In today’s rapidly evolving landscape, we face unprecedented technological and social change. Whether it’s Web3, the rise of AI, or simply the ongoing transformation of the digital age, the way we shop and communicate is being redefined.
This shift has birthed a wave of disruptive startups, introducing innovative products and services. Meanwhile, legacy brands—those slow to adapt—often find themselves at a disadvantage. While these brands have established their place in the market, their reluctance to evolve can become a significant hurdle over time.
As a former executive at Carhartt, I’ve witnessed how legacy brands can successfully navigate the digital terrain. I’ve applied these lessons to my role at RealTruck, steering our brand growth in both e-commerce and brick-and-mortar spaces.
The Challenge for Legacy Brands
Legacy brands often struggle to embrace change. Consider the fall of Sears, Kodak, and Toys “R” Us—once retail giants now relegated to history. These brands highlight a critical truth: adaptability is key.
Legacy brands are at a unique disadvantage, facing challenges such as:
- Bureaucratic Structures: Large companies may be bogged down by shareholders and a multitude of stakeholders, making it difficult to pivot from traditional strategies.
- Reliance on Traditional Marketing: Many legacy brands still lean on outdated marketing methods like radio, print, and TV, limiting their reach.
- Regulatory Hurdles: Compliance with data protection and privacy laws can be daunting, especially for brands competing on a global scale.
Core Tenets of Brand Marketing in the Digital Age
For legacy brands to thrive, they must master four essential tenets of digital marketing:
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Personalization: Consumers crave tailored experiences. Mass marketing simply doesn’t cut it anymore. Personalization can range from targeted email campaigns to product customisation options.
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Multi-Channel Integration: Brands need to coordinate efforts across all marketing channels, from social media to SEO, ensuring a cohesive strategy.
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Uniform Customer Experiences: Whether shopping online or in-store, customers expect seamless interactions. Brands must ensure consistency across all touchpoints.
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Ethics and Social Values: Today’s consumers prefer brands that align with their values. Authenticity and transparency are non-negotiable.
Strategies for Legacy Brands to Thrive
Navigating the digital landscape isn’t just about adopting new technologies. Here are seven strategies that I’ve found crucial for success:
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Prioritise Consumers: It sounds basic, but many legacy brands fail to update their understanding of their audience. Take a cue from Yeti, which successfully rebranded through community-focused marketing.
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Cultivate a Positive Company Culture: A brand’s internal culture can significantly influence its external perception. Companies like Google attract talent and foster loyalty by promoting an enjoyable workplace.
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Track Relevant Metrics: Focus on metrics that matter, like customer familiarity, purchase intent, and sentiment indicators like Net Promoter Score.
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Invest in Strategic Partnerships: Collaborations can open doors to new audiences while reducing risk. They allow brands to fill gaps in expertise and resources.
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Embrace Storytelling: Consumers are tired of cliché ads. Authentic, relatable stories that entertain and inspire can significantly impact brand loyalty. This approach has been central to my work since my time at Nike.
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Evolve the Brand When Necessary: Repositioning your brand can be risky but essential for staying relevant. At RealTruck, we are transitioning from a product-focused retailer to a lifestyle brand that resonates with truck enthusiasts.
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Embrace Change While Staying True to Your Roots: Adapting to the digital world doesn’t mean losing your identity. It means meeting consumers where they are—whether that’s on social media, mobile apps, or other digital platforms.
Despite their vast resources, many legacy brands have stumbled in adapting to a changing marketplace. However, with a consumer-first mindset and a focus on unique value propositions, brands can navigate this landscape effectively. Successful examples like IBM, Coca-Cola, Nike, and Carhartt demonstrate that legacy brands can not only survive but thrive over the long term.
