Experience Economy

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Experience Economy

• Adding Value
• Through Experiences

Linda Carbary 4/18/02
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No Hassles Here
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Experiences Add Value

• B. Joseph Pine II
• James H. Gilmore
• The Experience Economy Work is
  Theatre Every Business a Stage

Boston Harvard Business School Press 1999
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Experiences Add Value

• Its no longer enough for companies to
• simply provide goods and services to
• consumers.
• Companies must experientialize
• their goods.
• Surround products with experiences that
• make using them more memorable.

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Experiences Add Value

• Not to mention more expensive!
• That 50-cent cup of coffee at the
• local diner becomes a four-dollar cafe
• latte when served at a Starbucks.

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The Idea

• Create a consumer experience that brings the
  company image or particular brand (or both) to
  life
• on their terms.

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Objectives

• Primary
• Reach the consumer by delivering the Brands
  Promise (ex Independence) through memorable
  Experiential Brand Interaction.
• Secondary
• Encourage dialogue

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Strategy

• In every instance bring branded content to the
  right context.
• Content idea display entertainment
• Context right audience right activity

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Consumer Take-Away

• Brand Memory

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Metrics

• How does a company measure brand recall or
  memory?
• Context Measure the quality of audience
• and event.
• Content Measure Fit - Opinion -
• Purchase Consideration

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Event Metrics

• Quality of the Audience
• Evaluate target audience prior to event
• Compare across various events
• Project cost effectiveness of event
• Evaluate actual audience following event
• Evaluate promotion of event. Ability to draw
• the right customers

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Event Metrics

• Quality of the Event
• Provide norms for comparing events
• Provide information for improving events
• Address event specific issues (ex rain)

The specific event sample depends upon the
nature and scope of the event.
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Summary

• Remember your objective
• Reach the consumer by delivering the
• Brands Promise (ex Independence) through
• memorable Experiential Brand Interaction.
• Measure results
• Was the event the appropriate setting?
• Was the audience the target you wanted to
  reach? Did the audience retain the brand
  image/promise?
• If possible, monitor if consumer went on to
• purchase.