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MN Twins Give a Lesson on Refreshing Your Brand

According to an article titled “Target Field hitting an economic bull’s-eye” by Curt Brown in yesterday’s Star Tribune, the area surrounding the new Twin’s stadium in Minneapolis is booming with crowds of people – who are all bringing their wallets along with them. This new frenzy of fans is spending both time and money at other venues before and after the game, which has given quite a boost to business in the surrounding area.
The downtown businesses near the stadium are reporting record sales numbers, especially bars and restaurants such as the Loon Café. All the hype and publicity of the new stadium has brought a much larger number fans and visitors than Minneapolis was used to seeing at the Metrodome for baseball games. On top of this, Brown reports that this economic elevation in the area “won’t necessarily be short-lived, though the team’s success will have a bearing on that.”
It’s a little crazy to think that the same team, in the same city, with the same fans can have such a dramatic effect all by making one update. So what about bringing this to a smaller scale and looking from a small business perspective? Can the same company, with the same services, and the same staff bring about an economic boost for the business just by refreshing their location, brand or message?
According to Cindy Leines, Founder & Strategist at C.E.L., each company can require a different strategy to encourage more publicity and growth. “In some cases, it might require renewing a company’s location, brand and message, while others might only need to renovate one aspect to reap significant economic rewards,” said Leines. “At the core, you’re not changing what you offer, but tweaking one aspect or significant message of how you deliver your service.”
So what have you done recently that impacted your bottom line? Do you have any advice for businesses that are trying to make some updates?

Published on: July 14, 2010