Back in the day, every ad page that ran in a competitor’s magazine was an ad page I had to answer for. As an ad sales person, it was my job to ask for 100% of the budget, and my boss expected me to have a good reason for every dollar that wasn’t being spent with our brand.
Today, that kind of thinking still permeates much of the media industry: how big is my slice of the pie?
But when Milo decided to grab his share of last year’s Thanksgiving pies, he wasn’t concerned about getting the biggest slice. Why worry about slicing up the pie, when you can go right to the middle and work your way out?
And that’s exactly what many of today’s most innovative media companies are doing. Instead of worrying about battling a competitor for an ever-shrinking share of advertising budgets, they’re jumping right into the middle of the market–where their customers live–and working hard to deliver value in a way that’s not concerned about traditional definitions of budgets or business models.
Very often, those are the media companies walking away with the biggest share of the pie. And those publishers still measuring market share in slices may not even realize how much of the pie they’re missing.
So which way are you measuring success? The size of your slice? Or, like Milo, are you diving right into the middle of your market to enjoy as much of the pie as you can get away with?
Either way, I don’t recommend Milo’s technique if you’re planning to enjoy a friendly Thanksgiving meal with friends and family this week. Happy Thanksgiving!