The ChangeThis manifesto by Denise Lee Yohn, It’s the Experience, Stupid!, explains why experience remains the frontier on which companies compete and win today
Mobile Shopping Fall 2012 Conference AgendaAmanda Aslan
Mobile Shopping Fall (October 22-24, 2012 in Austin, TX) is the leading US event where e-commerce and marketing professionals meet to discuss best tactics for maximizing engagement and driving consumers to point-of-sale via their mobile devices.
Learn detailed strategies from industry-leaders in retail, auto, food and beverage, travel, consumer electronics, and MORE.
Mobile Shopping Fall 2012 Conference AgendaAmanda Aslan
Mobile Shopping Fall (October 22-24, 2012 in Austin, TX) is the leading US event where e-commerce and marketing professionals meet to discuss best tactics for maximizing engagement and driving consumers to point-of-sale via their mobile devices.
Learn detailed strategies from industry-leaders in retail, auto, food and beverage, travel, consumer electronics, and MORE.
Your automotive or motorcycle dealership thrives on customer interaction and satisfaction. Now you have the opportunity to go beyond traditional media and engage prospects directly by expanding with social media, email and online marketing. If you partner with Benchmark Email, you gain access to open rates and unsubscribes - see what subject lines catch a customer's attention and which kinds of newsletters leave them flat. Best of all, in this comprehensive email marketing guide, we take you through the current state of automotive dealership marketing, compare metrics across dealerships and industries and prescribe a great, interactive way to connect with your customers and optimize your business.
What does it take to deliver a superb customer journey in today's globally connected and always-on world? Learn why moments matter and how Smarter Commerce is letting businesses apply insights and data to reach out to and engage customers at every crucial touch point.
What Is Multi Channel Retail?: Benefits, Challenges and ImpactsRizwan Tayabali
Multi-channel retailing is a deceptively easy concept. Simple in terminology, but complex to
explain and even more so to deliver. This paper provides an overview of what it is about, covering the
drivers, benefits, challenges and organizational changes needed to get there.
The Poor as Customers (Development Thru Revolutionary Marketing Concepts) - A...Magna Kultura Foundation
Marketing 101 has taught us all about market segmentation, targeting, and positioning. Traditionally, companies segment the market according to purchasing power or income level. Then they target and position themselves in that segment where members have money and high consumption levels, are easy to reach, sophisticated, and knowledgeable about the various products and brands present in the market. These members constitute the segment most fought over by companies as they belong to Class AB or the middle and upper class, otherwise known as the “top of the pyramid”(TOP).
Marketing to the have-less poses challenges in terms of discovering the peculiarities of the emerging have-less market as this segment has consumption and spending patterns different from the have-more. Moreover, marketing to the have-less means having to contend with a different kind of physical environment. However, the age-old principles of marketing remain: well-defined segmentation; accurate targeting; and clear positioning, which leads to innovations in product development, packaging, pricing, and distribution. Ultimately, the challenge to companies doing business with the have-less is to mine the fortune held in small quantities by the huge number of the yet-to-be tapped customers.
IBM Retail | The future of the Consumer Products IndustryIBM Retail
The market dynamics for the Consumer Products industry are changing rapidly and drastically. Explosive population growth, increased urbanization, an evolving customer base, and global climate and natural resource issues are creating both significant opportunities and daunting challenges. Learn the 6 capabilities of a winning CP company in the 21st century.
The TeleTech 2015 Customer Experience Benchmark Research ReportElizabeth Glagowski
Findings from The 2015 TeleTech Customer Experience Benchmark Report reveal that while in some cases both groups are on the same page, in others, they are miles apart.
Great Quotes on Story, Grit, Customer Experience & Competition -- from QUALTR...Denise Yohn
Brand expert Denise Lee Yohn curated quotes from Clay Christensen, Joe Pine, Angela Duckworth & other speakers at QUALTRICS Insights Summit 2017 #InsightsSummit #Qualtrics
Your automotive or motorcycle dealership thrives on customer interaction and satisfaction. Now you have the opportunity to go beyond traditional media and engage prospects directly by expanding with social media, email and online marketing. If you partner with Benchmark Email, you gain access to open rates and unsubscribes - see what subject lines catch a customer's attention and which kinds of newsletters leave them flat. Best of all, in this comprehensive email marketing guide, we take you through the current state of automotive dealership marketing, compare metrics across dealerships and industries and prescribe a great, interactive way to connect with your customers and optimize your business.
