The Fallacy of Maintaining Relevancy

“Why are my brands going to be relevant to the next generation of consumers?”

This question from Kraft Heinz CEO Steve Cahillane rings true for incumbent brands seeing sales eroded from both sides: lower priced private label and emerging brands built around more specific consumer needs.

The danger is not always a lack of urgency. It is applying urgency to the wrong problems.

New flavors, trend driven products, collaborations and campaigns can create activity. But if the underlying brand has lost its relevance, they rarely create lasting momentum.

Relevance does not mean chasing what is new or trying to appear younger.It starts with fundamentally understanding who your consumer is today and who they are becoming. What mindsets, needs, wants and aspirations do they share? Where are they changing? What role can your brand credibly play in their lives?

Then you apply urgency to solving that larger problem and position the brand around the answer.

A new line extension may create another product to sell. It cannot substitute for a renewed reason to choose the brand.