Category: Strategy

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Business Media Strategy

Renting vs. Owning

From BostInno.

Is the death of ownership upon us?

A recent Fast Company article by Josh Allan Dykstra, “Why Millennials Don’t Want to Buy Stuff,” explores the shift in buying behavior.

Humanity is experiencing an evolution in consciousness. We are starting to think differently about what it means to “own” something. This is why a similar ambivalence towards ownership is emerging in all sorts of areas, from car-buying to music listening to entertainment consumption. Though technology facilitates this evolution and new generations champion it, the big push behind it all is that our thinking is changing.

Dykstra’s point is well-made: both technology and our thinking create a new market for renting.

The future of renting

It’s not only the digital world that’s become rent-heavy. Earlier this year, The Altimeter Group’s Jeremiah Owyang asked about the future of renting on Google+:

You for rent: I can rent your HOUSE with AirBnB. I can rent your CAR with GetAround. I can rent your TIME and EXPERTISE with taskrabbit, crowdflower. What else can we rent in the future? What’s left?

The concept of subscriptions has created a culture of niche clubs. A fashion blog offers a monthly subscription for pocket squares (Put This On). A book distributor encourages monthly lending (BookSwim). There are even entire online communities for renting nearly anything (Zilok).

Through changes in consumer behavior and advancements in technology, is the concept of ownership on the verge of extinction? Dykstra argues that consumers are purchasing for reasons beyond the feeling of ownership:

People buy things because of what they can do with them… People buy things because of what they can tell others about it… [and] People buy things because of what having it says about them.

Millennials want access over ownership, streaming over storing, and rentals over buying.

Reacting to consumer behavior

The shift goes beyond millennials – businesses are now turning toward services via rentals or subscriptions.

Adobe recently launched its Creative Cloud service where businesses pay a monthly fee to utilize all of Adobe’s product offerings. Instead of paying for a license, designers, producers and creators can “rent” Adobe’s programs and services for as long as they like.

Adobe’s actions come as part of a much larger trend in services and content consumption.Netflix, Hulu and Amazon offer streaming movies and television shows that don’t require the purchase of a television or cable box, while companies like Spotify and Rhapsody offer a subscription music service.

Hardware technologies have followed suit – the storage industry blossomed with cloud offerings, removing consumers’ needs for local storage. Movies, music, photos and other documents can be accessed through the cloud and retrieved at anytime. Apple’s iCloud service and Rackspace are some of the most popular.

Without the need for massive hard drives, personal computers increasingly use flash storage as a faster way to access data. The capacities are significantly smaller but the responsiveness of the computer’s operating system greatly benefits.

In short, consumer behavior informs business strategies and decisions.

Renting in B2B

Does the same purchasing theory apply to B2B? It seems to be headed in that direction. At HB, we work with several businesses who offer their services as subscriptions and rentals.  The Meltwater Group provides a social media engagement service sold to corporations and agencies. We want access to data – not the data itself. Shutterstock offers access to an enormous library of photos and videos – none of which we pay for individually. Instead, our monthly subscription serves as our gateway to content.

We see consumer behavior shifting. But it’s the businesses – and how they will change theirselling behavior – that must change in order to survive. How will your business adapt to a culture of renting?

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Content Marketing Design Facebook Social Media Strategy

The power of the comment

 

From the HB Blog

Chances are you left a comment on Facebook or retweeted on Twitter today. If you’re fancy, you may have done the same on newer social sites Pinterest and Path.

Are we leaving blogs out in the cold?

Home base

Your business calls its web site and blog its home. Branded messages and campaigns may live on several (or several thousand, through AdWords) other web sites.

But your home page – and your blog – houses your customer community. A comment left on a blog comes from a true “subscriber,” someone who chooses to read your work or receive the latest updates through a news feed.

Design and media

Even better, the visual experience of a blog post far surpasses that of Facebook, Twitter, or other social offerings. As an author, you can work with your creative team to include video, photo galleries, infographics, or type treatments to call out specific parts of your post.