What does it take to deliver a superb customer journey in today's globally connected and always-on world? Learn why moments matter and how Smarter Commerce is letting businesses apply insights and data to reach out to and engage customers at every crucial touch point.
What Is Multi Channel Retail?: Benefits, Challenges and ImpactsRizwan Tayabali
Multi-channel retailing is a deceptively easy concept. Simple in terminology, but complex to
explain and even more so to deliver. This paper provides an overview of what it is about, covering the
drivers, benefits, challenges and organizational changes needed to get there.
The Poor as Customers (Development Thru Revolutionary Marketing Concepts) - A...Magna Kultura Foundation
Marketing 101 has taught us all about market segmentation, targeting, and positioning. Traditionally, companies segment the market according to purchasing power or income level. Then they target and position themselves in that segment where members have money and high consumption levels, are easy to reach, sophisticated, and knowledgeable about the various products and brands present in the market. These members constitute the segment most fought over by companies as they belong to Class AB or the middle and upper class, otherwise known as the “top of the pyramid”(TOP).
Marketing to the have-less poses challenges in terms of discovering the peculiarities of the emerging have-less market as this segment has consumption and spending patterns different from the have-more. Moreover, marketing to the have-less means having to contend with a different kind of physical environment. However, the age-old principles of marketing remain: well-defined segmentation; accurate targeting; and clear positioning, which leads to innovations in product development, packaging, pricing, and distribution. Ultimately, the challenge to companies doing business with the have-less is to mine the fortune held in small quantities by the huge number of the yet-to-be tapped customers.
IBM Retail | The future of the Consumer Products IndustryIBM Retail
The market dynamics for the Consumer Products industry are changing rapidly and drastically. Explosive population growth, increased urbanization, an evolving customer base, and global climate and natural resource issues are creating both significant opportunities and daunting challenges. Learn the 6 capabilities of a winning CP company in the 21st century.
The TeleTech 2015 Customer Experience Benchmark Research ReportElizabeth Glagowski
Findings from The 2015 TeleTech Customer Experience Benchmark Report reveal that while in some cases both groups are on the same page, in others, they are miles apart.
Great Quotes on Story, Grit, Customer Experience & Competition -- from QUALTR...Denise Yohn
Brand expert Denise Lee Yohn curated quotes from Clay Christensen, Joe Pine, Angela Duckworth & other speakers at QUALTRICS Insights Summit 2017 #InsightsSummit #Qualtrics
Eyal Glazner is a musical artist and a multidisciplinary educator Plays and teaches piano, guitar, bass, drums, percussion. during High School Appeared Eyal in Roxanne. Enriched and deepened his education in "Rimon" and combined academic studies for teaching in "lweinsky" for preforming jazz in "Rimon". During his career he was a member of "MAYUMANA" band. Elected to transfer workshops with Riki Gal and Mati Caspi in the TV Program "Star is born 2". Wrote music for commercials for companies such as Coca-Cola, Prigat, Hawaii, Bosh, OF TOV, Electra, Strauss. These days, showing up children show togther with Rami Kleinstein and "Dream production". Eyal was a partner in creating special projects with the Cameri Theater, Cameri Orchestra, nein Beach, Shmulik Noifiild. Wrote music for films (a big story, STRANGERS, RomanticA). All rights reserved to Eyal Glazner(C).
Интеллект экономика создается согласно концепции "Интеллект НЭП" и алгоритма расширения бизнес коммуникатора между потребителем и производителем со стороны потребителя. "Интеллект НЭП" имеет прототип - НЭП. Только НЭП создавался как экономика от организованного потребителя на реальных пунктах приема/продажи товаров и услуг, а "Интеллект НЭП" на Интернет площадке, Интернет бизнес коммуникаторе и логистических складах.
