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Escalating the experience economy

D’Arcy King PhD
Global Head of Experience Health
Hall & Partners Health

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D’Arcy helps brands to uncover multi-stakeholder insights and reveal untapped opportunities to create frictionless customer and brand experience strategies.

Hall & Partners’ Global Head of Customer Experience identifies a singular opportunity for healthcare marketers

The origin of experience economy dates back to the publication of the seminal article ‘Welcome to the Experience Economy ‘which first appeared in the Harvard Business Review in 1998. Authors James Gillmore and B. Joseph Pine II gave voice to the notion that society was moving toward the fourth stage of economic evolution: that we had progressed from an agrarian through an industrial to a service economy, and were now on the precipice of the experience economy. Consumers no longer perceived value strictly on products or service attributes. Rather, they were searching for personalised, memorable, immersive experiences that delivered “surprise and delight” during every brand encounter.

In the ensuing decades, industries from entertainment to retail, hospitality to finance, have embraced this economic transformation, and in so doing set in place a seismic shift in customer expectations and empowerment. They now have the power to choose when, where and how they want to interact with brands.

Mapping the individual ‘lived experience’ of the customer has become a foundational pillar of differentiated success. It is now incumbent upon the marketer to anticipate each customer’s individual needs and proactively provide tangible and memorable benefits to deliver a seamless yet remarkable customer experience.


“The ideal customer experience is no experience”
Don Peppers, author of Customer Experience: What, How and Why Now


The most successful customer experience is one in which the only memorable outcome is the resolution of the problem, an improvement in quality of life, or the successful completion of a task that influenced the individual to procure, consume, and engage with your service or product. This initiation process starts with an emotional connection to your brand.

Brand and customer experience have a symbiotic relationship

The true value of customer experience can be achieved by accelerating the adoption and implementation of a transformative customer-centric discovery and mapping approach; executing operational efficiencies; enhancing customer engagement; and shaping a culture that revolves around the individual.

 

Embracing the experience economy in healthcare

Despite this pivotal transformation across other industries, healthcare lags behind in truly adopting a person-centred perspective to advance outcomes and drive value in today’s experience economy.

The convergence of consumerism, behavioural economics, digitisation and interconnectivity has created a singular opportunity for healthcare marketers to develop authentic, contextually-relevant personal experiences to seamlessly connect with each target customer’s individual needs.

Pharmaceutical manufacturers have begun to adapt to the market forces of our connected, multi-channel, customer-centric, collaborative healthcare landscape to improve access, efficiency, and outcomes. By putting the person – providers, patients, caregivers, payers, advocates, key opinion leaders and others – at the apex of customer experience design, new opportunities will emerge to influence, activate, motivate, inform, increase loyalty, and drive growth.


The path to the ideal customer experience begins with a deeper and more human-centric understanding of customers as people


Healthcare systems have encountered a tsunami of powerful forces ranging from regulatory reform to value-based reimbursement; genetic mapping to personalised medicine; preference-based patient profiles to predictive modelling – each pushing innovation and resources to capacity. Within this constantly changing environment, achieving positive health outcomes and optimal service delivery requires a true understanding at the individual level of how to engage and impact behaviour to produce lasting results.

The time is now to escalate the experience economy in healthcare. In a world moving at the speed of change, acceptance and engagement comes from delivering memorable experiences that provide meaning, relevance and value in people’s lives. The path to the ideal customer experience begins with a deeper and more human-centric understanding of customers as people. Hall & Partners’ proven and propriety process helps brands uncover this person-centred perspective to drive value in today’s experience economy.

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