A brand like New Balance needs no introduction. In this month’s ‘Let it unfold spotlight’, we are thrilled to have the opportunity to share and uncover the story behind the brand and bring you some valuable advice straight from Gerald Woodman, general manager at New Balance.
Unfold: Describe in one sentence what you do.
New Balance: We move people: Kinetically, emotionally and spiritually
U: How long has your company been in business? Tell us a bit about your company, its mission, goals.
NB: Since 1906. At New Balance, our job is to aid athletes in their pursuit of excellence, whether that means helping professional athletes set records and win medals, or propelling everyday athletes to achieve a new PR, run their first 5K or just to live a more healthy and active lifestyle.
Our goal is to help you achieve yours.
U: What’s your superpower?
NB: We are privately held which means that we can take a longer term POV on all issues. We do things differently because we are fiercely independent.
U: What is your target market?
NB: We cover most demographics from infants to shoes for older people. We are both fashion and function. Our bullseye is a 25 year old active female.
U: What influences your industry?
NB: Fashion has a large influence factor as most people do not wear shoes for the purpose in which they are created for. Function is followed by Fashion.
U: How did you know your visual identity was the right fit for your company?
NB: It demonstrates movement and is a clear expression of our brand.
U: Why is brand important for your company, and in what ways is it executed?
NB: Brand is everything. We are more than just foot covering or apparel. It’s about evoking an image of success and insight that acts as a self-expressive benefit for the consumer
U: How has your brand evolved / adapted in time?
NB: It is always changing because our consumer is always changing and evolving. We must move dynamically with the consumer and anticipate their future needs and desires
U: What are some of the biggest mistakes you see new companies make in search for their identity? Can you offer any tips you have learned for new companies to consider when creating their identity?
NB: Most brands don’t understand their brand truth; what they stand for. Therefore, they end up going in the wrong direction and not connecting with their desired consumer target. You need to know what you stand for before you can ask people to want to associate with you.
Let’s challenge the conventions of the industry. – JIM AND ANNE DAVIS