A Dell Healthcare Services POV on payment integrity, utilization management and provider management. Browse the slides and discover more at Dell.com/healthplans
Digital Leadership Interview : Pablo Rodriguez, Director of Innovation at Tel...Capgemini
"I believe that opening up innovation, working
more with partners, and being agile enough to include everybody’s contribution represents a big shift in innovation in this digital age."
White paper - Customer Experience TransformationPablo Junco
This white paper highlights the business value of customer experience as a differentiator and explores three critical enablers to guide organizations embarking on the transformation journey.
Digital transformation for retail business 101
What is digital transformation for retail? Is it necessary and how can you implement it? We shed light on transforming your business operations, the customer experience and adapting your business model to align with expectations of the digital customer to cover every aspect of your business transformation.
How Automakers Can Enhance Customer Experience in the New NormalCognizant
While other industries have built highly engaging and hyper-personal customer experiences, the automotive industry, comparatively speaking, has fallen short. The accelerating convergence of automotive-specific and generic consumer technologies presents a huge untapped opportunity for automakers to build tomorrow’s car-as-an-experience value proposition, even as the pandemic accelerates full-speed digitization across the board.
Answer SheetFin 331Homework 2You may wish to summarize your input .docxrossskuddershamus
Answer SheetFin 331Homework 2You may wish to summarize your input date to use for your solution if you intend to use Excel to make your computations.Optional Answer SheetName:Type Your Name HereLoanABCDLTVDescription80% LTV
Lower Rate80% LTV90% LTV Fixed 3080% LTV
5-Year ARMRateHigher RateLoanABCDDown PaymentLoan AmountMonthly Principal & InterestMonthly Mortgage Insurance PaymentProperty Taxes/monthInsurance/MonthTotal House PaymentLoan Payment used to qualify to ARMHouse Payment used to qualify for ARMHousing RatioTotal Debt to Income RatioAPR for the LoanNot RequiredDo they qualify for this loan?Down PaymentClosing CostsPrepaid Finance ChargesTotal Cash to CloseAnalysis of Your CalculationsType Your Name HereCalculate the difference in the cash required to close and the total monthly payment for the 30 year loan with the higher rate and the 90% loan with mortgage insurance.Additional Cash to Close
[Loan B Less Loan C]Additional Monthly Pmt
[Loan B Less Loan C]Should these buyers take the 90% loan and use the reduced cash to close to pay off their student loans? Explain you recommendation.Consider the ARM loan.What is the balance after 5 years?What is the maximum possible principal and interest payment on that loan in year 6, when the rate adjusts?Which Loan option would you recommend? Loan Why do you suggest this option?
Check YES
Check NO
R E P R I N T N U M B E R 5 4 4 0 9
S U M M E R 2 0 1 3 V O L . 5 4 N O . 4
How to Drive Customer
Satisfaction
By Rolph E. Anderson, Srinivasan Swaminathan and Rajiv Mehta
INTELLIGENCE
SUMMER 2013 MIT SLOAN MANAGEMENT REVIEW 13COURTESY OF WE FASHION
Savvy company executives
know that some of their greatest
and potentially most enduring
assets are their long-run cus-
tomer relationships. Trying to
sustain a competitive advantage
with new products is a frustrat-
ing game, where short-term
leads often erode quickly. But by
satisfying customers, compa-
nies can nurture long-term
relationships and customer
loyalty. What’s more, a small in-
crease in customer loyalty can
make a big difference in com-
pany profits. McDonald’s, for
example, calculated back in the
1990s that just one additional
visit per week by “heavy users”
would boost annual sales by
more than $10 billion dollars.
Blending Bricks
and Clicks
In retailing, customer loyalty
cannot be achieved for long by
keeping customer interactions
online distinct and separate from
those offline. Many consumers
have largely merged their shop-
ping to the extent that they go
back and forth between online
and offline retailers. They may
start out by looking at desired
products in a store, go online to
check out the products further,
then decide to buy them from an
online seller such as Amazon. Or
they may start searching online,
then go look at the items offline
at a Wal-Mart or Target store,
and perhaps buy them there
because they’re immediately
available. Si.
Digitization of Telecom and Smartphone Business: Post-COVID-19 Effects on the...ELEKS
"Digitization of Telecom and Smartphone Business: Post-COVID-19 Effects on the Industry" by Haroon S Khan, Founder & Chairman, SANSO.
