12 Oct Amie Street “Gets” Social Media Value Proposition
In my previous post about the value proposition of social media, I discussed that successful applications give value back to your customer.
In light of this, I stumbled across an article in the Alley Insider that introduced a new Facebook application that I think accomplishes this quite well. The gives a basic overview:
“Long Island City-based music site Amie Street – freshly funded by Amazon – is rolling out a Facebook app that lets you set up a fantasy record label based on its mostly-indie music catalog. Your “label score” goes up and down as songs get more or less popular. The better you do, the more credits you can earn toward mp3 downloads.”
A useful and valuable Facebook app is a rarity these days, but taking a further look at their website (which operates as a social networking site) it is clear that Amie Street understands how to apply value there as well.
In fact, the site articulates this value proposition to both of its niche audiences (emerging artists and music enthusiasts) in the following statements:
“Amie Street gives fans the incentive to discover and purchase your music through our unique pricing model. All songs on Amie Street start free and rise in price up to 98 cents based on the number of times they are bought. The first several downloads of your songs are free because this encourages fans to experiment with your music even if they haven’t heard of you. “
“Amie Street gives fans incentive to spread the word about your music to their friends through our innovative recommendation system. For example, if a fan recommends your song when it’s free, and the price your song rises to 98 cents, we give that fan 98 cents worth of credit to buy more music.”
This is a great example of a company that “gets” the value proposition. I’ll be watching this one to see how it catches on.
