Thursday, February 3, 2022

Make your product stand out in Market with Hook model of success

 A "Hook" is a behavioural business approach that is used by businesses to make people habitual of their products or services developed by Nir Eyal. Nir is an American author known for the bestselling book Hooked: How to Build Habit-Forming Product.

Sometime it is observed that the market has a huge demand for product or services but most of business people fails to succeed because they failed to make their product stand out in the market or make customer habitual of it.

So question is why some products or services capture widespread market attention and other are not able to achieve breakeven. We at dilsecodie tries to answer this question with the theory of Nir Eyal's Hook model

The Hook model of behavioural business approach is described in below mention 4 phases which are describe below.

1.       Trigger is used to create interest of need in product or service. Tigger in hook can be classified into two types one is Internal Trigger and the other is External triggers. Business focusing on the internal trigger is used to work on feelings, requirements and emotions of concerns and external trigger consist of events and vicinity situation

2.       Action:

Action is something that includes response of customer with triggers. Businesses make lots of efforts to motivate customer to take action. Action for customer should be Psychologically motivating and easy to do.

The Behavior Model developed by Dr. B.J. Fogg   says that the action depends on 3 parameters

which is B=MAT where M is motivation, A is ability to perform action and T is the trigger which trigger user to perform action.

Trigger success graph is shown below image (1.png)


1.       Variable Reward

It is phase business focusses on providing the customer what he is looking for. goal of business is to engender the demands of customers and provide various offers and discounts to lure customer.

While providing reward to customer there should also be a sense of autonomy in making a choice. because if a reward make customer feel constrained he might not be genuine and will be forced to do that this way your precious customer can rebel this rebellious nature of customer is known a reactance of behaviours.

 

2.       Investment

This phases focusses on instance in which customer is willing to invest in some product or service offered to him. this can be in numerous forms like money, data or time spend calculation in terms of category.

investment phase of Hook model is an action that improves the potential power of service and product or make it better from the previous for next through cycle.

 

in short if we compile all the below process we conclude that in order to run a great successfully product in the market below mention steps are considered to be the building steps and must be followed to make customers interested or engaged in products or services

 

a.       Employ both external and internal triggers, and make sure they are aligned.

b.       Make it easy for users to take action.

c.       Offer incentives, and they must be fulfilling.


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