I have written frequently about the importance of knowing your competitors (competitive intelligence) and I also love Nir Eyal’s Hooked model to build products that retain; I just came across a slideshow by Nir that brings both of these concepts together. Nir’s presentation, “4 Ways to Win Your Competitor’s Customer Habits” (presentation below), shows the four ways companies build better hooks than their competitors.
As a quick recap, the Hook Model describes an experience designed to connect the user’s problem to a solution frequently enough to form a habit. Eyal defines habits as behaviors done with little or no conscious thought. The convergence of access, data, and speed is making the world a more habit-forming place.Businesses that create customer habits gain a significant competitive advantage. It has four phases: trigger, action, variable reward, and investment.
Eyal identified four ways to win customer habits. If your product becomes the one the customer is hooked on, then you will enjoy their continued business.
The first technique is faster hooks. The faster the user passes through the model, the greater the product’s or game’s habit forming potential. Nir Eyal uses the example of Netflix, which won over people’s viewing habits from Blockbuster by delivering movies what were waiting for users rather than forcing them to get in a car, pick the movie, pay and drive home.
To achieve faster HOOKS, first understand the must-have reason people are using your product or game. Next, lay out the steps the customer must take to get the job done. Finally, once the series of tasks from intention to outcome is understood, simply start removing steps until you reach the simplest possible process. Continue reading “How to hook your competitor’s customers”