Book Review: “Marketing Lessons from the Grateful Dead” Part 3
August 27, 2010 Leave a comment
[tweetmeme source= “brennels” only_single=false]So the third and last section of “Marketing Lessons from the Grateful Dead” is focused on the business model. This continues to focus on the “freemium” model where the Grateful Dead allowed fans to record their music as well as take creative liberty with their brand. Rather than restrict access, the Grateful Dean broke with traditional convention and opened up their business to share content which allowed for extended marketing participation.
Some similarities are drawn with open source software today, that allows developers to create their own software with a shared platform with little restrictions. Allowing content to be free and shared will encourage users to spread the word and share their ideas, experience and or suggestions for building a better product or brand.
Another concept, which isn’t new but was executed pretty well by the Grateful Dead was “Giving Back” via charitable donations. The Grateful Dead never forgot who they were, where they were from and how they struggled in the early days so when the opportunity came along to help others they were happy to contribute. This says’ a lot about a brand ethics and integrity which resonates well with consumers looking for that “authentic” and “genuine” product that they wish to associate.
Kudos, to the authors for breaking down and relating marketing fundamentals to a category everyone can understand. Music!