Being both a Registered Dietician and Certified Personal Trainer, she has leveraged her knowledge in both spaces to create a page that embodies full-body wellness. What started as just a blog has now expanded to other business ventures such as workout guide e-books and gym equipment (see images above) which she has created and successfully executed by leveraging her large community and following.
If done well, brand extension is an effective strategy that will help a brand expand and prosper. When considering a brand extension strategy, make sure to consider your target audience and how your new product would serve them and enhance their perception of your overall brand. Customer perception is vital in brand extension and has the power to influence the outcome of your new product launch, so be sure to consider the alignment of your parent brand or original brand and its alignment with the new.