YouTility is a concept has been developed by Jay Baer, in his bestselling book of the same name. So what is YouTility? According to Baer, YouTility is all about helping your customers. Helping can replace selling. Sell something and you make a customer. Help someone and you make a customer for life. For Baer, the difference between helping and selling is just 2 letters. But those letters make all the difference. Instead of trying to be amazing, focus on being useful. Being useful is easier to do and has a longer positive effect. Marketing should begin with the fundamentals of providing value and being useful. There are eight main elements of YouTility. These are:
• Give me helpful information
• Help me do my job/live my life
• Help me develop/learn
• Make me look good
• Entertain Me
• Promote Me
• Help me select and use products
• Help me learn about my behaviour/understand myself
So let’s focus on a few of these.
The Quantified self:
Socrates said a life unexamined is not worth living – and the notion of the Quantified Self is based on this concept. The idea of the quantified self is to measure our behaviour so we can learn from it. It started around health but has moved into other areas especially finance.
Gary Wolfe, the co-founder of the Quantified Self movement, argues that the more we start to understand our behaviour, the better we can control it. Numbers help us to better understand ourselves because we all make errors of fact and errors of judgment. We may think we know what we are doing, but often we get it wrong. Measurement data can tell us what is really going on. It can tell us the hard truth.
Nike + and Fuel :
Nike + and Nike Fuel counts all the activities of your athletic life – running, walking, basketball. Nike+ devices measure your moves and turn them into NikeFuel. NikeFuel is calculated the same way for everyone, so you can compare and compete with anyone.
New iPhone 5S:
Moving forward it won’t be a Nike app that’s figuring out if you’re running, walking or biking, it will be your iPhone. Wearable technology and life-logging is no longer just a fad.
With the launch of the new iPhone 5S, Apple announced the M7, a “motion coprocessor” that taps into the phone’s accelerometer, gyroscope, and compass to give the device a better picture of what you’re doing from moment to moment. Instead of just knowing “moving” or “not moving,” the M7 can tell if you’re standing, walking, running, or driving. The M7 will allow for more context-aware behaviour throughout our devices.
Wearable technology and life-logging:
There is an increasingly large amount of wearable technology on the market. Wearable self-tracking gadgets are only useful if you wear it consistently. They can be powerful behaviour motivators and can help to sustain positive behavioural change. So pick one that is convenient and easy to use.
YouTility is all about being useful. One Google Glass app, Glashion, was recently released this week where you can snap clothing and bags of footwear of other passers-by and then complete a comparison shop.
Another really useful app has been developed by a Japanese firm, Omron which has created a smartphone app that can instantly translate short pieces of foreign texts to help you understand things like street signs, menus in restaurants and pricing while abroad.
IKEA is using Augmented Reality to offer a new type of YouTility. The IKEA app allows you to actually see what furniture would look like in your house and whether it would fit in!
YouTility in Financial tools:
More and more banks are offering their customers enhanced advisory services and engaging with customers to create a new type of conversation – fusing human contact, digital services and tools seamlessly into a single coherent interaction.
Banks are suggesting tools for financial planning and budgeting, acting as a virtual advisors and offering peer comparison on selected products or services. They are offering highly relevant, targeted content to help manage money e.g. Edu’taining, interactive video and quizzes, games to help work out work out finances and visual, personalised financial management tools
This isn’t just an additional service, banks re also gaining valuable insights about a customer’s financial life to enrich the experience the bank can provide.
The founder of Moven, Brett King, says that Moven is creating an entirely new way of thinking about a bank account, giving the customer mobile insight and control every time they make a decision that could impact their financial health. The idea is the ability to create immediate financial awareness and then gamify behaviour to encourage saving and other positive behaviours.
UBank’s People Like U:
People Like U is a tool that gives consumers the ability to compare their own spending to the actual spending habits of other Australians.
Sorted offers New Zealanders free, impartial information and calculators to help manage their money throughout life and helps customers achieve financial goals with tools and calculators to work out finances.
EmotionScan uses state-of-the-art 3D facial imaging coupled with artificial intelligence algorithms to track and analyse your emotions in real-time, enabling you to find out how you really feel about money and therefore help you understand what you need to do in relation to that.
ANZ has been moving in this direction offering useful services such as online indicative home loan approvals, comparator tools, FastPay and Go Money.
How can you be a YouTility?
So YouTility isn’t just about apps – it’s about offering useful tools, information and services to your customers.
YouTility is marketing so useful, people would pay for is…..so what else could you be doing?