the experience economy is alive & kicking in small business
DESCRIPTION
In 1998, Joseph Pine wrote a book called “The Experience Economy” with a tag line “Work is Theatre And Every Business a Stage” and it is my belief that more than ever before we must work harder to create experiences that our members TRUELY value when they walk through the door or when they interact with our business in the community or even on-line!TRANSCRIPT
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The Experience Economy is Alive & Kicking Are you?
Filex 2009
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“Commoditised. No company wants that word applied to its goods or services. Merely mentioning commoditisation sends shivers down the spines of executives and entrepreneurs alike. Differentiation disappears, margins fall through the floor, and customers buy solely on the basis of price, price, price.”
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The Service Economy
The Experience Economy
The Goods-Based Economy
The Agrarian Economy
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Goods = Tangible
Services = Intangible
Experiences = Memorable
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• “What would we do differently if you were to charge admission to enter your business?”• “In a gym, what would the group exercise instructors do differently if at the end of their class, a
collection bowl was passed around for members to donate to their wage?”• “Or as a personal trainer, what we do differently if they were paid a minimum wage but could
keep 100% of tips from their clients?”
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Customer Participation
Passive Active
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Customer Connection
Absorption
Immersion
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Absorption
Immersion
Passive Active
Entertainment Educational
Aesthetic Escapist
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Absorption
Immersion
Passive Active
Entertainment Educational
Aesthetic Escapist
The Sweet Spot
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4 Step Plan1. Theme your experiences2. Harmonise the impressions with positive cues3. Mix in memorabilia4. Engage all 5 senses
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Where Now?
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Justin TamsettB.Ed (Phys & Health Education)
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[email protected] for more information on Active Management
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"What you leave behind is not what is engraved in stone monuments, but what is woven into the lives
of others." Pericles