Knowledge Heroes #1: Dr. BJ Fogg. Forget big change, start with a tiny habit!

Knowledge Heroes 1: Dr. BJ Fogg. Forget big change, start with a tiny habit!

In today's fast-paced world, we are constantly bombarded with information and faced with the challenge of adapting to the "new normal." This holds true not only for individuals but also for industries, such as the OTT (Over-The-Top) industry, which is currently grappling with the issue of advertising fees. The question on everyone's mind is whether a low-cost advertising fee, around 5500 won, would be acceptable to consumers. To answer this, we must consider the quality of the service provided.

Dr. BJ Fogg, a renowned psychologist and behavior scientist, suggests that instead of aiming for big changes, we should start with tiny habits. This concept can be applied to various aspects of our lives, including the way we approach challenges in industries like OTT.

The idea behind starting with tiny habits is that they are much easier to implement and maintain compared to drastic changes. By breaking down our goals into smaller, more manageable actions, we increase the likelihood of success. This principle can be applied to the OTT industry's dilemma regarding advertising fees.

Instead of imposing high advertising fees on consumers, OTT platforms should consider offering a low-cost option that provides the basic level of service. This would allow consumers to feel satisfied and willing to accept the fee. It is important for the OTT industry to understand that presenting a cheaper pricing option as a "discount" for a subpar service is deceptive and will not go unnoticed by consumers.

To truly add value and attract customers, OTT platforms should offer higher-tier pricing options that come with additional features and benefits. This approach ensures that consumers feel they are getting more for their money and are motivated to upgrade their subscription. By incorporating this strategy, the OTT industry can create a win-win situation where consumers are satisfied and willing to pay for the services provided.

So, what actionable advice can we take away from Dr. BJ Fogg's concept of starting with tiny habits and apply it to the OTT industry's advertising fee dilemma?

1. Focus on incremental changes: Instead of implementing drastic changes in advertising fees, consider making small adjustments that are more easily accepted by consumers. This could involve introducing a slightly lower fee or offering additional benefits for a slightly higher fee.

2. Prioritize quality: Ensure that the basic service provided at the lowest advertising fee is of high quality. Consumers should not feel like they are receiving a subpar service just because they are paying a lower fee. This will help build trust and maintain customer satisfaction.

3. Add value to higher-tier pricing options: To encourage customers to upgrade their subscription, offer additional features and benefits that justify the higher cost. This could include exclusive content, early access to new releases, or enhanced viewing options. By doing so, customers will feel that they are getting more value for their money.

In conclusion, starting with tiny habits can have a significant impact on various aspects of our lives, including the way industries approach challenges. The OTT industry's dilemma regarding advertising fees can be addressed by offering a low-cost option that provides a basic level of service, while also presenting higher-tier pricing options that come with added value. By focusing on incremental changes, prioritizing quality, and adding value to higher-tier options, the OTT industry can navigate the "new normal" successfully and satisfy customers' expectations.