Sensory marketing – how to win in the experience economy

03-06 06:01 | source: FoodPro Network International

LEUVEN - How do you emerge in today’s market when customers are so bombarded with brand messages and have such an overwhelming choice of channels, products and services? It’s all down to experience. Or rather, the experience market! Indeed, times have changed, and commodities, goods and services are now making way for experiences. Human experiences that engage and connect with consumers’ fundamental values are what truly make the difference in winning and retaining customers. So, what’s the secret to building experiences that are meaningful and memorable, and how can this help to empower your brands for the future? It all depends on a congruent experience on all senses. Here’s where Haystack can help. We support clients in developing propositions linked to all senses.

The experience economy – what’s all the fuss about?

“The only constant in life is change” (Heraclitus). Indeed, there’s an ongoing and natural economic progression– shifting from commodities and industrial goods in the past, to a more recent focus on service and most lately experience. Indeed, it is believed that differentiation now lies in experiences.

Commodities are fungible, goods are tangible, services are intangible, but experiences are memorable.

Experiences arise when a company intentionally serves or delivers goods, to engage individual customers in such a way as to create a ‘sensation’. Those buying experiences—or “guests” as the experience-economy pioneer Walt Disney likes to call them—value what the company reveals over time. (Which is great news for loyalty!). Unlike previous economic offerings—commodities, goods, and services—experiences are inherently personal, existing only in the mind of an individual who has been engaged on an emotional, physical, intellectual, or even spiritual level. Thus, no two people can have the same experience, because each experience derives from the interaction between the staged event and the individual’s state of mind.

Making sense of experience: how to reveal the truth?

As you might already have guessed, if experience is personal it’s a tougher task to discover the underlying truth. Fortunately, Haystack can lend a hand! Triggered to know more?

Click to read the full article

 

Source: Haystack Consulting





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