Pride of Ownership: When pride leads to sales
Author: Klaus Pilsl
A touch of magic pervades the world of online shopping: "Pride of ownership" - a term that sounds rather sober and emotionless in the academic world, but in the world of e-commerce resembles a love spell. It describes the feeling of pride that customers feel when they own something they have designed themselves. And the real magic behind it? It converts fleeting clicks into loyal customers and keeps sales humming. But before we get into that frenzy, let's take a look at what science has to say about this seductive topic.
The joy of design and the science behind it
The 2018 study, "Pride of Ownership: An Identity-Based Model," tackles the link between product design and consumer identity formation. Researchers found that a product or brand has the ability to help consumers:in five key aspects of identity formation: Cultivating personal taste, achieving independence and adult status, social status, building close relationships, and connecting with groups.
This is particularly exciting with product configurators. When customers have the opportunity to design a product according to their own ideas, they not only express their aesthetic preferences, but also construct their identity. This significantly increases the feeling of "pride of ownership," because the product becomes a reflection of the self.
By offering options that allow customers to express their tastes, independence, or social status, product design can evoke a deeper emotional connection and pride of ownership. Both independent pride, which promotes the individual side of identity, and interdependent pride, which targets social roles and group connections, play a role.
The study also shows that the "Pride of Ownership" can vary over time. A well-designed, customizable product can therefore not only trigger immediate joy and pride, but also create a longer-term emotional bond.
This scientific approach underscores how decisive the joy and fun of designing are for emotional attachment to a product. A product configurator that offers customers this freedom can therefore be an effective tool for increasing buyer loyalty and ultimately boosting sales.
The joy of design: The neural fireworks of shopping
"Joy is the engine of life," says Prof. Gerald Hüther, one of the most renowned brain researchers in the German-speaking world. He emphasizes that joy in creating is not just a pleasant feeling, but the basis for sustainable learning, creativity and a fulfilled life. (in addition a children's book tip: "How does happiness come into the head", by Prof. Gerald Hüther and Inge Michels).
When customers have the opportunity to design a product according to their own ideas and needs, the purchasing process becomes a creative act. This not only triggers joy, but can, according to Prof. Hüther, create the neurobiological foundations that strengthen customer loyalty ("Enthusiasm is fertilizer for the brain"). In other words, a customer who finds joy in the design of his or her product experiences a small neuronal fireworks display that reinforces the pride in what has been created ("Pride of Ownership").
The friend of satisfaction is the enemy of returns
It is a common assumption in e-commerce: satisfied customers are less likely to return a product. However, this principle becomes even more significant when customers have designed the product themselves. Since customers build up a personal bond with the product through customization, the likelihood of a return is significantly reduced. You could say that the customized product is like a personal work of art for the customer, and who would return their work of art?
The aforementioned study on the "Pride of Ownership" provides scientific substantiation for this. It shows that identity formation through product design increases the feeling of "pride of ownership. This feeling can lead to customers being less inclined to regret or return their purchases, as they see the product as an expression of themselves. By increasing the "pride of ownership", the return rate can be reduced and thus the overall efficiency of the business model can be improved.
Word of mouth: when pride speaks
Imagine you have designed a custom pair of sneakers. Of course, you then show them off to your friend:s and post photos on Instagram. This organic, emotional marketing channel can be incredibly valuable for businesses. Not only do you get free advertising, but the high quality of the recommendation - "Look, I made this myself and it's great!" ... and their sales increase.
Reseller: Where growth begins
Happy customers are returning customers. Once you've experienced the joys of Pride of Ownership, you'll come back often. The joy of creating builds satisfaction and creates a self-reinforcing loop of success.
Conclusion
The magic of "Pride of Ownership" in the world of e-commerce is a multi-faceted phenomenon, amplified by joy, creativity and human nature. It offers a win-win situation: customers get a personalized product they truly value, and suppliers enjoy the benefits of increased customer satisfaction, brand loyalty, and sales.
So, let's go! Create creative space, ignite the neuronal fireworks in the minds of your customers and watch your business soar to new heights.
Definition and Meaning of Pride of Ownership
Pride of ownership is a term that describes the pride and satisfaction someone feels when they have ownership of something. This pride can refer to physical possessions such as a house, a car, or other tangible goods, but it can also refer to intangible things such as ideas, projects, or relationships. The sense of pride often comes from investing time, effort, and emotion in the possession or object, which leads to a deep sense of connection and appreciation. It can also serve as motivation to take good care of and maintain the possession, contributing to increased self-esteem and a positive outlook on life.
How are configurators and pride of ownership related?
Configurators strengthen the feeling of "pride of ownership" as customers make a personal investment in the product. By designing products according to their own wishes, they develop an emotional bond and an increased sense of pride that comes from customization and unique ownership.
What does Pride of Ownership mean in relation to life?
Pride of Ownership in the context of life is about feeling a proud and fulfilled sense of ownership over one's life and choices. It is about taking self-responsibility, being aware of one's actions, and developing a deep appreciation for one's personal experiences, successes, and challenges. This feeling can lead to increased self-esteem, life satisfaction and a positive outlook on life.
What does pride of ownership mean in relation to e-commerce?
"Pride of ownership" is a term often used to describe the phenomenon when people take pride in owning or acquiring something. In the context of e-commerce, pride of ownership refers to the sense of satisfaction and pride that customers feel when they buy a product online. When customers are proud to own a particular product or brand, they are more likely to become loyal customers and leave positive reviews. This feeling can be influenced by various factors in e-commerce, such as the quality of the product, the design of the website, the use of a configurator, customer service and brand reputation. Companies in e-commerce often strive to foster this feeling among their customers, as it can strengthen customer loyalty and generate positive word-of-mouth.