Oct 14 2007
Give Your Product Away FREE… Get massive publicity, and increase your PROFIT
The record industry are running around with expressions similar to Chicken Licken’s at the news that Radio Head (????) have ditched their record label and are offering their latest album, Rainbows, with a sales pitch that says, “THE PRICE IS UP TO YOU“…
There are two (I’m sure there’s more, but two sounds far more authoritative, and I don’t have time to write more) very important marketing lessons to be learned from this.
1. The value of FREE publicity gained by giving stuff away, can far outweigh the cost of the item.
2. The new digital economy is forcing many businesses to reinvent their revenue models.
For the past few years, nervous record companies,( incited by lawyers eager to squeeze the last few billion dollars, from what they know is a dying industry) have vainly try to prosecute 14 year old kids and old ladies in a useless attempt to ward off digital piracy.
“THEY LOST” (It’s never a great business idea to threaten the majority of your customers, especially when they are laughing at you.) To survive, record companies are going to have to slash the prices they charge and adopt different methods of revenue raising, such as live concerts.
THE CHALLENGE IS THIS…
What are you going to do in your business tomorrow, that is so remarkable, that it will gain you massive amounts of FREE publicity. And, how is this digital age stuff changing your business models?
BE WARNED
Don’t think for one moment your industry is safe from all this CHANGE STUFF, it’s not… If you do, the next thump you hear, will be your industry falling off the evolutionary tree of continual change and savage free enterprise competition.
Thanks to John at Business Opportunities and Ideas for prompting me into this little rant.
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