When a brand starts to show symptoms of under performing, that’s the time to take things into considerations and think about a new marketing strategy.
It may look dramatic but it is not. You have to change the language in which you communicate with your target audience.
When is the right time?
No clear strategy: if your target cannot identify your brand it means you are sending a mixed message to both your customers and prospects. The confusion will lead to the brand losing its position among valued customers.
Wrong positioning: what a brand means to your target is vital but if your brand position is not the one that you claimed, you need to think about brand repair. A smart move could be re-positioning the brand in this value position if it is not already claimed by the other competitors. In this case you can relaunch the brand without brand repair.
Market change: If after market research, a great change was noticed and the new position is of higher emotional intensity, you have to consider changes to align your position with the brand DNA.
Competitor change: if you note drastic changes in terms of opinion, position and marketing strategy, you have to take those signs in consideration. Sooner or later think about re-positioning and relaunching your brand — otherwise you would be excluded.
What to do?
Make sure that those who already have awareness of your brand get your message loud and clear. They must know the brand has changed.
Your new brand position has to come down strong with a unique and clear purpose so that it makes it difficult for your new target to ignore it.
You have to create enough buzz around your brand that if prospects ignore it they fear being excluded from a new movement. Give them a part and they will get involved and eventually engage with your brand.
Make sure your new message agrees with your existing customers, but don’t give your whole focus to them. What this means is that your focus needs to be more on the beliefs, precepts, needs and wants of the prospect rather than the needs and wants of current customers.
You can grab your prospect attention by changing the appearance of the brand. Coming up with the new tag line is not enough, you should most certainly change the logo to trigger your prospects to explore your brands deeper.
So if you are sure that it’s time to relaunch your brand you should first start with great market research. But it is not all up to numbers and analysis. You should use the help of someone who knows how to do it.
Ain’t Laurent without Yves
Hedi Slimane was heavily criticized when he decided to drop Yves and change the name of the brand to Saint Laurent.
By changing the brand image from classic Parisian to edgy rock and roll he claimed to bring a younger demographic and he delivered indeed. By the end of the 2013 the French fashion house revenue had a 51% growth.
All in all, a must-have!
In 2008 Phoebe Philo the new creative director of Céline already had a vision of all the changes she wants to make.
“After my break, and with Celine in various different hands these last years, it felt better for me to work on an idea of a wardrobe than too much on trends. .. The collection is about interchangeable investment pieces. I worked hard to create things that will stand the test of time.”
In 2010 she launched the logo-free bags and soon after it became a must have item. They let the product to speak for itself and refused to do any advertising on social media. It became not only a trendsetting piece, but a cult item. In 2012, the company saw an increase in sales of 62.9%
If you want to make a mark you have to be consistent. You have to take risks and experiment. When you realize it could be a successful method you have to build your content around it. It is not an easy task and surely needs great investment, but by finding the problem soon enough, choosing a right strategy and having the proper plan you most likely can achieve your goal.