Let’s say on a scale from 1 to 7 (1 = miserable customers, 7 = your #1 raving, greatest advocates) most of your guests are a 4/5. They have an enjoyable experience, but they’re not shouting about it from the rooftop.
Forrester researchers have built models to analyze the financial value of these customers. They know that an airline customer who rates an experience as a 7 will spend about $2200 on air travel, versus a 4-rating customer who will spend only $800. They've done this sort of research across all industries and found similar numbers.
Here's the real kicker: Forrester discovered that if you focus all your energy on moving 4-6 customers to 7, you’ll earn about 9x more revenue. Imagine if ALL your guests were the over-the-moon types that rave about your experience to anyone and everyone who will listen? The word-of-mouth ROI potential is massive!
And yet, Forrester estimates, on average, companies spend 80% of their time and resources trying to improve the experience of unhappy customers. Even though the findings show that there’s nine times more to gain by elevating positive experiences than by eliminating negative ones!
That process of elevation – of moving customers to 7 – is not about filing pits or paving potholes. To create fans, you need the remarkable, and that requires peaks. Peaks don’t emerge naturally. They must be built.
So, if you’re ready to start creating more financial value per guest AND reaching more people at the same time, start building those peak moments. This requires breaking the script, raising the stakes, and increasing sensory interaction.
Every single strategy that I advocate for and teach aligns with this. It's simple: the more value you deliver, the more you can charge. And yet, most experts and companies in your inbox are probably trying to sell you on tools and services that don't do anything to help you create something remarkable - right?
If the shiny objects (*cough* AI *cough*) are going to help you create more time & space to focus on elevating your experience - go for it. But don't forget about these findings and what REALLY leads to profit - its the extraordinary, enriching, meaningful experience, always.