How much would you pay to be fascinating?
Why do you recall some brands but forget the rest? Why do some products command a much greater price than functionally equal competitors? Even more intriguing, why can some people get your kids to change their behavior when you can’t? The answers may lie in discovering the power of fascination and what triggers it.
The compelling power of fascination What does fascination have to do with marketing or retail? When is the last time you have seen the word fascination used in the same sentence with retail or merchandising? Exactly! We see countless articles on “messaging”, “branding”, “value propositions” … but not how to fascinate consumers in ways that captivate. Hogshead summarized her research in very tangible terms: “Without fascination we can’t sell products, persuade shareholders to invest, teach students to read, or convince our own kids to stay off drugs.” Said another way, creating fascination in retail is what brings products to life in ways that consumers see them as part of their lifestyle. Easier said than done! But, the book has some tips on the power of experience and what motivates consumers beyond the mere physical product itself. How important is fascination in people’s lives? Here are some of Hogshead’s more interesting research findings: · 60% of people reported that they would be willing to bend their morals, standards or loyalties in order to have a fascinating life · Fascinating brands can charge 4 times more those that are not · On average, people would pay $288 per month to be the most fascinating person in the room, 5% would pay $1000+ · Women will spend more per month to be fascinating than they spend on both food and clothes At least for the sample of Americans Hogshead studied, consumer value and motivation goes well beyond the mere “product” itself. The Seven Triggers of Fascination The old marketing adage is “sex sells”. Hogshead’s research indicates more than one trigger. True fascination requires a blend of several deeply rooted, primal means of arousing intense interest: 1. Lust: the anticipation of pleasure, which we crave. 2. Mystique: unanswered questions, which intrigues us and makes us want to solve the puzzle. 3. Alarm: the threat of negative consequences, which demands immediate response. 4. Prestige: symbols of rank and respect, which earn us status and admiration. 5. Power: command over people and things, which draws our focus. 6. Vice: rebellion against rules, which tempts us toward “forbidden fruit.” 7. Trust: certainty and reliability, to which we give our loyalty. Ok, when is the last time you “lusted” after a product? Maybe the name “lust” communicates the wrong message. But, anticipation of the pleasure and joy of using a product is certainly part of the emotional side of making a purchase, especially for a “lifestyle” product. What do the seven triggers have to do with retail? Walk down the aisle of any big box mass retailer and I defy you to find evidence of anyone of the seven triggers. If one is present, it is probably Trust – trust us to fix it when you can’t begin to figure it out. Slates, tablets, 3D TVs … there are a host of compelling and fascinating products coming to consumer electronics. Yet, the vast majority will be merchandised in the same old ways, in categories by rack … with the primary focus on features, specs and price. How UNfascinating! Retailers could really transform our consumer experience by just focusing on Mystique – intrigue us with the potential of these devices by engaging us in how to use them in our lives. And, how about some Power – help us command to make these things work in the real world of our homes. People always ask me … what is the secret sauce of Apple? Quite simply, Apple is head and shoulders above everyone else by employing the triggers to create an experience that fascinates consumers … in ways that they will spend more to take a bite of the “forbidden fruit” (Trigger #6 started the Apple mystique in 1984). As I was pursuing the daily retail headlines of the “smartbriefs” in my email, I found an obscure link near the bottom with a fascinating title. The post turned out to be a review by Mathew May for a book by Sally Hogshead entitled: Fascinate: Your 7 Triggers to Persuasion and Captivation. Both the review and topic were so captivating that I felt compelled to pass it along to this audience.
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