In Partnership with Akeneo, John Evans.
In today’s crowded online market place, brands are realising that Customer Experience has to be a central focus point for their marketing strategies. It is critical for getting your customer’s full attention, to differentiate your brand and to make it stand out online. It ensures that they come back to you rather than a competitor.
Making your purchasing process memorable is key, providing an experience that satisfies your customer’s needs and creates an emotional connection with them, that moves them beyond just the product.
In our new Journal of digital commerce, Custom Experience series, we explore the importance of ‘The Experience Economy’ and how to build a superior product experience that inspires your customers to purchase.
Mastering ‘The Experience Economy’
The Experience Economy is a term coined by Joe Pine and Jim Gilmore in 1999. They stated, “In order to differentiate yourself and compete for your customers’ attention, you need to create an experience for customers that’s memorable.” The roots of the experience economy trace back to 1955, with the opening of Disneyland and being taken away in their magical fantasy land. With the experience economy, people are looking for those kinds of memorable experiences.
Building your customer experience
One key reason why customer experience is so essential is that everyone is competing for time, attention, and money. People’s lives are getting busier, so you need to stand out, and you need to differentiate to win your share of the business. Another reason is the instant access to information on the internet and the fact that customers can get highly informed before they make a purchase.
Many goods can be bought in multiple places, so companies need to think about what is going to make their store or their website stand out to be different and compelling.
Akeneo conducted two different surveys this year, one that surveyed B2C buyers and another for B2B manufacturers, and in both cases, brand values stood out as becoming increasingly important for shoppers. Buyers also said they would be willing to pay more for a great customer and product experience. We also believe that great customer experience requires a great product experience too.
Crafting a superior product experience online
If you want to move your online product experience forwards to create a superior product experience, read our latest interview with Akeneo’s John Evans, Product Experience Expert.
Download ‘The Experience Economy’ interview to see how you can drive online sales with a differentiated product experience here.
Plus Extra Insights
Access further insights and case study examples in our on-demand webinar available here. Hear John explain how your company can leverage the experience economy and come out on top!