the experience economy - how customer experience has shaped the world?
TRANSCRIPT
The Experience Economy
What is happening?
The way we make buying decisions has changed – we expect more
Products1970s
Products + Services 1990s
Relationships2000s
Experience centricToday
A shift from products to experiences
The way we make purchase decisions has changed.
This changes everything
Unit Sales
Branding
Products
Unit margins
Hit products
Value pricing
Experience
Solving Needs
Customer Lifetime Value
Deep relationships
The pace of the world has changed
• On average we want everything faster, not today• The rise of subscription and internet based
products
• Phenomenan coming from b2c to b2b
• No control over consumers or buyers
Globally we live on the hi-tide of instant gratification
We live in an Experience Economy.
Last 15 years – 52% of Fortune 500companies have disappeared
1955
Life expectancy 75 years
2015
Life expectancy 15 years
How is this possible?
90% 71%Will tell about bad
experiencesBuy from you because
they like you
After the certain point – price does not matteranymore!
But what is Customer Experience?
The whole customer journey
How to improve Customer Experience?
Change expectations VS. Higherperformance
What people say?
80%71%Agree that CX is the most
important factor influencinbuying decision
Buy from you because they like you
78%Tell that they would pay more
for a unique product or servicewith unique experience
87%Previous experience is the
most importan factor on futurepurchase
But what we do?
26%71%Past experience with a brand
has been unique
Buy from you because they like you
38%Of companies have elevated the
CX as company level strategyand have goals
Why is it so hard?
àWe don´t know how toturn CXintoinstant sales!
How to instantly turn CX into sales?From the beginning of the CX journey – drive more sales at every touch point
Customer Experience in the 21st century?
Thank you!
Jaakko MännistöFounder & CEO
[email protected]+358 44 3488016@jaakkomannisto
Jaakkomannisto.com/palaute