There is a lot of focus placed on start-ups and branding, but what do you do when you have been around for a while and you feel like your business is stuck in a rut? This is the time where you need to take a step back and evaluate your goals and where you would like the business to be.
A couple of days ago, I attended a red carpet event for the re-launch of Black Angel, a short film that was premiered alongside the original Empire Strikes Back over 30 years ago. Somehow, this short film was lost, only to be found 30 years later, re-mastered, and put in front of a new audience. Widely publicized through both traditional and digital media, Black Angel now has global reach, and its popularity is gaining traction daily.
This got me thinking, Hollywood does a great job of revitalization on a personal level as well as when it comes to franchise and film renewal through remakes and rebooting. There are a lot of things brands can learn when it comes to undertaking an overhaul.
You are never really forgotten
If Black Angel can reinvent itself for a broader audience, then you can do the same for your brand. You may think that your relationship has stalled with your target audience, but perhaps they just need to be reminded of how great you really are.
You need to determine why the brand refresh needs to happen and what your business targets are. Dust off that business plan and marketing plan that you spent so much time developing in the beginning and discover where you need to make your adjustments. Once you have decided what your goals are, connect with experts who can make your re-launch a success.
Roll out the red carpet
Everyone loves a red carpet event because it oozes VIP status. If you are looking to revitalize your brand, why not plan a VIP event for the re-launch? This type of event can be a success at all budget levels. An event can help you generate buzz surrounding your brand and could introduce you to a new audience. Small-scale events are great for media and influencers because it gives you the opportunity to hold meaningful conversations and get your message out there on a more personal level, whereas large-scale events are good for the spectacle. Don’t rule out a social media component either. Hold a Twitter chat or perhaps a Facebook contest to reach out to your audiences across the globe.
You control your own story
Throughout Hollywood’s history, celebrities have been reinventing themselves. Perhaps they have outgrown their image, maybe they aren’t getting the steady stream of work they once had, or it could be that they are trying to remain relevant. For example, Madonna has been no stranger to scandal and career revitalization. She has reinvented her sound to appeal to new audiences, tried her hand at acting and fashion design, become a business mogul, and overall has controlled the path her 30 year career has taken when most pop culture icons fade into the background, giving way to the young, up and comers.
There are countless examples of movie franchises remaking earlier film versions – some with success and some not. You need to evaluate what is important to your audiences, and that should determine your next move. It may be as simple as a colour re-master to an old black and white film!
When making decisions related to your brand revitalization, make gutsy moves. The key is that once you have decided what path you would like to take, how you would like to evolve your brand story, don’t go halfway. Make sure you create your messaging, rework your web content… and then let your customers know!