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How do you increase sales of a niche brand without diluting its power? The most common action from entrepreneurs is to create more varieties or expand the brand into other categories. This of course dilutes the brand, making it weak in the long-term.
The best approach is to broaden its appeal. In other words, the idea, product or service in question stays the same but more people who are outside the primary target market are attracted to the brand.
Take the Cirque du Soleil. What made it a global brand is that it made circus appeal to a broader audience. They did not get into music festivals, movies, theatre or any other form of entertainment.
They expanded the market. First by going global and then by becoming one of the most forms of entertainment (ie: by making circus a big deal).
And now, they’re in a sweet position where the winner takes all. As the circus produces more shows in more countries, it becomes even more popular. Its popularity attracts bigger audiences which lead to more shows and the cycle repeats itself.
That’s how the Cirque du Soleil became Canada’s best company according to a leading newspaper.
