What makes a brand sustainable? Knowing the answer distinguishes lasting success from the darkness of failure. Almost every company offers significant resources to identify their brand. But few ask an equally important question – how do you expect it?
Historically, brands have gradually grown in popularity. Look at almost every decade since the 1950s, and the world’s most valuable consumer products – from Oreo to AT&T – have not changed much. Even in the new millennium, this trend has continued. Between 2000 and 2010, only two of InterBrand’s top 10 brands were dropped from the list. But Only half of the brands on the list in 2010 were from 2019 onwards.
By creating new business models that blind many traditional brands, the Internet era makes partially unsustainable brands. But there is nothing inherently contradictory about digital lifestyles for older brands. Coca-Cola remains one of the most expensive products in the world — and was invented in 1892!
So what makes a brand sustainable even when business models, technology and consumer behavior change dramatically? They are key The next brands are interchangeable brands – as well as heritage as we see it.
So let me share with you what I have learned over the last five years as an entrepreneur and an exporter. While sports products are not really old-fashioned brands, their rapid explosion is a lesson in adaptation for any company.
Over the past decade, sports have become the most popular $ 27 billion industry in the world. The number of pro players in this game is high. And the main platform for viewing exports, Twitter (acquired by Amazon for $ 1 billion in 2014) surpasses traditional broadcasts such as ESPN.
But the biggest game that carries the biggest success is Fortnite. A.D. In 2019, Fornit reached $ 1.9 billion. NFL quarterbacks will play Fortnite Victory in the final zone. And Star Wars broadcast the interstitial message throughout the game, announcing the return of the emperor.
Fortnite has not always been popular. In fact, the game was played in 2017 by a zombie shooter who faced a rival-unknown battlefield (PUBG). PUBG has sold more than five million copies of its “Battle Royale” version, which allows 100 players to play for free at once.
In just two months, Fortnite released its own version of the battle mode. But, primarily, Fortnite did not follow PUBG with hatred. Its designers have found that PUBG’s chaotic battles are more effective than hiding, which emphasizes patience and skill. Thus, Fornit allowed players to set up defensive structures anywhere on the map, supporting strategic thinking. As a result, Fortit was deeply rewarded Lordship. Along with the usual shooting skills, spending time learning the game’s unique construction mechanics has led to consistent victories.
Second, Fortit made itself Accessible, Release as a free-to-play game compared to PUBG for $ 29.99. In addition, in contrast to PUBG’s brutal military image, it produced beautiful cartoons of all ages. And it made the game play faster on any device — from high-end gaming PCs to cell phones. Fornit also realized that not every player wanted to hit things in his head, and he began performing concerts and creative events to attract a wider audience.
Third, FortNit promises to fast Transparency New content, almost every week releases new features and tools. These changes have made the game constantly fresh and mindful.
Finally, Fornit He fell into a trap A huge catalog of cosmetics such as NFL common identification uniforms, promoting the social characteristics of its customers, pairing related algorithms with equal players. These are locked by network results and conversion costs according to the player.
These four strategies led Fortnite to Mitric success. A.D. By the end of 2018, Fornit boasted 200 million registered users, and the number of PUBG players dropped by 66%.
These same methods: I call the MACE framework together – not just once, but for all brands. Let’s take a closer look at them.
Lordship: Offer your customers non-refundable rewards for using your products and related content. Ideally, these awards require public or near (non-monetary) public offerings to take advantage of the gift (over-evaluation of losses) and the effect of acquaintance (over-evaluation of relationships). For example, Hassbro brand magic, They were first unveiled in 1993, with Secret Gore as the backbone of innovative products in 2019, growing by 30% year-on-year, with a limited-edition, 24-hour purchase requiring a “digital queue”.
Accessibility: Make your product easily accessible to as many consumers as possible by following three simple rules. First, make your entry-level products as cheap and free as possible. For many industries, this means upgrading alternative pricing models (such as late payments, rentals and subscriptions) to reduce prepayments. second, Distribute your product or service through as many channels as possible. And third, design and market your products to appeal to young and first-time customers. While older or existing buyers have a higher margin, focusing primarily on this will limit the growth of your long-term customer base. For example, Marvel superheroes outperformed their rival DC at the box office, partly due to a strategic decision to focus on PG-13 levels and simple heart jokes that can appeal to all ages.
Cadence: Always create news and content around your product. First, release many new products (or product updates). Second, grow promotional resources such as marketing videos by converting long-term media into smaller content. Third, encourage user-generated content as much as possible. And fourth, talk about everything; Congratulations. Do you have a product launcher? Start talking about it publicly. You’ll be amazed at the results, as Apple did during the Taylor Swift clash. By acknowledging exploitation royalties, Apple turned bad public relations into viral social media and ended up promoting Apple products with Swift.
Trap: Make your brand as consistent as possible by changing costs and creating network results. To achieve this, two general strategies – systematic and reproductive – include product growth – systematic product lines are better at LEGO. The brand eliminates one-time bricks that support the sale of entire systems (LEGO modeling products). Imagine how vulnerable LEGO would be to low-cost brick competitors if everything was sold individually! Reproductive products include a built-in reason to share. Consider the promotion of Coca-Cola Stock-A-Cocaine. By publishing common names on Coke cans, the brand has encouraged donations among friends – helping to increase sales from 1.7 billion to 1.9 billion services per day.
To show the generality of the MACE model, let’s apply it to the more traditional world – thermostats. At first glance, the furniture is thought to have nothing to do with FortNit multiplayer bullets. But in reality their production strategies are surprisingly similar.
The first smart thermostat, Nest Success, is a perfect example of how even CPG products can be redefined for digital age as MACE ready-made brands. Here’s how Nest’s strategy was put into MACE situations during his lifetime:
Lordship: Nest thermostats reward the Lord directly – saving customers money. The thermostats show the Nest leaf and reward energy-saving settings. This leaf becomes more difficult to achieve over time, which encourages users to interact more closely with the device to make it more economical in terms of heating and cooling costs.
Accessibility: At the time of this launch, this was arguably Nest’s biggest point of difference. Thermostat is designed for the digital generation: app-integrated, intuitive and beautifully designed.
Size You may not think that a thermostat is capable of content. Traditional thermostats are programmed once. Then it may not be again. But Nest usually updates its users through the app. Automatically adjusts daily routines, such as lowering the temperature at bedtime. Indicates time to reach desired temperature. Monitors movement patterns based on weather. And much more. Modern thermostats do not need to generate content, but Nest does.
Trap: Finally, Nest locks in users by changing costs and network outcomes. As part of the wider Google Smartphone, cameras, doorbells, alerts and locks, eco-friendly purchases are horribly excluded. Even more intelligently, Nest uses network results to integrate user behavior data and create better algorithms for temperature control.
MACE is designed to improve long-term relevance for any brand — even traditional. True, if you do not have a brand, digital communication requires a smart mind to use this framework. However, companies that are unable to engage with consumers on digital platforms are considered dinosaurs. Even the most traditional products can act as a thermostat, and they must do so efficiently. Manage MACE with your mind, and make sure your brand stays in our growing digital world.