Is your brand struggling to make an impact in the market? Has it lost its relevance and experienced a decline in sales? It may be time for a brand revitalization. Brand revitalization is the process of rejuvenating a brand and restoring its position in the market. By strategically changing various aspects of the brand, businesses can reignite consumer interest, strengthen brand equity, and drive growth in a competitive market.
There are various strategies that can be employed to revitalize a brand and give it a fresh new start. From becoming customer-centric to renaming the brand, these strategies have proven to be effective in revitalizing brands and putting them back on the path to success.
Key Takeaways:
- Brand revitalization is the process of rejuvenating a brand that has lost its relevance.
- Strategic changes to the brand’s visual identity, messaging, product offerings, and marketing strategies are necessary for a successful revitalization.
- Becoming customer-centric and focusing on the needs and desires of customers can turn a brand around and regain market share.
- Renaming the brand can help start fresh and change any negative perceptions associated with the previous name.
- Streamlining and simplifying the brand can help recover from brand dilution and strengthen brand recognition.
Becoming Customer-Centric
One effective brand revitalization strategy is to adopt a customer-centric approach. This involves prioritizing the needs and desires of your customers and making customer-focused changes accordingly. By placing the customer at the center of your business operations, you can create a strong foundation for brand revitalization and drive long-term success.
When Delta Airlines faced challenges, it implemented a customer-centric approach to turn things around. The airline took several customer-focused steps to enhance the overall experience. It brought back highly visible customer service agents, added WiFi to its flights, and implemented a “flat tire” policy to provide assistance to delayed passengers. These changes demonstrated Delta’s commitment to meeting customer needs and resulted in a significant improvement in customer satisfaction.
“We wanted to create a customer experience that exceeded expectations and differentiated us from our competitors. By becoming more customer-centric, we were able to revitalize our brand and regain the trust and loyalty of our customers.”
-CEO of Delta Airlines
Delta’s emphasis on customer service played a crucial role in saving the company from decline and restoring its position as one of the top airline brands. By proactively addressing customer needs and striving for excellence in customer service, Delta successfully revitalized its brand and regained market share.
Implementing a customer-centric approach can also involve improving the performance and efficiency of your customer service operations. By investing in training programs and technological advancements, brands can elevate their customer service to new heights. This shift towards a customer-centric culture creates positive brand experiences and fosters strong customer relationships.
Benefits of a Customer-Centric Approach
A customer-centric approach offers several benefits for brand revitalization:
- Enhanced customer satisfaction and loyalty
- Increased brand trust and credibility
- Improved word-of-mouth marketing
- Higher customer retention rates
- Greater competitive advantage
By prioritizing the customer experience and making customer-focused changes, brands can revitalize their image and establish a strong market position. Delta Airlines is just one example of how a customer-centric approach can lead to successful brand revitalization. By taking inspiration from such brand revitalization examples, businesses can reimagine their strategies and create a positive impact on their target audience.
Renaming Your Brand
Another effective strategy for brand revitalization is to rename your brand. This can help you start fresh and change any negative perceptions associated with the previous name. Renaming provides an opportunity to align your brand with its updated values and target audience. Let’s take a look at some successful examples of brand revitalization through name change:
New Zealand Deer Industry: Differentiating with “Cervena”
The New Zealand deer industry underwent a successful brand revitalization by renaming their venison products as “Cervena.” This name change was aimed at differentiating their products from others in the market. By adopting the name “Cervena,” the industry effectively communicated the unique qualities and premium status of their venison. This strategic renaming has resulted in increased brand recognition and stronger connections with their target audience.
Fonterra: Farm-centric Rebranding
Fonterra, a prominent dairy product company, implemented a name change as part of their brand revitalization efforts. They rebranded their RD1 stores to “Farm Source” to reflect their farmer-centric approach. This name change aligned with their brand platform, which focuses on providing agricultural solutions and support to farmers. Through this rebranding, Fonterra effectively communicated their commitment to the farming community and strengthened their connection with their target audience.
