Everyone loves a good comeback story. Brands can be on fire, but a good marketing strategy for brands are ones that will last through the ever changing and fading trends. Many brands get their 5 seconds of fame and then are easily replaced and forgotten. But there are some that had strong marketers behind the brand and were able to make a brilliant and successful comeback, and these are their stories.
Converse started in 1917 with their basketball sneaker, the All Star. It became popular because it was lightweight and had an ankle patch. It got is name Chuck Taylor in 1932 when they signed the basketball star Charles Hollis to the market.
The increased in popularity and were at its highest in sales in 1946. Around 1980 other competitions such as Nike, Reebok, and Adidas became popular for athletic shoes. By the time 1998 came along, it only had 2.3% of the market share.
In 2003, Nike bought Converse and brought them back as ‘old school’. Rockers and rebellions embraced the style. Now you can still see them on the streets mixed with any range of style.
If it weren’t for the young generation of hipsters, PBR would have been long forgotten. Pabst Blue Ribbon was created in the 19th century and hit its rock bottom around 2001 when the company could not afford any more advertising.
When PBR was at their lowest, the founder and managing partner, Ted Wright, went and sought out the few that were still drinking it. Those few that were drinking it were drinking it because there was no advertising for it. The reason there was no advertising was because the company could not afford it. Having no advertising was a blessing in disguise. They were able to bring back the brand of PBR by sponsoring events in Pittsburgh and Portland such as bike messenger races, art gallery openings and skating parties (This is actually true). This strategy helped bring the brand into a billon-dollar industry.
Starbucks is just about on every corner now so it was hard to believe they were ever in a financial crisis. Starbucks started in the 2000s. In 2008 there was a huge financial collapse and Starbucks stock price was dangerously decreasing. Folks were only purchasing the necessities, and fancy coffee was not a necessity and over 900 stores had to close.
So how was Starbucks able to make a comeback? Well, by creating the largest marketing campaign in Starbucks history by teaming up with the ad agency BBDO. This campaign focused on the quality of their coffee and brought the Starbucks brand back to life. In 2014, Starbucks reported making $16 billion in annual revenue.
There are many more brands such as Lego and Old Spice that were able to bring their brand back from the dead. All of these companies had strong marketers to create a campaign.