The Psychology of Collecting and Strategies for Product Virality

The Psychology of Collecting and Strategies for Product Virality

Introduction:
Collecting is a common human behavior that is motivated by various factors such as love, anxiety, and desire. Additionally, the endowment effect plays a role in our tendency to value things more once we own them. This article explores the psychological reasons behind collecting and provides insights on building virality into product strategies.

The Psychology of Collecting:
One psychoanalytical explanation for collecting is that unloved children learn to seek comfort in accumulating belongings. Collecting becomes a way to fill the void and find solace in material possessions. Furthermore, collecting can be motivated by existential anxieties as the collection becomes an extension of our identity that lives on even after we are gone.

Building Virality into Products:

1. Two-Sided Reward: Creating an incentive for users to invite their friends and for their friends to accept the invite is an effective way to build virality into a product. The gifting effect can be utilized to encourage user engagement and expansion.

2. Appeal to Vanity: Appealing to users' sense of vanity and competitiveness can drive them to spend more time using a product and invite others to join. Displaying metrics that can be improved upon, such as connections on a professional networking platform, incentivizes users to invite more people to connect with them.

3. Collaboration: Products designed for collaboration or communication between coworkers inherently have viral potential. When users collaborate and communicate within a platform, they naturally invite others to join, expanding the user base.

4. Embeds: Allowing others to embed a product into their website increases its visibility and reach. By enabling easy integration, the product becomes more accessible and can attract new users through different online platforms.

5. Artifacts Shared on Social: If a product generates unique and interesting content, users can be encouraged to share it on their social networks. For example, Pinterest allowed users to pin items from the web and share them on Facebook, leading to increased engagement and exposure.

6. Artifacts Shared via Messaging: If a product generates artifacts or URLs that are expected to be shared via messaging, it can leverage the viral nature of private conversations. Users sharing these artifacts with friends and family can introduce the product to new audiences.

7. Signatures: Including a product's branding or information in users' signatures can serve as a subtle way to promote the product. This method ensures that every communication from the user acts as a potential advertisement.

8. First Message Sent on Existing Messaging Platform: Leveraging existing messaging platforms by encouraging users to send their first message using the product can spark curiosity and prompt others to explore the product.

9. Highly Visible Hardware: For hardware products, high visibility is crucial for viral growth. Examples like Square and the outdoor Nest Cam demonstrate how hardware products can gain popularity through their visibility and unique functionalities.

Conclusion:
Understanding the psychology behind collecting helps us comprehend the motivations behind human behavior. By incorporating strategies for building virality into products, businesses can enhance user engagement, increase their user base, and achieve long-term success. To summarize, the three actionable advice for building virality are: implementing two-sided rewards, appealing to users' vanity, and leveraging collaboration and communication features. By utilizing these strategies, businesses can create a viral loop that drives organic growth and sustained user engagement.