On the other day, I was watching The Cat in the Hat Knows a Lot about That! Fun Feathered Friends with my 3-year old, he got all excited about it and crumbled the couch. Two days earlier, he was thinking why could birds fly, why couldn’t he? And at this moment, his curiosity was satisfied.
Then I started thinking, this kind of excitement he had was something I didn’t have for such a long time, even the availability of iPhone 7 seemed lame to me. And I am not alone. There are just too many smart phones with similar features; most importantly, smart phone is not a brand-new concept/idea/product any more. When iPhone 6 came out, it thwarted all the cell phones on the planet, it was the most selling phone, it could be the genuine witness of Moore’s law. And in the past, in order to buy a new iPhone, a Chinese teenager boy sold one of his kidneys.
Why one particular product made so many people crazy at the same time, what is the secret?
I think it is the satisfaction a product/service brings. I call it your “Wow moment,” “the first time experience” compared to your past experience. For business owners, mastering the skill of creating a product, innovating an existing product/service to bring an “experience” to your customers in a certain time frame, or defined range, or different location will help you gain upper hand.
To ponder on this, let me ask you a question, what “wow moment” you had before?
I had it when I bought the Sony Ultrabook several years ago when all the other laptop companies were selling big screen, heavy ones. I had it when basing on my purchase history, amazon recommended books to me, which I found interesting to buy and read.
For a sensor light company, it is the feeling that a customer has when he/she enters a room, the exact numbers of lights, at the right corner, with the right brightness automatically turn on.
How it is related to your business?
Let me give you an example. Do you feel the business model of supermarket is so impressive? No, you just feel it is a routine now. Moreover, more and more people started to be tired of this. Sears and K-mart closed a lot of their physical shops is not because they are not good stores, but because Walmart was the first to introduce this business model to Wow people. After decades, people simply lost the excitement about the mystique brought by this business model. At the same time, the shopping local campaign denotes customers a sense of collaborative support inside a small community rather than a feeling of being regarded as debit cards with legs by the corporates.
Another example is in the auto industry. No one can deny that in the early 20th century, Henry Ford’s innovation of mass production changed the course of history while made him a fortune. Later on, automobile became part of American culture, even owned American a name of “A nation on wheels.” But nowadays millennials care more about tech products than cars.
This industry needs disruption again. And here comes the kit car. For example, you could pay less than $35,000 (including $19,990 for Factory Five Mk4 Roadster kit, an engine, transmission, wheels, and paint), and get a Cobra which usually costs over a million like this one, according to Popular Mechanics1. A luxury car, affordable price and my personal involvement, perfect match!
Local Motors makes the experience even better, you can choose to assemble the car yourself, or with help of its staffs and the online community the company hosts. You can make suggestion on the parts, or design of the vehicle. If your design plan is elected as the most popular one, Local Motors will even make this product and sell to others. The special emotion Local Motors evokes from the customers is the satisfaction from participating in the producing process of the cars, quite opposite from buying a car from a dealer.
Locally in Wisconsin, Brazen Open Kitchen and Bar causes more buzz and is more interesting than other ordinary restaurants. Paint nite provides more inviting night life experience. Galin Education headquarters in Madison, WI, is the first and only systematic professional college admissions consulting company in the Midwest excluding Chicago, although this type of company is so common in both east and west coasts.
See the size and the speed of how those companies grow? Definitely faster than you thought.
Want to be like one of them? Yes, you can. Just start now.
Think hard to create wow experience and blend it into your business plan, and see how it works for you!
- Popular Mechanics, P57-58, Build Your Own Car in Just 400 Easy Steps, October, 2016