There is an advantage to bringing in new blood to a company’s C Suite. It can charge up the energy and help make the business model relevant.
When decision makers elect to change marketing firms with new products it can be a disaster.
History has a cemetery of bad business and marketing decisions
The Ford Edsel
Thinking that an extreme design would appeal to buyers. Even the attempts to modify the car failed because the 1958 model turned buyers off.
The New Coke
Assuming that changing out the ingredients would help them win the cola wars of the 1980s.
Cracker Barrel
Get rid of the “old guy” the thinking went, but it was the old guy on the logo that confirmed trust and congeniality.
Drastic changes to a popular restaurant’s menu
Wrongly assuming that less offerings wouldn’t be an issue. It was, and 40% of their locations had to shut down.
Bud light
Bringing in someone who miss-read the buyers and promoted Progressive ideals to an audience which has remained predominantly Conservative for years.
Target
A similar case aimed at attracting more Progressive buyers at the cost of a more a Conservative “family oriented” middle-class who were immediately offended.
The difference between all of these mistakes is that, to their credit, Cracker Barrel actually listened to their customers’ feedback and quickly retreated from the new brand offering in time.
While new ideas continue to make companies relevant in rapidly changing times, (when consumer taste switches and latches on to something newer and cooler) the change needs to be considered to make sure it truly makes sense. One slip up, can doom a business.
John understands that innovation and relevance are critical for long-term success, but only when grounded in clear understanding of the customer base. The Russell Strategy Group has experience in navigating changes in company branding, while retaining the loyalty of the current customer base. To learn more about John, and to see how he can help your company move forward watch this short video: Watch Video