Critically analyze Sperry's “Odysseys Await” campaign
Sperry is an iconic American shoe brand which deals in boat shoes and to promote the products at the market place, the company organized a campaign named “Odysseys Await” which targeted millennials who prefer to do adventure (Koiso-Kanttila, 2004). The campaign was organized with Minneapolis-based advertising agency in which the first phase of the campaign focused on across print, digital and social media. The campaign was designed for the purpose of appealing the attention of fearless people. Creative thoughts were included in the promotional strategy in which the stories have been taken from the millennials regarding their experience about boat shoes.
Sperry has also developed a new log so that the promotional campaign can be upgraded. The second phase of the campaign included experience of ambassadors regarding the shoes of Sperry; hence for that purpose, 80 ambassadors were decided to be selected (Rowley, 2008). The campaign has also promoted the experience of ambassadors through social media tools such as Facebook and Twitter and the best was also announced gift cards from Sperry. Several stores have been covered from the ambassadors to showcase their experience regarding boat shoes during adventurous trips. The subsequent campaign was connected to the sea which depicts the iconic element of the brand.
Explain the key factors involved in targeting millennials
From the case study it has been observed that, Sperry targeted millennials because the company aimed to highlight adventure component and for that purpose, Sperry invited stories of people in different forms. However, some people felt that the campaign has targeted only those youths who prefer the boating adventures. While targeting millennials, the company was not sure regarding the involvement of youths in the campaign (Resnik and Stern, 1977). Though, Sperry had put lots of efforts in collecting stories from the people and ambassadors both; but the company was unsure if youths will believe in all the testimonials of the ambassadors. Sperry targeted people on the basis of demographics in which Gen X (born between 1965 and 1980) and millennials (born between 1980 and 2000) were selected. This particular segment has been selected because customers from US are more comfortable with the latest and trendy products.
The source of internet has been selected to promote the brand because US customers prefer social media and technological aspects. Millennials have also been selected because they have the ability to pay for those products as median income was US$35,300 (Lieb, 2011). Sperry decided to target millennials because the company felt that the subsequent branding strategy would persuade this particular segment. Further, the company also decided to appeal millennials because it wanted to connect the millennials so that the synergetic effect of mixing rewards with adventure can be showed. The business also aimed to engage more customers for the purpose of enhancing the market share. Further, UK, France and Italy are the other segments where Sperry wants to enter and purchasing power of those customers are high; therefore millennials have been selected.
Discuss how a successful brand repositioning strategy can be formulated
The campaign “Odysseys Await” was adventure oriented and it was prominently promoted with the social media. In order to position the brand at the market place, it is essential for the entity to change customer segment so that focus can be made towards all the segments (Lamb, Shipp and Moncrief, 1995). Currently, Sperry has given the opportunity to the youths to get involved with the company so that new places can be visited and adventurous trips can be made. Further, Sperry also asked the youngsters to document their experience so that Sperry can showcase this in the promotional campaign. As per the brand repositioning strategy, Sperry wants to attract millennials so that effectiveness of the brand can be promoted in the market place. The company aimed to emphasize on acquired better market share; therefore ambassadors and millennials were the chief target of the brand (Koiso-Kanttila, 2004).
Though the strategy focused on millennials; however it was not sure that even after watching, will they actually think of getting the shoe pair. Thus, the brand should not entirely rely on millennials because they might get attracted towards another brand. In order to reposition the brand in the existing market place, new and innovative attribute as well as utility of the brand can be promoted. This will also assist the customers to get products from Sperry. Further, the company should emphasize on pricing element because pricing of products is one such dimension which helps the company to acquire attention of the customers (HennigThurau and Klee, 1997). Moreover, the campaign should be promoted on different market places so that all types of customer can be targeted from the diverse segment. At the same time, the level of competition should be identified so that Sperry can ascertain the possibilities of long term growth and success.
Explain how a successful content marketing strategy can be formulated
Sperry has been promoting boat shoes through content marketing where the experience and opinion of millennials and ambassadors have been recorded and showed to public. Further, the subsequent strategy of the brand shows that Sperry emphasizes on customer experience and on the basis of that experience, they promote the products to other market segments. In order to develop adequate content marketing strategy, Sperry should include only relevant, authentic and factual information to persuade the customers (Churchill, 1979). The content marketing strategy must be customer oriented so that it can drive customers to get boat shoes. At the same time, creativity should be there in the promotional messages so that customer's mindset can be diverted. Further, to make the strategy highly effectual, Sperry should make changes in the content where stories and experience of customers should be included not in the form of brand promotion but in the form of showing the utility of the product. Social media and other effectual tools can be used to promote the brand in numerous market places (Angelmar and Stern, 1978). Thus, Sperry should consider these aspects while formulating content marketing strategy for b