In this 30 second PAREable, check out lessons from a company which print cards that battled the science of bubble and kept the fad going for 20+ years.
- When fighting a bubble, drive the speculators out.
- Focus on the core audience, those that sticks with your product for its essence, not its value.
- The monetary value of the product exists, but the product should stay at the front and center.
- Aim for targeted, sustainable growth instead of huge spikes.
- Bubble pops hard, Wizards of the Coast focused its strategy on the long term instead of grabbing cash during the bubble.
- Bringing the value of the cards back to a reasonable level that people can buy by printing lots of new sets of cards. When a pack of cards is sold for more than retail, print more.
- Older, powerful and valuable cards were banned effectively by starting a Pro League where Wizards of the Coast dictate the rules of play.
Live and apply these ideas with the FREE Mindmory app!
Don’t just take my words, check out Planet Money’s Episode #609: The Curse Of The Black Lotus.
Until the next PAREable..