Times they are a changin’.
25 years ago people were looking to spend their free time doing an activity to interact and relax; everything from hanging out with friends, going to a movie, and shopping for virtually anything. If you couldn’t connect in person, you would walk around the kitchen, wrapping yourself in the corded phone that was connected to the wall.
Those times are gone. We now have less time to be able to recreate because of increasing work hours, smaller average buying power, and greater family commitments. Thankfully technology has been able to fill some of the void by offering access to many things from the comfort of our own home. The FAANG stocks (Facebook, Amazon, Apple, Netflix, Google) have changed our lives completely and here’s how:
Hanging out with friends
Thank you social media for allowing us to stay home and talk to all of our friends, hear about the stories of what is going on in their life or seeing photos of their most recent trip or event. We now have the ability to virtually interact with people in many different ways. Our downtime is filled with this social connection at your home, work, waiting in line anywhere, or even while sitting at a table WITH your friends. Facebook and Instagram have taken the attention from many other activities and focused it into a small screen in your hand.
Going Shopping
Or should I now say going shipping! The former need to go to a store and ask the sales people what they had for new computers, tv, dog food, bicycle lights is no longer necessary. Have you heard of AMAZON.com or the Alphabet company (Google and YouTube)? These companies have not only figured out how to get people to do most of the entry work and content creation for their sites but they offer FREE SHIPPING and reviews of products that you are interested in buying. The most popular product videos offered on YouTube are unboxing and first use videos. These offer viewers the initial experience without having to leave their home or workplace.
Going to a Movie
Today,(Aug 2, 2017) AMC Entertainment announced their horrific Q2 earning and future revenue expectations to stockholders that sold off as fast as they could click the SELL button. With popcorn and soda combos totaling near $20 per person and a $15 ticket price, its hard to walk out of the theater without dropping $60-$80 for two people. For a family of 4 it’s over $100. That’s 10 months of NETFLIX and or a year of HBO! The movie entertainment portion of our life has been taken over by season long binges of Game of Thrones, The Ranch, or many past seasons of shows that are currently on tv. If you want to waste a day watching something, NETFLIX has it.
Where can I do all of this, you ask?
To make all of this happen, we have to have a simple platform that makes it convenient to be able to talk to friends, see them, and be entertained when those friends are not available. Enter the second A…APPLE computers. Not only do they have phones but they have “smartphones” that can help you shop, SEE your friends and family, and bank. In addition, they make notepad-sized screens called iPad to watch all of your NETFLIX shows or order on Amazon. Want to catch up with your friends? An iPad is a tablet sized window to see photos and videos of your friends on a nearly 8×10 size canvas. Still too small? The Apple TV gives you the ability to watch Netflix, Amazon, or your computer screen on your TV screen. The Apple APP store will give you the access you need to make all of these happen.
WHAT DOES THIS HAVE TO DO WITH RUNNING MY BUSINESS?
EVERYTHING!
So I ask you the title question…
Do you offer a service, experience, or memory?
If you consider your business just a service, there is little chance for it to grow. People are no longer just looking for something to do, they are looking for some content to share! With the platforms and technology available, they are looking to put something up that says “Look at the GREAT thing I am doing.” At this point, you have transformed your activity, service, or experience into a shareable memory. Memories are what positive word of mouth was 25 years ago. If you can make a memory, it will be shown to thousands of people. (Most people have more than 300 friends, just 3 likes or comments gets the experience in front of thousands of eyes!)
However, if your service is poor, it turns into a bad experience that is shared to the same amount of people in a negative light. (Maybe more depending on how poor!)
Go out of your way to make their time with you a shareable memory and you will reap the benefits in ways you could only imagine.
If you have any questions or need some help turning your service to a positive shareable memory, stop by our website at www.rockholdandassociates.com or send me an email at Jason@rockholdandassociates.com.