The topic covers:
— The need for Digitalization of Telecom/Smartphone Business;
— Pros & Cons;
— Trend Changing;
— Post COVID-19 Effects forecast for the businesses in Telecom;
— Human & Digital world interaction especially in these days
these would be base points mainly;
— Digital currency and its need in this era of digitalization.
New lessons on building the consumer products brand experience. For CP companies, time, technology, changing consumer lifestyles, as well as disruptive competitors, are creating new opportunities beyond the traditional.
IBM Executive Report - New lessons on building the consumer products brand ex...Susanna Harper
Are consumer products (CP) companies about to have their Hollywood moment? Studios traditionally have been dream factories for consumers in a linear supply chain consisting of theaters and retail. But the combination of digital technology and Millennials has radically altered the entertainment industry. To reach increasingly empowered consumers, Hollywood is now a content creator at the center of a digital ecosystem, with business models that range from retail to direct-to-consumer. Similarly, for CP companies, time, technology, changing consumer lifestyles, as well as disruptive competitors, are creating new opportunities beyond the traditional. To take advantage, they must use digital technologies and secure the broadest possible ecosystem of business partners to create compelling brand experiences, drive purchase behavior and create unbreakable bonds with consumers.
Culture Is Everyone's Responsibility Infographic by Denise Lee YohnDenise Yohn
For an organization to achieve its desired culture, everyone must have a clear, consistent, common understanding of it -- and everyone must work together in a deliberate and coordinated effort to cultivate it. While each person or group is accountable in their own way, everyone shares accountability for achieving the desired culture.
Learn more in Denise's HBR article: https://hbr.org/2021/02/company-culture-is-everyones-responsibility
What You Do Is Who You Are -- Top 10 Quotes from Book by Ben Horowitz Denise Yohn
Ben Horowitz's latest book,What You Do Is Who You Are: How to Create Your Business Culture, provides exceptional insights on organizational culture -- how it works, how to build or change yours, and the elements of a good one. Here are my favorite quotes.
Quotes from successful entrepreneurs to help you start up, scale up, and be successful -- from San Diego Sport Innovators “Eye of the Innovator” Event, compiled by Denise Lee Yohn
The launch of my book, FUSION: How Integrating Brand and Culture Powers the World's Greatest Companies, was a terrific success. Thank you to everyone who supported it! This recap is a collection of most of the FUSION launch activities in one easy-to-reference place.
Samsung 837 is billed as an experience where “where culture and technology collide,” and a place to “discover concerts, screenings, immersive experiences and more.” Located in the Meatpacking District in Manhattan and designed by WonderWall Inc., it’s more than a store. Check out these images from inside.
Uniqlo's flagship store on 5th Avenue in Manhattan is a phenomenal customer experience that shows how to do retail experiences, brand engagement, and brand partnerships right. Take a look inside.
Customer Experience Brief: Google Pop-Up StoreDenise Yohn
Google recently showed off its newest hardware in pop-up stores in New York and Los Angeles. I "popped in" to the NYC location, in the Flatiron district of Manhattan, during the holidays. Here's a glimpse of the customer experience at the Google Pop-Up Store.
5 Retail Trends You Can't Afford to MissDenise Yohn
Five trends that comprise the essence of retail today -- quoted and inspired by RetailNext -- compiled by Denise Lee Yohn: 1. Shoppers; 2. Stores; 3. Staff; 4. Supply Chain; 5. Seasonality. Fundamental change requires a change in fundamentals. Start with shoppers and their values and needs, and then move outward through your organization's supply chain, staff, and stores to deliver shopping experiences centered on curation, convenience, and community.
UNSTUCK: Use the Brand-As-Business Management Approach to Troubleshoot Your Business is a short guide that introduces six prevalent business issues and the solutions offered by the brand-as-business approach.
