The Value of Experience

Unlike the foundation attributes, it’s rather difficult to quantify the experience attributes in terms of their effectiveness. But make no mistake, these are the make-or-break factors; most personal decision making is based on a combination of both rational and emotional factors. To the provider, this could provide valuable revenue at minimal cost.

Consider another experience – eating popcorn. Rather trivial and relatively inexpensive; nothing special about it, under most circumstances. But if you’re on a visit to the movies, the situation changes. Watching a movie without popcorn? That’s heresy. People gladly cough up anywhere from 5 to 10 times the normal price, without batting an eyelid; in fact, cineplex owners make more money on the popcorn and drinks than on screening the show.

With a compelling enough experience, the willingness to pay and to use increases dramatically; to the point where it becomes a source of competitive advantage and lock in. It has to be a Mercedes Benz, a Beemer or a Rolls Royce; ordinary cars are, well, ordinary. It has to be DisneyLand – ordinary theme parks can’t compete.

For Web 2.0, the same holds true. Youtube works, Google Video didn’t. Don’t ask why – most users can’t tell you, but they feel the difference; a factor so strong that Google chose the “join them” by paying the price.

In addition, the user driven element – for creation, customization, and using the building blocks rather than a finished product – makes costs much lower. And the chances of success higher. By empowering the user, you don’t lose.

Getting on the Net : $20 or more per month, for DSL.
The feeling of Freedom, of having MySpace : Priceless.

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