The Creative Alliance, Strategic Marketing, Interactive, Public Relations

Experience Trumps Brand and Price

Two Minutes for Entrepreneurial Leaders.

Lauren, the printing rep for our live music business called me the other day and asked, “When would you like me to deliver this month’s promotional material? I heard the printing is done early and thought you might like them now.” I said sure, and asked what time she could bring them by. “How about right now?” Lauren said with the typical smile in her voice.

When she arrived, she pulled me aside and said, “T, I’ve got two tickets for the Nuggets game tonight for you!” Lauren knew I loved basketball. “Wow, I’ll take them!” (not even thinking if I could go or not—just figured I’d make a way). Handing me the envelope, Lauren added, “And I also made sure you got free valet parking.” Walking out the door, she asked about my brother who was recently hospitalized. I said he was in good spirits, thanked her again, and walked back to my office. The next day, my brother called and asked if Lauren was the same girl I was bragging about who did our printing.

She had just sent him flowers.

A recent research study by Convergys confirmed that America has “shifted from a service economy to the experience economy, where customers are in control, brands are becoming commodities and successful companies create consistently superior experiences.” 86% of customers now believe service defines the brand. “The customer experience is at least as important as product quality and more important than brand or price.” The not-so-good news is that 42% of customers will stop doing business with a company following a bad experience…and never tell the company why they left.

After my 11 years at CareerTrack (once the nation’s leader in professional development seminars), and now as a CEO of three businesses, I believe that company leaders can only improve overall customer experience two ways: the first is finding creative ways to “go above and beyond” in delighting customers; the second Is leading by example.

This is good news for Lauren’s company. And, by the way, they just promoted her.