This year, it’s been all about Steve Jobs. The explosion of iPad, his untimely death, and the Walter Isaacson biography. Apple, more Apple, and this holiday season at the mall, yes, Apple.
But a more understated CEO/technology genius, Amazon’s Jeff Bezos, often flies under the radar. His company has only saved and revolutionized the book publishing industry (if only the record labels would have attacked their problem this way). And when the dust clears on this Christmas season, his Kindle Fire tablet/eReader will come in second only to iPad. It is not perfect, to be sure, but it will have major impact on this rapidly growing category.
Google’s Eric Schmidt says that the “four horsemen” of tech are Google (of course), Facebook, Apple, and Amazon. This company invented eCommerce and will once again, set records this holiday season.
Recently, Wired interviewed Bezos, and I’ve pulled out six nuggets for you to chew on when you get a second this month, you power down a bit, and you start considering the year (or in Bezos’ case, the 5-7 year road ahead).
- Disruption rocks. As Bezos puts it, “If you’re going to invent, you’re going to disrupt.” You can’t be afraid to break a few eggs or even some china along the way. Too often, employees are fearful that new innovations (podcasting, Facebook, streaming) could be distracting or even disruptive to the “mother ship.” But in fact, it is this process of adapting and bringing in new ideas and tools that keeps brands fresh and innovative.
- Obsess over small defects. Bezos notes that “the most expensive thing you can do is make a mistake.” Ultimately, the company saves money by avoiding them. When you look at many radio operations, there are often multiple defects that prevent listeners from easily enjoying content – a hard-to-find streaming player on the website, a long, arduous form to join the email club, request lines that just ring or are always busy, etc. It’s those small mistakes that add up to become brand repellents.
- Keep it simple. Bezos is a proponent of all-you-can-eat plans for his customers (Prime membership on Amazon). That’s because it’s easier for people to understand. Bezos “gets” that with all the clubs, memberships, frequent flyer cards, Groupons, and other offers, the simpler the better. In radio, how can we simplify our procedures – easier giveaways, faster ways to connect with the station and its personalities, etc.?
- Don’t be defensive. In Bezos’ world, things change quickly and it would be easy to get flipped out by the newest web innovation. An example is social networking which Amazon really hasn’t embarked on. Rather than panic because of that “falling behind” feeling, Bezos talks about “how we can be inspired by that to make our business better.” In radio terms, that approach would serve the business well when a satellite radio or Pandora comes along. Too often, the radio industry starts to play “D” rather than innovate on its own.
- A grasp of the obvious. In this fast-paced environment, it’s easy to get untracked. For Amazon, it’s basic: selection, speed of delivery, and lower prices. You get the feeling that those words are tattooed on the foreheads of every company employee. As distractions, criticisms, and pressures come at radio from all sides, it would be wise for us to stay focused on what got us to the dance; why consumers love radio: ubiquity, simplicity of use, entertainment. How often do we get away from our understanding of the “obvious” things that make radio valuable?
- Plan for the future. Back in ’97 when Amazon was still a fledgling company, a Bezos’ shareholder letter addressed the long term: “If everything you do needs to work on a three-year time horizon, then you’re competing against a lot of people. But if you’re willing to invest on a seven-year time horizon, you’re now competing against a fraction of those people…” Bezos believes that planting seeds combined with stubbornness is part of the reason Amazon has been a success.
Today’s Internet superstars can teach legacy media leaders a great deal about competing in this new environment – if they’re willing to listen.
Jacobs Media has consistently walked the walk in the digital space, providing insights and guidance through its well-read national Techsurveys.
In 2008, jacapps was launched - a mobile apps company that has designed and built more than 1,300 apps for both the Apple and Android platforms. In 2013, the DASH Conference was created - a mashup of radio and automotive, designed to foster better understanding of the "connected car" and its impact.
Along with providing the creative and intellectual direction for the company, Fred consults many of Jacobs Media's commercial and public radio clients, in addition to media brands looking to thrive in the rapidly changing tech environment.
Fred was inducted into the Radio Hall of Fame in 2018.
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