https://www.forbes.com/sites/forbesbusinesscouncil/2019/11/21/consumers-are-hungry-for-an-experience-based-connection-with-your-brand/

According to one study, 83% of consumers admit paying as much attention to how brands treat them as on the product they sell. The same study states that 73% say they are willing to pay more for a product if they love the brand. These statistics call attention to the fact that customer experience is critical.

re-imagine every touchpoint a consumer has with their brand, delivering an experience-based, emotional connection. These organizations are looking past traditional ways to attract and retain customers and designing compelling, personalized experiences – via advanced technologies – around products and services to better engage.

The term “Experience Economy” was coined a few decades ago by James H. Gilmore and B. Joseph Pine II. The two, who co-authored a book of the same name, describe that consumers seek experiences above and beyond products and services. In the book, they explain that services must be mass-customized for each individual need and that offerings must be charged for time (i.e., subscriptions). They also urge more organizations to pay attention not just to what workers should do, but how they do it.

The customer experience is not merely about your mobile app, your website or your call center agents – it runs deep inside the four walls of your company. All of the internal processes, people and systems that contribute to your brand’s overall customer experience – those operations that take place behind the scenes – are just as much a part of that customer experience.

First and foremost, brand interactions must be easy for consumers. They must co-exist in the natural rhythm of consumers’ daily lives.

From a consumer’s perspective, what matters most is that their brand interaction simply works and provides value

Part of this strategy involves leveraging technology and data to decode the nuances of consumer behaviors and sensibilities that drive their unique brand interactions and decision-making processes

Don’t generalize your customers and prospects.

These lenses are too narrowly focused and don’t expose the more valuable behavioral criteria that inspire long-term, emotional connections. Intead, utilize technology to develop a more robust, data-driven picture of your audience.

consumers ourselves, perhaps many of us are used to accessing anything we want, at any given time, through all of our connected networks. Similarly, customers expect their brand experiences to be on the ready, whether it’s via a smartphone, tablet or any other device

no longer to dictate an exchange but to facilitate one.

Develop a strategy that accounts for business needs, market demands and technology

the Experience Economy must be backed by your data

Utilize your back-office to generate the right amount of data about individual consumers.