“There is no such thing as a new idea. It is impossible. We simply take a lot of old ideas and put them into a sort of mental kaleidoscope. We give them a turn and they make new and curious combinations. We keep on turning and making new combinations indefinitely, but they are the same old pieces of colored glass that have been in use through all the ages.”
Mark Twain
While working on a project with a client, I started wondering if the new business idea we are developing needed to be novel or is it enough to be valuable – and which is more important?
Uber Value/Uber Novelty
I remember the first time someone told me about Uber. Getting a taxi wasn’t novel. Pushing a button on my phone and having a car come in a few minutes to take me somewhere. Now, that’s valuable. And, I don’t have to deal with paying them at the end.
Ride hailing apps are both valuable and novel. But novely wears off while value endures.
And, I remember telling so many people about the experience. It was odd and awkward at first – getting into a stranger’s car. But quickly, that didn’t matter, and the convenience had me hooked.
Note – I no longer own a car because Uber/Lyft exists. Well, my wife and I share a car – but you get the point.
My first exposure to AirBnB was a similar experience. It solved a big problem and, had a great story to tell. In case you are new to The Marketing Sage Blog, you may not know but I had a role in helping one of the founders, Joe Gebbia of AirBnB got started. (don’t be too impressed – it isn’t what you think).
Value Lasts Beyond Novelty
When we create a new business, the reason customers return is that we solve a problem, and the product or service brings value.
But to lift a business, it also needs a story that I can share with others that keeps the idea of moving. Think of novely like the extra thrust or lift that an airplane needs to get off the ground.
Novelty works the same way for a business.
You can take an ordinary idea – say a takeout restaurant and make it more valuable to a customer. How you operate that restaurant may create value because, for example, you run it like a charity. See A Place at The Table as a great example.
Creating word of mouth leverage is difficult. However, you can be serving a community who will cherish and deeply value what you create.
Starting a Business?
Answer these questions:
- Who will value what you are marketing?
- Will the value be easy to replace by another product or service?
- What’s the level of intensity that your audience will have for what you sell?
- Is the idea remarkable enough that customers will remark about it and share your story with others with a common interest?
- Will customers care enough for your business and miss you if your business disappears?
You may have a novel idea, but does it provide value that is hard to substitute and worthy of sharing?
Your product or service probably may not be novel. It is how you deliver value that can be special and create raving fans.
Need help to evaluate culture and strategy issues?
I can help. You can set up a time chat with me about your marketing challenges using my calendar. Our initial conversation is free. You talk, I listen. Email me jeffslater@themarketingsage.com or call me. 919 720 0995. Visit my website at www.themarketingsage.com. Let’s explore working together today.
Photo by Gemma Evans on Unsplash
