Today, I am having a hot dog (OK, a few of them) at Coney Island in downtown OKC. Word on the street is that it’s their last day in business. You could find 100,000 people in town who say it’s the best dog they’ve ever eaten.
Last month, my friend from OKC, who now lives in Europe was in town. He likes to ship back a few things that he can’t buy in the Alps, one being Durkee Sauce. IYKYK. He went to a few stores to purchase it, then decided to search online. Recently discontinued.
Sears. Kmart. [Seattle SuperSonics;)]. It’s been a minute, but even Kodak went dark (OK, hanging on by a toenail, but not in the same business).
How can there be no value in brands that have thrived for decades? OK, every circumstance is different, yada yada. But brands don’t just shut down when they have value. Not hot dog stands, not sandwich sauce and certainly not Sears, the original Amazon!
It’s odd that some brands just want to ride it out, while others adapt and thrive. That is the point of marketing today and every day since I entered the industry. Adapt and thrive. Sometimes, just adapt and survive.
It’s different for every brand, of course. Durkee Sauce needed a one-time marketing infusion. Coney Island needed to sell while it could. Sears needed to move online sooner. You get the idea. Adapt to the environment, and you can remain relevant. Don’t, and you’re doomed. But be clear: you don’t create the environment. It is determined by the consumer: what they want, when they want it and how they want to go about getting it.
My company is a premier digital marketing firm. But we could just as well have been a premier direct mail firm, a premier sandwich board firm (look it up) or a premier skywriting firm. It doesn’t matter how we want to market; it matters how the consumer wants to shop and buy. That’s where we need to be. That’s where your brand needs to be. It’s what they want and need, not what you’re comfortable with.
All of the brands in this blog had a chance to survive by adapting in one way or another. At the very least, they could have cashed out. Your brand is likely at some sort of crossroads today. Your decision is not whether or not you invest in marketing in general. Rather, it is how you are adapting your marketing to your customer. These are crucial times: Adapt or miss the photo finish [cry watching the banner being raised], get out of the way.
Now, Coney Island may not be closing after all. Are they really closing, or are they adapting?
