I’m a
grown man, and I play with Hot
Wheels. There. I said it. With just under a thousand cars in my own
collection, I've been hoarding these little gems since they were first
introduced in 1968 (I was nine then…do the math). I can’t help it – they’re
just that cool. There’s the racing, the collecting, bragging rights, forums to
talk about them, Ebay….need I say more?
And
it’s not just me – there are millions just like me worldwide. So what is it
that makes these cars so desirable to so many for so long?
At the time, Matchbox cars from Lesney Products were
the premiere collectible car – they were 1:75 scale, easy to play with, original, and many of the cars had moving parts or accessories. Their operative
word was authentic. They looked like the real thing. To become a major
player in the die cast car market, the creators of Hot Wheels had to come up
with a powerful alternative to compete. They started by asking one question –
from a child’s perspective, how can they add extra play value to their cars?
While
Matchbox cars were fun and authentic, they were anything but fast. Hot Wheels
built their cars as being “the fastest metal cars in the world!” They found the
one thing that all other collectibles were not – racing fast. But being fast
wasn’t enough – they looked for other play value that included Spectraflame paint
colors, fantasy car and hot rod designs, mag wheels, and cool California
Customs. Some cars had moving parts, some had accessories, and all were fast.
The realm of possibilities for design concepts, applications, and accessories
were now endless.
Today,
Hot Wheels proclaim being “the hottest cars in the world”, surviving all
comers. Eventually Mattel, the makers of Hot Wheels, purchased Matchbox.
So what
are the lessons we can learn from Hot Wheels and how can we apply them? Here
are a few I came up with:
Hot Wheels is a simple and compelling brand. They asked questions
from their target audiences’ perspective, and created a brand that would
encompass what their audience desired.
Hot Wheels constantly evolve and remain
relevant.
By staying in tune with its audience, Hot Wheels not only follows trends, it
creates them. They define what is cool and desirable to multiple market segments.
They remain “in-touch”, allowing themselves to be reached and interacted with.
With the advent of the internet, Hot Wheels created a child safe environment in
which one can play with their cars on-line and hold virtual races.
Hot Wheels are innovative. Their patented axle
and wheel system may have launched them, but they didn't stop there. Hot Wheels
are always experimenting with themes cars, paint styles, wheel designs, new
accessories, track layouts, and equally collectible non-car merchandise. Only
the Hot Wheels brand carrying case was good enough for my cars, and I had to
have the Hot Wheels lunch box (preferably the one with my cars on it!). As
early adopters grew up (namely me and those like me), Hot Wheels created cars
and collectible themes that still catch my attention.
Hot Wheels remain authentic. From the beginning
Hot Wheels mimicked real cars (i.e. The Beatnik Bandit), but
that’s not what I mean. Hot Wheels are authentic to themselves and to their customers
and audience. They sponsor forums to collect feedback. They sponsor collector
clubs for kids and adults. They hold conventions. But more than this, they
remain authentic to the brand.
They consistently provide added “Play Value”. Whether it’s a
moving part, an attachment, a collector button, or a race track, not one car
leaves the store shelf without some added play value to go along with it. It
may not be obvious to the nine year old, but they instinctively know it when
they see it! Every customer does.
On the
surface these may be simple to understand, but it takes time and effort to
create a winning combination. Ask yourself these questions in the following
order:
- How do I provide "added play value"?
- Am I innovative? How?
- Am I evolving and remaining relevant?
- Am I authentic?
- What is my simple and compelling brand?
Question: What is your
added play value?
Thank you for taking the
time to read this post. I’d like to know what you think. Feel free to let me
know in the comments section below.
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