Join me as I walk through a case study on Monday and Honey. We'll look at how they use the Habit Zone and Triggers to create a habit forming product.

The Habit Zone: Monday.com

From Site: "Founded in 2012, Monday.com is used by nearly half of the Fortune 500 and boasts a valuation on par with Dropbox, Asana, and Zendesk. A key driver behind the firms success is its ability to provide high perceived value to a frequent work task: managing time."

I really hate Mondays... the good thing is I'm not alone! In fact, 58% of adults hate Monday! That makes Monday.com a really good brand name for a workspace operating system that addresses the pain points of its users.

Monday has become a giant in its industry as it powers over 38% of the Fortune 500 companies. It also has 127,000 paying customers over 200 different agencies! That is impressive.

What makes Monday.com a habit forming product?

Monday.com has the ability to move through the Hook Cycle frequently and form habits. I mentioned the Hook Cycle at the beginning of Module One - The Habit Zone blog post.

We can take a look at the full Hooked Model below:

Hooked Model: TRIGGER -> ACTION -> VARIABLE REWARD -> INVESTMENT

Demonstrate value by focusing on behaviors that have potential to be high frequency behavior.

Integration, consolidating tools

Monday.com is a workspace operating system that allows you to consolidate all of your tools into one place. It's a one-stop-shop for all of your work needs. I helps users who spent 28% of their day checking email, cut that way down and feel good about it.

Focused on percieved utility

1. Behavior addresses problem that doesn't have an existing solution
2. Behavior is aspirational
3. Behavior is simple.

Most employees want to be more productive, but organizations get in the way. More than 20% of productive capacity is lost to "organizational drag". Monday Solves this.

Key Takeaways

1. Don't feel limited by the simplicity of your habit -Check Monday.com
2. Understand your customer's strategic goals
3. Attach a frequenty occurring behavior to your product

Case Study - Triggers: Honey

Begun as a way to save money on pizza, Honey has become an e-commerce staple that’s saved customers over $1 billion on their purchases. Much of Honey’s success can be chalked up to its simple and well-timed trigger that responds to a universal fear: buyer’s remorse.

Honey is a browser extension that helps you save money when you shop online. It's a great example of a product that uses triggers to form habits. It capitalizes on buyer's remorse and the desire to save money. PayPal paid 4 billion to acquire honey because of it's habit forming cabilities.

Honey can:

• Searches over 30,000 stores and returns best prices
• Masters triggers - pop ups letting you know you can save money

Here is how Honey associated products and triggers:

1. Created a Persona - "Make world more financially fit by transparency with coupons for more affordable stuff"
2. Establish Trigger - Fear of buyer's remorse. Honey identified as internal trigger
3. Notifies you of deal at checkout.
4. Association through saving money

Key Learnings

1. Keep customers in the hooked cycle by continually improving the product
2. Simplicity is best for external triggers