The Value of an Experience
What is the value of a good experience? What is the damage done by a bad one? As you consider the answers to these questions, pivot your thinking to your customers and employees? What is the value of their experience to you and them? Now imagine that the value of, or damage from, an experience is multiplied a hundred times? How important does it now become to focus on creating positive outcomes for these groups?
Over the years, my wife and I have visited the Salish Lodge in Snoqualmie, Washington. Some of you may remember this as the location for the series Twin Peaks in the early 1990’s. We have spent time in the attic listening to musicians spin their craft, seen the leaves change in the fall, watched the falls in the snow, enjoyed sitting by a fireplace in the winter, and frequently ordered the insanely large country breakfast on a peaceful Sunday morning. We even took inspiration from the lodge and the surrounding Pacific Northwest when we remodeled our house a few years ago. The point is that we have very fond memories of the lodge and the people there.
During a recent Sunday morning breakfast visit, I found myself in the restroom staring at a used paper towel that had been left behind on the floor by the sink. Whether the paper was left by accident, intentional, or simply bad aim trying to ring the trash can I cannot say, but I suddenly found myself picking it up and placing the scrap in the bin so that everything looked back in its proper place.
Afterward, I contemplated what compelled me to tidy up a restroom in another’s place of business. Kristi and I both hoped to create more good memories from future visits and possibly to share the experience with more of our friends and family. I realized as we walked the path to look at the Snoqualmie Falls again that the affection I held for this place created a sense of ownership powerful enough to encourage action on its behalf. The paper towel resting on the floor, out of place, seemed to tarnish the image I cherished in my mind.
My tale is not unique. Few things will inspire adults to give away their hard earned wages as the need to save a building full of precious child hood memories from demolition. After all, who doesn’t like to visit places brimming with nostalgia?
In the The Life Changing Magic of Tidying Up, Marie Kondo describes a simple principle to organize your home — the only possessions worth keeping are the ones that bring you joy. I have wondered what it would be like to apply this measure to every aspect of life — emotionally, intellectually, as well as physically.
What if your customers took this same approach? What if they decided only to keep those products that lived up to their promise, created positive results, and delivered value by helping them achieve their goals? In other words, what if your customers only kept the products that brought them joy by improving their condition?
We have many types of metrics to measure how much our customers do, or do not, like our product. The most popular feedback mechanisms include customer surveys, CSAT numbers, and NPS scores. But what if we just asked our customers “Does my product bring you joy?” or “When you think about how you use my product, do you have more good memories than bad?” Value creation and value delivery are deeply intertwined with customer satisfaction. It’s not enough to build a great product. You must also deliver a great experience because that experience will feed the client’s long-term memory of transacting business with you.
Retaining your employees is very similar to your customers. We are social creatures, even introverts like myself. Too often, companies treat employee satisfaction like an absent parent on Christmas that can buy a child’s loyalty with presents and perks. It is exciting of course to see the boxes to unwrap, but you cannot buy loyalty. Good memories and experiences may not be able to retain an employee indefinitely, but bad ones will certainly, and quickly, drive him or her away.
The way to transform every customer, every employee, into your advocate is to create a positive experience for them that will last longer than a single product purchase or project assignment.
