We Build Experiences Not Products

July 3, 2014 Meghan

SOL Republic

“Musicians are modern day storytellers. Their songs unite a nation, ignite a revolution and move mankind. Their songs deserve respect. Their music deserves great sound.” – Seth Combs, SOL Republic

In a world dominated by an ever-expanding generation of plugged-in consumers, the music industry (among others) must bow to these customer’s every wish in order to survive.

From iTunes to rdio, every song and genre is now available at the touch of a button on a plethora of streaming service. Music as a medium however is more than just a song; it is the soundtrack to your life – and it’s this emotional connection to music itself that Seth Combs, Co-Founder of SOL Republic has placed as the key philosophy behind the SOL Republic brand.

When SOL Republic started, the music experience was not up to snuff. Small ear buds were the norm, and people were not experiencing music how it was intended. This led Seth to the following question: can a company be built around an experience instead of a product? That question is at the core of SOL Republic. Seth believes that if music sounds better, it will also make you feel better, and if you feel better, than you will change the world for the better – a philosophy that any other consumer-facing business could learn from.

For a lot of big brands, connecting with the consumer is often second to the product itself. Which is a big reason why many consumer products fail.

According to Forrester Research study, 89% of consumers no longer feel personally connect to the brands they buy from. The good news of course being, that this leaves a huge hole in the market for a company to come in and do what SOL Republic did, and steal massive market share away from the competition.

Consumers use rational and emotional thinking when making their buying decisions – and the tiebreaker that leads to purchase is always emotional.

In SOL Republic’s case, a pair of their headphones, with much better specs, is about $150 cheaper than a comparable model from BEATS. If the price difference didn’t change the consumer’s mind, than the slew of customizable parts that make the headphone fit the users individuality will.

In a world overflowing with products, why would someone buy yours over the next brands? What real world problem or pain do you solve for the consumer? Figure this out and you won’t be selling a million pairs of headphones, you will be selling 1 pair of headphones a million times. And that is your golden ticket.

Watch Seth Combs talk about how his company wants to build experiences, not products.

 

 

 

This post originally came from another GROW speaker, Brian Solis. Read more from Brian, here and don’t miss Seth when he hits the stage at this year’s conference in Whistler.

 

Purchase your ticket to GROW, here.

 

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