| Developers Diversified Realty - Isla Gift Card
2009 REBRAND 100 Winners > notable
Industry/Sector: Retail Stores/Property Development and Financial Services
Enterprise Rebrand
Country Base: USA - Puerto Rico
Below: Before Images, Rebrand Images, Summary
Summary:
Industry Setting/Challenge - In 2005, Developers Diversified Realty assumed management of 15 shopping centers throughout Puerto Rico, each with its own marketing and brand. With the establishment of a gift card program, the company saw an opportunity to unify the centers under one brand. Initial gift card efforts failed with low awareness and sales.
Strategy - The company turned to Cohn Marketing for a rebrand initiative. With an understanding of the Puerto Rican culture, Cohn Marketing's hypothesis was confirmed. The gift card was perceived as cash, an insulting gift in Latin culture. A new brand was designed for the card, reflecting Puerto Rican culture. By shifting the message from the “gift of convenience” to the “gift of choice,” sales soared. Moreover, the Centros Isla brand of the 15 centers became the Puerto Rican way to shop with the positioning statement, “Esta es mi Isla. Esta es mi Regalo.” (This is my Island, This is my Gift.)
Result - Total gift card sales from September 2007 to June 2008 were up 171 percent from the previous year. Increased efficiencies were realized through consolidating media buying PR efforts. Consumer awareness grew with 9 million+ media impressions and $500,000+ in advertising value including credibility.
Credits:
Client: Developers Diversified Realty - www.ddr.com
Executive Vice President of Property Management: John S. Kokinchak
Executive Vice President of Marketing and Corporate Communications: Scott Schroeder
Vice President Property Management - Puerto Rico: F. Xavier González
Regional Marketing Director - Puerto Rico: Martha Hermilla
Brand Strategists/Designers: Cohn Marketing - www.cohnmarketing.com
CEO and Chief Brand Strategist: Jeffrey A. Cohn
Director, Multicultural Brand Initiatives: Veronica Figoli Fleischer
Director, Brand Design: Melissa Edwards
Director, Public Relations Brand Strategy: Robyn Lybarger
Multicultural Account Coordinator: Alejandra Mesta
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