In my previous Slingshot Basics post, I exposed how your customers naturally transition from an Infatuation Interval to the Entitlement Period – unless you can keep them in an ongoing state of infatuation. How then, can you possibly do this?
One strategic target is to extend the Infatuation Interval of your offering as much as possible. For example, think about the extended Infatuation Interval of Nintendo’s Wii, or that of The Da Vinci Code, which was a worldwide sensation for years after its publication. Be mindful to recognize if your offering goes as far as producing a significant number of permanently infatuated consumers who feel entitled to having your offering remain unchanged.
This is interesting follow-up to a story I told in my Slingshot book. My topic was in-flight entertainment, and how individual seat-back TVs provided a whole new and infatuating flying experience.
But I also pointed out that inexplicable design flaws as well as quickly advancing consumer electronics technology may soon make the TVs obsolete – and therefore a risky investment for airlines. It turns out, my prediction was right. Airlines are beginning to dump the entertainment systems – and the move may benefit both passengers and the airlines. Why would that be? Because the systems rapidly transitioned from providing Infatuation to passengers to becoming Pain Points for all parties involved.
Any highly successful and well-received offering that you put on the market transitions from an Infatuation Interval to the Entitlement Period, barring those that create a permanent infatuation.
During the Infatuation Interval, consumers are fixated on the offering’s novelty, seduced by its perceived benefits, and blinded to its potential shortcomings. As the veil of infatuation wears off, consumers gradually take ownership of the offering, that is to say, they will no longer consider themselves privileged but rather fully entitled to it. The perception of ownership passes from provider to consumer.
Consumers feel that they now possess full rights of ownership for the offering.
It is exciting to report that Slingshot has been selected to be the overall theme of this year’s Americas Competitiveness Forum.
This 3-day event will feature over 40 thought-leaders and bring together both business and political leaders. So it’s quite an honor that Slingshot was selected as the event’s overall promotional façade. My role is that of architect and host of the Forum for Partnership of the Americas, which is the opening day of the event. Write me a note and let me know if you plan to attend! You can see details here:
The ability to overstep taken-for-granted boundaries is a deeply empowering process for all spheres of life. And it often leads to deceptively simple solutions. I have a great example for you from China.
The story centers around the chronic, worldwide challenge of caring for the elderly. What to do with family members who no longer have the ability to care for themselves? A trailblazing, young, Chinese entrepreneur has just the idea: Take your grandmother with you to your work.