Tisha Boarman, Group Manager Owned Brand Strategy from Target drew a crowd. Everybody loves Target insights, right? Right.
In 45 minutes we got the cool, inside story on how Target took a hard look at HOME, one of their original owned brands, and decided it was time to rebuild.
Target knew they needed engage in a more authentic way. Consumers are more connected today than ever so they knew they needed to leverage their brands as a connection to guests. With this in mind, they made a commitment to the philosophy of relationships first, transactions second.
Expect more, pay less.
But the question remained, how do we get our owned brands to stand on their own? And further, how can we get the owned brands to actually contribute to the master brand? Wouldn't it be great if Target's owned brands were actually trip drivers?
So, the new goals established included:
Move from "labels" to loved brands.
Engage the guest beyond the product.
Maximize owned brands for the future.
They went to work on HOME because this once flagship brand had been declining in sales. They needed to know why. A comprehensive process began with data mining. They also engaged Target loyalists and got them talking. Core Target team members collaborated in work sessions to generate ideation and then again, loyalists were engaged to provide feedback and insights. The major finding? The brand lacked a point of view. The brand no longer resonated with guests.
When Target spoke with guests during the exploratory research, they learned something very important. When the guest shopped, she wasn't just thinking about products. She's busy and wants her home to be a reflection of her. Her desire is to unlock the home's potential. The HOME brand had not delivered on this.
The brand was rebuilt from the ground up. Brand position and framework informed name ideation generating 8,000 potential names. Once they landed on Threshold, the identity was designed along with a whole new product line.
Again, thinking about relationship first, transaction second, they saw great opportunities for launching the new brand. They now had an opportunity to bring guests and designers together. This was the birth of the Threshold Design Event in select markets.
While social media had done great things for bringing consumers closer to brands, this concept would take engagement to a whole new level. Guests came to Target with drawings, notes, photos, ideas and dreams. Designers conducted workshops first and then offered one-on-one sessions with designers to bring their visions to life.
Huge success. The Threshold brand is now aligned with the guest and delivering on established goals. But the effort doesn't stop there. The questions now focus on scaling the effort and continuing to push the brand. This is just the beginning.
Tisha closed with one of her favorite quotes from Scott Bedbury. "A great brand is a story that is never completely told."
We look forward to future chapters.