Social Media Marketing World 2016 Takeaways Curated by Denise Lee YohnDenise Yohn
Top 20 Quotes from Social Media Marketing World 2016 featuring Guy Kawasaki, Gary Vaynerchuk, Brian Solis, Bryan Kramer, Mitch Joel, Dorie Clark, Mark Schaefer, Jay Baer and more #SMMW16
"What Great Brands Do" Book Launch RecapDenise Yohn
The launch of Denise Lee Yohn's bestselling book, What Great Brands Do, was a terrific success. Here are highlights of the media coverage, speaking engagements, reviews and more from the launch.
Musings about Marketing from Restaurant Industry Leaders (by Denise Lee Yohn)Denise Yohn
Soundbites about marketing, leadership, competition, and more from the National Restaurant Association’s Fall 2013 Marketing Executive Group Meeting -- curated by Denise Lee Yohn
The Mitchell Way Day 2013 by Denise Lee YohnDenise Yohn
B2B company Mitchell International staged a high-energy, interactive brand engagement experience to inspire and orient employees on the customer experience.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
2. | 135.03ChangeThis
Over 18 years ago, Joe Pine and James Gilmore declared
“Welcome to the Experience Economy” and described a new state in the progression of economic
value creation in which the emerging competitive battleground laid in staging experiences.
Since then pundits have suggested that commerce has progressed to the digital economy (based
on how the Internet created a global, interactive marketplace), the network economy (in which
value is created and shared by all members of a network), and most recently the sharing economy
(involving the sharing and reuse of excess capacity to increase the value of goods and services).
These developments have indeed re-conceived the economic landscape, remade entire industries,
and created seismic shifts in the way people live, connect, and do business. But they don’t detract
from the prominence of experience as the frontier on which companies compete and win today.
Businesses may not be charging admission to staged experiences, as Pine and Gilmore predicted,
but they are designing and differentiating their offerings to appeal to the buyers of experiences—
or, at least, they should be.
That’s because, when it comes to value creation, the more things change, the more they stay
the same.
3. | 135.03ChangeThis
What’s changed…
»» Of course, people buy through new channels today. Industry research firm eMarketer
projected e-commerce sales to account for $349 billion in 2015 , and Goldman Sachs
predicted sales through mobile devices would comprise over a third of e-commerce.
»» And spending has shifted. Morgan Stanley reported millennial consumers are spending
more on expenses like rent, cellphones, and personal services and less on clothing.
Likewise, Computerworld’s annual Forecast survey showed that IT executives plan to
reduce hardware spending, while services budgets for cloud computing, application
development, and wireless/mobile technology will continue to rise.
What hasn’t…
»» Companies still need to combat the commoditization of their categories. As the difficulty
to establish and maintain competitive advantage on product design or innovation
alone continues to increase, businesses need new avenues to differentiate and upgrade
their offerings.
4. | 135.03ChangeThis
»» In-person transactions through brick-and-mortar establishments remain the predominant
mode of retail commerce—in-store sales still comprise 94% ($4.3 trillion) of total retail
spending according to the U.S. Commerce Department.
»» The bar for appealing to, engaging, and satisfying customers remains high and businesses
must continue to break new ground to attract attention and be memorable.
So it’s still about the experience. Pine and Gilmore were right. Experience will “render irrelevant
those who relegate themselves to the diminishing world of goods and services”—and in fact,
is already doing it.
Businesses may not be charging admission to staged
experiences, as Pine and Gilmore predicted, but they
are designing and differentiating their offerings to appeal to
the buyers of experiences—or, at least, they should be.
“
5. | 135.03ChangeThis
What Is Experience, Exactly?
This manifesto focuses on customer experience, although these insights also apply to the
experiences all types of organizations offer to all types of stakeholder groups, including donors
for non-profits, patients for health care organizations, and employees of all businesses.
While customer experience can be defined as the sum of all interactions a customer has with
a company, most people operate with a narrower view. Some understand it as customer service
or service excellence — without recognizing that service is only one element of the entire
experience a customer has. Others consider customer experience to be customer marketing —
that is, the communications and promotional activities used to attract and retain customers.
Again, these activities represent only a fraction of the interactions between a company and
its customers — and as it’s been said time and again, what an organization says in its advertising
has far less impact on customer perceptions than what it does in reality.
Perhaps the most instructive understanding of customer experience is revealed by examining
each part of the term—customer and experience.
