Hey, Doc, we better back up.
We can see impressive comebacks from lifestyle, clothing, consumer electronics. Popular brands from 1980’s have everything in place: awareness, positive image and media background.
Take a look at Apple, Lego or Marvel. All three companies experienced a major decline in sales or were close to bankruptcy during 1990’s or the early 2000’s. They all have something in common to succeed today and engage Millennials:
- Solid cultural footprint
- Catchy visual identity
- Kids in 80’s and 90’s saw and used these products
When company suffers from low revenues and management mistakes, it loses internal stakeholders. When company recovers, external stakeholders are retained.
Let’s travel to the year of 2000 and ask teenagers if they remember Polaroid photos, Marvel comics, Nintendo, and Old Spice. Answer would be “Yes”. And they may still wear Keds or Dr. Martnes. If you are excited and wait for a second season of “Stranger Things” — set in 1984 — pay attention and look for specific products on the screen.
Story To Learn From – Polaroid
Comparison of modern and vintage instant cameras
Taking everything into account, Polaroid utilized very obvious strategy:
- Keep your brand concept and identity – colors and logo
2. Learn from successful products – action cameras by Polaroid meet GoPro’s idea.
3. Stay digital. Polaroid offers miniprinters for your Instagram/Snapchat photos.
The New DeLorean
If you visit their new website, there are no concept designs or pre-orders.The stainless steel DeLorean will cost you $60-$100K, but the buzz is real. Take a look at the protaginist in the video above – a perfect Millennial interpretation. Do you remember how many times you wathced Back to the Future?