A few years ago I helped a tech entrepreneur who was helping hotels rise up the Tripadvisor rankings. He had developed a sophisticated tech solution which helped raise his clients on average 50 places up the rankings. That could really boost their occupancy and profits.
One evening after a day poring over spreadsheets analysing his data, I asked what was so special about the hotel that ranked #1 in London.
He curled his lip in disgust and said
“Nothing – they just give every guest a cake”
Let them eat cake
Cake was clearly beating the tech in delivering a superior return on investment!
Making your customers – and other stakeholders – feel that they’re special with a great experience is priceless.
But don’t make it a habit
For occasional guests, a cake can make a great impression, but for regular customers it could quickly lose its magic (see hedonic treadmill). So it’s best to use intermittent variable rewards – “the most powerful pattern of dopamine release” as explained by the brilliant Dr Andrew Huberman.
Feeling like a winner
Offering prizes that any of your stakeholders could win is an effective way to do this. The anticipatory value of the prize is a powerful motivator.
(Delicious vegan chocolate cake image credit Cakedrop – who can help you delight your stakeholders)