What is Umbrella Branding?
Umbrella branding involves offering multiple different related products or services and having them all fall under the same brand name. This marketing strategy allows you to further position your brand to customers and show them how it can add value to them.
Umbrella branding enhances the marketability of products by using the same level of quality for all produced under the same brand. You’re able to leverage the credibility your brand has already gained with other products to target a more extensive customer base and continue to boost your credibility.
Cost-effective and resourceful, an umbrella strategy helps you save on advertising costs. Since you already have a presence in your industry, your branding and customers are established. Therefore, you won’t have to spend time designing new elements for your brand.
In this post, we’ll explain the impact of umbrella branding and how to effectively execute an umbrella strategy for your business.
The Impact of Umbrella Branding
As you reflect on your business’s current status and determine your long-term plans, umbrella branding can help you expand your business through your brand’s current equity. In other words, you drive off of a core product or service and its brand to introduce new correlated ones.
Umbrella branding allows you to offer a variety of products and services as long as they are related. Offering more products and services provides more opportunities for more sales and revenue for your business.
Creating an Umbrella Strategy
Umbrella branding involves planning and adapting your current branding. Here are 5 helpful tips for creating an umbrella strategy for your business.
- As you consider utilizing an umbrella strategy for your business, reflect on your brand’s story. When adding new products or services, make sure they coincide with your brand’s promise.
- Keep your customers’ needs and interests in mind. With this in mind, you can think about how to expand your audience through the subsidiary brands of the umbrella brand. In other words, try to nail down what your customers currently like about your brand and how you can retain them while expanding your audience at the same time.
- Build off your core product that’s already a part of your brand. Acknowledge what was working for that product’s branding. Recognizing this can help you define the products that you branch out with while remaining relevant and maintaining authority in a competitive market.
- Consider hiring a professional design\branding team, like Dream Media Designs to help you build a strong image for your brand. Our branding experts can guide you through designing a versatile logo to cover a range of products while staying true to your brand.
- Project your brand’s personality through your umbrella branding. Maintaining your brand’s personality throughout the umbrella strategy will help you stay consistent, help customers understand and remember who your brand is, and help you gain brand awareness from a wider audience.
Final Thoughts
As your business looks to grow and attract a wider range of customers, umbrella branding can become your superpower. You can strengthen your brand’s identity while offering more variety of products and services.
Umbrella branding is a clever strategy because you can use the popularity of another product to provide credibility to a new one. This helps both repeat customers and prospective customers find the new products and your brand enticing. The more positive associations people have with your brand, the more credibility and trust your business can develop.
Umbrella branding is an affordable marketing strategy because you can rely heavily on word-of-mouth advertising from the loyal customers you already have, to promote your new products. Essentially, your business uses its already- established reputation to market the new ones under the umbrella brand. Thus, the new products benefit from the brand’s reputation by being under the umbrella.
Umbrella branding provides an opportunity for building stronger brand loyalty amongst customers and more brand equity by making products more appealing to them.
If you launch a product from a different category, you can increase your business’s market share. Moreover, you can significantly increase your sales. This is how you can take a chance with your brand while having a safety net to fall back on if necessary.
While umbrella branding may seem challenging, when executed well, it can be highly efficient and allow you to promote one single brand, while producing tremendous results for your business.
