Organizations that are on the cutting edge of service delivery in today’s market understand that we are in an “experience economy”. Customers’ expectations are higher than they have ever been.
Back in the early days of commerce, businesses dealt with buying and selling raw materials (like eggs, flour and milk). Then as industries matured, raw materials were combined to present goods to consumers (like eggs, milk and flour being combined to form a cake mix). Consumers starting getting busier and busier, so round about the 1960’s, they were demanding services as the norm instead of good (like an already baked and decorated cake from a bakery).
But we are no longer in a “raw materials economy”, a “goods economy” or a “service economy”. In order to be on the cutting edge, organizations have to understand that we are in an “experience economy”. Consumers want more “bang” for their buck. Instead of getting just a baked, decorated cake, we want to go to a place like “Chucky Cheese” where the entire birthday party is taken care of --- from the cake, to the entertainment, the meal, even the beer for Uncle Joe and best of all---the cleanup is done so Mom does not have to do it!
What is your organization doing to ensure that your customers are getting the best EXPERIENCE possible??
