When looking for a resilient brand strategy, look no further than Hershey’s. As the world’s largest chocolate manufacturer, much of its success can be attributed to the company’s adaptable branding.
Hershey’s Dynamic Branding
Hershey’s has been around for over a century, and its dominance over the candy industry isn’t stopping anytime soon. To understand how a business can last so long and keep such a wide range of loyal consumers, brands should first understand their branding journey.
1. The Hershey Company’s Beginnings
Despite what some may think, Hershey’s didn’t start out making chocolate. In fact, Founder Milton S. Hershey founded a milk-based caramel company in New York, which would be the foundation for The Hershey Company.
Hershey noticed that his chocolate-covered sweets were becoming a big hit with consumers. Trusting his instinct, he fully transitioned into the chocolate-making business and sold his caramel company.
2. Product Innovation
Hershey’s proactivity wouldn’t end there. It’s around this time that the company starts to innovate. With condensed milk, Hershey maintained high-quality chocolate with a long-lasting shelf life. This makes it the perfect candy for shops to sell, increasing the company’s consumership.
The next step in their creativity was the Hershey’s Kiss, a staple for the brand to this day. With this bite-sized sweet that became popular with couples, Hershey’s began to expand its products.
It’s also around this time that the company decides to mass produce.
Hershey saw an opportunity to create his long-lasting chocolate treats in mass at a low cost. This decision made chocolate accessible to everyone, making the company a consumer favorite.
Later, the company’s product portfolio would include brands like Reese’s and M&M.
3. Chocolate as a Legacy
One of the major reasons that Hershey’s has done so well with today’s consumers is its diversification.
The company offers more than chocolate to its buyers. It offers memories. Whether it be plant tours or Hershey Park, the company provides a wide range of experiences.
Branding Strategy Tips
Clearly, The Hershey’s Company we know today is not the same company from long ago. That’s because the company has developed an adaptable branding strategy that allows the company to evolve with time.
With Hershey’s as an example of an ever-lasting branding strategy, here are some tips businesses can use to develop their own.
1. Good Quality Means a Good Reputation
Hershey’s believes in producing high-quality chocolates that are accessible to everyone.
From the very beginning, it focused on fresh ingredients and pure ingredients. Some companies sacrifice high quality for shelf life and cheaper production costs. But Hershey’s has proven that products can have the best of both worlds.
Remember that consumers aren’t fooled by flashy packaging and low prices. In the end, good quality products make a good brand reputation.
2. Product Innovation is Key
While Hershey’s reputation is built on its classic milk chocolate bar, the company also knows the importance of being innovative.
Take the Hershey’s Kiss, for example. The small treat is infamous, especially with couples. By being innovative with its candy-making, Hershey’s has successfully catered to a wide range of consumers.
Remember that innovation leads to diversification, which leads to a larger pool of consumers.
3. Telling the Story
A good brand strategy tells a story that evokes emotion, drawing in a target audience and building a connection with them. Hershey’s is a master of this.
Take, for example, Hershey’s plant tours. By allowing consumers behind the scenes, Hershey’s is actively building the narrative of their favorite chocolate bar right in front of their eyes.
Remember that consumers buy brands they feel a connection to. So a business’ brand needs to convey a relatable narrative.
4. Adapting to the Times
As previously mentioned, Hershey’s has been around for over a century. Brands that last this long aren’t sticking to the methods of marketing that they started with.
Refusing to evolve with time can leave a business stuck in the past. As the world becomes more digitized, long-lasting companies like Hershey’s understand that being ahead of trends is essential.
Times are constantly changing, and so is the consumer market. Brands should recognize that evolving with time is necessary for success or risk falling behind the competition.
Creating a Brand Strategy
Sometimes all a business needs is a perfected brand strategy. Web Content Development offers a full spectrum of services for brand management, and our experts are ready to help you showcase the best of your brand.