Fri 20 Nov 2009
Read a great 'manifesto' by Kevin Kelly last week on the plane on my way to Travel BlogCamp in London about how everything online is so easily copied, in turn resulting in 'over abundance', and thus decreasing the value to (near) zero. Or as he puts it:
When copies are super abundant, they become worthless.
When copies are super abundant, stuff that can't be copied becomes scarce and valuable.
When copies are free, you need to sell things that can not be copied.
Well, what can't be copied?
He's then come up with 8 categories of intangible value that we buy when we pay for something that we could get for free. Several of the points kept coming back to mind during the discussions of that evening in London, and it's really inspired me to keep these 8 points in mind when looking at how you differentiate yourself from your competition. Not just with products that are free mind you, there's absolutely no reason you shouldn't try and consider these when looking at products that everyone is happy to pay for (booking a hotel, buying a flight, insurance. Whatever).
So without further ado:
I'm not going to go into each one and explain them, as I wouldn't be able to do it justice here in in a short blog entry and you really should read the entire thing (it's a 15 minutes read). Suffice to say, you can download the entire manifesto free of charge via the most excellent ChangeThis website. I'd also like to quote one sentence that in my opinion sums up the very essence of why understanding social media is so important to business today, on- or offline.
Money in this networked economy follows the path of attention, and attention has its own circuit
Food for thought as you go into the weekend. Enjoy it.