Wednesday, October 15, 2008

Lessons from the London Eye

A modern day Ferris wheel has become one of the most iconic and popular tourist attractions in London. Besides offering a nice 30 minute ride, giving you a great view along the Thames River, the London Eye follows a very well thought out business plan. From its success, we can pull several ideas that can be applied to any business:

1. Keep people moving. The Eye has 32 capsules that carry a total of 800 people. The wheel never stops spinning but it moves slowly. Passengers have a small but not rushed window to get in and out of the capsule as it spins around. By standardizing this process, the operators can accurately gauge the length of time you'll have to wait for your trip. This appeals to the basic need for people to feel there's a structure to a process.

2. Make people feel safe. The slow and steady trip on the London Eye eliminates a lot of the rocking that characterize other Ferris wheels. Even people like me, who can feel very nervous at heights, can relax and enjoy the view. Safety is also extended to the potential of terrorism. Before you board your capsule, a couple of security staff inspect it. This gives you peace of mind as well as help those who accidentally left something on board quickly recover their belongings.

3. Have a base product that you can upsell. The regular journey on the London Eye is very enjoyable but you create a more personalize experience for a few more Euros. There are a multitude of packages that let passengers enjoy private capsules, a champagne party for the journey, a wizardry themed children's trip, and even a wedding. It's all about taking the base experience and letting people customize it.

Here's a video essay that highlights my trip on the London Eye:

If you can't see the video, go to: http://tinyurl.com/4u5ll4
Add to Technorati Favorites

No comments: