Who are the most successful bands in rock ‘n’ roll?
Over the past decade, eight of the top 20 top-grossing acts had a lead singer that will be in his or her sixties this year.
And 94% of the money earned by the biggest acts in the decade went to bands with lead singers over 40. Not one band had a lead singer in his or her 20s.
Consider this. A recent poll in The Hockey News revealed that the five most popular hockey team logos are from teams who were part of the NHL’s “Original Six” teams from the league’s inception… Chicago, Detroit, Montreal, Toronto, and Boston.
Top-selling soft drink? Coke.
Leading brand of athletic shoes? Nike.
Number one technology brand? Apple.
Top selling ketchup? Heinz.
And the list goes on. Brands that dominate these broad categories are the ones that have been around seemingly forever.
How can a new brand be successful amongst these giants?
The secret is finding a new category to dominate.
Red Bull became the #1 energy drink in the world by establishing an entirely new product category that didn’t previously exist. Why compete with Coke when you don’t have to?
Vibram established themselves as the leader in five-toed shoes by creating a new product category that we had never seen before. Why would you want to take on Nike?
If you want to make a new brand successful in a crowded marketplace, you need to determine what makes your product unique, and use that difference to create a new product category.
Be first. Be original. Be a leader from day one, and stop wasting time, money, and resources trying to take on an established giant.