Go-to-Market Plays #5: How the IKEA Effect Affects Us

Truth: people love things more when they build it themselves. Called the IKEA effect, it’s a concept that impacts retention strategy, product satisfaction, and lifetime value. Building something gives people a sense of pride and accomplishment. We feel it’s a worthwhile investment, even if the bookshelf comes out slightly lopsided. Plus, what do Spotify and Betty Crocker have to do with the IKEA effect? Daniel gives an explanation on why they’re more similar than you think. If you’re looking to focus on retention strategies, this is the episode for YOU…and it’s short and sweet. ⌛ Follow Tamara: LinkedIn: https://www.linkedin.com/in/tamaragrominsky/ Follow Daniel: YouTube: https://www.youtube.com/@themarketingmillennials/featured Twitter: https://www.twitter.com/Dmurr68 LinkedIn: https://www.linkedin.com/in/daniel-murray-marketing Sign up for The Marketing Millennials newsletter: www.workweek.com/brand/the-marketing-millennials Daniel is a Workweek friend, working to produce amazing podcasts. To find out more, visit: www.workweek.com