3 Reasons an "Already Been Done" Idea Can Work
Tuesday, April 12, 2011 at 12:35PM
In my world I have been presented ideas to market only to have the owner give up. The main reason givin is that it is already been done. My message is "Done Give Up!" and here is why:
1. First to market doesn't necessary count you out. The first spreadsheet on the market was Visi Calc. It quickly lost share to Lotus 123. Lotus dominated for years but lost out to Microsoft Excel. I'll bet most of you did not know Visi Calc and Lotus 123 ever existed. Why did this happen? Windows came along. It was more user friendly. The takeaway: Products should be usable by a majority of people.
2. You don't have to be the best to have the greatest market share. In the days of the VCR there was a war between Sony's Beta and the VHS standard. Beta was clearly the best. So why did they eventually lose out to an inferior standard. Well the people behind VHS marketed their product to the people who really counted, the movie studios. The takeaway: Products should have support by the distribution channel.
3. Biggest user base doesn't me there is no room for a newcomer. Not too many years ago MySpace had cornered the market for social sites. Today it is FaceBook. But before either of those it was AOL. As a matter of fact over 70% of all users with email had an AOL email box. Where will it migrate next? Location based apps for your smart phone have become big news. Foursquare, Gowalla, Colors, Instagram, Neer and soon SwarmTrooper just to mention a few. Who will be on top or will they share users. I've been to events where I see a user check in on Foursquare and Gowalla, take Instagram pics, update Facebook locations and send Colors updates. The takeaway: The notion of "There Can Only Be One" just doesn't apply in a free economy.
Do you have a killer idea you gave up because it has already been done? Dust it off, finish it up and hire the Marketing Imagineer to promote it.
Fred Abaroa
The Marketing Imagineer
Fred [@] TMIFred.com
@TMIFred
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