One of the neat things about owning a thriving business is that the better your company does, more and more opportunities become available to you. Success is a strong magnet. When other entrepreneurs or business owners see that you’re doing well, they look for ways to hitch their wagon to your star. This can happen in many ways: strategic alliances, joint ventures, licensing opportunities and more.
You need to consider these opportunities very, very carefully. It can be so exciting – especially when a larger brand reaches out to you and says, “Hey, let’s do this together!” – that you forget to consider whether or not a move is really in your brand’s best interests, long-term.
Today’s questionable brand extension comes in the form of the Duck Dynasty branded Bible. I’ll be the first to admit to admiring the Robertson family’s marketing prowess previously, but this time, I think they’re really on some shaky ground.
The most important asset any company has is its relationship with its customers. The Robertsons have attracted legions of fans to what is, essentially, a lifestyle brand. They have a TV show, but the larger message of faith, family, and a conservative, rural worldview has driven jaw-dropping sales of all types of merchandise, including books, DVDs, apparel and more. Currently, there are more than 20 pages of Duck Dynasty related items listed on Amazon.
A key component of the Robertsons’ appeal is the perception that they’re down-home, humble people. That’s what makes the branded Bible such a problematic proposition. It’s hardly down-home and humble to think that your commentary can improve upon what almost the entirety of your target market considers to be the world’s holiest book. Will the arrogance of this brand extension be enough to clip Duck Dynasty’s wings?
We don’t know that yet – but we’re confident in saying that just because a business can do something doesn’t mean it should. Making the right strategic choices for your company is always hard, and it’s especially tricky during times of rapid growth.
For best results, you’ll want to work with a trusted advisor. We take the long term approach when advising our clients. There are many routes to taking your company to the next level. You want to pick the one that’s right for you today – and for years to come!