6. | 135.03ChangeThis
Customer represents the priority of customer experience—it’s about the customer,
not about the company.
That means that customer experience design starts with customers—who they are and what
they want, need, and expect—not where conventional enterprise starts, i.e., with an existing
product, a new technology, an innovative design, target price point, or bundle of features.
It also doesn’t assume the channel or delivery method. Customer experience puts the customer
at the center and builds out the offering from there.
As such, customer experiences must be empathetic, rooted in a deep understanding and
identification with people’s feelings, thoughts, and attitudes. The best customer experiences
reflect an almost intuitive understanding of the problems people have, often without people
even being aware they exist. Virgin America, for example, has designed a boarding pass
that replaces the half sheet paper commonly available from most airlines. Virgin’s boarding
pass is designed to be folded to fit into a pocket with all necessary information facing
outwards in large print. It provides a customer experience that people didn’t know they
needed but now wonder why other airlines don’t do the same.
7. | 135.03ChangeThis
Designing around the customer also requires that flexibility replace control. Different customers
will use a product or service differently, so companies can’t limit their offering to one type of
interaction or usage. They must allow for modification and modularity within a set of standards,
the way Uber gives its customers flexibility on types of service, payment options, and even
specific drivers. Even companies with a highly focused offering in a niche market must accommo-
date customer variation instead of trying to control it.
Experience expresses the provision of customer experience—it’s what customers
experience, not what they buy or use.
With customer experience, companies don’t simply fulfill functions or execute transactions—
they cultivate feelings around their products, services, and brands. As such, customer experi-
ences should resonate emotionally, appealing to the five human senses and expressing
a unique brand personality. People are fundamentally emotional beings and we are drawn to
experiences that make us feel something. Consider how Trader Joe’s makes grocery shopping—
a weekly, monotonous chore—actually entertaining. From the fun shirts employees wear,
to the bell used to let crew members know they need to open new checkout stands, to
the hand-painted signs and clever displays—all of these elements give the experience at
Trader Joe’s a sense of exploration, discovery, and fun.
8. | 135.03ChangeThis
The most extraordinary experiences aren’t just about relevance, meeting a need or fulfilling
a want; they’re about meaning, conveying something important or connecting through shared
values. Whether it’s workout apparel retailer Lorna Jane collecting used products to recycle
and make into new ones or Converse enabling people to express themselves by customizing
a pair of sneakers, these brands have created customer experiences that have meaning
beyond the purchase and use of their products.
So, customer plus experience equals different value.
customer + experience = different value
The most extraordinary experiences aren’t just about
relevance, meeting a need or fulfilling a want;
they’re about meaning, conveying something important
or connecting through shared values.
“
9. | 135.03ChangeThis
The Implications of Customer Experience
The enduring significance of customer experience has several implications.
For one thing, the locus of value creation and perception changes. Value is no longer derived
from the product alone; it’s spread out across a value chain. When using the free Wi-Fi and
charging pads for electronic devices at Starbucks, customers may be charged only for their coffee
but they’re actually paying for all aspects of the experience at the coffee shop. In turn, Starbucks
is no longer perceived as a place only to get great coffee; it’s a brand that improves people’s
productivity. A merchant who contracts with a supplier because it offers on-demand delivery,
technical support, and “free” returns may be paying the price listed on the bill of goods, but it’s
really buying a seamless experience. As such, the relationship shifts from a vendor-customer
one to a solution provider partnership.
These shifts are what led Pine and Gilmore to suggest that, in a full-fledged experience
economy, businesses will charge admission to their venues. Such a vision seemed far-fetched
nearly 20 years ago, but no doubt Apple could charge for entry into its stores now and
people would gladly pay it.
10. | 135.03ChangeThis
Also the ecosystems of organizations that comprise customer experiences involve a different
approach to strategy and management. Companies can no longer attend only to their operations
and brand; they must partner with other service providers to design and manage experiences
that deliver on customers’ elevated expectations and needs.
Airlines, for example, now realize that the air travel experience extends beyond the plane and
what happens inside it. Ground transportation to/from the airport, airport services and
concessions, security checkpoints and procedures, and baggage handling all influence customer
perceptions of the experience. That’s why British Airways partners with local providers
on the ground to deliver chauffeur and concierge services and Delta upgraded its terminal at
John F. Kennedy airport in New York to include restaurants offering tablet-based, location-
flexible ordering.
