“Fear-of-missing-out (FOMO) is more powerful than fear of losing.”
Naved Abdali
Bragging rights. Every word of the title to this blog post contributes to a powerful boastful statement which may lead to people in your reference groups to purchase the same identical phone from Apple in order for them to look “good and stay relevant” in accordance to the social norms.
“Check out my new Xiaomi Mi 11 phone (Blue in color and 256GB in storage capacity!” The volume of impact derived from this statement is just not the same isn’t it? The people from your various reference groups would probably give you a polite reply and pretend to be interested in your new phone for the next 2 minutes.
Apple’s iPhone has been on a pedestal in terms of brand and product image for the past decade. What did they do and consistently improvise in order to reach the market position which they are in right now? Let us now delve into the STEPPS which Apple has undertaken through the years.
Apple took the STEPPS forward
When the world sees the English fashion model and actress with millions of followers on her Social Media accounts using an iPhone, the world will be persuaded to think that the iPhone is relevant and premium.
The principles behind the iPhone phenomenon can be better understood by looking at the STEPPS values which the consumers hold close to their hearts: (S)ocial Currency, (T)riggers, (E)motion, (P)ublic, (P)ractical Value, and (S)tories.
Apple’s (S)ocial Currency & (T)riggers Factors
The social currency and triggers are closely correlated. Social currency allows Apple to have a strong influence across the various demographics and reference groups. The iPhone’s social currency has established a strong credibility amongst consumers based on strong social media presence. With a slew of celebrities such as Samuel L Jackson and Kim Kardashian using them and more than 560 million tweets on Twitter regarding iPhone, it is no surprise that they have such a high social currency value.
With the high social media penetration rates in the Asia-Pacific region (APAC) of more than 90 percent, it can be safely concluded that the social currency and triggers factors of Apple have a huge impact. The triggering factors of Apple can be seen from the constant environmental stimuli which keep Apple in our minds from time to time. The stimuli come in various forms. It can range from a social media post to a conversation with your acquaintance regarding the latest iPhone.
Apple’s (E)motion and (P)ublic Factors
Do you still remember the time when you bought an Apple MacBook after seeing 80 percent of your classmates owning one in class? The strong desire to purchase it was further strengthened by the amusement you felt while trying it out because of the friendly interface and the sleek-looking design. Those are the Apple’s emotion and public factors in action.
Conformity is a strong influence as it forces people from all walks of life to fit in to a set of societal norms. This conformity is a huge part of the public factor which Apple utilizes very well through the years. They have always advertised their products as the optimal choice for our daily lives with implementations such as the their iCloud system which draws consumers into getting various products in order to be part of the Apple eco-system. As their userbase grows, their public factor grows and this growth leads to strong positive emotions for consumers when they purchase Apple products.
Apple’s (P)ractical Value and (S)tories Factors
Do you still remember the story about the Little Red Riding Hood? Regardless of our age, we will always remember how the Little Red Riding Hood realized that her grandmother was actually a wolf in disguise. That is the power of the “stories” factor.
Apple utilizes the stories and practical factors very well. These can portrayed from the abovementioned YouTube advertisement regarding the sturdiness of their iPhone 13. It can even withstand the impacts resulted from the rough handling by cute toddlers. These are factors which consumers will remember for a prolonged period of time.
STEPPS by STEPPS
The end result of Apple’s implementation of the STEPPS framework through the years is consumers’ Fear-Of-Missing-Out (FOMO); should they not jump on the bandwagon of purchasing their products. This has resulted in consistent massive revenues for the companies through the decades. Everyone wants to be seen as someone who’s relevant and sleek with an arsenal of Apple products.