By Neil Coombes, senior account manager, UKSV
There comes a point when every established product reaches its peak, plateaus out, and starts losing customer interest resulting in falling profits. There are many reasons why this happens: increased competition, changes in popular culture and tastes, companies undergoing a major change, or the product’s lifespan reaches a natural end. This is where brand revitalisation can help to bring the product back in the market.
One of the most effective ways of revitalising a brand is with a high-impact live event. This needs to be part of a wider marketing campaign, but the beauty of a live event is the control it gives you.
With a ‘soft’ launch, such as a stand-alone video or social media advert, your message can be open to interpretation. It might not reach the people you want to influence, and those that it does reach might only absorb the information they feel is relevant to them. With a ‘hard’ launch – a live event – you can bring together a target audience, deliver a consistent message to a core group of people and create a memorable occasion that reflects the brand image that you want to project and stays with your audience long after the event has finished.
A key factor which is essential to the impact of your brand revitalisation event is the attendees. In order to identify your attendees, you must first consider the aim of your event. Press and media contacts are essential if you want to gain more publicity for your product. If you want to engage with an audience who could become advocates of your product, you may want to invite key people in your industry and influential celebrities. To generate direct sales on the evening, opening up the event to loyal customers will significantly help boost sales of the product whilst ensuring that these dedicated customers feel like they are a valued part of your brand.
Technology is a must-have at a brand revitalisation event and enables you to get your message across in diverse ways that can capture the attention of delegates. Creative use of live-action or animated video can highlight the key takeaways from your revitalised brand. Involve your audience – encourage them to spread your new message across social media with a unique hashtag.
The value of gathering feedback about a brand revitalisation should not be overlooked. This is vital for future marketing, but also understanding the effectiveness of your revitalisation as a whole. To ensure a high number of responses, UKSV recommend distributing post-event surveys to attendees immediately after the event so it is still at the forefront of their mind.
A live event, delivered with creativity and imagination, is a great way to revitalise your brand and return it, very much alive and kicking, back into the marketplace. Stick to a professional delivery, key messages and a well-researched audience; and your brand revitalisation event will fulfil its maximum potential.