Don’t Just Hit It And Quit It
At some point in their lives everyone has danced to Sir Mix-a-Lot or had to stop, collaborate, and listen to Ice Ice Baby, but when these one-hit-wonders failed to innovate, their careers tanked. Today, these artists are known for reality TV appearances and questionable commercials. If you sit on your laurels now that you’ve launched a new product or redesigned your logo, you might join the ranks of the Macarena and Right Said Fred.
Engage Customers With New Offerings
If you have a good idea, then your customers will listen to see what’s next. Coca-Cola launched an incredibly popular marketing campaign in 2014 by printing hundreds of names on its bottles. After two years of people sipping personalized sodas, the company is changing it up. This summer, expect to see more than 70 song lyrics on the bottles, from “We are the Champions” to “Lean on Me.” It’s a completely new twist on a well-liked concept, which reinvigorates the audience and brand.
New Concepts and Products Reduce Burnout
Geico is one of the largest ad buyers in the country, with commercials airing at all hours of the day on all channels. To prevent burnout, the brand launches new commercials every few weeks that play around a common theme or tagline. It’s okay to get annoyed by the screaming pig, because Geico’s going to replace it with something better anyway.
Some companies are perfectly suited for new product launches. Restaurants change their menus to add seasonal items, and retailers rotate clothing for the weather. If you can’t change your product, consider changing your packaging or ads seasonally to keep people interested in what you offer.
Learn from Your Audience by Innovating
Oreo is the best-selling cookie in America, but that doesn’t mean it should coast on its success. Recently, the company has been launching new flavors almost every month, from Caramel Apple to Banana Split. Some were quickly pulled from the shelves (one blogger compared Pumpkin Spice Oreos to eating a Glade Plugin) while others developed a cult following. The only way Oreo would know what worked and what didn’t was by testing and innovating. Most importantly: Oreo wasn’t afraid to fail.
Think in the long term as you start to look at your product updates and packaging changes. What happens when your customers love your new products and want to see what’s next? Smart companies keep a quarterly budget for branding and product development so they can keep wowing their existing customers while dazzling new ones.
Let us know when you are ready to bring your craziest ideas to life.