There’s a Churchill quote that can be applied to brands. (OK, there’s a Churchill quote that can be applied to everything, but this one happens to work for brands!)
The last part goes, “But the past should give us hope.”
We mention that because, more older brands – “legacy” brands – are repositioning themselves and their marketing to be more attractive to younger consumers. And let’s be honest about it, an older brand’s awareness, gives it a big head start versus having to create a new brand from scratch. The older brand already has some values built into it.
All it takes is time and insight into what another generation values most in the category in which you’re going to compete. Imbue your brand, advertising, and marketing with those values and, voilà, you’ll have a new old brand!
You know the luxury brand Shinola? They sell handbags for $1,400, watches for $1,200 and bicycles for $3,000. Not bad for a brand started life as a shoe polish in 1877.
Want to know what other brands are up to? We invite you to read Janet Morrissey’s New York Times Advertising column, “Legacy Brands Tell Younger Generations: We’re Not Just for Your Parents.” Or in some cases, your grandparents.
As to the beginning of what Churchill said, it went, “The future is unknowable,” and maybe that’s true about history, but not about predictive brand assessments!
Today you don’t have to rely on just hope, because our psychologically-based, emotional engagement metrics can identify values consumers can’t, won’t, or haven’t yet articulated about what they truly desire before you start your re-branding efforts. More importantly those metrics identify values that get consumers to buy.
No matter how old your new brand happens to be.
Find out more about what makes customer loyalty happen and how Brand Keys metrics is able to predict future consumer behavior: brandkeys.com. Visit our YouTube channel to learn more about Brand Keys methodology, applications and case studies.
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