How do brands achieve the longevity that lets them cross generations?
Many sources will tell you that the most important factors contributing to a longer life are a mixture of genetics and lifestyle. For us humans, the key elements include a plant-rich diet, regular physical activity, good sleep and moderate alcohol intake. What few lists mention is that wealth is also strongly correlated with an increased lifespan.
But what about brands? What’s the secret to long life and good health? Well, brands clearly don’t follow the same rules. To start with, some of the oldest ones are alcoholic, or produce less-healthy foods, like chocolate. They include Berry Bros & Rudd, the wine and spirits merchant founded in 1698; and confectioners like Baker’s Chocolate (1765) and Lindt (1845).
Brand longevity has a contradiction at its heart. It’s all about being the same, but different. This has been espoused by brand gurus in many different ways, but perhaps my favorite analysis comes from Jim Collins and Jerry Porras in Built to Last. They describe the challenge as “maintaining the core whilst stimulating change.”
Collins and Porras show that successful, long-lasting brands – while simultaneously developing and innovating – stay true to a core ideology. In today’s marketing speak, that translates as a purpose and a set of principles.
The notion of stimulating change comes in two parts. The first is perhaps akin to renovation, and the idea that “good enough is never enough.” Brands should strive to keep doing what they do today – but do it better. The second part relates to true innovation and potentially reinvention. It’s increasingly clear that brands benefit from trying ‘new stuff,’ and keeping what works.
This can mean a fundamental shift in your business. Nokia began as a paper mill, while Lego was originally a producer of wooden toys. Virgin, founded by childhood friends Richard Branson and Nik Powell, is another great example of the virtue of trying new things. It has a core ideology and purpose, expressed as “Changing business for good,” underpinned by its values: “Be Human, Be Visionary and Be Brave, for the good of all.” By design, that’s broad enough to encompass all that the company now does. Virgin has tried a lot of ‘new stuff’ in its time, attempting to shake up markets as diverse as radio, cola, vodka, cosmetics, fashion, bridal wear and financial services. Not everything has been successful – yet plenty of new businesses have stuck around, keeping the brand healthy and contributing to its longevity.
Another key factor for brand longevity is building and maintaining close customer connections. The best brands work hard to be loved – yet they are also willing to adapt precisely what it is that they are loved for, and to change the experiences they deliver. Long-lasting brands create a unique ethos for employees, too.
Setting highly ambitious objectives – what are sometimes called big, hairy, audacious goals – is another factor. This is closely linked to the need to keep evolving: bold challenges and targets can help make sure brands don’t rest on their laurels. Yet perhaps surprisingly, many of today’s strongest brands don’t see size as a guarantee of longevity. In 2018, Jeff Bezos said, “Amazon is not too big to fail… In fact, I predict one day Amazon will fail.”
As we ponder the challenges of increased human lifespans, brand leaders would do well to reflect on the lessons for brand longevity. Great brands, well led, should outlive us all.
Giles Lury is an independent brand consultant and writer
