How much is masterpiece music performed by an internationally acclaimed virtuoso worth to an audience of a thousand people? .
About $32, according to the Washington Post.
In January 2007, the newspaper conducted an experiment about the influence of context on people's perceptions and priorities—and their ability to "recognize beauty." As part of the experiment, Joshua Bell, one of the world's best violinists, played incognito inside a Washington DC subway station.
During his continuous 45-minute performance, Bell played six pieces by Bach, Shubert, Massenet, and Ponce—some of the most powerful music written for a solo violin. His instrument: a 1713 Stradivarius worth about $3.5 million dollars. Two days prior, Bell had performed at a sold-out concert in Boston, where the tickets averaged $100.
But back in DC, 1,097 people went through the subway station. Only seven stopped and listened for a while. About 27 gave money but continued to walk past the musician. There was no applause at the end, and the total sum collected during the performance was $32.17.
What Is Beauty?
The Washington Post had its story. Headlined "Pearls Before Breakfast," it was filled with descriptions of the musician, the music, the instrument, and even the acoustics of the briefly infamous subway station. The goal was to assure the reader that there was absolutely nothing wrong with the performance.
The article went out of its way to prove that, if there is such a thing as sublime beauty, it was fully present in Bell's music. Yet very few people were interested enough to pay it any attention, let alone money or time.
What Is Value?
Though beauty and its place in our lives are the subject of philosophy and sociology, willingness to pay for or "value" a product or service is the purview of marketing.
In business terms, the drama of a superior product's failing to attract market share is only too familiar:
- Brilliant technology—ahead of its time
- Exquisite restaurant—in the wrong part of town
- Expert professional service—losing deals to a better-known competitor
Philosophers have long debated whether beauty is intrinsic to an object to which it is ascribed. By contrast, marketers agree that value is dictated by customer preferences (demand) and competing alternatives (supply)—not by the product itself.
Value is never "timeless" or "transcendent." It is a product of time, place, social context, and mental attitudes. Sharp fluctuations in stock and real estate values, premium commanded by name brands over generics, and mini-bar vs. supermarket prices are all examples of identical products having different values.
So capital markets are cyclical, and mini bars are a rip-off; but isn't value just good quality at a fair price?
Quality and Price
Too many businesses fail because companies equate value with "quality" and "price." If you had any doubts before, the Joshua Bell experiment should dispel every one of them. In that example, there is a product of uncontested quality, Bell's performance, at a competitive price—free—failing to "sell," with only seven out 1,097 people stopping to listen.
But wait a minute! If quality and price aren't "value," why have sellers pitched and buyers worried over nothing else since the beginning of time?
The Agony of a Salesman
Quality and price are important, but only in front of the right buyer, at the right time and place.
When that is not the case, our message of quality and price falls on deaf ears, much like Bell's beautiful music played to the early-morning subway crowd. In fact, even before he started playing, Bell was aware he was missing a step in reaching out to his audience.
"I was stressing a little," he told The Washington Post after the "flopped" performance. "When you play for the ticket holders, you are already validated. I have no sense that I need to be accepted. I'm already accepted. Here, there was this thought: What if they don't like me? What if they resent my presence?"
Sound familiar?
Start From the Start
Anyone who has ever made a cold call to an unqualified prospect or forced himself or herself into a sales presentation will immediately recognize the feelings described by the world-class musician facing a random crowd.
What do you do to get to a sale? Brace for uncertainty and rejection? Change your product to assure universal appeal?
Be aware of the tendency to work backwards from one unsuccessful solution to the next. In the Joshua Bell example, it would be easy to blame the product for failure to attract customers: Maybe if he just played popular tunes instead of arcane classics....
Next, we like to point the finger at Sales. What if we hired "direct sales force" and trained them to tap commuters on the shoulder and say, "Hey, do you have any idea who is playing over there?"
Then, we realize that advance promotion might help. So we put up signs announcing a free concert by Joshua Bell at 7:51AM on a Friday inside L'Enfant Plaza Station in Washington DC. At that point, we might actually improve our proceeds from $32 to $300, or even $500.