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One Thing: Day 198: Virgin Puking…
Day 198: Virgin Puking…
Yesterday I was talking about how to create a category… Fed Ex, Jake Burton, Dominos, and Steve Jobs were all super impressive until Elon Musk came along with his plan to Colonize Mars.
Musk gets badgered constantly and folks of all shapes and sizes talk about what an idiot he is.
Elon SOLVES more problems by 9am on Monday than they do in an entire 3-month span.
“Stop downgrading your dreams to suit your circle. Dramatically increase your conviction to match your destiny.”
Your ONE COACHING THING Today Is:
Last week I wrote a couple of emails on branding and got significantly more feedback than I would have expected.
More specifically I got asked for advice on how to help your high-end coaching clients brand properly.
To do this properly you’d be well advised to understand the topic of Sub-branding also.
It took me a week but I finally pulled my thoughts together enough… in order to be able to explain it to you properly.
Sub-branding is when the main brand (Coke) creates a subsidiary (Diet Coke)…
And the goal is to create a new audience to connect with (those that don’t drink Coke cause they worry about gaining too much weight).
Consumers who trust the primary brands are far more likely to try a new offering under the established name.
No one has done it better than Coke but here are a couple of successful examples:
FedEx Customer Critical
FedEx Trade Networks
This is something that needs to be done VERY strategically and for every example of success, there are 100 that failed miserably.
Virgin created everything under the sun:
Virgin Life Care
Virgin Balloon Flights
It’s like the Virgin brand has ADHD and puked all over Necker Island.
Holiday Inn created an upscale version:
Holiday Inn Crowne Plaza
It went absolutely nowhere until they just called it ‘Crowne Plaza’ and disassociated with the budget Holiday Inn entirely.
The list of companies, headed by very smart people, that have done this poorly is a long and distinguished one with Chevrolet being the poster child.
Here are the 3 questions I think are most relevant when considering a Sub Brand for your high-end coaching client:
- Is this an ‘organic fit / common product idea’ for their business?
- Does this solve an existing problem in the marketplace?
- Do they have enough resources to allocate to their success?
You heard it here first.
Obsessed with your business coaching success,
Karl Bryan aka King Karl
PS. Some days I amaze myself.
Other days I search for my phone while I’m holding it.
PPS. If you’re looking for a proven system to follow for your coaching…. I created business coaching software and high-end step by step training to support it…
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Reply to this post if you want to start following a proven coaching system.
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