If you ask yourself which are the days you remember it is plausible to be the days you had fun and experienced something worth remembering. It is also rather plausible that you would tell people about it (research show you will tell at least 12 people!), that you would remember it u2013 and perhaps like to do it againu2026That is the basics around the experience economy.
The hospitality industry, wine tourism, sport tourism, business leisure and so forth u2013 it doesnu2019t really matteru2026Good product offerings are essential, great branding helps, excellent customer service a non-negotiableu2026But will really make you stand out in the customer mind (and probably for a long-long time!) u2013 is a brilliant experienceu2026
The challenge is to ensure such an experience, in order to transform into value. (And FYI u2013 value for both the business and the customeru2026) It doesnu2019t necessarily mean you have to be something completely innovative and extraordinary, you could quite possibly turn a fairly ordinary day, event, happening into an extraordinary experience. You are not the valuator of the experience worth u2013 the customer areu2026And offered the right experience in the right way might be worth a premium to him you wouldnu2019t have foreseenu2026
Are you enjoying the benefits and value from the experience economy? If not u2013 look at ways to do so. Itu2019s a very lucrative (and fun!) way to build profitsu2026