Case Study
LensCrafters
Brand Repositioning & Innovation
Challenge
LensCrafters traffic and performance had declined for 10 years. Like other mass and specialty retail brands, the company faced diminished traffic, and consumers shifting to ecommerce alternatives.
Opportunity
- Define a new value proposition that could achieve product market fit
- Reposition the company around new consumer priorities
- Align corporate and field teams around a new focus
- Communicate in a clear and compelling way the new value proposition to consumers
- Drive transformative results
Issues
- Brand equity was weak and the customer value proposition unclear. No one knew what the brand stood for.
- Despite high awareness, the brand lacked differentiation from competitive retailers
- The company could no longer deliver on its core brand proposition “glasses in about an hour” due to changes in lens materials and technology needed to produce it. This was the brand value proposition for 30 years.
- Customer satisfaction, retention and value perception were low. Most customers couldn’t remember where they bought their last pair of glasses.
- Dependent on deep promotions. This further weakened equity and decreased profitability.
- Competition had significantly outpaced the brand in media and opening new stores
- Branding was inconsistent across stores and marketing
- Marketing spend was inefficient and copy ineffective
- Stores were outdated and out of line with a premium brand. The average store was 15-20 years old
Actions
- Partnered with marketing research, data analysis, strategy and store teams to uncover key drivers, consumer insights, and brand opportunities
- Shaped brand strategy, insights, and positioning
- Tested brand positioning and new service concepts
- Aligned leadership and internal stakeholders to priorities and plans
- Led holistic marketing campaign
- Partnered with executive leadership, global partners, and field to execute with excellence
- Led internal and agency partners in the development of a marketing modeling predictive tool to improve efficiency of spend and optimize results
Results
- Reversed 10-year declines on $2B brand
- Facilitated unparalleled growth for 3 consecutive years in:
- Sales Traffic
- Retention
- NPS
- MROI (+15%)
- Profit growth despite flat marketing budget and increasing competitive investment