Do Right by the Customer = You Can Never Go Wrong
Amazon just announced something that many would consider to be revenue-suicide for a bookseller: a Lending Library. But if you think of Amazon as a hardware company, manufacturer of the Kindle, it is a stroke of brilliance.
It stems from or is supported by the Network Effect, which states that the value of the network grows in proportion to the number of nodes or members of the network.
A virtuous circle: the lending library may cut into sales of ebooks, but that will be more than eclipsed by the number of Kindles sold (and goodwill generated) by the PR from this program — which in turn drives more authors to write for the Kindle platform.
NOTE: this program took work (lots of it — in terms of analysis, marketing communications, and certainly software development) but represented no addition hardware SKU’s or stock keeping units to carry.
It is a classic example of a marketing program that any business can develop to bend or break the rules for TOMA — top of mind awareness — for customers.
How can you do right by them today?
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One Comment to “Do Right by the Customer = You Can Never Go Wrong”
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I love reading these articles because they’re short but infroamtvie.