From time to time, many brands find it tough. As a leading PR and communications consultancy we’re often asked to look at brands that need a little bit of TLC. Here are five key considerations for revitalising your brand.
- Don’t neglect current users. This is a fundamental and essential first step. Check your current consumers’ buying and usage patterns. These people are already yours, but you want to encourage them to buy and use more. How? Care for them: encourage them, engage with them and incentivise them to buy your brand not a rival’s.
- Distribution: Look for other areas of distribution – food service is growing; retail can be expensive and difficult with the multiple demands on margins and prices. Online remains a big and, in many cases, underutilised opportunity.
- Can the brand reputation be used on other products? Go for other expanding, growing areas, not small opportunities, unless they have very good margins. But be careful of too much enthusiasm for wonderful new usage patterns. They cost money and are very difficult to break into
- Brand variety: Stretch the brand into new but potentially volume-driving varieties – adding new content, flavours, new packing, new sizes to suit family demand; new shapes or forms – but preferably with different extra values or you will cannibalise your existing range.
- Relaunch whatever you have created properly, back your aspirations with budgets that reflect your ambition. Enthusiasm is catching – but so is mediocrity – so budget for success.