Do you really need that new gadget?
This post could save you. At the moment, things are getting more expensive. Despite this, some of the sharpest marketing minds out there are doing everything they can to encourage you to part with your money to buy that latest, must-have gadget. The big question is, do you really need to?
Before we go any further, I’d like to introduce a quote I’d like you to consider. Theodore Levitt, a marketing professor at Harvard, once said, “sell the hole, not the drill”. He expanded on this by adding, “people don't want to buy a quarter-inch drill, they want a quarter-inch hole”.
It’s all about solving a problem people have. That’s the fundamental reason people buy things.
If this is true, why are people queuing up to buy new technology products that are ‘a little bit faster’ or have an ‘attractive new design’? The following factors are likely to have something to do with it.
Reward
The reward centre in our brain treats us to a pleasurable chemical hit, in the form of dopamine, when we think about that exciting new thing. This may feel good, but like those dopamine hits that encourage us to keep eating tasty treats, there can be too much of a good thing and it’s not always in our interest. We’re hard-wired to keep wanting more as well.
This may be new to you, but it probably won’t be a surprise to those sharp marketing minds.
Are you trying to solve a practical problem, or just trying to get an expensive chemical hit to feel better for a brief period before something else takes your fancy?
Status
We may be worried about what people will think if we don’t have the latest technology. This can become part of our identity and the fear of missing out can overwhelm us. Just do me a favour and think long and hard about whether the opinion of someone who judges you like this is really worth your attention.
Forget about those sharp marketing minds, they want to make you think you’re missing out and everyone will notice.
For some of us, new technology is a way of filling a hole in our life. The trouble is, that hole usually just gets bigger. Guess who wants to help us fill that hole and make us believe their product will do it? It helps to remember the actual hole Theodore Levitt was talking about.
Security
We also want to feel safe and secure. We want the latest technology that won’t let us down and in a lot of cases now, will protect us from harm. Some big technology giants spend a lot of time telling us how their devices will warn us if we’re in danger, alert us to things that need our attention and even call for help if we can’t.
Have a think about what those sharp marketing minds may be doing here.
More importantly, is this an actual problem for you. Is it something you have to spend all that money to solve?
The big question is, how will YOU use your technology? Forget those messages about people using their phones for satellite calls that are only available in the US and Canada, processors rendering professional, 4K video in seconds or using a device to record an entire band. Focus on what you need it for.
I think it would help to write a list of the things you need and what you’re likely to need in the next few years. Focus on what you need, not what the sharp marketing minds are telling you. Taking Theodore Levitt’s example, do you actually need to drill any holes? It’s crazy I should need to ask you that, but think about it.
Another important question is whether your existing technology will still get the job done? Will the speed and capacity of the new device really make a difference and more importantly, will it justify the price? There will always be a next big thing, so is it worth waiting a year or so until your existing device stops doing what you need it to do?
I don’t need to tell you what those sharp marketing minds will want you to do. Will it really make that much of a difference if you can drill the hole Theodore Levitt referenced a few seconds quicker?
Next time you’re about to buy that gadget you’re made to feel you can’t live without, just think about these three easy things:
What’s motivating you to make this decision?
Will it really be that bad if you don’t get it?
What do YOU need it for?
As always, I hope this helps. This is something I’ve struggled with, so I know how easy it is to get carried away. It goes a little deeper than that though. When I said at the start I wrote this to save you, I wasn’t just talking about time and money. I hope the things I’ve touched on reflect this.