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Well, I must admit how surprised I am by the manner in which I’ve retrained my brain to view every product and experience from a marketing perspective. As I spent a few days at Disney in Orlando, FL, I tried to get out of the work mindset, but kept finding myself thinking in terms of monetization and marketing rather than fun and relaxation.
Don’t get me wrong, I had a blast with my family and I am ever so grateful to be home from Afghanistan, but I really enjoy what I do and I can’t help but be influenced by it on every occasion.
Now, what Disney has done is monetize in such a thoroughly remarkable manner, that you cannot help but make it out of there without giving them more than you intended to. How do they do it?
Well for starters, every single ride ends in a gift shop. It is fairly easy to see why they do this and they don’t make any apologies for funneling you into their theme gift shops immediately after a ride. However, even though I am aware of the tactic I still find myself wanting to tap into the experience by memorializing it with a gift. My kids are tugging on my arm for various stuffed animals or nick knacks and in an effort to see them smile I make a purchase…at each and every single shop!
Now, don’t get me wrong here…I’m a sucker and I am not beneath paying my kids for a smile (they know this), but what Disney has done here is let you capture a portion of the experience and take it home with you.
Now, how can you do this with your business? Well I have learned that when people buy from you or your competitor, they are generally buying based on more than just the product description. People don’t spend a lot of money and when they do let go of a few hard earned dollars, they want the buying to be an experience and not just a quick parting of the ways with their cash. As a business owner, it is your duty to make buying from you an experience that people will enjoy. If you have a theme, integrate it into every aspect of your business website or homefront.
Be remarkable in the way that you capture the feeling of your product within your own walls (physical or digital). Take your customer on a wild ride, give them something for free to show what you can offer, and then funnel them into your store. If they enjoyed your ride, then they will most likely buy from you.
You can do this with email newsletters, with free eBooks, or any other digital medium. This is where your USP comes in and where you can really differentiate yourself from your competition.
Another thing that Disney did amazingly well was to monetize every little thing they could. You could buy a drink and get a super duper awesome cup for a ridiculous price of $8.99, get your picture with Darth Vader, get a night time glow in the dark thingy that looks awesome even though you have no use for them otherwise, or just buy a really expensive autograph book so you can stand in line all day to get autographs of men dressed in character costumes. Yes, Disney does this very well and they’ve learned how they can charge more than standard prices for goods that are nothing out of the ordinary.
A T-Shirt from Disney, something you would expect costs 20 bucks, cost around $35…but how do they get away with this? Well, they offer an experience that no one else can. They have learned how to create a premium experience, which is exactly what Disney World is imagined to be. There park is nothing spectacular, but they create an amazing experience that your family will never forget. Their employees all smile, they have amazing parades and fireworks, and they do little things like sprinkle pixie dust on your little princess to get her to smile the rest of the day. They also own Mickey Mouse and the rest of his friends, not to mention the Disney movie stars, like Princess Jasmine or Aladdin…the list goes on and on. Disney has created an empire of experience and in going to the park you get to suspend disbelief and become a hero for a day. You get lost in the magic.
To apply this philosophy to your business, you need to #1 – overdeliver always. Always underpromise and overdeliver if you can help it, because you will create a customer experience that is heightened and creates euphoria. People want to shop where they experience pleasure in the process. You can do this with your customer service policy.
Also, make sure that you monetize everything you can – within limits. I’m not talking about taking every dime from your customer, but instead consider giving them a chance to spend their money in any way that they want to. Offer bulk packages and single packages. Break up your merchandise into singles so that customers can buy “ala cart.”
Segment your market so that you can offer target specific products and merchandise. For instance, let’s say I sell meditation products. My job is to find out what types of people are looking at my store so that I can create an experience for each of them. Some people meditate religiously, some for stress relief, and others because it just feels good. I could create an email campaign for each person and then create a different product or package for each of them. The goal here is to let people buy what they want, not to force them to buy a certain product because it is the only one in your store.
Lastly, give people an opportunity to buy at every turn. This doesn’t mean you need to force your products down their throat, but you can integrate a buy now button on any webpage or email. You can put it in the sidebar of your main site or in a nice letter delivered to their home address. Let people buy every part of the experience because you never know what they’ll have their sites on.
Sure, business isn’t all about making money, but you shouldn’t be afraid to let your customers buy from you in any increment they choose. Create an experience that cannot be duplicated by your competition and offer them something at the end of their ride to remember their good time. Buying and selling is more than just a dollars game, it should be an experience that neither party will forget.
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