How to outlast Trends?
Turn a Want into a Need. A Need is usually not temporary, a Want often is.
If as an entrepreneur you uncover a trend to tap into, it can be done in a short-term, unsustainable, yet highly profitable manner: Start shop quickly, gain momentum fast, maximize sales and dissolve immediately upon peak. Done deal. You did not build a brand, but sold a trendy product or service that has run its course, but in a profitable manner.
If you are in it for the long term, despite leading with a trendy product or service, and you want to build an actual brand, ensure to have a long term brand strategy formulated. It does not even need to have a direct relation to the trend, only to the audience and category. Your audience would not know, they are blinded by (and excited to buy into) the trend, but once the trend fades, the audience is yours and you will be ready to tap into them with the next product or service that speaks not to their initial Wants, but this time to their Needs. You planned for that to happen. The consumer already likes your offering, and if the trend faded, but you have another product ready to sell that fits their needs, they will make the purchase based on the trust your brand has established. You successfully created a trendy product and turned it into a sustainable brand. With this strategy you tap into a momentary want (a trend) yet allowing you to keep the same consumer for their ongoing needs.
If you are destined to dive into the risky business of building a brand based on a single trend, make sure to lead with the candy row for their wants, but then build the rest of the store to sell them the meat and potatoes they actually need.
CATEGORIES: Blog Startup Advice Your Brand Launch: Brand Strategy
TAGS: brand architecture, need, Trends, want
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Fabian Geyrhalter is the Principal of FINIEN, creating clarity for brand transformations.
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