The Goldfish Rule, which is based on a time-tested loyalty strategy, works by giving customers unexpected extras. Those extras improve the brand, drive loyalty, and promote referrals.

Referrals are key. Referred customers are up to four times more valuable than customers acquired by other means. Why? A referred customer spends twice the amount of money and refers twice the number of customers than non-referred customers do.

The Goldfish Rule -- and the strategy of giving existing customers more than they expected -- isn't new. Leading companies, such as Apple, Doubletree, Enterprise, L.L. Bean, Southwest, Starbucks, and Zappos have leveraged such gift-economy principles for years to create customers for life.

Bottom line: Stop spending dollars on chasing prospects. Instead, focus on giving customers and employees more than expected. Giving more builds loyalty to your brand, which translates into increased sales, word of mouth, engagement, and productivity.

I recently had the chance to sit down with Moe Abdou of 33 Voices. Here's a quote from Moe reflecting on our conversation:

"One of the guiding principles in life for me has always been to add more value than I receive.  This philosophy has served me well both personally and professionally; and

has been especially reassuring when forging new relationships.  

 

Since the beginning, our singular focus at 33voices has been to contribute to the success and wellbeing of entrepreneurs. We do that by identifying recurring gaps in knowledge and experience, filling them with the unique perspective that only the world's most progressive thinkers can provide.  One such thought leader is Stan Phelps, who reminded me that there's no such thing as meeting customer expectations; you either exceed them or you lose."

Think about these three critical moments when designing your customer experience.

1. First - What is your welcoming gesture or greeting? For example, what comes to mind when you think of beginning your trip to Hawaii? If your like me, its receiving a lei at the airport upon arrival. 

2. Peak - Designing a Memorable Experience. What is your signature extra or moment?

3. End - Making that Last Impression. What's the last thing you do before a customer leaves, hangs up or logs off?