Growth Newsletter #210
Today is a timeless lesson from the late Charlie Munger.
It works in life, business, and marketing.
Let's dive in 🕵️
– Neal
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This week's tactics
Don’t appeal to reason. Appeal to interest.
Insight from Poor Charlie's Almanack.
People are profoundly illogical.
Our actions are predominately driven by emotion.
Then, we tell ourselves logical stories to rationalize our irrational behavior.
Savvy marketers and founders recognize this and leverage it.
Here’s an example from Poor Charlie’s Almanack:
In short, to convince, don’t appeal to reason.
Instead, appeal to their selfish interests.
Let’s dive into tangible examples:
1. High-end electric car (ex: Tesla)
- Reason:
- Environmental benefits.
- Savings on gasoline.
- Low maintenance costs compared to traditional gasoline vehicles.
- Interest:
- Prestige from owning the newest Tesla.
- Break-neck acceleration.
- Quirky and novel features (whoopie cusions).
- Futuristic Full-Self Driving that your friends will be wowed by.
2. Fitness mobile app
- Reason:
- Cost-effectiveness compared to a gym membership.
- Convenience of working out at home.
- Variety of workouts that can cater to different fitness goals.
- Interest:
- Desirable outcomes, such as getting into shape quickly for a wedding.
- Ability to workout at home and not feel like you’re being judged or creeped on.
- Personalized training plans that make the user feel special and catered to.
3. Luxury skincare products
- Reason:
- The scientific research behind the products.
- High-quality ingredients.
- Benefits of using a scientifically formulated skincare regimen.
- Interest:
- Sell the dream of flawless skin.
- The allure of using products loved by celebrities.
- The exclusivity of having a luxurious skincare routine that not everyone can afford.
4. Educational children’s toys
- Reason:
- Explain how the toys enhance learning and development.
- Discuss the safety of materials used.
- Made from durable, high-quality materials.
- Interest:
- Promote how these toys can make their child smarter.
- The free time parents will have because the child will be distracted.
- How the toys will help their children succeed in the future.
5. Organic food products
- Reason:
- Detail the health benefits of organic eating.
- Absence of harmful pesticides.
- Positive environmental impact of organic farming.
- Interest:
- Emphasize the taste superiority of organic products
- The lifestyle connotation of health and wellness that comes with organic eating,
- The social status associated with making environmentally-conscious decisions.
We all know that we shouldn’t eat sweets and fried foods.
They’re bad for our health after all.
Yet almost every single one of us does.
So clearly the logical argument is not compelling.
The next time you’re writing copy, stop to notice whether you’re appealing to reason, or their selfish interests.
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— Neal & Justin, and the DC team.