What Can You Learn From These Legendary Brands?
Effective branding matters; it’s a crazy powerful factor when it comes to the success of a company. Having a strong, thoughtful brand image will allow you to connect with your target audience while easily besting your competition. The most reputable brands in the world have become household names by earning the trust and loyalty of millions of shoppers. Let’s check them out:
Ikea has built a reputation on providing inexpensive home décor with a modern flair and has paid close attention to their main target audience: young families. They realized that placing a restaurant inside of the large, maze-like store would encourage families to eat there, which would increase the likelihood of them purchasing something before leaving. (Can we just take a quick moment to appreciate the deliciousness of those hotdogs?). By adding new offerings to improve the customer experience, your target audience will enjoy spending time at your establishment and are more likely to return on a regular basis. (This doesn’t mean we’re telling you to run out and get some hotdogs for your customers!).
In recent years, Mercedes has reinvented itself. Knowing they had become the “dad car” brand consumers associated with being safe but very expensive, the famous luxury car company worked hard to change that brand image subtly. All that work paid off in spades; the company has been able to capture the attention of a younger audience while maintaining its loyalty with previous consumers. When deciding to reinvent your company, ensure your messaging remains consistent and true to your brand while stepping outside of the box to grab the attention of a new target market.
Traditionally, McDonald’s was seen as the go-to restaurant for a quick, tasty dinner. However, with recent health trends, McDonald’s has become less popular. Although the restaurant chain has been a dynamo in the food industry for decades, the brand is losing customer loyalty to more innovative companies like Chipotle. These new companies seem to have a better understanding of consumer needs, and have been created with flexibility in place to accommodate these ever-changing needs. Staying up-to-date with consumer trends will help your brand improve without relying on past successes to keep your business afloat.
The Toyota brand has been the No. 1 carmaker for years, despite a number of recalls that damaged their public image. Their ability to handle adversity and bounce back from a scandal has shown their perseverance in a cut-throat industry. By developing a strong reputation that is consistent and reliable, your brand’s ability to survive a public relations crisis will increase vastly.