Kyuuji
Active Member
People have been busy. The National now down to 12Was curious so here’s a few others:
People have been busy. The National now down to 12Was curious so here’s a few others:
Gonna pick on this for a second, not that you're the only one who says it. People give VMP a lot of flak about the FOMO stuff. Nearly everything they do gets chalked up to this strategy. Hype drop times in advance? FOMO. Drop things in the store unannounced? FOMO. List pressing sizes? FOMO. Keep pressing sizes quiet? FOMO. Tell people they expect something to go quickly? FOMO. Let people hype things amongst themselves without commenting? FOMO. Announce one month of AOTMs at a time? FOMO. Announce three months up front? FOMO. And so on.
VMP's job is to sell records, however they can. Records aren't -- in my opinion -- too sacred to be subject to the vagaries of online marketing schemes. It's frustrating when I want something and it's selling out because everyone wants it too. It's also frustrating when I convince myself that I want something and then later figure out that I just got suckered by the hype.
Why is VMP's brand of FOMO any different or worse than what we do to each other here in the forum all the time? Is it because we aren't getting paid for it?
I don't know. I obviously think there are many, many things to dislike about VMP that will keep me from being their customer again anytime soon (this When the Pawn price is just one egregious example). It just seems to me that the FOMO accusation gets applied to so much, so often, that it's sort of a watered-down, meaningless complaint. If curation is the art of identifying what belongs in a collection, and retail is about sustaining demand, then it seems like the implication that you might miss something great if you fail to act is built into the business model....somewhat artificially, I'll grant, because of the limited variant pressings and so on, but aside from the Fiona Apples and Nat Turner Rebellions, that's pretty much the only feature VMP has to differentiate their products from others' (or it was, until everyone else started to catch on that bright colors will draw the eye).
Anyway, not trying to poop on your thoughts personally @Teeeee , that's just been percolating in the back of my head for a while and I wanted to throw it out there. I know I cherry picked that one phrase out of a list of complaints and that you also have plenty of valid reasons not to want to support them, generally speaking.
Curious to hear others' thoughts about this too: what, specifically, does FOMO mean to you, and what would you want to see VMP do -- specifically -- to reduce it?
All valid complaints for sure, but only #1 seems to me to fit under the umbrella of creating a "fear of missing out" by telling people something is in shorter supply than it actually is to stoke demand. In fact, #2 and #3 seem like the opposite, a false reassurance that you WON'T miss out. See what I'm saying?
My brain works like this:
#2-
“Member exclusive? Available for a limited time? Dang! Better get on this quick or I’ll have to pay 5x the price on the secondary”
#3- “If I want insurance for albums that I may regret missing out on I better become a member”
Isn't that any business' approach, to the point @Memo made above? If you don't buy the service, you don't get the service.
Not trying to be contrary, just want to tease this idea out a little more.
I can not love this enough. I am giving you a standing ovation in my living room (the dogs are confused).
I don't buy new anymore. I buy used. Why? VMP destroying the QC in the marketplace. VMP driving prices sky high. VMP's strategy of FOMO that has seeped into every other aspect of this hobby.
AND GET OFF MY LAWN!
Thank you Gap! Perfect.
Where #2 is concerned, I think I misunderstood what you were saying originally. I thought your complaint was advertising something as a member exclusive that turns out not to be one at all, but it seems like your comment is really more about transitioning things out of the exclusivity window to sales for the general public. I only see limited options here though: They could not keep products exclusive to members (i.e., make everything available to the public), but that seems like it would enhance FOMO and also devalue memberships. On the other hand, it'll take longer to move product if they never go public.
Are these things that VMP is doing to artificially create FOMO? Are they inherently underhanded or misleading? What would you propose to improve those elements of the business model?
What would you propose to improve those elements of the business model?
At this point, It can either be:I think you had #2 right the first time. Telling people that something is exclusive to members when in reality it’s not is creating membership FOMO. It’s a lie and makes their customers feel dirty and used.
Yes, they’re artificially creating FOMO. I think history has definitively proven this by now. One or two occasions and it’s no biggie but when it’s been happening every month for years then you kinda have to try harder to convince yourself that they’re justified than to accept the truth. Fool me once shame on me, fool me twice shame on me again.
But how long has Panini been in business?I don’t get paid enough to address their business model but I can give an example of a company that uses FOMO tactfully. My other hobby, sports cards, has a company called Panini. They release products to the general public via multiple channels but if you pre-order directly from them then you can be part of their “first off the line” promo where you’ll receive some sort of exclusive bonus. These bonus things sell out very quickly and fetch a penny on the secondary, but the compay never tries to push that on you or market it in deceptive or outright lying ways. Just a simple announcement, “hey, this is going on sale at this date and at this time”.... that’s all VMP needs to do. The fomo is built into the product, you don’t have to be a used car salesman. Early Tesla is another example, the fomo was built into the product supply and availability not some cheeseball sales tactics.
The running theme here definitely seems to be more about deceit than just FOMO in general. Lying in order to create the fear that you'll miss something instead of just allowing the popularity of the product to do that work for you. In that sense, FOMO isn't the issue, honesty is. Do you think that's fair to say?
