In the battle for relevance between popularity and excellence, how should rising entrepreneurs market their business?

This post discusses how the decision to create a ‘popularity Oscar’ signals our society’s shift from value, quality and excellence to popularity.  Rising entrepreneurs must make a decision about how to market a product, service or business, and decide whether to place emphasis on popularity or excellence.  This post looks at some of the factors to consider.

The Academy has given in.

On September 5, 2018, the Academy rescinded its decision to award a ‘popular’ Oscar.  So this post is now dated but still applicable for the overall message.

The Academy of Motion Picture Arts and Sciences, the people who put on the Oscars, have announced their latest category “outstanding achievement in popular film.” Although the eligibility rules for this category have not been announced yet, people are assuming this will be the Oscar for ‘getting people to like you.’

The most glaring example yet of the transformation of our society from value to likeability, from excellence to acceptance.

As a rising entrepreneur in a world increasingly focused on popularity, where do you stand in maintaining your commitment to excellence? Do you give up on the idea now and just try and maximize your likes and follows, or do you try and deliver the best product or service you can imagine?

[For a Hollywood-only sidebar on the new Oscar decision discussion click here]

Our free market capitalist system is competitive, based on the idea that the market decides the products it wants and needs. You as an entrepreneur are free to put forth your best effort. The value of the product, whether measured on quality or cost, is determined by the market.

In today’s world where popularity is more important than ever, rising entrepreneurs have to decide if you are going for excellence or popularity in the creation, production, distribution, and marketing and promotion of your product.

As a former Hollywood executive, my admiration for the industry extends to the behind-the-scenes artists who are operating on pure skill and creative talent. The work of the crooked fingers of the seamstress sewing a never-before seen gown; the squinting graphics artist staring at a computer screen in a darkened room; the meticulous set designer putting one final vase ‘just so’ for the scene – those detail-oriented creative geniuses who think and act for art. They are the people who have been rewarded and recognized by the achievement of winning an Oscar.

But the question to ask now is: do people still care?

In today’s world, this is a question of where you place your time. Some people will focus on product or service quality. Many will try to put the perfect product into the marketplace and expect to build excitement and loyalty based on the value of the offering. Others will go for popularity, building up an audience through social media posts and likes.

Either approach may work for you. If you are already popular, in social media terms, you may be able to introduce your product directly to your audience and receive good reviews that help build social proof from the beginning. Kylie Jenner’s established social media followings no doubt helped her build her cosmetic company up to almost $1 billion dollars in revenue in under two years.

Oprah can launch a product to #1 simply by saying that she likes and uses it.

But most of us do not have Kylie Jenner level followings on social media. Nor Oprah level total media domination.

As a rising entrepreneur, you will have to decide where you think you will be the most successful. But there are a few factors to consider:

ON EXCELLENCE

Done is Better than Perfect

When going for excellence, remember “Done is better than perfect” (origin unknown but everyone repeats this phrase). The reason for emphasizing ‘done’ is to help you move forward. Those who choose to endlessly tweak their offerings before releasing to the marketplace will usually be surpassed by the doers. If you focus on trying to be perfect, you may never get your product or service to your customers.

At the same time, ‘done’ should mean to the best of your ability. This is the battle of excellence vs perfection. When you have a chance to get your product or service in front of a potential customer, and you want to make sure its the best you have to offer. But do not be discouraged if your work is not perfect or beautiful. Your potential marketplace has seven billion people. If the first one hundred do not appreciate the value you have to offer, keep going.

When you are starting out and strapped for cash, keep your offering simple. This will make it easier to explain to your customers and help you save money in production and delivery to the marketplace.

The Customer is Always Right (Harry Gordon Selfridge)

Who will define excellent? The marketplace. Although reviews, Consumer Reports, and industry watchdogs may all have something to say about your product or service, at the end of the day, those who decide the product is ‘excellent’ will be the customer.

At its origins, Apple Computers were only for artistic types who kept insisting to a wary world that the Macs were superior to PCs. Decades would pass before the majority agreed.

Years ago, ‘experts’ claimed the Betamax was a superior to VHS. But VHS was always the more popular and desired brand.

