What is it about these businesses that are being acquired for billions of dollars, or the ones that are worth billions of dollars?
By Mitch Joel. Do they really have something that much greater than their competitors? Are they simply doing things better than everyone else? Can any one of us truly admit that we could have seen the massive growth of Google or Facebook coming? How does anyone believe that companies like Snapchat or Uber are worth what they are currently being valued at? Maybe it’s not really about what they do, but much more about how these brands affect us, as human beings? How they get under our skin and become a part of our daily lives. Maybe it’s not about what they do, but rather the habits that they create within each and every one of us?
Great brands make consumers become habitual users.
If there was one new business book that I thoroughly enjoyed this past year, it would have to be Hooked by Nir Eyal. Nir is a journalist, teacher and speaker (and, he will be appearing in an upcoming episode of my podcast). His book (and his work) focuses on how brands can create things that are habit-forming for consumers. Eyal recently gave a compelling presentation on the topic at TNW (aka The Next Web) event in New York, this past December. The twenty-five minute presentation was just posted online. It’s well-worth your time and attention.
Mitch Joel is President of Twist Image — an award-winning Digital Marketing and Communications agency. In 2008, Mitch was named Canada’s Most Influential Male in Social Media, one of the top 100 online marketers in the world, and was awarded the highly-prestigious Canada’s Top 40 Under 40.
His first book, Six Pixels of Separation (published by Grand Central Publishing – Hachette Book Group), named after his successful Blog and Podcast is a business and marketing best-seller. His next book, CTRL ALT DEL, comes out in Spring 2013. You can find him here: www.twistimage.com/blog