In another field, Equinox, the upscale fitness club chain, now partners with foodservice providers
like Earthbar, a mobile app provider to link its equipment to wearable fitness devices and
social networks, and fitness platform startup Lift Digital to deliver personal training into users’
homes via iPads and TVs. By doing so, it provides a complete health and fitness experience.
11. | 135.03ChangeThis
Such collaboration requires skillful management to integrate systems, processes, and employees
of multiple organizations, plus a comfort level with using open APIs and sharing customer data
and company IP—all the while enforcing brand standards and ensuring operational consistency.
Perhaps most importantly, culture rises as a top priority in the business of experience. Managers
must lead their organizations in significant cultural shifts:
»» prioritizing customer intimacy and empathy before product quality
»» moving from a product or service innovation focus to one that conceives
of entirely new experiences
»» valuing openness over control
»» facilitating collaboration across departments, business units, and organizations
Customer experience excellence results from having a clearly stated purpose and values that
are shared by everyone who contributes to customer experience design and management.
12. | 135.03ChangeThis
Extraordinary Experiences and Great Brands
Ultimately the experience economy requires a different approach to brands and brand-building.
Relying on brands as mere symbols of quality or cues of past glory is antiquated and ineffective.
But companies which use their brands as complete, strategic platforms that drive, align, and
guide everything they do become customer experience leaders.
Extraordinary experiences stem from strong cultural foundations, deliberate planning decisions,
and integrity in execution—all of which can be facilitated by a clear and strong brand. When
company leaders put the brand at the center of the organization and uses it as a management
tool, they are able to creatively design and consistently deliver great customer experiences.
This brand-as-business management approach is their “secret sauce.”
When company leaders put the brand at the center of
the organization and uses it as a management tool,
they are able to creatively design and consistently deliver
great customer experiences.
“
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Conceiving and using brands in this way enables companies to establish impenetrable
competitive advantages:
»» They are able to engage their workforces—often comprised of people who work
for other organizations in the experience ecosystem—with a strong sense of purpose and
unity so that every interaction a customer has is consistently on-brand.
»» They are able to draw customers away from computers, mobile devices, and other
shiny new technologies, and into stores and in-person interactions with the magnetic
attraction and distinct appeal that a compelling brand creates.
»» They are able to manage inventories and control costs by operating with laser-like
clarity and a firm commitment to what they will and won’t do because they are guided
by their core brand values instead of immediate pressures or the prevailing wisdom.
»» Above all, they are able to earn customer love and loyalty through experiences that
are irreplaceable and invaluable because they bring the brand and its distinctive value to life.
Great brands beget great experiences.
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Customer Experience, The Evergreen Economy
To be sure, technology will continue to dramatically change the way business is conducted.
Data will continue transforming inventory management, marketing, and pricing. Location-
based technology, intelligent devices, and augmented reality will give birth to new shopping
environments and new modes of commerce. Communications and payments will be
disrupted by developments in sensors and security.
And yet, it’s likely that 20 years from now, customer experience will still drive the economy.
Companies will still look to experiences that define and distinguish their brands and their
businesses to serve as their most powerful competitive weapon and their primary appeal.
People, after all, want to be engaged personally, deeply, and memorably. They want
companies to give them a reason to choose them, to make an impact that exceeds their
expectations, to give them something to talk about.
People want to experience extraordinary experiences.
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BUY THE BOOK | Get more details or buy a copy of Extraordinary Experiences.
ABOUT THE AUTHORS | Blending a fresh perspective, twenty-five years
of experience working with world-class brands including Sony and Frito-Lay,
and a talent for inspiring audiences, Denise Lee Yohn is a leading authority
on building and positioning exceptional brands. Denise is the author of the
bestselling book What Great Brands Do: The Seven Brand-Building Principles
That Separate the Best from the Rest (Jossey-Bass) and the new book
Extraordinary Experiences: What Great Retail and Restaurant Brands Do.
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This document was created on November 11, 2015 and is based on the best information available at that time.
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