A brand is like fashion that needs to be renewed after regular intervals. Or else, it loses its charm. Many times, the arrival of new competitors worsen the situation, considering the fact that customers have already started overlooking your brand.
Don’t just rebrand, make a proud comeback. Here’s how –
Being direct could be very inviting
Usually, many dying brands complain that customers hardly pay any attention to them because new and cheaper alternatives have taken over the market. Such a situation occurred with Starbucks. In fact, it had to close 900 outlets. Finally, it came with a witty and brutally straightforward ad campaign –
“Beware of a cheaper cup of coffee. It comes with a price.”
Actually, the other food chains offered coffee at much lower prices, the quality was not as good as that of Starbucks certainly. So, the Target Audience realized the value of a quality coffee through a simple truth –
“If your coffee isn’t perfect, we’ll make it over. If it’s still not perfect, you must not be in a Starbucks,”
Maybe there’s no need to advertise but do something different
A good advertising comes with a price. The budget seldom allows that. Luckily, sometimes the non-mainstream campaigns can do wonders. For example, an unglamorous and inexpensive beer brand Pabst Blue Ribbon was on the verge of dying. It had no budget to advertise. The marketing agency they had hired discovered that most of the people who bought this brand were hipsters. The marketing team attended all the possible social gatherings and started interacting with these hipsters.
The team wore casual clothes, took an interest in the interests of the TA, befriended it and convinced it to promote the beer brand. In the coming 5 years, the sales got doubled.
Thus, of many ways to rebrand, advertising in a straightforward manner and going in the field to interact with the TA have proved to be very effective.