October 2023

If there’s one thing a few trips around the sun teaches us, besides the inevitably of gray hair, it’s that nothing lasts forever.

 

And that goes double for goods and services. They have a lifespan, and your understanding of the timeline for conception and growth to eventual decline and removal from the market will give your business a whole lot of advantages. Knowing the life cycle of your product helps you stay on top of its future, how to allocate resources based on its anticipated performance, and when the time is right to debut a new product to take its place. 

 

A prime example of a company truly understanding how the product life cycle works is Apple.

Let’s take a look at the 4 Product Life Cycle Stages and how Apple utilized their knowledge of them when handling their most well known product: the iPhone….

• 2007 – Introduction

The iPhone’s entry to the market was a time so momentous you might even remember where you were when it happened. Apple combined the old school mobile phone with theiPod Touch and the personal computer in a way so perfect that those who got them were almost annoyingly pleased, and those who didn’t were instantly jealous. The sleek, new product was combined with a heavy marketing campaign and ample buzz, and it’s been the smartphone to beat for more than 15 years.

• 2009-14 – Growth

Apple knew a good thing when they had one, and expanded the iPhone to new markets, introducing new functionalities, and creating lifelong fans. With the arrival of the App Store in 2008, the iPhone became a complete package and the sky was the limit.

• 2015-18 – Maturity

The iPhone was now established, and customers knew what to expect. Sales were stable and business was good. At this point, Apple began diversifying their #1 product by providing different models at each rollout, offering options based on the needs of users. By introducing the option for larger or smaller screens, different colors and tiers of advancement, the iPhone’s life cycle was further extended.

• 2019-Present – Decline

But now, with so many options for smartphones saturating the market, iPhone sales growth has slowed. Rather than mourn the end, Apple has diversified their product line-up. The introduction of Apple TV+ and Apple Music, as well as more iPhone options, like the SE shows a company that believes in the importance of encouraging brand loyalty and ecosystem integration. They have a community of users who are more than happy to pay top dollar for each new product based on the Apple logo alone, even as the iPhone ceases to be the world-encompassing event it once was. 

 

And this keen understanding of product life cycle management, especially when it comes to a product with a limited lifespan, kept Apple’s most popular product on top for more than a decade (no small feat), and will serve to maintain their strong market position for years to come.

 

Now, how does this keen understanding of product life spans pertain to your company, especially if you don’t even offer a physical product to your customers? Well, the same rules apply if that’s the case, however they’re more fluid and require you to pay closer attention to their market behaviors. 

 

Here are some reasons you should consider the product life cycle if you offer a digital service or product.

• Planning Ahead

Whatever type of product you’re offering, understanding its life span and planning for growth, evolution, and eventual decline helps you stay prepared for future changes. As your product moves through its life cycle, you’ll be able to keep tabs on (and anticipate) each stage, and make your offering more effective and well-suited to the needs of your clients along the way.

• Innovation

Similarly, as your product’s life cycle progresses, you’ll be able to notice areas for improvement and ways you can change it in ways that can better please your customers. Just like Apple did by introducing variety into their iPhone line, by keeping tabs on the life cycle stages of your product, you’ll be able to bring innovation into the mix and extend each stage of its existence. Note: if it’s easy for competing companies to enter your market and make waves, knowledge of the changes you can make in the life of your offering is absolutely paramount. 

• Happy Customers

Your understanding of your product’s life cycle will also help you manage customer expectations. Maintaining a high level of happiness among your client base, even as your product evolves, can hinge greatly on your understanding of its position in its overall lifespan and the adjustments you make accordingly. 

• Decline Management

Ever notice how successful companies always have a new product at the ready just as their previously successful product is nearing the end of its lifespan? An understanding of your product’s life cycle means that you’ll never be caught off guard by market changes and, if you’re on top of your game, you’ll have product changes, improvements, or even brand new offerings, at the ready for when the time is right.

 

Almost every product which can be sold has a life cycle, and each of its four stages hinges on a myriad of factors, many of which are within your control and many that aren’t, but which can be anticipated if you understand them. One thing is certain: This framework is an incredibly valuable tool for understanding and managing the life of your goods and services. No matter how you use it in your business, keep it in mind.

As another Pink October arrives, we’re here to remind you that your brand can make a difference.

 

We’ve all known someone who’s been affected by the pain of breast cancer, so let’s use our brands, and our influence, for good! 

 

1 in 8 women will receive a breast cancer diagnosis. And, every 2 minutes, another woman is diagnosed. Even more concerning, a woman will die of breast cancer every 13 minutes. It’s the most common cancer among women worldwide.

 

And it deserves more attention paid toward prevention, treatment, recovery and understanding than one month out of the year.

 

That’s why leaving behind the standard blatant self promotion required to attract business in this day and age, and focusing our attention on a cause that affects us all, is so important. Working for empathy for those afflicted, and for a cure, is and always has been, the best thing we can do. 

 

Here are some ways we can promote Breast Cancer Awareness October, and our commitment to honoring and celebrating this most important cause. 

