Which makes you happier in the long run…experiences or possessions? Think carefully, because the answer to this question could well determine the success or failure of your business.
All of us have things we prize; that quirky little watercolor you fell in love with while on a trip to the shore, the elegant pearl necklace your grandmother left you, the racy red sports car you finally bought for yourself or even something as seemingly ordinary as your favorite knit sweater. 
But when it comes to long term happiness, almost anyone who has lived awhile will certainly choose experiences over possessions. And every parent knows the exasperation of seeing a child finally get a longed for toy, only to find it abandoned a few days later in favor of the next cool gadget.
Psychologists who study this kind of thing confirm that most people adapt to a new purchase in a matter of six to eight weeks, up to a maximum of three months, with the initial pleasure brought on by the purchase rapidly fading away. A new study by Ryan Howell, assistant professor of psychology at San Francisco State University, looked not only at purchases of “things” but purchases of experiences as well.
When participants were questioned about a recent purchase (material or experience based), specifically made with the intention of making themselves happier, most people reported being generally pleased with the purchase. But the people who purchased an experience; a trip, going to a concert or sports event and so forth, showed a higher level of satisfaction, both at the time of purchase and also after the experience was over.
One of the reasons for increased happiness with experiences is that participants reported a greater sense of vitality, both during the experience and in reflecting on it afterward…
This is not good news for those of us who sell products…both digital and physical.
After all, it’s hard to imagine your company’s shiny new product, say an information marketing home study course, even if it does come packed with more that a dozen DVDs and three thick printed manuals, having the ability to make your customers feel more alive. And the same goes for downloadable audio products.
But what if you could somehow combine the two…by arranging to give your customers an actual product-related experience?
You know as well as I do that many customers who purchase information products never use them, with many of those products ending their days stuck on a shelf or gathering virtual dust deep in the customer’s hard drive. So how can you provide those customers with an experience that is integrated into your products…
so their pleasure surrounding the purchase of your products grows instead of fading away?
Here are some ideas:
1. Teach your customers to consume the product - if you are providing your customers with an information product, learning to use the product and putting it into immediate use is an experience in itself. Consider including a Quick Start Guide to get your customers taking action right away.
2. Offer live interaction – When you initially launch the product, offer a series of live Q & A calls, just for the folks who purchase. They will be excited to be able to get on the phone with you and get their questions answered real time. You can include a recording of this Q & A session as a bonus to be used later with your product.
3. Set up a forum - where customers can go to interact with you or other board moderators, as well as network with other customers.
4. Offer a live customer-only event - By bringing your customers to a real life location, you have the chance to provide value on a massive scale.
These are just a few of the ways in which you can weave an experience around the purchase of your products, very possibly prolonging your customers’ happiness. And that’s a very good thing.
Remember: To do, or to have…
that’s the million dollar question!
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photo credit: Jason Askey – http://creativecommons.org/licenses/by/3.0