The main course

Sure – your Facebook page and Twitter might offer your customers the “sweets.” Giveaways, campaigns, and discussion can take on a life of their own.

But your blog – rich of nutrients and vitamins – is the main course. Treat it well and it will do the same for your community.

Categories
Content Marketing Measurement Media Social Media Strategy

Control vs. continuation: a shift in marketing strategy

From the HB Blog

Last week, I overheard a conversation between our PR team and a representative from a prominent wire service.

“When I started, we concentrated solely on media. We differentiated ourselves from our competitors through speed – as soon as you faxed something to us, we had two people proof it as soon as possible.”

That was only 10 or so years ago.

Then, media strategy stressed control. An agency suggested key messages – and that would be the only thing you heard from a business.

Lack of control

And then the internet happened. Through the birth – and rapid explosion – of social networks, companies soon learned a then-awful truth: they no longer controlled their messages and stories.

The customers had a new playground to express their opinions. Gasp!

Embrace uncontrollability

As companies learned to harness their networks over the last few years, the power of the customer grew exponentially. Companies now interacted directly with customers… and often, the customers drove business decisions. What a novel concept!

The shift to continuation

More recently, companies’ social strategies matured into something Gary Varynerchuk called “continuing the story.” Instead of fearing the uncontrollable, businesses began crafting their own story… and extending it online with a microsite, hashtag, or Facebook URL.

Customers are now characters, taking the beginning of an idea and crafting it into a story of their own, providing ample opportunities for brands to re-engage.

Now that’s continuing the story.

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Business Culture Strategy

How we work

From the HB Blog

We recently celebrated one year in our new office in Newton, a space strategically designed to draw people into one, central meeting space for planned discussions, and to several other collaborative spaces where impromptu meetings occur.

Despite our efforts, we are constantly reminded by folks like Jason Fried that meetings and discussions may not lead to optimal productivity. He argues the opposite is true – developing an environment where folks can work without interruption may be better.

The power of conversation

Is he right? At HB, we often say that “nothing beats a conversation.” We believe that issues can be efficiently solved with candid talk.

Similarly (as shared in the his biography), Steve Jobs believed the best work occurs when all parties sit together and hash out a problem – even if this results in screaming matches.

Less or more?

There are certainly times where some “alone time” can allow for incredibly efficient development. However, at HB, we pride ourselves on solving problems together with the client’s best intentions in mind. It’s that flexibility that offers a strong working environment.

So, how do you work?

Categories
Apple Books Business Content Marketing Strategy

The new publishing

From the HB Blog

Gone are the days where writers and content creators needed a publishing house to help them distribute their latest work. Today, a piece of content can be shared effortlessly through a company’s web site or social media channel(s).

Where does that leave books?

Going digital

eBooks exploded over the past couple of years – first, with the development of Amazon’s Kindle and Barnes n Noble’s Nook. Now, the iPad has taken the market to new heights. In fact, the move has destroyed some businesses – most notably, Borders.

Publishers and authors can decide to release a book… without printing. Via Amazon, Barnes n Noble, or the iTunes Store, users can purchase directly from a publishing house.

The self-author

More recently, authors are foregoing the business model all together. Rather than work with a publisher to determine cost, shipments, and logistics, forward-thinking creators can work with Amazon’s Domino Project to offer free, short-form books. A good example: Julien Smith, who previously wrote (and distributed in the traditional fashion) “Trust Agents,” released a book through Amazon with a free digital download.

Beyond reading

Apple’s latest investment goes beyond the printed word. Their iBooks Author program provides content creators another distribution stream… but with interactive content.

Authors can create books that feature animations, photos, and videos for use on the iPad. And they can be sold for as little as $0.

Opportunities abound

So we’ve gone from the printed word, to eBooks, to interactive offerings (all within a few years). Needless to say, the creation of free eBooks or iBooks should be a part of many companies’ future content marketing plans.