The Experience Gap
I’ve a confession. I’ll pay a bit more for something if there’s a better experience attached.
When shopping for anything I believe in savoring the moment. Sometimes, this drives my wife nuts. However, what I experience can make or break the process.
When it comes to money, I have had plenty and, at times, went without. It doesn’t matter whether I’ve got a little or a lot – the buying experience matters.
I used to feel guilty about this but to be honest, I’ll pay a premium for a decent experience.
Take for example my plight to purchase a new automobile. I’ve been driving the same truck for over ten years and my repair bills are shouting at me to find a new ride. This is something I’m excited to do...and yet, struggle finding an experience that meets the quality of vehicle I want to purchase.
It got me to thinking about how few organizations understand that we are living in an experience economy.
Although there is a lot of hype around customer experience – Most fail in very specific ways. According to Forrester 84% of firms aspire to be an experience leader, but only 1 out of 5 delivers good or great customer experience.
What drives me crazy is when a brand says it’s something special - and yet, when we experience that brand it doesn’t match the advertising...This is an epic fail!
Kelley Blue Book reported the estimated average transaction price (ATP) for light vehicles in the United States was $35,285 in March 2018.
It doesn’t matter whether I”m purchasing a Ford or a Lincoln - a Toyota or a Lexus - At these prices you best offer a great buying experience. (Or I'm out.)
It seems to me that there are only a few brands that have embraced the entire purchasing experience. When this does happen it turns brands into movements...I want to be part of a movement. Don’t you?
The day is upon us whether you’re a coach, teacher, executive or car consultant the experience you deliver is just as important as the quality of stuff you are delivering.
In the end...experience always wins.