Making Money by Giving IP Away

If you haven’t seen this video highlighting the work that Trent Reznor of Nine Inch Nails and team have done in the wake of decreasing music sales and increasing piracy, you certainly should:

Nine Inch Nails makes their body of work available on their web site for free and then offers people several different ways of purchasing a part of the music and a part of the experience (including limited edition items).

It all boils down to two key concepts:

1. Connect with fans (CTF)
2. Give people a reason to buy (RTB)

So, what are you doing to connect to the fans of your products and services?

Are you giving your customers enough of a reason to buy?

Braden Kelley is a Social Business Architect and the author of Stoking Your Innovation Bonfire from John Wiley & Sons. Braden is also a popular innovation speaker and trainer, and advises companies on embedding innovation across the organization and how to attract and engage customers, partners, and employees.