here are the key takeaways from this book :
1. The psychology of purchasing
So, buying anything is like a Habit. That’s why in this chapter the author has told about habits.
If we get into the habit of something, then it is very difficult to leave it. You do use Facebook every day because you have found this as a habit Such people prefer Google more than Bing. Because they have got Google’s Habit.
It is also very difficult to give up some such bad habits like smoking and alcohol etc. But behind all these habits their is the same psychology. First of all, something triggers us. Then we start craving for it.
After that we start doing that Habit. Due to this, a lot of dopamine is released in our brain. Dopamine always gives pleasure. It also gives motivation to explore more. Our brain gets used to this dopamine.
When you use Facebook, it is actually dopamine that is being released inside you.
That’s why you get happy. So this is the psychology behind every habit. Understanding this, companies make such a product, which the customer gets used to. And they keep using it again and again. This generates huge revenue for the company. you can also create such type of product in your organization.
2. you have to create a habit forming product in your organization.
The author has said that if you want to make a product, then make such a product that people feel its habit. This will allow them to use that product over and over again. And you will get a lot of revenue.
Every day people use Google. Because they have got its habit. Google earns a lot from this because people got the habit of using of google. Apart from digital products, physical products should also be made like this.
For example, you can take the example of McDonald’s Burger or Coca-Cola. People have got used to these products. And they keep using them over and over again.
3. The four stages of addictive products [the hook model]
If you want to make a Habit Forming Product then use the Hook model. This model has 4 stages. And you have to complete these four stages. This will make people get used to your product.
1. The Trigger – Create a Trigger for your product. Trigger will remind people of your product. Often we forget about the products. The biggest trigger is advertisement. You must have seen different types of ads. Even after Coca-Cola is so famous, the company keeps running its ads. Seeing the ad awakens the desire in people that they should drink Coca-Cola
2. The Action – After the trigger, people want to buy that product. Do something so that people can easily buy your product. Nowadays it has become very easy in the era of e-commerce. People order everything online while sitting at home. If you make a product, then make it available online. Like you can sell products on Amazon or Jiomart etc.
3. The Reward – Make the product such that after using it, the customer feels as if he has got a reward. This reward is only in the form of happiness. And it can also be called dopamine. You get a lot of satisfaction and happiness by eating burger. Similarly, even after applying a cream, you see that you look attractive, then you become happy. Dopamine is released in you even if you get motivation by reading such a blog. This happens even after watching a good film or web-series. So make such a product that people will be happy to get it.
4. The Investment – Make such a product that people are ready to invest in it. Investment can be in any form. They can give you money. Can subscribe. You can give your email etc. by filling your form. You can use all these things to sell that product more in future. Any product that meets these 4 stages then people get hooked towards it. That is, keep buying it again and again.
4. Motivate your customers
only Triggers are not enough to buy any product. Apart from this, it is very important to have motivation among the customers. Motivation is related to the ability of the consumer. If your product is not very easy to use then the customer will not buy it. So make a very user friendly product. If the customer will be able to use your product easily, then he will be motivated to buy it. Second, your product should also be easily available. And its quality should also be very good.
5. Regularly update your product
Always maintain suspense in your product. Psychology says that you get bored of using a product over and over again. That’s why companies always bring new updates.
Facebook keeps changing its features. This makes the customer feel that something new has happened in the product. And his interest remains in him.
Similarly, new versions of cell phones keep coming. Whereas nothing much changes in them. Companies do this only to influence the psychology of the people. So that customers cannot call their product old. And keep buying it all the time.
6. Encourage the customers investment
If you have invested your time, money or emotions in a product, then you get used to it. And you can’t leave him. As you took some time to understand and use Whatsapp, now you will not want to go to a new message app.
That’s why companies make sure that you use their product for some time. Later on you will not want to change it yourself. For this, they keep giving you cashback, coupons, bonus, points etc. They just want you to get used to their product. If you also want to sell a product, then you can do so.
7. Morality and product
To what extent is it appropriate for the customer to get used to any product? It is also an ethical question. Some companies make people get Habit of gutkha, bidi, cigarette etc. They earn money but it spoils the health of the people. So you have to think about how much moral fiber you have. Bad products are always condemned in the society. So keep that in mind.
8. take care of need of your customer
Always keep complete information about your product. It should not happen that the customer asks you something about him and you do not know. Also keep in mind whether your product is able to meet the needs of the customers. If this is not the case then the customer will try to find another product. And will not take your product so always go with the times.
When things change, make necessary changes to your product as well. Only then will your product last for years. and your company will keep making profit.
Thank you for giving your precious time to read this post.