Delayed Gratification Brands
The consistently good Brand Mix pointed me in the direction of a great article in the New Yorker about the psychology of delayed gratification. Experiments were conducted with 4 & 5 year old kids where they were given the choice to eat a marshmallow immediately or if they could wait 15 minutes, they could have two. See this hilarious video example of it in action. Psychologists stumbled on the theory that those kids who were better at delaying gratification became more successful in later life (as measured by academic and career success, wealth etc..).
It made me consider whether there are brands today that could be considered to be delayed gratification brands? By this I mean brands that increase in value because we have to wait before we get to use them. I found it really hard to generate a list, mainly because we can pretty much have what we want when we want it today. Even a brand like Starbucks with its new VIA coffee ensures that you can have a great cup of coffee even when you’re nowhere near a cafe.
Apart from serious luxury goods, the only things we typically crave but can’t immediately have are either distributed on a limited basis OR have not yet launched (like a new movie not yet in theaters, a new iPhone not yet on the market). Even big ticket items like cars and vacations are easily accessible to anyone with a decent credit rating. What brands these days have created greater value by making their customers delay gratification?
October 14th, 2009 at 5:48 pm
I love The Dozen too! Thanks for the mention and it’s interesting that this one video has sparked three different lines of thought. Yours, mine and also those of Ben Kunz who included the video in a post about the validity of controlling ideas in this networked world http://bit.ly/IgRsW
On delayed gratification, how about:
1) Pumpkins: There are a few things that are only available seasonally. For me, pumpkins are more “special” than, say, strawberries which used to be only available for a few weeks and now you can get year-round.
2) Layaway plans: Back in fashion now that credit is tight (but will probably fade away again when times get better)
3) 401Ks: Future financial security and money only available before retirement by paying a big penalty
Typically we marketers look at any sign of delayed gratification as an opportunity to develop something more faster delivering and more convenient.
October 15th, 2009 at 7:03 am
How about Fidelity, T. Rowe Price, or vitually any retirement product distributor? One could argue that the peace of mind that comes from purchasing the product could be immediate gratification, but for those of us less type A personalities, the pay off comes at age 65.
October 16th, 2009 at 2:21 pm
I think you’re probably right Anne. The best examples I had were ones that had a “double effect” i.e. an instant gratification from purchase and then a delayed gratification from consumption. Think: pre-ordering stuff from Amazon or itunes. This can be pretty effective at building anticipation, which generates a greater sense of worth when you actually get the product in your hands. Unless of course the product doesn’t live up to expectations, in which case the sense of disappointment is even worse.
October 19th, 2009 at 4:27 pm
Wine, wine is a delayed gratification if you are serious about it, buying bottles and letting them ‘rest’ until thier perfect.
Education is definitly delayed gratification, at first it has a negative balance, but eventually it should pay itself back with a nice interest…some day…right?
Reputation, building your personal brand is delayed gratification, you are constantly planting seeds that may or may not bear fruit in the future, but if you keep planting, somthing is bound to bloom