In this episode, Aransas and Dave are joined by the experience strategy pioneers, Lou Carbone, Joe Pine, and Bernd Schmitt to take us back to the birth of Experience Strategy, Design and Marketing. In this episode we dig into the cultural and business forces that drove the experience revolution, explore how experience strategy has transformed business development, product design, and marketing, and discover what these pioneers predict is on the horizon.
In This Episode:
- [03:12] Lou Carbone talks about his career background in advertising [08:55] Aransas speaks with Bernd about creating and selling consumers an experience, not just a product, while adding value to their lives
- [11:00] Experiential marketing to influence how people think, feel, act and relate to product features
- [17:27] Joe sharet how we enable differentiated experiences and how they adapt and change over time
- [25:00] Lou digs deeper into the the influence ofconsumer’s environments [32:39] Joe speaks about the progression of economic value
- [34:10] Bernd explains more about the project/customer experience management framework. Focusing on how customers see things rationally, emotionally, and experientially and creating value-based experiential platforms
- [44:00] How experiences have changed from the early 2000’s digital revolution and how technology has been integrated into our daily lives.
- Many companies are bogged down by Industrial Age ideas that prioritize process over experience
- Goods and services are not enough anymore in this day in age- companies must emphasize the experience for their customers in order to create lasting relationships with consumers. Focusing on how customers feel and relate and how the business can help them with any pain points in their lives and solve any problems is key to creating a connection.
- Fusionomics is the exploration of how consumer experience will continue to change with developing technology and how this integrates into our lives. How companies and businesses adapt and change to keep up with technology will be the key to creating a positive experience for consumers.
- The future will belong to companies that create platforms integrating services, products, and meaningful experiences
Lou Carbone is founder and CEO of Experience Engineering®, Inc.. Since the late 1980’s, Carbone has continuously been at the forefront of studying, exploring and developing value creation through experience management and is often referred to as the Godfather of Experience Management. He is recognized as a thought leader in the field as well as an experience management futurist, continuously innovative, hands-on academic/practitioner. He wrote the book “Clued In: How to keep customers coming back, again and again, published by FT Prentice Hall which won Fast Company’s Reader’s Choice Award. Lou originated the concept of Emotional and Unconscious Clue Based Experience Design and Total Experience Management® and a robust proprietary methodology and perspective called Experience Engineering®.
B. Joseph Pine II is an internationally acclaimed author, speaker, and management advisor to Fortune 500 companies and entrepreneurial start-ups alike. He is cofounder of Strategic Horizons LLP, a thinking studio dedicated to helping businesses conceive and design new ways of adding value to their economic offerings. In 2020 Mr. Pine and his partner James H. Gilmore re-released in hardcover The Experience Economy: Competing for Customer Time, Attention, and Money with many new ideas, frameworks, and exemplars plus a new Preview to their best-selling 1999 book The Experience Economy: Work Is Theatre; Every Business a Stage. The book demonstrates how goods and services are no longer enough; what companies must offer today are experiences – memorable events that engage each customer in an inherently personal way. It further shows that in today’s Experience Economy companies now compete against the world for the time, attention, and money of individual customers.
Bernd Schmitt is Robert D. Calkins Professor of International Business and Faculty Director of the Center on Global Brand Leadership at Columbia Business School in New York. He is widely recognized for his major contributions to branding, marketing, and new technologies through his unique focus on the customer experience and innovation. He has published in the major marketing journals and written nine books which have been translated into 25 languages, including, among others, Experiential Marketing, Customer Experience Management, Big Think Strategy and Happy Customers Everywhere. Schmitt has consulted and developed brand, experience and innovation strategies for clients in consumer packaged goods, automobile, electronics, software, financial services, pharmaceuticals, beauty and cosmetics, hospitality, and media industries.