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Hooked - Creating Habit-Forming Products

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A quick synopsis of Nir Eyal's book Hooked.

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Hooked - Creating Habit-Forming Products

  1. 1. PRODUCT MANAGEMENT FUNDAMENTALS YOU CAN USE - Rajeev Soni
  2. 2. PRODUCT MANAGEMENT UX TechBiz
  3. 3. PRODUCT MANAGEMENT Desirability ViabilityFeasibility
  4. 4. PRODUCT MANAGEMENT CONTINUUM Senior Developer System Architect Technical Product Manager Product Manager Product Marketing Manager Marketing Manager Business Head Product Manager Marketing / BusinessTech Design
  5. 5. DISTILLED KNOWLEDGE • Switching cost • Hooked model of engagement • Requests vs Real Problems • Following the metrics • Pricing - A Value Model
  6. 6. SWITCHING COST • Cost to a user/customer to switch to a competitive or substitute product • Financial: Monetary • Procedural: Effort/time based • Network effect based • Data and compatibility based • Psychological
  7. 7. Building an engaging technology product
  8. 8. What are some of the most engaging tech products you know and use?
  9. 9. The Hook Model
  10. 10. Trigger
  11. 11. Triggers cue the user to take action External • Paid Trigger • Earned Trigger • Relationship Trigger • Owned triggers Internal
  12. 12. Exercise •Which internal trigger do you experience frequently? •What might be places and times to send an external trigger?
  13. 13. Trigger + Ability + Motivation Action
  14. 14. How can you improve someone’s ability? Make what they need to do simple.
  15. 15. Elements of Simplicity • Time—how long it takes to complete an action • Money—the fiscal cost of taking an action • Physical effort—the amount of labor involved in taking the action • Brain cycles—the level of mental effort and focus required • Social deviance—how accepted the behavior is by others • Non-routine—The action matches or disrupts existing routines
  16. 16. Trigger + Ability + Motivation Action
  17. 17. Motivation
  18. 18. Rewards of the tribe — Gratification from others. Rewards of the hunt — Material goods, money, or information. Rewards of the self — Mastery, completion, competency, or consistency.
  19. 19. Exercise •What rewards do you get from the products you use everyday?
  20. 20. Investment  Unlike the action phase, which delivers immediate gratification, the investment phase concerns the anticipation of rewards in the future. Can you give some examples?
  21. 21. Investment  Investments in a product create preferences. What products do you prefer? Why?
  22. 22. Investment  Investments increase the likelihood of users returning by improving the service the more it is used. They enable the accumulation of stored value in the form of content, data, followers, reputation, or skill. How do you create value for the products you use?
  23. 23. Investment  Investments increase the likelihood of users passing through the Hook again by loading the next trigger to start the cycle all over again. Assess your own behavior and see how you get hooked?
  24. 24. Thank you Questions rajeev@rajeevsoni.com @rajsoni
  25. 25. Product Lifecycle • Conceive • Plan • Develop • Iterate • Launch • Steady State • Maintain or Kill

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