Yo Quiero Taco Bell

Summary

• I learned that even big brands like Taco Bell can struggle with sales if they don't have a strong brand message.
• Taco Bell's funny slogan was catchy but it didn't build a solid brand image to attract the right customers.
• Competitors with stronger brands and better messaging started taking Taco Bell's customers.
• Taco Bell was often associated with cheap food and negative experiences like stomach issues.
• They decided to take a risk and rebrand by opening upscale Taco Bell Cantina locations.
• They experimented with their menu, refreshed their brand, and revamped their interior design.
• This risk paid off, and Taco Bell saw a 16% growth in the next year.
• The lesson here is that rebranding and taking risks can lead to significant growth if done thoughtfully.

Video

How To Take Action

I would suggest implementing a clear and strong brand message. Make sure your brand communicates what you stand for and who your ideal customer is. This doesn't need to cost a lot of money but requires thoughtful consideration about your brand identity.

A good way of doing this is by evaluating your current marketing materials and messages. Ask yourself, "Do they convey the right image and attract the right people?" If not, tweak them to better reflect your values and appeal to your target audience.

Another action point is to experiment with your offerings. This could be new products, services, or even tweaking existing ones. Taco Bell did this with their menu, and it paid off. You don’t need to change everything at once—a few thoughtful changes can make a big difference.

Refreshing your brand doesn't always mean spending a lot. Think about simple updates such as a new logo, colors, or tagline that resonate better with your audience. Small visual changes can significantly influence perceptions.

Consider the customer experience you are providing. Taco Bell revamped their interior design. For you, it might mean improving your website, store layout, or even better customer service. Simple improvements can make your brand feel more cohesive and appealing.

Lastly, take calculated risks. Taco Bell's upscale locations were a gamble but thinking outside the box can set you apart from competitors. Start with small risks to see what works and then scale up.

These steps are low-cost and high-value and will help you achieve significant growth by aligning your brand more closely with your target audience's expectations and needs.

Full Transcript

y Taco Bell so Taco Bell actually started plummeting in sales what they realized is that their slogan was amusing and it was funny and it got people's interest but after a while the cheap Mexican fast food chain realized that they were declining because they didn't have a strong brand that was attracting the audience they needed competitors popped up who had stronger brands with better messaging AKA better associations for the audience they were both fighting for the difference was that Taco Bell was not catering to Showcase upscale Mexican food times you might think of Taco Bell you might think of like diarrhea in the bathroom but what they did is that they actually took a risk in opening upscale Taco Bell Cantina locations so they did menu experiments refreshed their branding revamped their interior design the next year they grew by 16% you get Taco Bell