The 1 Mindset Shift To Make You Evergreen in the Marketplace
Let’s face it. From an information and innovation standpoint, we live in an overwhelming time period.
It’s hard to keep up with the pace of technology. With the skill sets that are needed to stay relevant. With the market shifts that seem to constantly be in flux.
As soon as you learn one thing, it seems to be viable for a whole whopping 365 days…if you’re lucky…
Well truth is (whether it’s bad news or good news to you) it’s not going to change.
So what can we do to combat this? What can we learn to make sure our companies, our skill sets, and our well-being are evergreen?
The answer might seem simple, but I can assure you it’s more complex than it sounds:
The answer is having a human-centric mindset by putting people first in all you do.
By understanding psychology as a basic level, you’ll be able to put people first in your work; whether that be UX, copywriting, design, writing, photography, etc.
The fact is that technologies will be displaced. Social media platforms that are sexy today will eventually become uncool. Tomorrow will become yesterday.
It’s just the way things are. It might be a hard pill to swallow. But in modern times, if a company has a life span of 5 years staying relevant, it should get a medal. A big, fat, shiny gold medal.
Don’t think of this as a negative thing. It’s the sign of a healthy economy. Or at least a healthy industry.
But one thing that will never change is the humans behind these technologies & companies. The people driving the innovation. The people consuming everything in the marketplace.
So why has psychology taken a back seat, at best, in the business world?
Truth is, I have no damn idea.
There are both external factors & internal factors that make up the human-centric mindset…
The external factors affecting your target audience’s mindset consists mainly of market timing.
Study 3 Predecessors Before You Study 3 Competitors:
To truly know what your audience wants, try studying three brands that came before you in your industry. I’m talking the big dogs. The head honchos.
What did they do right? What did they do wrong? Why did they eventually go out of business or fade out of popularity?
Was it a societal issue, a leadership issue, an upcoming young company that displaced them?
What was it that made MySpace fade away? Was it just Facebook or more?
Knowing the answers to questions like these will help you better understand the state of consumer psychology within your particular industry.
Okay, now go study 3 competitors:
Take a look around you. Who are you competing against?
How does your audience perceive your competitors? Do they view them as cool? As traditional and old-school? The answers to these questions could help determine where you could find where your unique niche is.
Study but don’t copy. Copying got a lot of people far, but only so far. There’s a limit to being a hack.
Try Predicting Some “Off Shoot Markets”:
Offshoot markets are those that will inevitably come into fruition because of a present market trend. Knowing psychology will help you tremendously with predicting these ripple effects, and could land your brand a leg up on the competition, or result in your next investment holding more weight.
For instance, when autonomous vehicles become the norm, there will be a longing for areas where people can go and drive cars for themselves. Thus, “luxury racetracks” will begin to pop up.
Since 3D printing is proliferating but still in its infancy, the machines are out of the price range of many. An offshoot market could be a Kinkos for 3D printers. Enter in 3D Hubs.
So next time there is a big market shift, ask yourself how people will PERCEIVE things different? Will new needs arise that are basic to the human condition?
You can’t forget the product, service or skill set itself. Internal factors are the components of your product or service the consumer experiences for themselves.
1.) UX & Product Design
Does the copy on your website and your products cater to what your audience actually wants?
Your copy should directly reflect the internal needs and wants of your audience.
3.) Immediate Pain Point It Solves
Please please please read Nir Eyals book Hooked as well as Martin Lindstroms book Buyology. I don’t care how busy you are, it’ll be worth the time.
External factors also have a bearing on the internal. Whether we are conscious of it or not.
Take for instance, Snapchat.
Remember the first time someone tried to explain what Snapchat was to you?
Remember the first time you tried to explain Snapchat to someone else?
It was tough right? It made you second-guess your sanity a bit.
One of the primary reasons Snapchat has done so well is users were exhausted of the lack of privacy of other social networks (such as Facebook).
Consumers wanted a way to visually and verbally communicate with their friends without worrying about the repercussions. Without uncles and aunts commenting on pictures of their night out.
So what is the polar opposite of that?
A platform that deletes everything from existence for you…no more accountability! Woohoo!
Okay…so what can I use this human-centric approach to business for?
Here are just a few answers to that question:
Not only will having a human-centric mindset allow you to be a badass direct response marketer and beyond, it’ll also allow you to KNOW WHY people love the things they do. Why they love the social media platforms they do.
This will make it easy for you to create content that will resonate with audiences across those platforms. With sharable content, comes credibility. And credibility opens the door to possibilities.
Product Market Fit for your Startup or Business
As discussed earlier, knowing these big picture ideas will allow you to scan the emerging market to know if your idea is ripe for picking. Or rather, if it will be in the foreseeable future.
General Market Foresight
Being able to tell the future of the market doesn’t just make you look awesome in front of your poker buddies, it also opens the door to investing opportunities, and weeding out the bad ideas you have with the good ones.
Better Informed Consumer Decisions
If you understand these principles, you might avoid making an unnecessary purchase in the future.
Big corporations integrate consumer psychology into all of their decisions on placement. Why do you think candy is placed right near the cash register at department stores? Because impulse purchases
Don’t Just Take It From Me!
Here are some terrific resources that will help you have a better grasp on the concepts and mindset shift discussed in this article. I have learned a ton from these resources:
Hooked by Nir Eyal (along with his blog here)
Hooked is a tremendous book that will provide you with the Silicon Valley twist on consumer psychology. Nir goes through the ideal characteristics of addictive products and how your startup/business/brand can do the same.
Len Smith’s Udemy courses
Len is a baller! Anyone who is 71 years old and still staying ahead of the curve deserves a place in this article about staying “evergreen”.
I really love how Len fuses together the psychology element into the study of copywriting. The great thing about Len is how his lessons can apply to all aspects of business.
Buyology by Martin Lindstrom
This book is an absolute must-read if you want to delve into the subject of consumer psychology. On top of running a world-class consulting firm specifically designed around these principles, Lindstrom also marries practicality with a sense of humor that I’m sure you’ll love.
How to Win Friends and Influence People by Dale Carnegie
Of course I had to put this book on the list. If you haven’t read it, please do so as soon as you can!
Thanks so much for reading! Let me know what YOU think will help others be “evergreen” in the comment section down below. I’d love to hear from you :)
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