You can use this extra marketing power to create a separate brand that targets a niche market or even to compete with your existing brand. This is called multi-branding and can work well to get you a bigger piece of the market pie.

Here’s how it works:

Create a New Brand

Create a product line extension with a different brand, packaging and a totally different attitude towards the business. Set yourself up as competition to your existing business. If you’re profitable at selling affordable tasty sugar-free cakes, sell premium custom designed sugar-free cakes. The idea is someone else is bound to come up with the idea and steal your fire, why not go ahead and do it.

Why a new Brand?

The last thing you want is to confuse your customers and associate your brand with many different Unique Selling Point and dilute the value of your specialty. The effectiveness of your brand is being the best at doing one thing you do. Having two or more products associated with you is bad business for name recall.

How to Do It?

1)Start with Your Packaging

You may produce your items through the same production line, but make sure they look different. Start over and find a new color scheme and logo for your new brand, design new boxes, packaging materials, labels, and go the whole nine yards.

Differentiate your new packaging materials from your other brand. Choose more luxurious deeper colors or lighter but more subdued tones. Experiment with a more sophisticated color schemes.

2)Website

a)You can offer a wealth of information through your website from the price list, to product offerings, to picture galleries. Unlike other marketing materials, you have unlimited shelf space on the internet and is a great way to build up on word of mouth.

b)The internet has a great appeal to those people on the lookout for great finds. It’s extremely hard to dig through the rubbish in the internet that it’s a treasure hunt to look for valuable goods.

3)Club Flyers

The style and quality of your marketing materials including your packaging adds value to your products and services. If you decide to cater to an upscale clientele consider upgrading your print ads. The standard flyer can have more style and glamour from club flyers which are more of postcards than anything else.

4)Catalogs

Think of your catalogs as your work portfolio you can use to advertise your work. You can give this away upon request from those considering to avail of your services. Your printing estimates maybe a little intimidating as compared to your standard brochure, but it pays off with the higher price you can charge for your premium products.