I think the member pricing, which they have done for a few items, kind of hits the sweet spot in terms of adding a benefit for being a member (free shipping + discounted member price) while also letting the general public purchase an album if they really want it. I also think that for the limited store exclusives like Rising or color variants, there should always be a window of it only being available to members first then open to public if it doesn't sell out. No limited store exclusives should be open to the public ever at launch IMO. They too often tow the line of trying to push member perks but then also selling to non-members, and it really rubs members the wrong way. VMP seems to have become a company more concerned with moving product instead of making their membership feel worth it.Where #2 is concerned, I think I misunderstood what you were saying originally. I thought your complaint was advertising something as a member exclusive that turns out not to be one at all, but it seems like your comment is really more about transitioning things out of the exclusivity window to sales for the general public. I only see limited options here though: They could not keep products exclusive to members (i.e., make everything available to the public), but that seems like it would enhance FOMO and also devalue memberships. On the other hand, it'll take longer to move product if they never go public.
Are these things that VMP is doing to artificially create FOMO? Are they inherently underhanded or misleading? What would you propose to improve those elements of the business model?
But how long has Panini been in business?
They don't need the FOMO marketing because they already have that client base. VMP is less than a decade old so these marketing schemes of FOMO are higher. Just with any new company.
I agree with your sentiment, and also feel that VMP is run by a bunch of tits
But i have to disagree on the idea that they are destroying QC in the marketplace. The first ones to do it in the Vinyl resurgence was Plain and 4 Men With Beards, who just pumped trash into the market. These were dark times. Then labels got wise and acquired lots of these back but pressed them at Rainbo and United en masse. Then Newbury just started paying an exclusive fee to produce these in print masters on various colors at a markup for collect-ability.
THESE things destroyed QC in the market. Eventually enough collectors proved that they would pay a premium for well mastered, well packaged content and VMP has legit made a name for themselves with quality. When they get it right they get it very, very right. So we are really just seeing the natural pendulum swing of the market- ok, we have proven we will pay more for quality so how MUCH more will we pay? The market is testing that now.
I'm not surprised at all that they have grown. I see their albums EVERYWHERE. My local record store, Academy Records, which is a pretty reputable store, has tons of 4MWB releases in their new release section. The thing is they press some good titles and sell them for cheap prices and most people don't know any better. They hit the demo of people starting out with vinyl who aren't dropping $2k+ on a setup. I bought a few 4MWB pressings early on since I didn't know any better.It should also be noted that Plain and 4 Men With Beards are both labels under Runt distribution, along with DBK and Water Records. I guess that, since 2007, Runt has been part of City Hall records. I believe that they.used to only list those 4 sub labels, but Runt has since teamed with Fire Records to distribute titles in the US. It looks like, somewhere along the line, Runt also acquired Smithsonian Folkways (?). They have them listed under their labels and I found where someone on the Steve Hoffman forum expressed hesitation about a Folkways release, because it was produced by Runt.
I was hoping they would get smaller and evaporative. Doesn't appear so.
I think the member pricing, which they have done for a few items, kind of hits the sweet spot in terms of adding a benefit for being a member (free shipping + discounted member price) while also letting the general public purchase an album if they really want it. I also think that for the limited store exclusives like Rising or color variants, there should always be a window of it only being available to members first then open to public if it doesn't sell out. No limited store exclusives should be open to the public ever at launch IMO. They too often tow the line of trying to push member perks but then also selling to non-members, and it really rubs members the wrong way. VMP seems to have become a company more concerned with moving product instead of making their membership feel worth it.
There will always be FOMO in record purchasing now with all the limited color variants and resale market being pretty good. VMP is not alone in doing this, nor did they start it. They have quite a lot of sketchy business practices now though, and whether that is due to incompetence or willful ignorance, we may never know. Neither of those two is promising for a company though....The sketchy business practices have made me wary of VMP as of late but ultimately, as a former long-time VMP subscriber, they stopped making being a member worth it to me. There hasn't been much as of late to justify being a member, especially when swaps didn't work. My swaps got oversold, or I couldn't access them last month. I can get most of the ROTM albums on the resale market or find OG pressings for cheaper. Member "exclusives" are available to non-members sometimes even with free shipping.
You have some very specific events like VMP sending out a newsblast getting people to sign up for 3 months by saying QOTSA would only be available to VMP customers, then it gets a much wider release a few days after. They keep hinting that maybe they will press Channel Orange. They say things are limited, or that they won't do repressings and then they repress. They are inconsistent in being up front about what album sources are, how many are being pressed, etc. I do agree with you though that the FOMO tag is being thrown around a lot with VMP and it doesn't apply to everything. Deceitfulness is a bit more of an appropriate word.
Ugh, I don't like spending this much time on a company that treats its customers like absolute shit and yet the customers are still die-hards.
My post could have gone on and on and on about the things VMP does that makes this hobby not fun for me anymore. But I decided to highlight the ones that were relevant to the sitch. And I didn't want to write an essay, so I stuck to a few and very general thoughts. I had more thoughts but they fall on deaf ears.
Not for you Indy: And for the record, I was NEVER a person that wanted VMP to press this, so please do not accuse me of being one of the "we've been begging them to do this for years and now that they do it we still complain" people. I think it is absolutely valid to wonder why something that took 3 years of teasing is so half-assed and overpriced.