Tag: short stuff

Wants vs. needs? You’re selling both

Seth Godin, one of the best marketing bloggers I follow, says wants and needs are often confused. He writes:

That pays off for any marketer that has persuaded his market that they need what he sells. It backfires when those ‘needs’ are seen for what they actually are–luxuries.

I agree with Godin in both his point and his brevity. But in being admirably concise, he omits a noteworthy nuance. People are more eager to buy things they want than things they need. They’ll go to great lengths to pay the lowest price possible for actual needs – stuff like medicine, groceries, industrial consumables. But they’ll happily spend more on things they want – think wine, golf clubs, a redecorated office.

The point? While Seth Godin is correct that you’ll improve sales by persuading people you can fill a need, you’ll lubricate the sales process and increase pricing margins by convincing people that your product is also something they want.

As evidence, consider:

  • Dell v. Apple
  • Toyota Yaris v. Mini Cooper
  • Emerson audio equipment v. Bose

There’s a lesson for your marketing in that knowledge too.

Buy good equipment; take good care of it

Call this Rule #1 for life. Maybe it’s not the most important rule; it’s not the Golden Rule or even the Rule of 72.

Let’s call it the Hard Goods Rule: Buy good equipment and take good care of it.

Nothing provides better affirmation and aids in a better outloook than moving through the details of the day with equipment that works easily, well and with the rarest of failure.

If you need to buy a printer for your office, don’t settle for the $25 model that comes along as a premium with your computer. I’ve learned that lesson too many times. Go out and spend what you it takes to buy a durable, solid printer that runs and runs. Buy the features you need and just pay the price. If you find yourself leaning toward a cheap compromise, imagine yourself being late out the door and suddenly remembering a document you forgot to bring along. You’re in your winter coat and boots, leaning over the computer, the dog is barking because he thinks you’re going to take him for a walk, and you get a paper jam, or a message that the printer is out of magenta. With a cheap printer, this seems to happen 1 out of 2 times (thought it’s probably more like 1-in-5).

Visualize this and you’ll spend the good money.

A corollary to this rule is the Hard Goods Corollary: More power/fewer features.

Here are some tools and equipment to which the Rule of Hard Goods and Corollary apply:

  • Computer printer
  • Power tools (A drill shouldn’t drill just some stuff. For an extra $60 you can get a drill to drill any stuff. That’ll amortize to about $1.50 anytime you need to drill something really hard over the next 10 years).
  • Lawnmower
  • Computer (The reason people pay more for a Mac.)
  • Camera
  • Snowblower (If you want to wrestle with a piece of equipment, you’ll spend less and fare better against a snow shovel.)
  • Winter coat
  • Washer/Dryer (It’s all about power. Features break over time; a powerful machine runs forever.)
  • Stapler (Unless you never plan to staple more than 4 sheets at a time.)
  • Sporting goods (Whatever your passion – golf, tennis, baseball, sailing, jai alai – equipment that doesn’t go all the way just saps the fun. You may as well stay home to figure out what’s wrong with that g-d- Scanner/Copyer/Fax/Printer/Stickintheeye.)

There’s a place in the world for cheap stuff. If you’ve never been camping, never want to go camping, but you absolutely have to go camping just this once for one night with your son and the Cub Scouts, then go to Wal-Mart and buy the $39 two-man tent. You can buy a good tent for the next time you go.

The Rules of Social Media Content

Rule #1:
They don’t care how much you know until they know how much you care.
(Attributed to many sources including Theodore Roosevelt and Martin Luther King Jr.)

Rule #2:
It’s not about what you say; it’s about what they hear.

Rule #3:
Fast. Short. Meaningful.

Rule #4:
An incomplete solution now is better than a complete solution later.

Rule #5:
Instead of giving a lecture, tell a story.

Rule #6:
You can’t educate ’em if you don’t entertain ’em first.

Rule #7:
You can keep your audience busy with quotes and retweets. But to build an audience, you need to be original.

Rule #8:
Of course you’re there to sell. But your audience isn’t necessarily there to buy. Remember it and respect it.

Rule #9:
One sales pitch for every 20 pieces of non-selling content. Maximum. And that’s if your content is really good.

Rule #10:
More like H.L Mencken. Less like Billy Mays.

Rule #11:
You’re not a guru until OTHER people call you a guru; so don’t even bother trying to prime that pump.

Rule #12
Write like you talk, and talk well.

(More to come, or suggest your own)

A morale-boost for beleaguered newsies: E&P lives

Editor & Publisher – was shuttered in December by its owner, Nielsen Business Media – has been sold and will continue to publish, according to a report by Folio: magazine. E&P is more than 100 years old, and has been the leading trade publication of the newspaper industry for most, if not all, of its history. Its demise was a blow to the gut to journalists everywhere, who for the last few years have watched the apparent meltdown of their industry’s fundamental business model.

The new owner is Duncan McIntosh Co. Inc., based in Irvine, CA – a white knight that rides in, not on a horse but on a powerboat. Duncan McIntosh is a consumer marine media company whose properties include Sea Magazine, The Log newspaper and, most notably, Boating World.

There’s no deeper meaning to this. It’s just nice to write about  a company that sees the value in a storied brand, tradition and a franchise that serves the media industry. No surprise that the company isn’t one of the diversified media giants, for which earnings multiples are the only meaningful metric.

The Adventure is over

ngadventureNational Geographic Adventure has lost its passport. It’s the latest casualty in the 2009 media meltdown. Staff was told today that the magazine, a 10-year-old extension of National Geographic, would close, according to a report by Folio:.

Seventeen staffers will lose their jobs, the report says. The brand will continue online and with other affiliated products.

Fun with spam, Lesson #113

Content generators – we used to call them writers and reporters – are having a tough couple years. But they can rest easy on this evidence that, of the many indignities they may suffer, offshoring their jobs isn’t likely to be one of them anytime soon:

__________________

Sender: ydasyl@aol.com
Subject:     We transform one dollar into one thousand!
Date:          November 28, 2009 3:10:53 PM EST

Do you dream to have a rest with family this summer, but there is no money for this purpose? We shall prompt you the decision of this problem. Everything, that is required from you, it to register at the site of our online-casino, fill up the balance for ANY sum, which is suitable for you, and to start enjoying the gambling. You needn’t to be the master of board games to win huge money here. It is checked up by time!

People will pay for online news? Now we’re talkin’

A study by Boston Consulting Group indicates people are increasingly willing to pay for local and national news delivered to their mobile devices.

On average, according to the study, the price would have to top out at about $3 a month, which admittedly isn’t much. But it offers two strong points of optimism:

People are willing to pay SOMETHING for what was previously assumed to be of no commercial value.

$3 a month, for a product that no longer has the production or distribution cost of a printed product, is worth far more in the way of earnings than it would be for a traditional media product.

No, this isn’t proof that consumers will pay the full cost of journalism. But does demonstrate that they are aware of the pressure that traditional media models are under as advertising revenue continues to erode; and that they are warming up to being part of the solution.