Did you hear the news about Playboy magazine? The iconic publication announced that it will no longer feature nude photography in its illustrious pages. Their top editors said there’s no longer a market for their trademark nude Playmates, primarily because you’re one smartphone click away from the most freaky bucknakedness you ever want to see. And it’s free.
The Playboy brand has diminished over time due to the increased appetite of consumers and changes in technology. At the height of its popularity, Playboy’s domestic circulation was over 5.5 million subscribers. In 2014, they reported 850K subscribers. How can a brand so well known for women with no clothes on tell their models to put their clothes back on and expect to sell more magazines?
Simple, it’s the process of reinvention. Just as this brand has been devalued over time, many people will find themselves in a similar situation with their professional or personal brand. Just remember, if Playboy can reinvent itself, so can you.
Here are three important action steps to consider when reinventing your personal or professional brand:
Take inventory of your natural gifts and talents.
The key to reinventing yourself is to first identify the attributes that make you unique and give you an advantage over others. You were born with abilities that come so easily to you that you often take them for granted. However, those same gifts and talents could be worth millions if packaged and promoted effectively.
Playboy has a long tradition of investigative journalism and in-depth articles on athletes, celebrities and fashion, but the only subscribers who appreciated this were the few who read it for the articles (yeah right). A renewed focus on promoting your strengths can change the perception of the value you bring to the market.
Create a more empowering story.
What worked for you in the past may get you nowhere today. If your story of who you are doesn’t serve you in a productive manner, change it. Most importantly, never let someone’s opinion of you become your reality. Use the power of your voice to speak your new vision into existence and the world will respond accordingly.
Playboy could have succumbed to the narrative of being irrelevant because they were losing $3 million a year, but instead they attracted more advertising dollars with their new brand story and market strategy.
Take 100 percent responsibility for your brand.
Never allow anyone else to define you or determine your value. Don’t wait for someone to give you permission to change your story or to reinvent yourself. Even if your brand has been devalued through circumstances beyond your control, have the attitude that what happened to you had to happen to make you the person you strive to be. Assuming 100% responsibility for the success of your brand empowers you to maximize your potential to create more of what you want in life.