In today’s dynamic, consumer-driven marketplace, change is the only constant that brands can count on. The needs of a business’s loyal client base as well as their ideals and values may change. Because of these shifts, brands face the constant challenge of staying relevant and valuable to consumers. Brand adaptability is the cornerstone of success for any business. Being able to shift anything from a logo, to core values or business model, allows businesses to stay favorable with buyers and continue to grow. If you’re in need of a brand refresh, Kymera can use a strategic approach to giving you all the tools needed to keep your business thriving for years to come.
What is Brand Adaptability?
Brand adaptability is pretty straightforward – it refers to how well your brand can evolve and adjust to shifting circumstances. If you’re noticing a decline in new customers, or even just sales in general, your brand may need a refresh and a pivot.
How Do You Refresh an Existing Brand?
There are several ways to refresh your brand: you could visually adjust your logo and design of your website and packaging to look updated and more modern while still maintaining brand recognition. These changes may not seem like a huge undertaking, but refreshing how your brand appears visually to consumers may help change their perception of it.
A more drastic form of rebranding can occur by changing your target client demographic, which will effectively change your marketing strategy, but can yield incredible results.
One example of successful brand adaptability is Stanley. The thermos company had been in business for over 100 years, and had previously marketed to avid outdoor enthusiasts and blue collar workers. The thermoses were known for their durability and ability to keep beverages hot or cold longer than any other brands. While the brand had been in business for a while, they realized they had failed to market to a very profitable buyer base: women.
By noticing the gap in potential buyers, Stanley was able to re-target their marketing. They designed the “Quencher” cup, which came in an array of colors that were appealing to women, and had a handle. It even fits in a car cup holder, which made it an appealing reusable water bottle for women on the go. This example of brand adaptability allowed Stanley to increase their profits by 275% in the last year alone.
Another great example of brand adaptability is Netflix, who modified their entire business model to keep up with emerging trends. Netflix began as a DVD rental service, where customers with accounts could choose a number of DVD’s to receive in the mail and send back to the company after watching. When Netflix realized its business could go the same way as brick-and-mortar video rental stores, they did a major brand refresh. Because very few people own a DVD player and instead rely on streaming services on their smart TV’s, Netflix shifted its model to a streaming platform. Eventually, Netflix completely phased out the in-the-mail DVD aspect of their company, and has been able to maintain market share as one of the most widely used streaming platforms available. This is a great example of Netflix understanding its buyers and having an adaptable brand and business model.
If you’re noticing a decline in sales or new customers, it may be time to adapt your brand to match the current climate. Whether you’re in need of a minor design refresh or a major overhaul, Kymera can help. We have been experts in all things marketing for over 20 years, and our data-driven approach to advertising will put your brand ahead of your competitors. If you’re ready to bring your business into the modern age, contact us today.
