Radiohead has really started something with their “pay whatever you want” system. It was astounding to watch other musicians follow in their path (Jamiroquai, Oasis, etc) but it’s starting to spread into other industries. Paste Magazine is now offering a “pay whatever you want” subscription fee (with a minimum of $1).
Granted, a magazine based on music isn’t a leap away from CDs, but what if this was the new way of doing business? What if we could decide how much we wanted to spend on everything?
My guess: it would separate the good marketers from the bad ones. The bad marketers would become beggars, while the good marketers would become friends. The success of a business would rely on the relationship with the customer, and if the relationship was good and natural, the business would prosper.
The bad marketers would be creating powerpoints to train their employees on how to be effective customer service agents. The good marketers wouldn’t need powerpoints - they would already have the inherent skills necessary to establish good communication with consumers. The bad marketer would find any way to contact you, the good marketers would create value to draw you in.
Not everyone can do what Radiohead did, not immediately anyway. This is because you can’t really teach employees how to be good at establishing relationships and telling stories. Your company or product has to have inherent value before you even make a penny.
This is why an album that no one had heard yet generated so much revenue. The relationship with the fans, and the inherent value that the band had established drew everyone in. I want that same experience again and again with all of the products that I buy.
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