The Experience Economy
Content about The Experience Economy
Learning about the experience economy is one of my favorite subjects. This page will help you learn to think about how experiences are shaping our world and changing so rapidly.
The Experience Economy
The term Experience Economy was first described in 1999 in a book by Pine and Gilmore called, “The Experience Economy: Work is Theatre & Every Business is a Stage.” (Affiliate Link). I first heard the term from my friend, Matt Jensen, around 2004. And he was so excited when he told me about it, that I bought it on my way home from his office.
Years later, I recorded a Make Marketing Easy Podcast episode with him, and we talked a lot about those early days. The tenets of the book influenced the medical practice that Matt still runs to this day, Vance Thompson Vision in Sioux Falls, South Dakota.
Is The Experiences Economy New?
No. It's not. But as a result of The Experience Economy book, we finally knew what to call them.
For years, Walt Disney understood the value of experiences. And so did Ritz-Carlton with beautiful hotels, attentive staff, and attention to detail. In both of these businesses, does anyone ask how much it costs?
Why Do Experiences Matter?
Creating experiences give you the chance to be unique. Because being part of the experience economy gives you the chance to control how a person feels about your product or service.
After all, you might have the same product as your competitor. But how you create the buying experience, user experience, and service experience can yield tremendous success in the experience economy.
How Do You Create Experiences?
I think the first step in creating experiences in the experience economy goes back to our work around Buyer Personas. When you create these personas, look for personal qualities that might help you create an experience.
For example, American Girl dolls didn’t sell just dolls. They sold an experience of bringing the doll into the store to get her hair done, buy new clothes, and have tea. They created an experience where a doll, a child, and a parent may spend an entire day that they won’t soon forget and are willing to pay for.
To Conclude About The Experience Economy
The Experience Economy is one of my favorite topics to write about, discuss, and experiment with. As a result, the content here is just the beginning.
There are blog posts below where you can learn more.
If you’d like a free pdf that I put together about how to make your customers and prospects feel special, fill out the form below. Or, if you’d like to schedule a time to discuss something you’re working on, email me at Joel@makemarketingeasy.com.
Good luck and good marketing and selling!
The cataract surgery patient experience in many practices is broken. Couple this with a commercial process that asks a person to make a high-value decision at the same time they learn they need surgery and you may agree that something must change. What’s great is a Nashville start-up, Surgiorithm, is just what doctor’s need! How…read the post
When is the last time you met someone you’ve read about and admired for a long time? This happened to me last night with Marc Benioff, the CEO of Salesforce. How did this occur? I love Salesforce, believe in the platform and tell anyone who will listen why. As a result, I was invited to…read the post
Yesterday someone humbled me by listening. She didn’t just nod, smile and walk away. Instead, Mareshah Lynch took action and made me feel special. Listening Takes Effort Mareshah Lynch is the patient counselor at Eye Care of Maine. She works with Peter Kohler, MD, an Ophthalmologist who is a LASIK and Premium Cataract Surgery Specialist in Waterville, Maine. Yesterday I…read the post
Seven trends may provide the answer to the question, “Will Millennials, LASIK and Cataract surgery technology influence Ophthalmology?” These emerging beliefs, commercial strategies, and technologies portend an environment rich with opportunity for those who adapt and frustrating for those who do not. Millennials – Providers and Patients Four millennial children in my family make me…read the post
Rarely does the sequel meet the payoff of the original. When Hilton Hotels had a good idea not well executed that I wrote about on Wednesday, I didn’t expect a follow-up message. As Paul Harvey used to say, “Now, the rest of the story.” The person transporting me to the hotel where I was booked…read the post
Recently my wife, Jean, and I drove by a Red Lobster and discussed that we had never eaten at one. Well, at least, together. I confessed that I am a closet lover of the cheese and herb butter biscuits they served as an appetizer and had visited the establishment on several occasions while traveling on…read the post
The first time I stayed in a Ritz-Carlton was in April of 1991 in St. Louis, Missouri. I went there for a work meeting and before that I had never heard of such a place. Growing up in Minnesota, we didn’t have any in our city. Amazingly, we still don’t. In May of 2005, I…read the post
Yesterday an article that I wrote was published in Cataract and Refractive Surgery Today This article establishes my point of view in ophthalmology. I am grateful that it appeared in a popular industry publication and humbled because they accepted my work. You may read it here.read the post
“While Doctors debate, patients decide” is a quote from Ophthalmologist, Charles Kelman, MD. Dr. Kelman is the inventor of the machine that is still used today by ophthalmic surgeons to remove the cloudy crystalline lens during cataract surgery. Dr. Kelman was a flamboyant person who is claimed to have uttered the quip, “While doctors debate,…read the post
The field of ophthalmology is in the midst of tremendous change. Hyper-evolving technology, a veritable tsunami of patient demand for services with increasing expectations, a significant consumer element added to the physician patient relationship and an uncertain reimbursement environment work together to create a landscape that is ripe for creative destruction. ‘Creative Destruction’ is a…read the post