I have NEVER been a fan of willingness to pay models. Heavily dependent or whether it is your money or somebody elses money-- and to me never really translated into what happens in the real world- as David nicely pointed out. Also a huge disconnect between what a person perceives as being important now vs. weeks or months from now!
Ever read Edward Bernays? Sometimes it’s engineering magic. Want to sell more books? Don’t advertise books. Work with developers to ensure each newly built home has empty bookshelves.
David - Self-reported willingness to use (or be loyal) is a widely biased measure, even for consumer products. You can imagine how poor it would be, as a predictive tool, for an evolving digital health product surrounded by so many uncertainties. I think logic still works - but perhaps using behavior to help predict. Either observed (say uptake of another digital device), or indexing WTP against behavior and weighting results (Nielsen uses this for predicting market shares of new grocery products).
I love these thoughts. It's hard to advocate for magic over logic internally, but the truly special things are more magic than logic, as you say.
I have NEVER been a fan of willingness to pay models. Heavily dependent or whether it is your money or somebody elses money-- and to me never really translated into what happens in the real world- as David nicely pointed out. Also a huge disconnect between what a person perceives as being important now vs. weeks or months from now!
Ever read Edward Bernays? Sometimes it’s engineering magic. Want to sell more books? Don’t advertise books. Work with developers to ensure each newly built home has empty bookshelves.
David - Self-reported willingness to use (or be loyal) is a widely biased measure, even for consumer products. You can imagine how poor it would be, as a predictive tool, for an evolving digital health product surrounded by so many uncertainties. I think logic still works - but perhaps using behavior to help predict. Either observed (say uptake of another digital device), or indexing WTP against behavior and weighting results (Nielsen uses this for predicting market shares of new grocery products).