Here we are in a virtual world. Digital music, virtual games, ebooks, online dating. Pandora’s Box is opened, and we can never go back on the digital world. Not that we want to. However, as evidenced in declining music and book sales, the value of a real product is diminishing. It’s too easy to find free products online that compete with going to a brick and mortar store (or even buying through online stores). So how does one create value? Here’s one idea.
Catching up on eveything, I stumbled across this article about vinyl record sales increasing. I chuckled to myself, then I read this:
“They [13 to 24 year olds] were brought up on virtual everything. Their games were on the computer or on the TV. Their music was in a box,” he [Steven Sheldon] said. “I think they also do recognize the difference in sound, but I think holding that 12-by-12 piece of art and holding that record in their hand is creating the buzz.”
The light went on in my head, again.
To add value to your product in a digital age, you need to add something real. Something intangible and scarce. That is what people want to have.
As music inches closer to becoming free, we all need to add something to the experience. Watching your favorite band live is an irreplacable experience. That night will never happen again, and you were a part of the history of the band. Being a part of an exclusive fan club for your favorite artist is another experience. As a member, you can be up to date on inside information. The artist communicates with this group in a special way. You have access to special products and/or offers that others do not.
This is the new music business. Finding ways to connect with others. Finding something to give your consumers something that no one else can. Consumers today can see through the ads. “Look at this, it’s the best ever!” doesn’t work anymore. Why is it the best? The best for whom? How does it compare to alternatives? If you can offer something that is real and authentic, then the right people will find you. That is why vinyl records are selling again. Most consumers don’t have them. They create some exclusivity to your brand. This is what you want.
Find a way for your brand to add real value. You just might come up with something big.
