The blue box has never been hotter. Sales and stock prices are at record highs and Tiffany appears to be soaring, even with some of the highest price points in the retail jewelry sector. The reason for this performance is that Tiffany is thinking outside its box and embracing new customers, lifestyles, and preferences with innovative products and open-armed service. Long regarded as a stodgy, conservative brand for those consumers who step right off a print advertisement, Tiffany has recognized that brands change at the speed of culture, and it was time for a different course. After 178 years in business, the company is recognizing that marriages are different as are household compositions and it’s paying off for them.
One excellent example of this is Tiffany’s first advertising campaign targeting same-sex couples. A series of print ads is being introduced not only featuring these couples, but also showing traditional marriages which represent more than husband and wife. Today, there are kids and other family members involved and new messages and products are hitting that sweet spot.
We talk about “Heartbeat Branding” at Springboard. Tiffany is doing just that. They have found the “sweeter spot” at the intersection of brand benefits, consumer needs, and cultural influences. Their brand attributes include excellence and elegance. Their consumers want excitement and commitment. Cultural influences include new marriages, household composition and a stronger economy. Mix it all together and they’ve hit the “Heartbeat” of their brand.
Branding today is about heartbeat, not chest beat. Tiffany is one example of making your brand super relevant. Brands that are looking for their heartbeat need to think outside their own box and more into the lifestyle, needs, and passions of their audience. That’s what Tiffany is doing and what heartbeat branding is all about.