What’s in a name? For Trump Hotels, it’s everything.
Brand managers announced they will change the familiar Trump name to Scion for all new projects, which are expected to target millennials.
What’s the brand’s motivation?
Millennials thrive on sharing their every move online. They’re also fond of documenting their travel. What’s the point of staying at a luxury hotel if you can’t Instagram your room’s million-dollar view? Younger consumers, however, might not be interested in tagging the Trump brand.
Democratic presidential nominee Hillary Clinton leads Donald Trump among millennial voters, according to a recent Harvard Poll. The travel site Hipmunk recently announced that Trump Hotel bookings had declined nearly 60 percent in the first half of 2016.
Despite that, execs say they won’t remove the Trump name from existing properties. From a marketing standpoint, Trump Hotels should consider dropping its name altogether. Here’s why:
1. Trump’s brand is diluting.
In the 1980s, Trump was associated with glitz and glamour. Once he began bottling water and selling neckties at Macy’s, his brand hardly stood for anything aspirational. Don’t forget the failure of Trump University or his multiple bankruptcies.
2. Brands must be predictable—Trump isn’t.
It can be difficult to establish loyalty with consumers if a brand is continually changing its course. Trump is unpredictable and often considered volatile. During the 2016 campaign, he’s alienated large portions of the American population as well as audiences abroad. This doesn’t bode well for the future of Trump Hotels.
What does Trump stand for? In order to move forward, his brand managers must make that clear.
3. Trump’s target audience is scattered.
The Washington Post and The Atlantic have run extensive polling profiles of Trump’s political supporters. Reports show that many are statistically lower-income earners without college degrees. According to those reports, his supporters might not be in a position to buy or stay in lavish Trump properties, which doesn’t look promising for expanding that arm of his brand.
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4. His customers are fleeing.
In addition to the faltering bookings at Trump Hotels, many people are seeking to replace the Trump name on established properties.
Residents of Trump Place on Manhattan’s Upper West Side have signed a petition to “Dump the Trump Name,” Bloomberg reports. Employee uniforms bearing Trump’s name are being replaced, as are other branded paraphernalia, including doormats in property lobbies.
In Toronto, Trump Tower is for sale. Trump has no ownership stake in the Toronto hotel-condo hybrid; he licensed his name for a fee. It seems almost comical now that a building would pay to use the Trump name, but it’s surely no joking matter for its developer, Talon International.
A rebranding appears to be a reasonable course of action at this point. What do you think, PR Daily readers?
Kerri-Lynn McAllister is a digital marketer, tech expert and founding team member of RateHub.ca , a financial comparison site in Canada. via)
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