How would you plan for your brand’s future if it was based on a limited run? Goals and objectives accomplished. Check. I call it “The limited brand” strategy. It’s a brand that focuses excitement and buyer loyalty on short-term goals.
We except change and “the new” everyday, but with brands…we crave it. The next updated software, phone, or the latest fashion trend, the newest music, or popular movie. Yet from a brand building and business perspective, we think brands should stay around forever. Maybe that’s why some brands lose their chutzpah? They need continued energy and creative input, and one way to build that is to attach a closing date. It’s the ultimate limited edition, so to speak. Consider asking yourself the following:
How would I focus my brand if I knew it only had five years to “live”? Would I…
- follow my performance more closely?
- make faster business decisions?
- focus more on producing the “got to have it factor”?
- see my brand more like fashion or as a trend?
- find creative ways to inspire and excite?
- add more value without adding cost?
- look for a more short-term commitment from my customers?
Maybe you can get where you want to be by starting with the end in mind. Something to think about.