There are some compelling storylines to follow already in 2024, and Phillip and Brian have some hot takes on X creator payments and deepfakes, why “boring” seems to cut through the noise now, and some excitement about Vision PRO. Also, are we to the point now where innovation means working with the algorithm versus working around the algorithm? Listen now for this and more.
A Boring Membership for Everything
Key takeaways:
- Deepfakes are becoming more prevalent, creating opportunities for both entertainment and deception.
- Shop Pay is helping Shopify build a strong moat in e-commerce by offering a seamless payment experience across various platforms.
- Applebee's Date Night Pass may have been sold out quickly, but was a genius marketing move that was an earned PR campaign at best. Read Phillip’s critique in The Senses.
- Memberships can still be successful, provided they offer real value to customers and are sustainable long-term.
- {00:10:54} - “If you spend over $4,000 on something unnecessary for your job or to complete anything in your life, it is a purely experiential purchase. This is just the greatest advertising play in the history of advertising. It is the most natural place for high-end brands, luxury brands, brands that are going to sell experiences that are not commodity-based to put experiences in front of people who are prequalified.” - Brian
- {00:20:34} - “The old methodology of making people pay for things and then gathering stats about how much they're willing to pay for something is a better indication of how much desire or loyalty they had to that thing, as opposed to just a quick peek at it or a quick chuckle.” - Brian
- {00:26:31} - “It's an interesting sign of the times that deepfakes are such a part of the public discourse. It's only gonna ramp up as we have a political season in a fight. - Phillip
- {00:31:06} - “Shop Pay is an unbelievable moat and has all of the consumer penetration that everybody in the one-click payment infrastructure wanted.” - Phillip
- {00:48:56} - “There are crafty ways to put together membership programs that people will wanna buy. But you need to be really careful with them, and don't do things that aren't sustainable like so many membership companies have done in the past. Make things that are smart for your best buyers and make it actually a B2B thing. Your best consumers will appreciate it, and you can reward them and lock them in.” - Brian
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