Book Review: Nir Eyal – How to Build Habit-Forming Products

Nir Eyal – How to Build Habit-Forming Products

The journey of a thousand miles begins with a single step. …
I have now undertaken the journey toward becoming the best version of myself.

And what could be a better start than reading?

Please find below my humble attempt to review an amazing book titled “Hooked” by the one and only Nir Eyal.

I hope you would like it! Any constructive feedback would be more than welcome!

This book is not only for Entrepreneurs, Product Managers, or Marketers anyone else who is interested in creating habit-forming products can be found useful.

So, Habit? What is your understanding of the verb “Habit”? Any regularly repeated behavior that requires no thought is one of the ways we learn to set out complex behaviors. The aim is to dominate customers to use our product or service, over and over, without ads, promotions, etc

The model emphasizes four Phases by Nir Eyal:

(1) Trigger,

(2) Action,

(3) Variable Reward,

(4) investment.

# Triggers the first phase in the Hook Model.

1. Paid Triggers – Paid can be effective but costly ways to keep users coming back which includes advertising, search engine marketing, or influencers.

2. Earned Triggers – Drive ongoing user acquisition, companies must keep their product in the limelight such as through media coverage, viral content, or app store placement.

3. Relationship Triggers – People love to tell one another about offers like user invitations, referral marketing, or social alerts.

4. Owned Triggers – Consistently show up in daily life such as email lists, app notifications, or other opt-in alerts.

# The Second phase of the Hooked Model is Ability.

Ability to complete an action and the user’s willingness, or capacity for completing those steps. We have to measure the time, i.e. how long it takes to complete an action.

The fiscal cost of taking an action, the no of employees involved, high level of mental effort and focus would be required to take or continue the action.

We also need to take care of how much the action matches or disrupts existing routines from the non-routines.

# The Variable Reward is the third step in the Hook Model.

1. Tribe Rewards – Rewards of the Tribe or Social Rewards which make us feel accepted, attractive, important, and connected with other people.

2. Hunt Rewards – Rewards of the Hunt need to acquire physical objects, and supplies that aid our survival.

3. Self Rewards – Rewards of the Self, is an element of mystery to the goal which makes the pursuit of mastery, competence, and completion.

#The fourth step in the Nir Eyal Hook Model is the Investment phase.

The collection of information, experiences, and interactions can make a service more valuable over time. The company found that the more information users invested in the site become more committed to a product or service.

Organisation believes that following the right people, and building a following for oneself, increases the value of the product. Reputation as a buyer, seller, or member of a community makes users more invested to stick with a service.

Once users have invested time and effort, they are less likely to switch to any competing product or service.

Hooked is all about helping customers build habits for using your products.

Do follow oneshivangi in all social media platforms.

Thank you Nir Eyal for this awesome learning!

Cheers!

#nireyal#hooked#reading#pursuitofexcellence#transformation#journey#bookreading#bookreview#futureleader