What the Rolling Stones Teach About Business Reinvention
July 31, 2013
Should Brands and Businesses Reinvent Themselves to Keep Up With The Times? (What can you learn for your business strategy?)
No, no reinvention. Not if the Rolling Stones are used as evidence to a brand remaining constant.
For over 50 years the Stones brand has remained constant and the crowds at Glastonbury, and continued sales of their music, are testimony to the success that brand consistency brings.
Of course it isn’t only in the music industry where brand consistency wins. It works in small businesses like yours as well.
But what do I mean by brand consistency?
Well quite simply that the core values remain consistent. The Stones weren’t consistent with their product; new albums were cut and new tours undertaken (in fact tours added value to the brand in that fans could see them in the flesh .. sometimes across acres of other fans). No, I mean the consistent core values.
For you, that might mean the same great customer service standards or high quality goods. And like Cadburys with their Cream Eggs, which may have changed size but never lost their consistent promise of pleasure, your customers will be encouraged to come back again and again.
Likewise the Stones. Their brand (core) value may have been loud and irreverent but it has remain constant and their fans love it.
So I’m not suggesting you don’t move your product lines with the times, or not sell online or adopt other new ways of doing business. What I’m suggesting is that once you have core values, that align with your customer base, you maintain your brand along those lines.
If the brand is inconsistent
Going back to the sixties music scene I can think of many successful groups that have now sunk without a trace. But many are still with us and they have a golden future.
Not only did they benefit from Gold Discs they can now tap in to that seam of gold that is the older fan. Many Stones fans at Glastonbury were seeing the Stone live yet again. At earlier gigs they had been much younger, but they are still fans and now have the disposable income to pay for relatively expensive live events.
But if your brand is inconsistent, if you spend all your time reinventing yourself or your business (and I don’t mean product or services), you will lack a constant fan base.
Consistent brands + consistent fan base = profit
Inconsistent brand + new customers = repeated hard work and much less profit (if any).
Want to develop your brand? Contact me now.
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