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This Podcast seeks to answer one simple question.
How do you build a business that people feel compelled to talk about?
B. Joseph Pine II
What would change in your business if you charged for admission?
This week, Jay interviews B. Joseph Pine II, the co-author of the Experience Economy and director at Strategic Horizons. In this episode, Joseph argues why products and services are not enough in building a business that can organically grow through word of mouth.
We discuss how companies can truly thrive if they focus on the transformation that their customers are seeking. He then shows us that when we do find the “sweet spot” of transformational experience, we gain a loyalty and virality that can not only be banked on but be charged for.
This was such a powerful discussion. I hope you enjoy!
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Summary
Joseph Pine has been described as the Godfather of the Customer Experience field. He is the co-author of The Experience Economy, an internationally acclaimed author, TED speaker, and management advisor.
Joseph has been committed to highlighting to businesses that their product or service is not enough to grow and that truly successful businesses focus on the customised, remarkable experiences to not only withstand the speed at which competition and innovation effects business but grow in spite of it.
Takeaway points:
- Business should not consider money as an end. It is the measure of how well you fulfil your end.
- Aspiration of the company should align with the aspiration of the customer.
- Authenticity or the New Customer Sensibility is important as how you treat your customers.
- Listen to your customers = marketing transformation.
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Four levels of Hybrid Experiences
- Offer virtual experiences to your customers
- Twitchification - customers can access to information better than live experiences
- Sell access to events
- Take highlights of the online events on your social media to entice the customers
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You don’t need an advertising budget if you are remarkable, people will talk about it. They will tell people about it and want to
become part of it because the fundamentals is Marketing.
Quotes:
19:35 It’s not about what difference you want to make in the world, but who you want to be.
33.09 Put value in your customer’s experience
54:25 Make the business remarkable to have customers talk about it.
Get connected with Joseph Pine at
www.strategichorizons.com
Twitter: @joepine
LinkedIn: /joepine
Recommended Books:
- The Experience Economy by Joseph Pines II