What’s good, Vaynernation?!
When Tesla dropped a tequila, it made all the sense in the world to me. As many of you know, I’ve been talking about brand expansion (in “unusual” places) for a while now. I’ve been on this for so long because I believe in innovation and expansion. I want you to believe in it too.
The expansion makes sense because the super premium nature of the brand pairs well with the premium lifestyle aspect of their tequila. Plus, alcohol and tequila translate well, in general, for expansion of brands. I also think it’s culturally cool, thus it goes into another category of cool with this expansion.
I’ve talked about this before and it’s worth repeating. Some brands have truly established themselves in their sectors which gives them permission to expand in similar albeit different sections of that same sector. I think BMW has done that. Therefore, they “have permission” to make headphones that we would all buy. The BMW logo is cool and matters; plus, we think of them as an engineering company that makes good things. Still, 99 percent of people might say, “No. BMW makes cars.”
I say, BMW can make headphones because they’re one of the brands that have established themselves. They have undoubtedly established something enough to have permission to do something within that target demo that’s executed in a different product or service. They’re not the only ones either. Nine years ago, Apple could have come out with a sneaker and won a large share of attention from people who love sneakers. They were so cool that they could enter that market, then they could innovate, which is their DNA.
I think Porsche and Mercedes should go into other sectors as well. Why should Braun be the biggest razor in the world? I would buy a Porsche razor. You have to think about where you have permission (i.e. credit/reputation) to grow.
The bigger question for this audience is: What can your small business expand into? Which demo do you serve? What’s your company’s “permissions”? And are there areas you want to get into? What can you do for your personal brand? Where can you go? What can you offer?
Please entrepreneurs, please CEOs, please CMOs that read this article–take advantage of where the attention is. I implore you to understand that what Tesla did with tequila is what you all have the ability to do. Think, build your brand, and expand in unique and interesting ways. It’s more than hoodies and T-Shirts, I encourage you all to get creative.
Then someone could say, oh my god, what are they going to come out with next?There’s your motivation for today. Let’s innovate…who’s with it?