Scarcity and Value (and BPM)
stop selling scarcity and start selling value. It is a principle that can be applied to a great many businesses, not just the “Web 2.0” world, but as he points out, education and consulting as well. His advise to advertising businesses: sell the outcome, don’t sell the scarcity of your space!In the Content world, he points out that content just isn’t scarce any more. The existence of this blog is actually just one more data point to that effect! Information is not scarce either – with Google at our fingertips. He goes on:Great article from Jeff Jarvis advising companies with nonphysical goods to
Thus we have performers and consultants. There is still value in unique performance. We will continue to buy tickets to concerts by stars (but we won’t pay for the Muzak covers of their songs on elevators). We will buy books. We will pay to sit in a movie theater with popcorn. The new competition in the case of media and performance isn’t that someone will make a good-enough version of what we do but that there is more call for the public’s attention. Quality is a scarcity. But it is a real scarcity.The challenge is, there has to be recognition that:
- You (your company, your product, your content, etc.) represent quality, and
- Your level of quality is discernably and valuably differentiated from other sources of similar product, content, expertise, etc.