3 problems to solve and 3 needs to exploit
Psychologist Hugh Mackay suggests that one of the key drivers of human behaviour is the need for something to happen. He suggests that people are constantly want and waiting for something to happen.
I would argue that to a very large extent he is right. Consumers like all people are constantly looking for something to happen that will:
- Relieve boredom
- Relieve frustration
- Eliminate fear
Most people have an aversion to boredom and many people are looking for something to happen to relieve that will relieve that hat boredom, and they are prepared to pay for it.
Do you relieve boredom?
Most people find themselves frustrated at times and crave things happening that frustration, and they are prepared to pay for relief of that frustration.
Does your product relieve frustration?
Most people experience fear of the future along with fear of the unknown and they will pay good money to relieve that fear.
Does your service relieve fear?
Being very good at relieving boredom, frustration or fear can be a powerful driver of sales and profitability.
I would argue that people continually crave:
Most people want to feel the exhilaration of excitement from time to time. Most will pay for that excitement.
Do you deliver excitement?
Most people want something to happen that will give them and their lives meaning. Most will pay a happening that will deliver that meaning.
Does your product give lives meaning?
Most people want the exhilaration that comes from action? Most people will pay for something to happen that constitutes action – a movement forward.
Does your service facilitate action?
If you can deliver and be seen to satisfy the need for something to happen that delivers excitement, meaning of the sense of moving forward, you may be on the road to enhanced profitability.
The point here is that people are searching for something to happen almost every day of their lives and the capacity to deliver that something can prove highly profitable and productive.
You just need to understand what it is:
- They might wanting to happen
- They may be looking forward to
- That might set them free
Success will surely follow if you can identify and deliver the happening that will:
- Address that midlife crisis
- Provide that stimulation
- Reduce that inner conflict
This is all part of an effective customer orientation and enhanced performance. It highlights the importance of:
- Customer observation
- Customer insights
- Customer research
What is more, I would argue that this approach is a lot easier and much less expensive than many might think. I would also argue that this approach works best when you first define you market, understand that market and them fashion your offering accordingly.
What are your customer’s fears?
What will relieve your customer’s boredom?
What will address you customer’s midlife crisis?
- Identify and address consumer fears
- Identify and address opportunities to empower consumers
- Leverage the wealth of information available on consumer insights