What Do B2B Marketers Do Now? is an ongoing email. Join the mailing list to be the first to receive these weekly insights!
Mick Jagger just had a huge birthday. Wow – the bad boy of rock and roll that sang against the establishment is now an 80-year-old British Knight!
Do you think these original rock stars ever thought they’d reach octogenarian status? I guess time really waits for no one…
Give this song by the Rolling Stones a listen with me as we see what the experts are saying this week.
Who’s a Rock Star…?
B2B marketers like to throw the term ‘rock star’ around a little too freely. But as Bob Lefsetz puts it, “A banker, a techie, can never be a rock star. BECAUSE THEY DON’T PLAY MUSIC!”
A term that once meant something has been bastardized beyond recognition. These supposed ‘rock stars’ want to be bankers, investors, venture capitalists… and they want the same money! We know Mick was always very business-savvy – is he a true ‘rock star’? I’d suggest reading Lefsetz’s post – it’s a great read.
But just because the term ‘rock star’ has been bastardized, that doesn’t mean the true meaning, the essence, has been lost. Back in the day, especially before the internet, it was nearly impossible to become a rock star – so we respected those who succeeded.
As marketers, what is the benefit of acting like a rock star? Is it about acting like you are successful? Is it about the reputation, the fame everlasting? Or maybe it’s less about ourselves and more about customer relationships. What do you think?
“Upcoming Changes to your Subscription”
Uh-oh. That dreaded subject line in your inbox. ‘Changes’ for streaming services (a.k.a. a price increase)… And yes, Spotify did just that last week.
The price rise is arguably overdue; perhaps Spotify, as one of the leading music streaming services, was sated in leisure for too long. But I’m curious to see whether this prompts labels to turn the screws for a greater payout.
As to their financial updates… it probably speaks to why the major labels are getting restless. On a high level, the top-line stats look good: more paying users, more active users. The problem is that when you dig a little deeper, it becomes clear that more meaningful metrics like the Average Revenue Per User (ARPU) show a continued decline, with ad revenue (derived from the free tier users) increasing.
Is it a race to the bottom?
The writing is on the wall: this current model doesn’t really work anymore, for anyone, no matter how positively Spotify tries to paint its results. That’s the negative. The positive lies in the potential to find new models, and to reexamine what drives that value connection between fans and bands.
Time waits for no one, and that includes B2B marketers! While our underlying go-to-market principles don’t change much, and potential customers are driven to us by the same things, the way that they get to us changes. And if we’re not keeping up, they’ll find their way to someone else instead. How are you adapting so you don’t fall behind?
As always, don’t hesitate to call me to brainstorm or just say hello!
Rick Endrulat, President | firstname.lastname@example.org | www.linkedin.com/in/rickendrulat