The one major thing that will ruin any company or business is not staying up to date with new methods, or dismissing new ideas simply because that is not the way things were done in the past. There are many different examples of companies that refused to grow with the times and companies that felt that they were on top and could do no wrong, and so fell down to the bottom as the rest of the world moves on. To stay relevant, brands and companies need to be present in the daily lives of their consumers. Without a subtle presence, the brand becomes irrelevant as no one knows about it after a while and people move on to newer things.
As the generation of the past gets older and move away from being the main target audience for a lot of brands, the types of advertisements necessary to capture the attention of the currently relevant generation have to change. Believing that the same sort of ads will appeal to a much younger crowd is a silly thought, you need to switch the areas of advertising and the ways you advertise to capture the newer crowds of customers.
A great way to do that now is to use social media influencers. Younger people do not watch television as much as older people do. The internet is the go to place for younger people for all their content and information. This means that the younger people are more susceptible to ads put up online rather than on newspapers, billboards, and television. Many people now follow various social media influencers and trust their reviews. Getting an influencer to promote your product through a influencer marketing platform could mean a few million people get advertised to and probably buy your branded items and products.