In an article by James H. Gilmore and B. Joseph Pine II titled “Wanted: Chief eXperience Officers”, [Event ROI - Spring 2006] the authors take the opportunity to define Experience Lines of Business as ”the introduction of distinct experiences as explicit offerings sold to paying customers… provide opportunities to increase the value generated for customers. When performed well, each experience-based discipline has an incredibly powerful impact on attracting and retaining customers. Complementing traditional marketing and communications with experiences help distinguish an enterprise in the marketplace.”
Companies that capitalize on the opportunity to deliver “experience offerings” that customers value enough to pay for will share distinct competitive advantages over those who don’t. ”Experential or experience offerings” also provide companies the opportunity to capitalize on new revenue streams [and increased market share] by widening consumer demand in new niche markets. For example, a general sightseeing company might diversify its product offerings to include architecture, natural history, and culinary tours to name a few.
If you’re interested in reading the article, please click on this link: Wanted: Chief eXperience Officers
