Walmart, formed in the year 1962, has come a long way since then. Today, the company has more than 11,500 stores and is also growing in the digital sphere. Sam Walton, the man who founded Walmart, had a clear vision in mind and wanted to help people save money for a better living.
Being one of the top multinational companies, Walmart is very specific in their marketing approach and ensures it conveys messages very clearly to its customers. 'Save money, live better,' the present slogan of Walmart, speaks about their vision and makes the message loud and clear. But how can a slogan help in promoting a brand? Let's take a look.
The Significance of Slogans in Branding
Slogans have equal importance and impact on brand identity. It plays a crucial role in brand positioning and most of the time, goes beyond simple brand positioning. A slogan is something that sticks to our minds and helps us relate to the brand. In simple words, it also facilitates brand recognition. In fact, the best ones speak to investors, employees, and other stakeholders together.
Walmart’s slogan has all the characteristics of a strong slogan and sticks in our minds. For someone who is new to the company will be able to relate to it once they look at the slogan. In the following sections, we will explore the impact of Walmart’s slogan on branding and how it evolved over the years.
History of Walmart’s Slogan
Walmart, the brainchild of Sam Walton, started its journey in the year 1962. Despite the brand's success, Walmart has managed to stick to its roots and follow its founder's vision. The company has made sure that they keep up with the changes and has always kept themselves updated. Before digging deep into an examination of Walmart’s slogan, let’s take a look at its history:
- 1962-1988: Always low prices. Always.
- 1988-1994: Always the low pric Always.
- 1994-1996: Always low prices. Always Walmart.
- 1996-1999: Better everyday low prices! Always.
- 1999-2007: Always low prices. Always.
- 2007-present: Save Money. Live Better.
Each of the changes defines a new branding update. But the one in 1994 was forced as there was a complaint from the National Advertising Review Board. Despite all the obstacles, the company remained at the top and has been able to attract customers with its amazing slogans.
Save Money. Live Better: The Man behind the Slogan
While other companies looked for creative minds to create a slogan that defines them, Walmart created the 2007 slogan inspired by a speech by Sam Walton. Sam Walton, in his Presidential Medal acceptance speech, in 1992, said:
“If we can, we'll lower the cost of living for everyone, not just in America, but we'll give the world an opportunity to see what it's like to save and have a better lifestyle and life…a better life for all.”
- Sam Walton, Presidential Medal Acceptance Speech, 1992
Walmart’s slogan, ‘Save Money, Live Better’is completely inspired by the speech above and reflects the company’s goal to give customers the opportunity to buy daily items at the best prices for a better life.
The Changes in Marketing Campaigns
The US retail giant took a bold step with a change in its slogan after almost 20 years. Companies look forward to changes when they see a dip in sales and profits. Walmart’s slogan is a result of a dip in sales. The slogan first appeared in television ads, followed by print media replacing the previous slogan, “Always low prices!”
The ad focused on back-to-school actors talking about how the company helped them save money when the gasoline prices skyrocketed. The ad replaced its previous smiley face character's venture of slashing prices as it moved from one store to another.
The company planned to run ads on Wednesdays focusing on the fact that saving money on little things can help families have a better life ahead. The company took the necessary initiatives to ensure that the slogan reaches out to the masses and conveys a clear message.
The Impact of Walmart’s Slogan
Walmart looked to revive its sales with the new slogan and ads. The company offered almost 50% discounts on more than 16,000 items, followed by its back-to-school ad campaign. As a result, the company recorded a 3.1% rise in August sales, the highest since March at the US stores.
Further, the company’s shares were up by 2 cents in late morning New York Stock Exchange trading. Research also found that the new ad campaigns resulted in $2,500 in savings for familiesevery year, 7.3% higher than that of 2004.
Walmart’s slogan has successfully connected with customers emotionally and is one of the reasons the company say a surge in profits and sales. Financial security is one of the major concerns among all, and the slogan talks about how saving money can lead to a better life. The slogan has helped in building customer loyalty and trust in the brand.
Walmart has always been at the top in the retail industry. However, there were some years when the company failed to live up to the expectations and was unable to maintain its position. The slogan reinstated Walmart back at the top of the retail industry as a price leader. Walmart made it very clear with the point of saving money that it commits to offering products at low prices to all its customers.
In addition to attracting price-sensitive customers, the slogan also helped Walmart build a positive image. The slogan is not centred on making profits but also highlights the company's vision of providing an opportunity for all its customers to have a better life.
Keeping up with the changing mindset of customers, Walmart made sure that it had the perfect slogan to attract customers and also pose as a socially responsible company. Walmart’s slogan has successfully helped to change customers' perspectives towards the company.
Slogans have always helped create a connection with the brand, and Walmart's slogan is a perfect example of the same. Walmart has been successful in using its slogan perfectly and improving its position in the market.
Exploring Some Successful Slogans of Other Brands
Walmart’s slogan is one of the examples of how a slogan can help build a brand and connect with customers. There are various other companies that have been successful in creating slogans to improve their position and maximize their profits. Here’s a look:
‘Just Do It’ by Nike
One of the most popular slogans, Nike’s ‘Just Do It’, is almost synonymous with the brand and clearly reflects its vision of pushing yourself to achieve your goals, resonating with its target market comprising of athletes and fitness enthusiasts.
‘Think Different’ by Apple
Launched in 1997, the slogan promotes innovation and creativity. The slogan has helped Apple position itself as a brand that gives importance to individuality and motivates its customers to think differently than others.
‘Taste the feeling’ by Coca-Cola
Coca-Cola launched its rebranding campaign with the slogan ‘Taste the Feeling’ in 2016. The slogan focuses on the little things and asks its customers to enjoy the basic things in life.
‘I’m lovin’ it’ by McDonald’s
The slogan of McDonald's is pretty famous, and all of us can relate to it. The company uses the slogan to share what customers will experience when they taste a McDonald's burger.
‘America runs on Dunkin’ by Dunkin’ Donuts
Doughnuts occupy a special position for Americans and are one of the things that everyone takes on the go. Dunkin' Donuts highlights the importance of doughnuts and how they are the best in the industry.
‘The Complete Man’ by Raymond
Raymond has positioned itself as a brand that provides quality clothing and how that makes a complete man. The slogan is one of the oldest and has been synonymous with Raymond since the 1970s.
‘It's finger-licking good!’ by KFC
KFC uses the slogan to highlight how the company promises great taste and clearly states their dedication to food. A competitor of McDonald’s, KFC has made sure to live up to the expectations and promise a good experience to all visiting their outlets or ordering food online.
The impact of slogans is clear, and companies invest a lot in creating slogans that can address the mass. Walmart's slogan is a burning example of how it can help a company improve its profit and strengthen its position in the market.
Final thoughts,
There's no denying the fact that slogans are the most powerful tools for any company. It can be used to convey the company's values, mission, and benefits in the best possible way. 'Save Money. Live Better is a great example of a slogan that immediately connects with customers. It not only conveys the company's values, but it also sheds light on the impact on customers' lifestyles. Companies must take the initiative to invest and create slogans that communicate messages clearly to their customers.
