Hey friends,
Welcome to Episode XXVII of Market Curve - a bi-weekly newsletter exploring the intersection of marketing, writing and persuasion.
I’ve been thinking a lot about value the past week. God knows we have this word strewn around like confetti all around us. But what is the deal with value anyway?
Let’s see, shall we?
In the off-case you’ve been living under a rock, you must not be familiar with NFTs. They’re called non-fastidious-tradeoffs.
Okay, I’m kidding here. They’re called Non-fungible tokens.
Here’s an extract from Wikipedia":
A non-fungible token (NFT) is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. While copies of these digital items are available for anyone to obtain, NFTs are tracked on blockchains to provide the owner with a proof of ownership that is separate from copyright.
And NFTS are being bought and sold for millions. And these are JPEGs - normal pictures we’ve had in our computers since when we were kids. Except now, with the aid of crypto, internet with a pinch of scarcity, JPEGs are worth millions.
Which brings me to the point about value. A JPEG in a computer has zero economic value but now that same JPEG costs 1 million times as much.
This points us to the conclusion that value is subjective - it’s in the eyes of the beholder. I did not necessarily agree with this a year back. But now I do.
Earlier, I used to think a bottle of water is a bottle of water anywhere in the world. But it’s not. A bottle of water in the Sahara will be far more valuable than a bottle of water in the USA.
Same for airplanes. A plane ticket gets you from point A to Point B. That’s the main goal of the plane ride. Yet, there’s a high probability that the passenger sitting next to you has paid a different price than you.
Maybe he wants that window seat and has paid a premium for that. Maybe some other person wants food on the plane and has paid a premium for that.
Each one of them has a subjective perception of the value of a particular good. Meaning your product will be irresistible to the right group of people and “meh” to others.
It’s your job to separate the “meh” customer from the “hell-yeah” customer.
This is something I’m learning too :)
Today at a Glance:
Idea: Mitigating failure in complex systems.
Quote: David Ogilvy on putting your customer fist.
Article: Nail Product Positioning on your landing page.
Tool: 2x your landing page conversions with the ultimate landing page guide.
Question: Your favorite marketing tip.
One Idea:
Complex systems are everywhere around us. Eg: Business, Human Biology, Society etc.
One of the core principles of complex ideas is that they have elements of failure built into them. In other words, failure is inevitable in any complex system.
The trick then is to not to try and prevent failure but prevent the effects of failure from collapsing the entire structure.
What can you do today to mitigate the effects of that failure?
One Quote:
The customer isn’t a moron. She is your wife.
- David Ogilvy
In the business world, it is often common practice to start building without even figuring out consumer demand. I’ve been guilty of this too.
Paul Graham said it best - “Build something people want”.
One Article:
How to position your product on your landing page - a 5 step guide.
Product positioning is creating a perception of your product showing its most powerful benefits to the customers that care most about it.
But why is this narrative important?
Positioning helps your customers perceive your product in a way which is defined by you. It's you who calls the shots and dictates how your product should be perceived. In other words, you give your customers a frame of reference using which they can judge your product.
This article lays down the 5-step guide you can follow to create a killer positioning statement for your product.
One tool:
This weekend, I spent a few hours crafting the ultimate landing page copywriting framework.
I've audited 100+ landing pages, written 50+ landing page copy and 10,000+ words on how to increase conversions on your landing page.
Each time I write a landing page copy for a client, I use this exact 6 step process that I've built myself to write killer landing page copy that brings in leads by the minute.
Now it's yours.
For just 9 bucks.
Get the Ultimate landing page copywriting manual
One Question:
What is the ONE marketing/sales tip you want to share that has worked for you?
Reply to this email below with your favorite one. I promise to reply thoughtfully to your email.
That does it for Episode XXVII of Market Curve. Join the 136 other marketers and founders who are receiving high-signal, thought-inducing and value-centric content every single week!
If you want to get in touch, you can respond directly to this email or reach out on Twitter.
Always excited to meet like-minded people!
Until next time!
— Shounak.