Daily Buzz: Give Potential Members Psychological Ownership
It can be hard to get the attention of potential members. One way to reach them: Giving them psychological ownership. Also: the evolution of the meeting industry.
Businesses needs consumers to thrive. For associations, the same is true with members. But the challenge lies in creating strategies that capture potential members’ attention—and engage them long enough to persuade them to join your group.
“A simple concept can help businesses cut through the noise. It’s called psychological ownership,” says Colleen P. Kirk in a post for Harvard Business Review. “That’s when consumers feel so invested in a product that it becomes an extension of themselves.”
To build psychological ownership, Kirk says organizations must use “at least one of three factors: control, investment of self, and intimate knowledge.”
Control means giving consumers (or potential members) a role in developing the product or service.
Investment of self includes offering opportunities for people to customize their products or services.
Intimate knowledge happens when people believe they know a brand inside and out, ultimately creating a special bond and loyalty to that organization.
“Companies legally own their brand, but their most devoted customers may own it psychologically,” Kirk says. “Businesses should cultivate this feeling—and then respect it.”
What Drives the Event Industry
#MeetingsProf Kyle Stevens describes the shift in trends for the #events industry over the past decade. Do you agree? https://t.co/QugSPnziKz pic.twitter.com/VFNP9Nvzi8— Francis Friedman (@FrancisFriedman) October 15, 2018
The meetings industry has changed a lot over the past 10 years. “From today’s high-tech capabilities and mindfulness practices to more experiential and cultural influences, we are working in a really exciting time where we have more access than ever to technology, unique activities, and authentic experiences that can provide an unforgettable event for attendees,” says event expert Kyle Stevens in a post on Smart Meetings.
Stevens says shifts in technology and the demand for a new kind of meeting space have driven much of the meeting industry’s changes—though it will be experiential meetings and customization that will carry the industry through the next 10 years.
Other Links of Note
Many organizations are using artificial intelligence in their email marketing strategies—but not every consumer is on board. Here’s how to strike the right balance, from Entrepreneur.
Your conference needs a content hub. Dave Lutz from Velvet Chainsaw explains why.
Should nonprofits adopt a for-profit mindset? Maybe not, but Nonprofit AF explains seven game-changing lessons they can learn from their corporate counterparts.
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