In order to stay competitive in the market, brands need to be willing to change and adapt. Sometimes this means starting from scratch and building a new brand entirely. It also means taking an old brand and repositioning it for a new audience. We are going to discuss today: how to reposition an old brand for a new audience using the brand strategy example of Old Spice.
What is a brand?
A brand is more than a name or a logo. It is an idea, a feeling, and an expectation that consumers have about a product or service. When done correctly, branding can create loyalty and customer evangelism that leads to increased profits.
The Importance of Branding
Branding is essential for two reasons: first, it differentiates a company's products from its competitors, and second, it establishes an emotional connection between the customer and the product. When customers feel a personal connection to a brand, they are more likely to be loyal and return.
What is considered old?
When it comes to brands, there is no definitive answer. However, we can use general guidelines to help us determine when a brand might need to be repositioned. For example, if a brand has been around for more than five years, it might be starting to feel dated. Additionally, if the company's target audience has shifted over time, the brand might need to be repositioned to appeal to the new audience.
Finally, if the company's core values have changed or a new trend that the brand could tap into, repositioning might be necessary.
What is New?
Now that we have a better understanding of when a brand might need to be repositioned let's look at what constitutes "new." To appeal to a new audience, the brand needs to communicate its message relevant and exciting to that audience. Additionally, the branding itself should feel fresh and new.
Finally, the products or services offered by the brand should be updated to reflect the latest trends.
What is Old Now That Now Becomes New?
The first step is to identify what is old about the brand and how it can be repurposed to appeal to a new audience. In the case of Old Spice, we might consider that the brand has been around for a long time and that its target audience is no longer as young as it once was.
Additionally, we might identify that the brand's core values have changed over time and that there is an opportunity to tap into new trends.
Update the Branding and Communication
Once we have identified what is old about the brand, the next step is to update the branding and communication. This includes updating the logo, tagline, advertising campaigns, and website.
For the brand to appeal to a new audience, it needs to communicate its message relevantly.
Once we have identified what interested that audience and what needs to be updated about the brand, we need to update the branding and communication accordingly. This means making sure that all marketing materials - from the logo to the website - are current and relevant.
Update the Product Offerings
The final step in the process is to update the product offerings. This means incorporating new products and services that reflect the latest trends. In the case of Old Spice, this could mean adding more grooming products.
The Old Spice Story Retold
Old Spice has been around since 1937, and it was for men or expanding into other categories, such as initially marketed as a masculine scent. However, in the early 2000s, the brand began to lose popularity. In order to appeal to a new generation of men, Old Spice decided to reposition itself as a more modern and innovative brand.
The company hired Isaiah Mustafa, also known as "the man your man could smell like," to be the new face of Old Spice. Mustafa's quirky and humorous commercials helped to rebrand Old Spice as a hip and trendy brand.
Additionally, the company updated its product line to include more innovative and modern scents. And finally, it created a new website that was fun and interactive, which helped engage with potential customers.
The Results
The efforts of Old Spice were successful, and the brand was able to recapture its market share. In fact, Old Spice became the top-selling body wash in America in 2010.
The new campaign was a massive success, and it helped to revitalize the Old Spice brand. Sales increased by over 30%, and Old Spice became one of the most famous men's fragrances on the market.
So, if your brand is starting to feel old and dated, don't despair! There are plenty of ways to update and revitalize it. The key is to be creative and think outside the box. And remember, it's always essential to stay relevant and appeal to your target audience.
What is repositioning?
In the business world, repositioning is reevaluating and changing the way a company presents itself to its customers. This can include updating the branding, communication, and product offerings. Repositioning is often necessary when a company's target audience has changed over time or when it needs to appeal to a new generation of consumers.
Valuable Lessons Are Here to Stay
So, if you’re feeling a little lost and need to reposition your brand but don’t want to go the drastic route like Old Spice, we have some good news for you. It is possible to make a significant change without alienating your customer base or making them feel like they are being forced into something new. You can achieve the desired results with minimal risk with careful planning and execution. And who knows? You may just end up being the next Old Spice (but hopefully minus the hairy chest). Are you ready to take on this challenge? If so, be courageous – it’s worth it!