Roy's Blog

June 9, 2014

Are you in the product or experience game?

Most organizations are product and service focused.

They push what they produce or supply at you. They claim their stuff is the best value at the cheapest price.

Research has proven conclusively that people get more long term gratification when they spend money on EXPERIENCES. A family vacation. A Zip-line ride. Fishing off the beach with the grandchildren. A 4-hour snorkelling adventure? A movie with someone you love.

Sure, a new SUV is exciting at first but it doesn’t take long before it becomes a used car.

With customer gratification comes loyalty, which means that organizations must focus on experience creation if they want to stand-out from the competition and thrive.

A number of companies are waking up to the importance of experiences to their overall marketing program by appointing a Chief Experience Officer (CXO) to be accountable for the creation of “memorable moments” for their customers.

Marriott is one example. Their “EVP, Chief Resort Experience Officer Marriott Vacation Club International” sets the tone for what’s important to Marriott and what customer success looks like.

The CXO works across the organization to ensure that all functions work synergistically to provide a seamless dazzling experience for the customer. Not an easy task to be sure but one that is critically important to move the focus away from flogging products and services.

Dip your toe in the experience pool.

Declare that EXPERIENCES are your end game.

Establish accountability at the most senior level in your organization.

Do it NOW!

Cheers,
Roy

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