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One of my favorite business
writers now is Seth Godin, who has written numerous books on business,
mostly about marketing. More importantly, his books are about how
to make sure your business succeeds in a time when more and more
of your customers are being influenced by the Internet and the I-can-find-out-anything-with-a-few-mouse-clicks
buying culture that has evolved as a result of the Internet. You
may not think that the Internet has much influence over your business,
but it does.
Anyway, Seth is an insightful
and amusing writer who wrote a book entitled Purple Cow. A Purple
Cow is a company that has made itself remarkable in the way that
a purple cow would be remarkable - it's worth talking about. You
mention it to your friends and they mention it to their friends,
and so on. Here's Seth on what makes a purple cow: "Remarkable
is in the eye of the beholder. If the target market wants to hear
about it and wants to talk about it, then it's remarkable. Then
it's a Purple Cow." An excellent example of a Purple Cow was
Hotmail. It's a free email account that anyone can have simply by
signing up online. So you get a Hotmail account and then send a
zillion emails to your friends. At the bottom of every email you
send is a little notice telling how easy it would be to get a free
email account. The idea of a free email account spread itself like
a virus from one person to the next with almost no advertising.
With a little thinking,
you could make something like this happen with your business too.
What does it take to
be a Purple Cow? First, you
must stand out from the herd. Maybe you provide the lowest
cost version of your product, or maybe it's the fastest version
of your service. Whatever it is that you do better, stronger, faster,
cheaper, or smarter than your competition is your ticket to becoming
a Purple Cow. You must then find a way to target this advantage
to a community of customers who are clamoring for what it is you
do best. Let's call this your standout
feature.
Next, find
a target market that absolutely needs your standout feature and then find a way to connect with this market. Here you may need
to do some research. Who are your best customers? Which ones are
the most likely to need your standout feature more than any others?
Maybe there's a segment of the population out there you're ignoring
that could really benefit from your standout feature. Brainstorm
all the different types of people who have a need for what it is
you do best. The best target markets are communities, groups of
people who are in touch with each other regularly. This could be
parents who go to their kids' baseball games every week or business
owners who all belong to Kiwanis or Rotary or some other service
organization.
Then, find a way to
market your standout feature to your target market. Ideally, this
will come from something that is a part of your product or service
that makes a connection to your target market that is worth talking
about. For example, let's say your tire stores provide the fastest
tire rotation service in town and you want to promote that speed.
Why not give every customer a three-minute egg timer with your name,
address, and phone number on it? You'd be surprised how many people
find a good use for an egg timer and the connection to your speed
would ring true with your customers. Especially if many of your
customers are busy people who would really appreciate the speed
of your service. I think you get the idea here.
You remember the old
joke about a bad idea: "That and a quarter will buy you a cup
of coffee." Not any more. Starbucks changed all that. Starbucks
was a Purple Cow because they made it cool to pay outrageous sums
for an inexpensive beverage. Now Starbucks is everywhere and the
quarter cup of coffee (or its inflated equivalent) is a second-class
citizen in the world of coffee. That leads us to the best reason
to become a Purple Cow: it can be extremely profitable.
As Seth points out in
most of his books, there's not much money to be made by selling
to the middle of the population. Sure, McDonalds sells a zillion
burgers a year. But they're not very profitable. American Airlines
sends a lot of seats through the air every day. But are they making
much money? On the other hand, how profitable do you suppose those
earliest Starbucks stores were? When you make or provide something
that people need and want, you can charge what it is worth to them.
'Nuff said?
So what does this have
to do with employee performance? I'm glad you asked. The best way
to get great performance from employees is to give them great jobs
to do. What better job than to help you milk a Purple Cow every
day!
Besides, I really enjoy
sharing my favorite books with friends. I hope you'll read some
of Seth Godin's books soon. In fact, if you ask, I'll send you a
free copy of 99 Cows, Seth's companion book to Purple Cow. To request
your free copy of 99 Cows, simply send an email to: purplecow@jemperformance.com and I'll send it to you the same day.
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