We all know that the basic tenet of economics (and business in a sense) is the inverse relationship between supply and demand. The greater the supply versus the demand, the lower the price, and vice versa.
I think this model, while generally an accurate depiction of how business and economics work, vastly simplifies the human/emotional factors of the equation.
In this social media/Web 2.0/transparency-via-the-Interwebs world, I believe the new “formula” should be Access and Opportunity:
- Access meaning allowing for connections to be made, getting into a select club, building new pathways to opportunity, etc.
- Opportunity should be self-explanatory, but it’s essentially what you’re able to do with the access that you’re given.
From the business perspective, ask yourself these questions about what your product, service, or marketing programs are doing:
- What kinds of access are you providing your customers with?
- What kinds of opportunity does that access enable?
Think about this a little further. Let’s say you want to start a new email marketing campaign for your customers. How would your planning be affected if you thought about it in terms of access and opportunity?
- Would you make your email list out to be like an exclusive club? A “first-to-know” insiders club?
- Would you make an “email-only” offer? Or would you use email to announce storewide incentives?
These are only examples, but I think it’s an interesting way to think about your business and marketing objectives. After all, everyone wants to get access and have opportunities to achieve fulfillment in different ways. How can you help them do it?
In the words of Chris Brogan, what say you?
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