A Rule That Makes You Rich


Here is a marketing rule that can make you rich.

ecuador-car-rentals

This was my first car.  A powder blue 1958 Chevy.

The marketing rule explains why I love the thought of it, but also why I would not want to drive it (or one like it) now.

This rule can help you earn a little extra… or a lot.

At least the rule helps you see with greater clarity what’s going on in this confusing, modern world.

The rule is that people look at the past through rose colored glasses.  The good old days seem better than they were.  People want what they perceive they no longer have.

This 1958 Chevy.  When I see one… “Wow what a great old car”, I think.

Baloney.

We fool ourselves…

Compared with today’s cars… it was a load of crap.

I have a friend who rebuilds classic cars.  He tells me that purists want classics to be exactly as they were.

Not for long.  Not if they are driving them.

Drum brakes. No power, ball joint steering.  No air-conditioning.  Roll up windows.  Big block, gas guzzling engines.

Purists rarely drive them long.  They end up clipping them (welding an old body onto a modern car).

New features in cars really do make them better.

Yet we see classics and remember.  They seem better than they were.

People want what they no longer have.  We no longer have the need to sit cozily around a fire.  When central heating became perfect, everyone suddenly wanted a fireplace.  We no longer need to go into the woods. Once the road systems in America became perfected so you can drive anywhere on perfectly smooth paved roads, the four wheel drive off-road SUV became the most purchased car in the country.

This rose colored rule manifests itself in funny ways.

Take Pabst Blue Ribbon beer.   PBR was really popular… in the 1970s,.   It died, hitting a low in 2001, when PBR sales dipped beneath a million barrels.

Then PBR reignited.  PBR even overtook Coors and Sam Adams.  Americans drink over 350 times more PBR now than in 2001…because the nostalgia caught on with younger drinkers.

“Hipsters fetishize the lowbrow culture of the ’70s and ’80s,” Salon observed in 2008. “The hipster’s beer of choice is always going to be a cheap one.”

The nostalgia spilled over borders as well… in funny (but profitable) ways.

The nostalgia for Pabst Blue Ribbon led the business to be sold for over 700 million dollars… to a Russian company.

In China, Pabst released a new beer called “Pabst Blue Ribbon 1844” for consumption in the domestic Chinese market.  This is NOT low premium beer.  It sells for 44 U.S. dollars a bottle.

Here we are… a divided world in a divisive time.  The good old days are selling “Make America Great Again”.   This has been happening in Britain and now New Zealand and numerous other countries too.

Just remember… the good old days look better than they were.

Understand… it’s frightening to look ahead.

So we look back.

Nostalgia sells.

Whatever you are doing in businesses add in a bit of the past.  Look forward as you offer the past.

That’s the way to get rich.

Gary

 

 

 

 

 


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