I'm raising my glass to Joe and Jim for this seminal contribution to creating a tipping point for acceptance of experience practice around the world. 200,000 copies and 12 languages later, The Experience Economy continues to be the best starting point for understanding the importance of creating intentional experiences to creating profitable growth and customer advocacy.
The Experience Economy gives us a great model to understand this progression of economic value to customers:
- Commodities. Easily interchangeable and undifferentiated materials from the natural world.
- Goods. Tangible offerings (products) you can mass product and hold in inventory.
- Services. We'll do it for you - intangible activities for specific customers.
- Experiences. "Experiences are events that engage individuals in a personal way." (from The Experience Economy, pg. 12.)
- Transformations. Game changers; life-altering engagements.
I'm a fan.
Joseph and I typically get sideways on a critical element MISSING from their book and their perspective -- experiences aren't just those you create as ideals. People HAVE experiences whether you design them or not.
ReplyDeleteI don't know if Joseph doesn't see the value in designing business interactions. I've never really been able to get him to 'engage' in a discussion to assess his concerns/distinctions. He simply waves off the broader definition as if he had the power to do so. Not very constructive.