This article in Nature interested me.
The authors have undertaken research, based on asking people to put values against different scenarios, to try to isolate the value people place on their cars.
The research was undertaken in America so obviously is heavily skewed towards cars, but it showed that the ability to get around accounts for less than half of the value people attribute to cars. The majority of their value comes from things like freedom, autonomy or status.
This is nothing new but it is important.
The article reminded me of my podcast conversation with Rory Sutherland. In that we talked about the fact that the world of public transport is unusually bad at seeking to generate and harness positive emotional experiences.
For example…
Trains provide the satisfaction of getting work done. But it’s often hard to guarantee that you’ll be sitting at a table seat with a plug socket. So trains don’t make the most of the opportunity
Trains could be associated with 1930s style luxury but, with the honourable exception of the Night Riveria lounge car refurbishment, modern carriages appear utilitarian and stark.
People like to feel clever; but the ticketing system makes people feel stupid.
People like to feel savvy, but the fares system requires large up-front payments.
People like to feel like they’re doing good but almost no public transport routinely calculates your carbon footprint savings.
People like privacy, but almost no public transport service allows you to buy it.
One of the ones I’d never have thought of, but Rory explained to me, is the reason that the class 319 trains on Thameslink were so unpopular is that people prefer to be high and looking down (that’s why people pay so much extra for an SUV). The class 319 seats made you feel low. In that context, bus companies could really benefit (a double-deck bus beats an SUV!) but virtually no bus companies guarantee you a double-deck ride.
All this is a shame. Car companies are global leaders in harnessing positive emotional power. The public transport industry needs to think harder about how they make people feel.
There are some great examples. Contactless takes away the need for upfront payments. Transdev are great at building local brands that make you feel good about where you live. The First West of England open toppers make you feel like king (or queen) of the road.
But these are exceptions not the rules.
So I’ll target this last paragraph at one of the most important audiences for this message: finance directors.
FDs, if you see a business case that promises positive emotional engagement, it’s not bollocks. It’s how companies like Apple and Tesla got where they got.
