It’s the Experience Economy stupid!

Experience economy

David and his wife Jennifer arrived at the hotel on a Saturday afternoon. As they arrived, they were greeted warmly by the hotel ambassadors wishing them a Happy Anniversary. “Welcome to the Renaissance Hotel, we are delighted to have you here today.”

As David and Jennifer were checking in, the staff engaged in a conversation about how they met couple of years back and had their wedding here at the hotel. They were reminiscing about that special day with the fine details of the banquet service to their last moments of departure.

They raved about how the hotel staff created magical moments by creating lasting memories that encouraged them to come back for a weekend anniversary gate away. In fact, they remembered the hotel staff that surprised and delighted them when they discovered a bouquet flowers arrangements personalized specifically to them.

We live in an age where customers or guests don’t care so much about what you say, but how you made them feel.

That goes for every business that serves the customer and its employees. Customers and employees today are looking for added value to their daily experiences. Average or standard does not cut it anymore.

Furthermore, average will leave you behind the competition in any competitive market.

Joseph Pine II and James H. Gilmore in their best seller, “The Experience Economy,” say that “When a person buys a service, he purchases a set of intangible activities carried out on his behalf. But when he buys an experience, he pays to spend time enjoying a series of memorable events that a company stages-as in theatrical play-to engage him in a personal way.”

As a leader, what are you doing to create memorable experiences not only for your customers but your employees? How do you engage in a personal way?

Here are three suggestions to elevate a customer and employee centric culture in your organization:

Get to know them in a personal way-Customers and employees alike want to feel important and that someone knows them as a person rather than a number. So, how do we go about doing that? Ask questions and be curious about the customer and employee from the very first moments of contact. Don’t wait until things go wrong. You have to be proactive and be genuine about getting to know them better.

Anticipate their needs-What happens when you anticipate someone’s needs in advance? They feel like someone took the time to know their preferences and their likes and dislikes about your establishment. When you anticipate the customer and the employee needs, they feel cared for like their own family. Remember, when you came home from school and your mom or dad prepared a meal for you or saved your favorite snack?

Create an emotional lasting impressionBoth customers and employees go home for the day with stories to tell. The question is, will they share a positive experience or a negative one? As a leader, you have an influence that can create a lasting impact with those experiences on a daily basis both with your customers and employees.

You can create an emotional connection by adding value to people through meaningful conversation about their family or going the extra mile to make someone’s day. They will remember you for that because you cared enough to serve them.

What about you? What are you doing today to create memorable experiences for you and your team?

3 thoughts on “It’s the Experience Economy stupid!

  1. Great article reminding us the importance of the experience. People want to feel good about who they do business with. Simple advice: If you want loyalty, get to know your customer, anticipate their needs and create a lasting positive.

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