Shake things up – find new stuff

Sometimes you spend time and resources building features into your product only to find that customers don’t notice it. It can be frustrating.

For the past 7 years i had been shopping at the local Walmart. I knew where everything was and in which aisle. I didn’t have to think too much about it. Quick zip in and zip out process… a guys dream.

So last week, they closed the local Walmart and opened a Super Walmart nearby. Oh the frustration trying to find things. I must have spent at least an extra 15 minutes trying to find what i wanted (time i could have spent lying around on my couch). I did notice one thing though… I found and bought products that i didn’t know existed or were even sold at Walmart. They’ve probably always been there but i never went to those sections or aisles. How about that?

So let me draw a parallel and deduce that every once a while, you need to shake things up with your product. Move things around so people spend just a tad bit more time on your website/product and they may notice features that were always there but hitherto did not notice.

New product strategies for publishing companies

Love this presentation from Judy Sims… Very nicely summarized at the end of her post and i’ve quoted below. There are specific themes I’ve take the liberty of highlighting below that traditional publishers need to pay attention to –

The economics of media have shifted. Scarcity and abundance have flipped. This has caused hyperdeflation in media value and the end of the blockbuster era. Hyperdeflation can be countered by creating snowballs. The old media blockbuster economy was built on exclusion. The new snowball economy will be built by being open to aggregators, micro-platforms and re-constructors and capitalizing on economies of distribution, coordination and production.

This part i really like

In media 2.0 there are 3 sources of value creation.

Revelation – what’s good. (My comment: includes anything that helps our users get what they want – links from competitors, blogs; anything relevant to users – we should provide it.)

Aggregation – bring elegant organization to the huge amount of data I’m exposed to and

Plasticity – let me get my hands on your content to see how I can add my own value to it. (My comment: i.e. via API, etc)

This new economy requires radically different product strategies: letting the outside in, curation rather than ownership, becoming a part of an ecosystem, moving from mass to vertical content and viewing the site as a service instead of a product.

via The New Economics of Media and thestar.com – SimsBlog.