This is the fifth in a series of 14 marketing trends adapted from Seth Godin’s book Meatball Sundae.
- Marketing Trend #1: What’s the Big Idea?
- Marketing Trend #2: Attract the Interested
- Marketing Trend #3: Slice and Dice
- Marketing Trend #4: Strengthen and Outsource
The Flip of Demand and Supply
In the Old Marketing, some things that were scarce are now abundant. For instance, shelf space used to be hard to get because it was in limited physical supply. Thanks to the Internet, shelf space is limitless – just ask Amazon.
In the New Marketing, some things that were abundant are now scarce. For instance, attention. We’re so flooded with messages that you’ve only got 10 seconds to capture my attention on your website or I’m clicking elsewhere. There are 10 million other sites to look at!
It’s difficult to be profitable when what you’re selling is abundantly available. To make a profit you need to be offering something that is relatively scarce so consumers will pay a premium for it.
As mass marketing dies new opportunities based upon changes in scarcity and abundance will emerge. Look out for them.
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This is from the Book Rapper issue Marketing How-Now that is derived from Seth Godin’s brilliant book Meatball Sundae.