• Pink It Up

We begin with the defining color of the month. A temporary brand transformation from your chosen color scheme into a sea of pink during Breast Cancer Awareness Month calls attention to this important cause, while also serving as a visual reminder to our clients, partners, and employees of its importance.

• Sharing Information

Specifically, sharing prevention information allows brands to interact with those who may need it most, and increases awareness of valuable information within your circle. We’re using social media in this regard, due to its ability to reach a large group of people directly and even have a conversation, but you can also share important breast cancer prevention information via email or on your website directly. 

• Help Victims and Their Families

Organizing drives and giveaways that contribute to charities, or even directly with those who’ve been affected by breast cancer, is a great way to observe Pinktober. Whether it’s through financial contributions or volunteering time and skills, these collaborations not only benefit the cause but also help forge valuable relationships with like-minded organizations.

• In Your Company

Encouraging your employees to freely express their solidarity by wearing a pink ribbon all month, especially during times when you know you’ll be seen by your people, gives them the opportunity to share testimonials and experiences. It’s important to let your staff know they have the freedom to share their stories, no matter how personal. 

 

Spreading information and awareness saves lives. You don’t have to keep it heavy or sad, but getting involved during Pink October, even in small ways, can go a long way. As a Branding Company based in Dubai, we want to stress that your audience may be larger than even you think it is. And, in a city this large and thriving, using your platform to spread knowledge and hope is of utmost importance. Just take a look at downtown Dubai, and the Burj Khalifa, on October 15th and try to tell us we’re wrong. 

 

Therefore, we believe that, by using our soapbox and resources, we can contribute to raising awareness, providing support and ultimately finding a cure for breast cancer. 

 

So join us in embracing Pink October and making a positive impact on this important cause. Together, we can make a difference.

If you think you know all there is to know about Instagram, think again.

 

The rules for getting reach, and reaction, through the Instagram algorithm are complex and constantly evolving in big ways and small. 

 

And there’s nothing that increases your exposure on the app more than stories. Those 24-hour icons at the top of your app are catnip to the early morning scroller, the follower on lunch break, and the avid fan looking forward to your next nugget of wisdom. 

 

But the ever confounding Instagram algorithm can make or break your next great story, so it’s important to understand as much as you can about how to make it work for you. 

 

There are, of course, tried and tested approaches to getting your stories seen by as wide an audience as possible….

 

• Consistency

Studies have shown that, if you’re getting stories out there regularly, at roughly the same time of day, people will learn to expect and look out for them. If you’ve got followers on the lookout for your next story, no need to keep them waiting. Post regularly, whether that means daily, every other day, or weekly. Just be consistent about it. 

• Hashtags

Keep up with popular hashtags, and location tags, to help attract larger audiences, especially the ones who are off searching for new content. Users who search for or click on the tags you use have a better chance of stumbling onto your story, and getting hooked on your great content, which brings us to….

• Great Content

That’s right! If you want folks digging deep into what you post, then make damn sure what you post is consistently great. If you know your audience, make sure your content is relevant to their interests. Make sure your visuals are eye-catching and fun and your information is relayed in a clear, compelling way. 

• Be Yourself

Nobody likes to be played for a sap and, even on Instagram, people can spot bullshit pretty quickly. So steer clear of stories that don’t feel genuine. If it feels fake to you, it’ll feel fake to others. But if you’re authentic, and willing to share bits of truth in your stories, you stand a better chance of attracting attention. 

• Collaborate

Mentioning and tagging other content creators is a great way to attract the attention of their followers. Collaborations and shoutouts have the power to cross-promote content and introduce your profile to a wider circle of followers.

 

There are plenty of additional ways to bring attention to your Instagram Stories. Some may work for you, while others won’t. So practice a bit of trial and error. Don’t be afraid to bomb occasionally. Unless it’s incredibly embarrassing, the internet has the memory of a garden slug. 

 

What is important, however, is that you understand how the mysterious Instagram Stories algorithm works, so you can make it work for you. 

 

So let’s break it down….

 

Beginning at the beginning: When you publish a story on Instagram, the algorithm gets to work by sharing it with your regular followers, the people who interact with you the most. Let’s say they wake up, check their phones, and see your story at the top of their feed.

 

Your fervent followers then have a choice. They can simply view your story or click away from it, effectively killing its reach. But, if your followers reply, share or simply like your story, it can take its first step into a larger world!

 

Once it’s liked/shared/replied to, the algorithm places your story at the top of the feed for more of your followers (the less fervent ones,) and gives it the opportunity to be seen by more people than your biggest fans (hi Mom and Dad!)

 

Sharing is caring at this point, because, as your followers share your story with others, they give it the wings it needs to garner more views and engagement. And, by flexing the hashtags, creating great content, and directly interacting with people who respond to your story, your brand has a better chance of getting its social media wings.

 

And don’t forget to check out those Instagram Insights as you share your stories, so you can repeat your great performances and disregard the missteps. 

 

Happy posting!