Some of the most meaningful, transformational brand extensions came to fruition as a result of companies tapping into intangible yet salient aspects of their brand positioning. Like many other components of branding and brand strategy, successful extensions first require a shift in mindset.
Today’s information-rich, socially exhaustive environment has changed consumers’ approach to decision-making. Consumers do not simply expect better customer experiences—they feel that they’re entitled to them. Brands have almost universally accepted that digital is reshaping consumer behavior and shopping habits, yet many are still unable to reshape with them. Part of the problem may be that marketing leaders fail to understand just how profoundly digital technologies are influencing consumer expectations.
Today’s winning brands can’t afford to play it safe. They don’t say "that's just how it’s always been done," and they understand that their brands are more just a sleek logo or a cool tagline. The brands that crush their competition understand that branding and brand strategy go much deeper than attractive website design and responsive mobile design.