The Oscars...And A Marketing Lesson
If you've watched the Oscars over the course of your life, you've noticed
that there is a certain order to how the awards are presented.
Well, last night, they broke with tradition.
Lately, the Oscars have had terrible ratings, at least in comparison to the
glory years. So, when the heard all the buzz about people really only wanting
to see if Heath Ledger was going to win for best supporting actor, they
decided to move that award to later in the show in an attempt to get
people to stick with the Oscars longer. And, to make sure they did, it wasn't
announced anywhere exactly when the award would be given.
This is pure marketing. They saw what people wanted and gave it to them
in a way that would maximize their revenue.
I haven't seen the ratings from last night's show but I'm going to go out
on a limb and bet that it was the best rated Oscar show in years.
Sure, they needed a great product (Heath Ledger) to make it possible, but
once they saw they had it, they capitalized on it.
And, though I am sure many won't agree with this, they knew enough to
make sure he won the damn award or they knew there'd be a riot in the
building (not that he didn't deserver it. I saw Batman and he was amazing)
So, how does this apply to you, your business, your market and your
product?
Just as the Oscars did, you have to keep your eyes and ears open to see
what it is that people want. You then have to figure out a way to give it
to them in such a way that they're practically beating down your doors to
get it.
This is done by using things like surveys to find demand, a big buzz to
build the frenzy, scarcity to cause the riot and so on.
It isn't rocket science. Probably the hardest part of the whole process is
finding out what people want so that you can give it to them. And even
that isn't THAT difficult. It just takes some legwork.
Go to forums
Go to discussion groups
Put up surveys on your blog
Go see what the new hot products are at Clickbank.
There's enough info out there to find out what people want.
The Oscars got it right last night.
Finally.
that there is a certain order to how the awards are presented.
Well, last night, they broke with tradition.
Lately, the Oscars have had terrible ratings, at least in comparison to the
glory years. So, when the heard all the buzz about people really only wanting
to see if Heath Ledger was going to win for best supporting actor, they
decided to move that award to later in the show in an attempt to get
people to stick with the Oscars longer. And, to make sure they did, it wasn't
announced anywhere exactly when the award would be given.
This is pure marketing. They saw what people wanted and gave it to them
in a way that would maximize their revenue.
I haven't seen the ratings from last night's show but I'm going to go out
on a limb and bet that it was the best rated Oscar show in years.
Sure, they needed a great product (Heath Ledger) to make it possible, but
once they saw they had it, they capitalized on it.
And, though I am sure many won't agree with this, they knew enough to
make sure he won the damn award or they knew there'd be a riot in the
building (not that he didn't deserver it. I saw Batman and he was amazing)
So, how does this apply to you, your business, your market and your
product?
Just as the Oscars did, you have to keep your eyes and ears open to see
what it is that people want. You then have to figure out a way to give it
to them in such a way that they're practically beating down your doors to
get it.
This is done by using things like surveys to find demand, a big buzz to
build the frenzy, scarcity to cause the riot and so on.
It isn't rocket science. Probably the hardest part of the whole process is
finding out what people want so that you can give it to them. And even
that isn't THAT difficult. It just takes some legwork.
Go to forums
Go to discussion groups
Put up surveys on your blog
Go see what the new hot products are at Clickbank.
There's enough info out there to find out what people want.
The Oscars got it right last night.
Finally.