It might sound stupid, but when I first got to Australia and saw a Dominos I was pretty happy. Not that I am a huge fan, but growing up in Ann Arbor, Michigan it was cool to see. As a kid, just about every Christmas we’d cruise through Dominos Farms and see the lights, buffalo, and other non-native Michigan species. When you grow up in the epicenter of a brand, it’s tough to tell it’s reach.
Despite this global reach Dominos was having an issue. They were losing market share and had gotten a reputation for sub-par food and choices. In 2010, they did something unheard of, they admitted they sucked, and vowed to turn it around. What’s more insane is it worked, really, really well. It’s worked so well that it went from $9 per share in 2010 to over $160 now. That’s a better growth rate than Google over the same period of time. Insanity.
It wasn’t only an aesthetic change. They revamped their stores, menus, and quality of the product. While it’s still mass produced pizza, they held up their end of the deal, and even here in London, the quality is much better. They’ve created a brand of fast food, that appeals to a wide range of customers. I feel like this gets overlooked when people bring up innovative brands, or ones that have reversed their image.
Despite it not being the most healthy offering, pizza is still king in the US and many other places as well. It’s still one of my guilty pleasures, even though I know I will get a food-hangover from it. This is a Hell of a turnaround story, and a good road-map for struggling brands. In a world where customers are searching for authenticity, there’s nothing more authentic than promising something, then delivering.