by Hampton Bridwell,
President, BrandLogic
Originally published in
Chief Marketer
Building a strong brand takes time, commitment, and hard work, but
the result is one of the most valuable assets a company can own.
Instant identification in the mind of the customer, a reputation
for competence and quality, the knowledge that the promises of the
brand are genuine and not just slogans…the list of benefits goes
on.
A strong, mature brand isn’t a static asset.
It must be cared for and nurtured, kept fresh, dynamic, relevant,
and at top of mind while retaining its unmistakable identity and
heritage. This balancing act is the challenge, and the opportunity,
presented by a mature brand.
On the surface, a long-established brand might
seem to be a limitation, implying stodginess, a lack of dynamism,
and an unwillingness to change with the times.
That perception doesn’t go deep enough.
Innovation is what keeps businesses alive and thriving in a highly
competitive world. Any company that’s been around long enough to
develop a mature brand is almost by definition an innovator. An
organization that has built a strong brand also has strong core
values that define it, values that have stood the test of time.
Always treasure and respect your heritage, and use it to guide your
brand revitalization.
What really counts is how your brand comes
across to your customers. You may be too close to tell. This is
where inertia can really hurt your efforts: the older and more
established the brand is, the harder it is to break free from that
inward focus.
You need to know what your customers expect. The
New Coke debacle is the classic (pun intended) example of failure
to do this. By all accounts the product tested well, all the way
down the line…but the company failed to realize that Coke isn’t all
about great-tasting products. Customers wanted to know that the
traditional, familiar, trusted brand would still be there, and they
felt betrayed when their beloved Coca-Cola disappeared from store
shelves.
That’s an object lesson in the value of getting
to know the brand from the outside and understanding the true
nature of the relationships that drive the business. Be honest with
yourself; the companies that have been most successful at
revitalizing their brands have examined themselves in an
unflinchingly truthful way:
- How do your customers view you, your heritage, your values, and
your ability to meet their needs?
- How do they experience the brand?
- What brand experiences are real, compelling, and
differentiating?
Revitalizing a mature brand is to a degree the classic meeting
of irresistible force and immovable object. One side of the
argument is "change or die," while the other is "tradition is
paramount."
The correct course, naturally, lies somewhere in
between. The trick is to place yourself in the center of that
debate and hear both sides. The "10-80-10" rule of focus is useful
here:
- Acknowledge your heritage (10%)
- Address the needs of today (80%)
- Look forward to the future (10%)
This gives continuity, ensures relevance, and shows that you’re
thinking ahead.
Before a mature brand can be redeveloped, it
needs to be thoroughly understood. Peel back the layers:
- What is it about the brand that gives it its identity?
- At the core, what gives the brand its value?
- What’s the central idea?
This is where having a mature, established brand can be an
advantage. A new brand has no established core, no heritage, no
track record to leverage. That central, pure idea of your brand—the
core of value creation—will become the centerpiece of its
revitalization.
By keeping that vital core intact, you retain
the essence of the mature brand even as you revitalize it. Staying
focused on that valuable core idea is the single most important
thing you can do.