Create Experiences, Not Just Transactions

I have spent a lot of time in my career talking about, and training, how to create “experiences” around a product or service.  The product or service that we provide is the “stuff” and is easily to replicate.  My shinny new widget can be replicated and sold at a cheaper price at any time, and by any one.  If we choose to get into a competition on just the tangible “stuff,” the cheapest, fastest, most efficient always wins.  We are playing a game of transactions, not experiences.

A transaction, by definition, is simply an instance of buying or selling something.  An experience, by definition, is an event or an occurrence that leaves an impression on someone.   By investing in the experience that we create during a transaction, we are differentiating ourselves and creating a competitive advantage for our product or service.

When I go to buy something at a store, I am looking to make a transaction.  But, what if I have two stores to choose from for that transaction?  One is closer but the people aren’t very friendly, it’s dull and drab, and I don’t feel good about being there.  The other is a bit farther down the road, but the staff is friendly, the space is inviting, and the atmosphere is warm.  Will I make the choice based on the transaction or the experience?  Personally, I will drive the little extra distance, and pay a bit more if necessary, to have a better “experience” with that transaction.

I will have you consider that, no matter what the product or service is, your ability to create an experience first, will allow you to close more transactions.  People crave connection, comfort, and compatibility.  If I trust you, I will do business with you.  If I trust you and feel connected to you, I will do more business with you.  If I trust you, feel connected to you, and believe that you care about me while you solve my problem(s) I will be a customer for life.  You have created an “experience” around a transaction that cannot be easily replicated.

Whether it be a product, service, or relationship, where in your personal or professional life are you making transactions instead of creating experiences?  Where could you invest your time and energy to create something that leaves an impression on the other person?  Where can you build more trust, connection, and “value” into situations that have been treated like transactions?  If you want to grow your transactions, invest in the experience that you provide first!