Sep 01, 2015

This Is the #1 Thing That Gets Customers to Come Back

Are you doing this at your events? A Nobel-award-winning economist and two acclaimed business schools say you should be!

Sep 01, 2015

This Is the #1 Thing That Gets Customers to Come Back

Are you doing this at your events? A Nobel-award-winning economist and two acclaimed business schools say you should be!

Successful WPN stores don't just plan a tournament for Prerelease.

They turn their entrance into another plane. They hand out cupcakes adorned in the five colors of Magic. They hail their champions with a custom-built staff.

These extra touches require extra planning and budget. Are they worth the investment?

A Nobel-award-winning economist and two acclaimed business schools say yes.

Here's why:

Great Emotions Make a Great Impression

It's not the overall experience that forms a memory. It's the intense emotions we feel.

The "Father" of Behavioral Economics, Daniel Kahneman, calls this "the Peak-End Rule." His research suggests that customers judge a retail experience only by the extremely good (or extremely bad) emotions they feel.

Everything else—time spent, net positive or negative impression—is quickly forgotten.

The MIT-Sloan Management Review reports that many businesses have found success by "identifying and focusing on points in the service cycle where emotions tend to be high."

When are emotions highest at your events? When an excited player enters your store minutes before Prerelease begins. When winners step up to claim their rewards at Friday Night Magic.

If you can amplify any already exciting moments with awe-inspiring décor, unique, personalized rewards, or any other creative, unexpected experience tied to the set's theme, you'll make an indelible impression.

And that impression can directly influence your bottom line. Because:

75% of Shoppers Who Have a Great Experience Say They'll Return.

According to a study sponsored in part by the Wharton School of Business, shoppers overwhelmingly report a desire to return to a store that delivers a great experience. And they influence their friends to come too.

Nearly 80% of Shoppers Who Have a Great Experience Talk about It

Great experiences get people talking to their friends and acquaintances—between four and five people, on average.

A Great Brand Experience Gets Customers Coming Back

 

This same Wharton School of Business study identified five factors of a great retail experience. Of these five, Brand Experience was the number one factor in determining a shopper's loyalty to a store.

What goes into Brand Experience? Engaging a customer's senses through exciting store décor ... making customers feel they're special with personalized rewards and top-notch service ...

In short, all the elements of a well-planned, on-theme event.

Battle for Zendikar Prerelease is only a few weeks away. How are you planning to elevate emotions and make an indelible impression on your players? Check back tomorrow for some great ideas and resources to get you started!

By Nina Hess

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