3 Keys to Making Money in the “iPad Economy”

Do you ever feel like your head is spinning trying to keep up with the constant change and acceleration of technology? You’re not alone. The amount of information and technology software and hardware is growing exponentially – and there seems to be no end in sight.
So what I’d like to do is give you three quick anchors that will keep you steady in the “storm” of technology and change. The anchors – each a key to being able to cash in on the new economy – are as follows:

1. Simplicity
2. Intimacy
3. Engagement

These three anchors will ultimately help you make money – through focus, brand management, and growing your “product evangelist” base. Let’s take a look at each.

Simplicity:

The Apple iPad is now the most successful product launch in history. I believe it is the fastest product to reach a billion dollars in sales in history. Why? Simplicity. Apple and Steve Jobs were excoriated for being too controlling, to simple, not enough flexibility, etc…and guess what? The market LOVES IT! As an avid Apple user, I can speak from experience that the App Store with Apple is fantastic to do business with, and it is expected that there will be more than 50 million apps available by Christmas, 2010. People love simplicity – in this overwhelming time – and they are empowered to use the iPad for relationships, games, and buying. They don’t have to worry about whether or not it works.

According to Shopatron, a global provider of eCommerce solutions for consumer
goods manufacturers, sales conversion rates for iPad are much higher than for the
other mobile devices. (taken from http://www.doxtop.com/browse/e5ab3c6b/apple-ipad-trends-and-statistics.aspx?show=pdf)

This is a principle both in using the iPad – and for engaging the economy it is driving: Be simple.

Intimacy:

The beauty and tactile nature of the iPad’s screen drives a uniquely intimate experience for its users. Never before has a piece of hardware so quickly become a felt part of its owner. The iPad draws you into using it. ePublishing is seeing a dramatic increase in readership (of the declining publishing industry) on the iPad due to the fact that people spend more time with the experience of reading on the iPad. Now, this is also due to the engaging nature of the device (to be discussed in the next “anchor”), but the intimacy that is created by the iPad leads to a more personal experience – in consuming content, playing games, and making purchases.
Businesses will do well to understand that it is becoming an expectation of consumers that the intimate feel of the iPad be replicated in their experience with your company – on and off line.

Engagement:
It is no longer enough to have the best product or commercial. People are wanting to engage with businesses in new and unique ways. The iPad (and Social Media as well) have created this by giving people ever increasing ways to be a part of not only every part of the business cycle – for better or for worse – but of each others lives. Early in the 1990’s, the pervasive fear was a society that sits around glued to their screens. This may yet become our end, but what I see the iPad doing – and the increase in Social Media engagement through it – it causing businesses to reconsider their branding strategy, and their business posture. It’s not enough to be “digital” (i.e. having a great web presence). You must be personal and therefore people want to be in relationship with you. The iPad economy will be one where the technology and ‘screen engagement’ will drive a more personal, relational buying and selling environment where people will connect more outside of cyberspace as well.

I do understand that these are not 3 magic bullets you can use to bring down the mythical steed of eternal business blessing. But as we – each of us personally and professionally – works to find places of stability in an ever changing world, I do believe that by using simplicity, intimacy, and engagement as the anchors for our business strategies, decisions, and metrics, we will find a place of stability from which to grow.

Written by: Scott Morris

Author of: iPad & Social Media: A Paradigm Shift for Business

For more information, see:

http://www.mindcommerce.com/Publications/iPad_Social.php

About Mind Commerce

Analysis of telecom and ICT infrastructure, technologies, and applications.
This entry was posted in Broadband Wireless, Mobile Data and Applications, Social Media, Tablet Computing and tagged , , , , , . Bookmark the permalink.

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