• • “The carrot is the stick. The brain gets us to do anything and everything for one reason, and that is to escape discomfort. Everything you do, every product you buy, and every action you take is about the desire to escape discomfort. Even the pursuit of pleasurable emotions, wanting, lusting, craving, and desiring are uncomfortable. We have to realize that from that perspective, it doesn't help us to think about customer needs in terms of wanting to feel good. It's much better to think about the pain points.”- Nir Eyal
"An internal trigger is an uncomfortable emotional state that we seek to escape, like boredom, loneliness, fatigue, uncertainty, stress, and anxiety. When the user feels that internal trigger, they look for relief with our product or service. It is always a negative emotion. The only reason why people use a product or service is to manipulate their mood. It's to feel something different. As a product designer, entrepreneur, or marketer, you have to understand the feeling that your customer is trying to escape before focusing on the product feature, which is less important." - Nir Eyal
“The brand is not what keeps people coming back. What Shein has is economies of scale. They can make stuff dirt cheap. Walmart used to be all about cheap products, then Amazon came along and it was also doing the same thing. After that, Shein came along, and there will be something after Shein that makes stuff super cheap. Competing on price alone can be a winning strategy, but you're going to have a lot of knives on your back. You have to be careful because somebody's going to try and copy that very quickly, especially since we know people at manufacturers in China are emulating and copying these types of strategies. I would take out the Hook model and ask myself where it is the weakest. It is weakest in the investment phase. This can be fixed by personalizing the product based on customer preferences.” - Nir Eyal
In this insightful discussion between Jeremy Au, a Venture Capitalist, and Nir Eyal, an expert on habit formation, the focus is on the Hook Model and its relevance in different industries. The conversation delves into the trigger, action, variable reward, and investment phases that create habit-forming products. The key takeaway is that by understanding and implementing the Hook Model, businesses can cultivate user engagement and loyalty. The discussion highlights real-world examples, including edtech and health tech, where the model is being successfully applied. It also emphasizes the importance of the investment phase, often overlooked, as users' continued investment in a product enhances its value over time.
Key Topics Discussed:
• The four phases of the Hook Model: trigger, action, variable reward, and investment
• The importance of understanding user psychology and internal triggers
• Examples of habit-forming products in industries like edtech and health tech
• The role of personalization and customization in creating stickiness
• The potential of future developments in e-commerce and personalized experiences
• The need for businesses to go beyond price competition and focus on creating habits
This engaging discussion provides valuable insights into how businesses can leverage the Hook Model to create engaging products and services that build long-term customer relationships.
Watch, listen or read the full insight at www.bravesea.com/blog/habit-d...
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#HookModel #habits #customer #behavior #reward #investment #edtech #healthtech #userexperience #ecommerce
11 июл 2023
