Yesterday was the opening day for the annual SXSW V2V conference in Las Vegas, Nevada. The boutique conference that focuses primarily on entrepreneurship again targeted their efforts in that space with a collection of speakers and mentors helping participants to learn and grow.
The first session of the day included a talk with Christian Goy on Why Consumers Really Buy Your Product. Through his work with the Behavioral Science Lab, Goy contends that there are three main elements to consider when trying to engage consumers, whether that be to buy your product or engage with your site.
The The first element to consider is that people don’t use just one element to make a decision on whether or not to engage; their history, experiences, and priorities will dictate whether or not they proceed, and how. Therefore, in order for a brand to begin building utility, they have to consider what other factors their product brings to the table that may or may not engage their base.
According to Goy, once we as product developers understand that people use multiple factors, we must introduce the second element: the fact that people will see those same factors in different lights, and weigh them differently based on those experiences. For example, credit card rewards may not be as important to me as they are to you, causing us to look differently at providers.
The third element focuses solely on building the brand utility; by helping customers see themselves and their needs in your brand and continuing to build relationships you build a strong base that will hopefully continue to follow you.
Other sessions at SXSW V2V included classes on social media and a keynote address from the founder of Banjo, notes on both of which will make their way to the news section of CHCKNS soon. Make sure to check back again tomorrow too for more on what CHCKNS learned at SXSW V2V today.