In this video, Scott Galloway talks about several services I interact with on a daily basis. Snapchat, Facebook, Amazon, Walmart, Apple. All these companies are common but Galloway discusses why some are more successful than others.
Spotify v. Apple Music
Though I am not quite an audiophile, I do enjoy music as much as (if not more than) the average person. Spotify and Apple both have streaming services that allow users to listen to musics from thousands of artists, but I definitely prefer Spotify. Why is that? Well, I enjoy my usual playlist, but I also want to find new music. I find it much easier to find new artists I like with Spotify because they analyze what I listen to. They create a "Discover Weekly" playlist for me to listen to each Sunday to find new music. And as an added bonus, they send me an email at the end of the month telling me my most played songs, the number of unique artists and tracks listened to, etc. It is equal parts interaction and intelligence.
Amazon v. Walmart
No surprise here, I prefer Amazon to Walmart. Though I do a buy some groceries from Walmart, it is rare I venture in there for non-grocery items. Amazon offers 2-day delivering directly to my door which is convenient enough that I do not mind the wait. Amazon shows me relevant items, offers surveys, etc (again). Walmart just feels impersonal and un-tailored like a suit that is "one size fits all".
I know this class is more focused on small scale business ventures, but it seems the underlying point in what we learn is that some principals in business are constant. Creating something for a customer that feels personal and relevant can go a long way to establish your brand. I believe that a company NEEDS to be intelligent and interactive. It is increasingly easy to gather user data, but often times it seems that user data is squandered on deciding what items to stock up on. Inventory is important, but having a better experience for customers can increase your movement of inventory.
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