137: The Experience Economy

What this episode covers

The market has undergone some major shifts over the past couple of years and businesses can no longer differentiate themselves by service. There is a distinct difference between a service and an experience. A service is done to you and an experience is done with you. An experience worries about how the customer feels. For example, when I travel and stay at a hotel, for the most part, it caters for my needs. But I never leave thinking, do you know what… I want more of that. However, when I saw the sunrise at the top of Mt Fuji, that was an experience I shall never forget. By thinking along these lines, you can create something special.