Streamline and Simplifing Your Brand
Apple: Focusing on Innovation and Design
Apple’s turnaround in the late 1990s is a classic example of revitalization through streamlining. Under Steve Jobs’ leadership, Apple significantly reduced its product line, focusing instead on a few high-quality products like the iMac, iPod, and eventually, the iPhone. This strategy of concentrating on fewer products with innovative design and user-friendly interfaces helped Apple transform from a struggling computer company to a leader in consumer electronics. The result was a resurgence in brand popularity, profitability, and a reputation for cutting-edge technology and design.
P&G (Procter & Gamble): Streamlining for Efficiency
In 2014, P&G announced a major decision to streamline its brand portfolio. The company, known for its diverse range of consumer goods, decided to focus on its 65 core brands, which accounted for 90% of its profit. By divesting, discontinuing, or consolidating over 100 brands, P&G aimed to simplify its operations and concentrate resources on its most profitable segments. This strategy not only improved operational efficiency but also strengthened P&G’s market position in its key categories.
Ford Motor Company: Refocusing on Core Brands
Ford’s revitalization strategy in the late 2000s involved streamlining its brand portfolio to focus on its core Ford brand. The company sold off other brands it owned, like Jaguar, Land Rover, and Volvo, and discontinued Mercury. By doing so, Ford was able to concentrate its resources on the Ford brand, investing in innovation and quality improvements. This refocusing helped Ford regain profitability and market share, while strengthening its brand identity as a manufacturer of reliable and innovative vehicles.
| Brand | Strategy | Transformation Result |
|---|---|---|
| IBM | Focused on hardware, business software, and IT services | Regained position as a leading technology company |
| Apple | Concentrated on a few high-quality products | Transformed into a leader in consumer electronics |
| P&G | Focused on 65 core brands, divesting others | Improved operational efficiency and strengthened market position |
| Ford Motor Company | Focused on the core Ford brand, sold off other brands | Regained profitability and market share |
Streamline and Simplify
Brand growth is often accompanied by brand dilution, which can result in decreased sales and reduced brand recognition. To overcome these challenges and revitalize a brand, it is crucial to implement a streamlined strategy. One notable example of brand revitalization through streamlining is IBM.
IBM successfully rebounded from substantial losses by discontinuing business areas that didn’t align with its core competencies. Instead, the company focused exclusively on three key areas: hardware, business software, and IT services. By simplifying their offerings, IBM was able to regain its position as one of the world’s most successful technology companies.
Streamlining and simplifying a brand can be a powerful strategy to recover from declining sales and strengthen overall brand performance. By narrowing the brand’s focus and aligning it with core competencies, businesses can reposition themselves for growth and regain market share.
FAQ
What is brand revitalization?
Brand revitalization is the process of rejuvenating a brand that has lost its relevance or experienced a decline in its market performance. It involves making strategic changes to the brand’s visual identity, messaging, product offerings, and marketing strategies.
Why is brand revitalization important?
Brand revitalization is necessary to reignite consumer interest, strengthen brand equity, and drive growth in a competitive market.
What are some examples of successful brand revitalization strategies?
Examples of successful brand revitalization strategies include becoming customer-centric, renaming the brand, streamlining and simplifying the brand, reaching out to the community, amplifying the brand story, refreshing packaging design, going the extra mile, and going against the grain.
How can becoming customer-centric help revitalize a brand?
By focusing on the needs and desires of customers and finding ways to meet them, brands can turn their brand around and regain market share. For example, Delta Airlines implemented a customer-centric approach by enhancing customer service, adding WiFi, and improving performance and efficiency.
Are there any successful examples of brand revitalization through a name change?
Yes, successful examples include the New Zealand deer industry’s renaming of their venison products as “Cervena” and Fonterra’s rebranding of their RD1 stores to “Farm Source.” These name changes helped these brands align their names with their brand platforms and values, resulting in stronger connections with their target audience.
How can streamlining and simplifying the brand help revitalize it?
Brand growth can sometimes lead to brand dilution, causing slowdowns in sales and diminished brand recognition. Streamlining the brand by focusing on core competencies and discontinuing non-aligned business areas can help businesses recover from falling sales and strengthen their brand. IBM successfully implemented this strategy by focusing on just three areas: hardware, business software, and IT services.