To a customer, ‘adequate’ may be excellent if the product or service meets consumer demands for price, usability and yes…popularity.

ON POPULARITY

Know which side your bread is buttered on

For those reviewing the Academy’s decision, some would argue, the ability to deliver an audience is as vital as any achievement in motion pictures. After all, as those in the industry knows, one or two successful studio ‘tentpole’ movies pay the bills for the other 20 or so movies that are made by each company, and the salaries for the thousands of employees who work all year to support the physical and operational production infrastructure. Failing to acknowledge the achievement of popularity is looking the proverbial gift horse in the mouth.

For some, the addition of the already nicknamed “popcorn Oscar,” is a decision designed to improve the ratings of the Oscar telecast on broadcast television. And some would argue, this is the same decision-making that brought beach volleyball, snow boarding and artistic gymnastics to the Olympics. The decision effectively declaring: if the idea is contributing to the overall goal (participating in sports, going to the movies), the decision is worthwhile for the industry.

The Medium is the Message (Marshall McLuhan)

Whether you can position your product or service for excellence or acceptance may depend on whether you are delivering the message by virtue of being you, or your product delivers the message by virtue of being excellent. And the medium you choose may be directly related to the product, service or industry you are in.

As a rising entrepreneur, you will have to determine your pursuit of popularity based on your own industry. If you have a product or service operating in a market where marketing plays a major role, like cosmetics or laundry detergent, you will have to position your product to be popular. Human beings are hard-wired for their own survival which includes being able to outshine each other in a competitive situation.

In the Internet world, you need likes, follows and retweets to obtain a ‘relevance’ score and know your value to the world.  (Your Internet value, not your real value) . If you want to earn more, have an independent life, function successfully, you have to deliver value in the form of eyeballs who you ‘influence’ with – well…whatever you’ve got.

You will also have to consider where you pursue popularity. In the activity category called: ‘sitting and staring at a screen with moving pictures alone,’ movies must compete with broadcast, cable and pay television, paid streaming video services, free video services, social media, gaming, gambling, lectures, surveillance cameras, and every related form of video advertising (yes some people just watch the ads).

As an entrepreneur, you should focus on one or two platforms where you can best merge your skills to extract value wherever possible.

But if your industry moves on testimonials and direct support for your product or service, you will need not only your potential customers to try, like and tell others about your product or service, but also recognized ‘experts,’ outside opinions, and unbiased reviews. The global audience looks for ‘social proof‘ the idea that other people have tried the product, and it has proven its claim to deliver value.

Depending on your product or service, the results of tests, analysis or experiments may also be important. If objective evidence supports your industry, for example with automobiles, precision tools or pharmaceuticals, you will need to participate at that level.

ON WINNING

To the victor, go the spoils (Senator William Learned Macy, 1832)

In the excellence versus acceptance debate, the battle for a rising entrepreneur is between your ability to deliver based on how your audience perceives you (popularity), or your product’s ability to deliver based on how your audience measures the value of your product (excellence).

Either way you are rewarded. But perhaps in different ways. Extreme popularity can have many financial rewards, and the endorsement of crowds. But extreme excellence may only earn you the notable applause of your colleagues and rivals.

When industries reward excellence, the prize is typically expected to encourage others to reach for the same heights. Although the team that wins the most games wins the championship, the players and coaches who are the best in their fields win the recognition.

Take the High Road

Regardless of the cheerleader or cynics’ view of the Academy’s decision, the message is clear. Popularity must be recognized. Does this mean excellence will be diminished? Hopefully not.   The existence of popularity should not fade the glory of excellence and the recognition those who strive for perfection rightly deserve. We will be a sorry world indeed when we no longer care about taking the time to do work beyond the best of our ability, and competing against only the most skilled, innovative and imaginative in our respective industries.

Hopefully those who strive for excellence will not have to continue their lonely struggle unrequited. If you make the commitment to always pursue excellence, the value will be on display in everything you do.

Popularity is having its moment, and soon it will have its Oscar. But now that this has happened, aspiring entrepreneurs should be more aware of the dangers and possibilities in the endless battle.

Listen to the Ready Entrepreneur Podcast on this subject:  Click here

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