Dan Heath on the Economic Upside of “Moments”
Motley Fool Hidden Gems Investing
The Motley Fool
4.3 • 3.1K Ratings
🗓️ 26 January 2021
⏱️ 4 minutes
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| 0:00.0 | With the Motley Fool Money Extra, I'm Chris Hill. |
| 0:09.6 | Dan Heath and his brother Chip have written several bestselling books about business and |
| 0:13.8 | behavior economics. |
| 0:15.6 | One of the most recent is the power of moments, why certain experiences have extraordinary |
| 0:20.8 | impact. |
| 0:22.4 | In the book, they studied how different businesses had figured out ways to create experiences, |
| 0:27.8 | both for employees and customers that benefited all parties involved. |
| 0:33.0 | When I talked with Dan Heath, one of the things we discussed was one example from the book |
| 0:37.7 | involving Southwest Airlines. |
| 0:40.2 | Now if you've ever flown Southwest, you probably know that one of the ways they try |
| 0:44.0 | to have fun is with amusing in-flight announcements. |
| 0:48.0 | But in all my years of flying, it never once occurred to me that those funny announcements |
| 0:52.9 | also provided an economic upside for Southwest Airlines. |
| 0:57.6 | Like you, I always thought of this as just this is Southwest personality coming out. |
| 1:02.4 | It turns out there's actually a pretty strong tradition of funny flight safety announcements |
| 1:06.6 | to Southwest to the point where at headquarters there's a wall that enshrines some of the |
| 1:11.2 | best lines they've created. |
| 1:14.2 | One of my favorites is put the oxygen mask first on yourself and then on your child. |
| 1:20.0 | If you're traveling with more than one child, pay attention to who has the greater earning |
| 1:24.2 | potential. |
| 1:25.2 | Sort of like cynical parenting humor. |
| 1:32.2 | And so Chip and I started working with their insights team at Southwest and like many |
... |
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