Hey y’all! Welcome to the 26th episode of #FanDamnShow! In today’s episode I talk about a fascinating study into what drives happiness: products or experiences?
But before I get into the Show Notes, a special thank you to MarketingProfs for becoming The Fan-Damn-Tastic Marketing Show’s first sponsor! This episode is brought to you by the Marketing Writing Bootcamp, from Marketing Profs. The Marketing Writing Bootcamp begins on June 11th and features 13 classes with almost 8 hours of instruction! You can learn more here about the Marketing Writing Bootcamp and if you enroll with promo code FANDAMN you’ll save $200 on Marketing writing bootcamp. Plus, you’ll get over $1,000 worth of Marketing Profs seminars, classes, and video tutorials, free – just for registering!
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I recently came across a very interesting article in Fast Company that discussed the science behind how experiences bring you happiness more than products do. I delve into this topic deeper in this episode of The Fan-Damn-Tastic Marketing Show:
2:02 – Science indicates that money can buy you happiness, if you spend it on experiences and not products
3:00 – Happiness and satisfaction with a new product diminishes as that product ages and becomes obsolete
3:37 – Happiness associated with experiences such as vacations can actually increase over time as they create happy memories and give others a common conversation and word of mouth to share
8:30 – If experiences create more sustained happiness vs products, doesn’t that mean that experiences also create a different form of word of mouth?
11:00 – If your marketing is trying to drive better WOM then shouldn’t it be focused more on experiences associated with your products versus just the product itself?
11:50 – Harley-Davidson doesn’t market its motorcycles, it markets the lifestyle associated with owning the motorcycle because that’s tied to experiences versus just the product.
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We’ll talk again next week!