The less remarkable a product is, the more that price becomes a factor. This is now evident as Starbuck’s coffee becomes ubiquitous. There was a time when Starbuck’s made me passionate about coffee when they first came to Los Angeles nearly 20 years ago. I often credit this passion for...
I want to know who it was who was sitting around and asking himself (herself) the question, “How can I leverage prison inmates’ obsession with poker to solve major crimes?” We may not know who asked the question, but the question has been answered: By issuing playing cards that highlight unsolved murders. The approach has already led to one arrest. What an idea!
Walt Mossberg has a great article in the Wall Street Journal about the stranglehold that wireless telecom companies have on the mobile phone business–limiting choice and stifling competition.
A shortsighted and often just plain stupid federal government has allowed itself to be bullied and fooled by a handful of big wireless phone operators for decades now. And the result has been a mobile phone system that is the direct opposite of the PC model. It severely limits consumer choice, stifles innovation, crushes entrepreneurship, and has made the U.S. the laughingstock of the mobile-technology world, just as the cellphone is morphing into a powerful hand-held computer. –Walter Mossberg, The Wall Street Journal
Mossberg also makes the great correlation between cell phones/wireless service and PCs/Internet Service. Competition would bring better products to the market at better prices for the consumer.
“And, yes, it probably would give us perverse pleasure to say ‘f*** you’ to this decaying business model.”–lead singer Thom Yorke in the Telegraph
The Telegraph reports that Radiohead’s recent gamble has paid off famously. Unbelievably, they chose to offer their latest album, In Rainbows for download for whatever price you choose. That’s right, $0 to whatever. “I like the people at our record company, but the time is at hand when you have to ask why anyone needs one,” lead singer Thom Yorke told Time soon after the band’s contract ended in 2003.
My initial thoughts when I first heard of the plan earlier this month was that most of the downloads might be to people who were choosing to pay little to nothing for the album, but that the press attention would go a long way toward getting enough downloads to make it possible to profit at least as much as if they had chosen to go the traditional record label direction (not to mention spread their music and make new fans). But remarkably (and I have to admit to being shocked myself), the average person downloading the album is voluntarily choosing to pay approximately the amount that a regular CD would cost. Additionally, many people are choosing to purchase the limited edition boxed set (that includes vinyls!) at a whopping 40 British pounds. Wow!
[update: Purebuttons has just paid $1,000 for the album to support Radiohead's challenge to the music industry...and here I am doing free advertising for them. Good job.]
[update: Silicon Alley Insider reports 1.3m downloads as of yesterday (Oct.12)]
My [brilliant and beautiful] wife made a simple observation revealing a generally truth that we all intuitively know: “It’s All Marketing.” From the product that we decide to create to the market we choose to target. From each and every design decision we make to each and every word we use to describe those decisions. When we decide to be socially responsible (or not), when our salespeople dress and talk a certain way, when we choose our locations, our buildings, our desks. When we treat our employees a certain way and create a certain company culture (after all, nothing is totally internal anymore), we are marketing ourselves. So, in every action, in every decision, choose thoughtfully.
Yes, as a person that has spent the past 22 years in one form or another of sales, I have done cold calling. I have even called people at home (though it made me feel dirty). And, of course, I have also received my share of such calls. The federal DO NOT CALL list was an answer to prayer for millions of Americans, but few realize that, as of Sept. 15, their registration on the list began to expire. That’s because there is a 5 year limit, after which people must re-register for another five years.
Newsweek reports that less than one-third of those who need to re-register on the Do Not Call list. According to them, marketers are ready to pounce. Chris Houchens makes the great point that people who didn’t want to be called 5 years ago, don’t want to be called today. I doubt there are many sitting around, saying to themselves, “I miss those calls…I feel so lonely.”
For those of you who do make those calls, keep in mind that you will rarely be seen as a person that wants to help the consumer solve a problem. You will never be seen as a consultant. Instead, you will spend most of your time trying to change the prospect’s (if we can really call them that) first impression of you as a rude intruder.
Mona Shaw of Bristow, Virginia, went at her local Comcast payment center with a hammer, smashing up some items, all the while asking, “Do I have your attention now?” After being arrested, the 75 year-old with a heart condition complained that the company had begun to switch over her phone service, then left it for four days and her without a phone. Apparently after many attempts to get the issue resolved, she resolved to take things (like a hammer) into her own hands.
As the world changes and as customers begin to have more choices, this kind of behavior will only come from the fading oligopolies (and few monopolies–check out Seth’s Blog) of the world.
If you have time for a bit of humor, check out Kramer’s rather elaborate cable man revenge scheme from one of the greatest series ever…
[youtube=http://www.youtube.com/watch?v=i86lyjM-UKY]