Smart marketers use speed bumps to generate greater sales by adding friction to the selling process. The podcast explores the origins and impact of speed bumps in marketing, as well as the concept of taxes as a speed bump. It also discusses Van Halen's strategic use of the 'brown M&M's clause' and the power of checklists in preventing surgical mistakes.
Strategically placing speed bumps in the marketing process can create positive impacts by aligning with consumers' beliefs and emphasizing product effectiveness.
Adding friction and obstacles to guide consumer behavior can enhance decision-making and influence outcomes in various industries.
Deep dives
The Power of Speed Bumps in Marketing
Speed bumps, whether in the form of obstacles or friction, can be strategically placed to slow down the marketing process and create a positive impact. For example, Clerol intentionally added a 30-minute step to their hair conditioning process, despite the product taking under two minutes to work, to align with consumers' existing belief system and gain credibility. Similarly, Johnson and Johnson added a slight sting to their ointment for faster healing, as people have a psychological preference for feeling the medicine in action. Buckley's cough syrup, renowned for its terrible taste, experienced increased market share after openly acknowledging its awful taste, creating a speed bump that emphasized its effectiveness.
The Influence of Friction in Decision-Making
Friction, or deliberately adding obstacles, can guide consumer behavior and enhance the decision-making process. Charities, for instance, often present donation amounts that include a high-priced option, a low-priced option, and a desired middle ground. The high-priced option serves as a shock factor to dissuade donations, while the low-priced option is seen as insignificant. The desired middle ground becomes the target donation, leveraging friction to nudge individuals towards a pre-determined outcome. This Goldilocks strategy uses friction to manufacture a sense of balance and can influence decision-making.
The Importance of Checklists and Speed Bumps in Various Fields
Speed bumps and checklists have proved to be invaluable tools in different industries. Checklists have significantly reduced medical mistakes during surgery, with the introduction of simple steps such as confirming patient identity and agreeing on the procedure. Psychological resistance to checklists initially persisted among surgeons, but their perception changed when asked if they would prefer being operated on by a checklist-following surgeon. Similarly, rock band Van Halen implemented a seemingly self-indulgent speed bump in their contract to identify promoters who overlooked critical technical details, ensuring the safety of their massive productions in smaller markets. These examples illustrate how speed bumps and checklists can create positive outcomes and save lives.
This week we look at how smart marketers use Speed Bumps to generate greater sales. While modern marketing loves a friction-free fast transaction, smart marketers know that a perfectly-placed speed bump can slow the selling process down Plus, we reveal why Van Halen wanted all those brown M&Ms taken out of the bowls. You may be surprised.