I just finished reading Seth Godin's Book- Purple Cow. Seth Godin stresses that in order to be successful in a crowded marketplace, you need to create a Purple Cow. So what is a "Purple Cow"? Put simply, a Purple Cow is a remarkable product. The product is so remarkable that it sells itself to a specific target market, without a large marketing budget. For example, Starbucks was remarkable in offering superior customer service to coffee enthusiasts. The word spread amongst coffee enthusiasts and eventually spread to the general public. Now Starbucks has a huge marketing budget, since it takes a mass market approach. However, when Starbucks was first getting started they relied primarily on word of mouth. They relied on the hype of their purple cow to generate their sales.
CD Baby is a Purple Cow. They are the largest online distributor of independent music. They have created a website where they hope you will find your new favourite artist. So what is so remarkable about CD Baby?
1. They provide advice to aspiring musicians through their blog The DIY Musician (http://diymusician.cdbaby.com/). Their blog illustrates that CD Baby doesn't exist solely to make a profit, but instead to offer assistance to those who share their passion. How refreshing is it to do business with someone who is so passionate about what they do? Don't you think lack of passion in one's career is too common of an occurrence?
2. They truly care about the well-being of their artists. In a major record deal, artists typically make $1-2 for every album that they sell. At CD Baby, artists make $6-12 per album.
3. They pride themselves as a website that is run by artists FOR artists. The employees at CD Baby can easily relate to aspiring musicians, and this makes doing business more enjoyable for both parties.
CD Baby has taken something boring (buying music) and made it remarkable. I encourage you to visit their website if you haven't already (www.cdbaby.com), and maybe you'll find your new favourite artist.
No comments:
Post a Comment