From the course: Soon Yu on Creating Timeless Brands
What is staying power?
From the course: Soon Yu on Creating Timeless Brands
What is staying power?
- Staying power is the ability to stick around and the goal is to achieve timeless relevance through having great staying power. Now, if you think about what are the qualities that are required to have great staying power, the trick is being able to balance what's great about the old and then fuse it with what's interesting and exciting about the new. It's this tension between old and new that creates great staying power. And I often talk to brands about this idea of knowing what to protect of the old but also knowing and understanding what direction are you going to and what direction is the world going to and figuring out what's great about what's happening in terms of your new direction and where the world's going to and bringing that back in and marrying it with the old. If you're able to do that, then you're able to create timeless relevance. And when I think about a brand that has gone through both the good and bad of this, I think of this brand that came out in the 1960s, in the swinging '60s of London, kind of the Austin Powers period, one of the best brands that came out was a car brand called Mini and we're all very familiar with Mini. Now, when it came out, it had great noticing power, it really stood out, it looked so different and very fun and cheeky and really embodied that Austin Powers era but the problem with it is it didn't focus on great staying power. It had great noticing power but for the 30 years it never upgraded its look, it never upgraded its power, it never upgraded anything about it. In fact, the car that came off the production line in the late '90s, the last one was basically the same car that came out when it first came out in the 1960s, so it hadn't changed in 30 years. So, unfortunately it went bankrupt because it did not focus on this idea of marrying great old with new, it just stayed with its old.
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