When working with a luxury real estate company or an agent, we work as a team by thoroughly researching the marketplace. One of these involves reviewing statistics, with a focus on strengths and what is working as well as what is not. This give all of us the 360 degree perspective, and becomes the basis coming up for the perfect strategy and brand or re/brand.
Starting January 2019, Dunkin Donuts will drop the "Donuts" part of their name. This decision was made based on their sale statistics. The company has found that 60% of their sales have been on beverages, in particular their coffee, which many people are very fond of.
They are also doing well with their other beverages such as tea, and they noticed that their customers appreciate their great speedy "food to go services" which includes donuts, but is not limited to them as the former name implies. Their future plans include opening another 1000 stores throughout the US by 2020. Re branding of an established brand focuses on developing a new or expanded identity, which will differentiate them in the minds of their customers.
For instance, one of our clients who had been successful at selling rehabs realized through extensive review of his marketplace and statistics, that his focus should be solely on that segment of the marketplace. Some knew that he was a specialist, but not enough realized his talent. Tweaking the name, changed the perception and insured that he is working at what he loves best in real estate.
Is it time for you to say bye-bye donuts?