Sing it with me… 🎶 The best part of waking up is Folgers in your cup. 🎶
I’m certain I’m not the only one who remembers opening the can of Folgers. And breathing in that first whiff of coffee? Ahhh, that was a heavenly smell.
Folgers was indeed the first coffee I drank. Black. (No cream or sugar allowed at our house!)
But who drinks Folgers anymore?
I drink Mudd House, a fancy blend of Sumatra and French Roast with a “rich dark chocolate, full body, earthy coffee – with a smooth, smokey, bittersweet finish.” (From Mudd Works Roastery – a stop on my morning walk.)
I’m not the only one who left their coffee-drinking roots in favor of drive through, fancy-pants, traditional, six-ounce cappuccino every afternoon.
Folgers knew their market share had been dropping for a while and the brand was losing relevance. A bit of soul searching (meaning marketing research) revealed that most people thought Folgers was, “…what my parents drank. It’s what my grandma drank.”
Their objective? Appeal to Millennials and Gen Z.
And their brand reboot worked.
“Folgers is gaining ground with those age groups faster than competitors. Every year, Folgers sells over a billion dollars’ worth of ground coffee. And right now, in the moment of high inflation, it’s drawing shoppers away from pricier brands.” (Source: NPR.org)
As you’re thinking through your 2023 strategic plan, should you reboot your brand?
At this year’s ASPPA Annual I offered a two-part TPA Growth Summit workshop: Recalibrate, Rewire and Reboot Your Brand. My question for the attendees? Answer the following questions:
- Has your marketplace changed?
- Have your buyers changed?
- Have you changed?
Be honest. If you haven’t looked at your brand – and your marketing – efforts for three or more years. You can absolutely answer: Yes. Yes. Yes.
Thinking through the Folgers efforts last January; I’d say they answered the same way.