The document discusses the rise of the "experience economy" and the value that experiences provide to both consumers and brands. It notes that consumers are willing to pay more for experiences and that experiences help create stories that people share about brands. The document also provides recommendations for how to design valuable experiences, including placing people at the heart, understanding cultural contexts, making experiences personal, and ensuring coherence across the customer journey.

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March 2019 - ‘GetYour Guide’ raises $500M
An example to the commercial potential in selling experiences
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3. Good design drives
financial performance
In their report ‘The business value of
design’ (2018), Mckinsey & Co have
attached a monetary value to design.
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4. The quality of Design
is in the eye of the beholder
The quality of design is measured first and
foremost by the experience it creates.
It is the user experience that drives
willingness to pay, brand loyalty and
advocacy.
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5. Consumers are willing to pay
more for experiences
Seeking good experiences cuts across
industries.
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The ‘Experience Economy’
As business designers, we ask ourselves
the following questions:
- Why do experiences command a
premium?
- What does this mean to our clients?
And
- How can we design such value creating
experiences?
Source: B Josep Pine és James Gilmore:
The Experience Economy Figure 1-5. P. 22.
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Why? What? How?
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8. The experience economy is driven by both sides:
consumers and brands
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Economic hardship
Millennials, who now have more spending
power than any other age group, are the
first generation poorer than its' parents.
They seeks higher justification to their
purchases. This justification comes in the
form of experiences.
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Time poverty
Experiences help grabbing attention - both by brands and by consumers themselves
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Rise of the ‘Ego-conomy’
Experiences help put the ‘me’ in the limelight
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12. Commoditisation of goods
Technological development and globalisation reduced the ability to control production
means and distribution channels as strategic levers
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Commoditisation of services
The internet has contributed to the
commoditisation of service based industries
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“Good” is continuously being
re-defined
Providing experiences is not a bullet proof solution
as new entrants continuously set up new bars for
excellence.
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Why? What? How?
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Experiences generate stories
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Experiences are the stories we tell ourselves
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Experiences are the stories we tell others
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In a hyper connected world,
people are the ones telling the stories of brands
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Experience is the new brand
If stories are based on experiences, the value of brands is defined by the experience they create
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Experience as a strategy
Creating a positive experience should be an inherent part of every brand’s strategy
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Experience as a strategy
Apple’s retail shops are considered one of the drivers for the brand’s luxury status
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Stop thinking B2B and B2C - think B2P
People seek good experience regardless of what hat (or attire) they are wearing
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Customer experience can make
or break brands
Brands need to seek to create positive,
memorable and attention grabbing
experiences for their customers.
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Employee experience should
not be neglected
Employees are the ones who make brands
thrive. As the fight for talent is growing, so
is the importance of providing employees
with good experiences.
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Why? What? How?
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Place people at the heart
The heart of strategy, products and operations
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Understand the context
Understand the users tasks (JTBD), their
state of mind and the stage they are in the
customer journey.
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Pay attention
to cultural differences
Users in different cultures behave
differently. They expect different things
from brands. Tailor your approach to
different audiences.
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Make it personal
Experiences are predominantly personal.
Embrace digital as a lever to personalise
experiences at scale.
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Data is key for personlaistion

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Ensure the experience is
coherent across the journey
Customer experience is the sum of all
experiences across the journey. Ensure
these experiences are coherent.
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Improve over time
Digital products, unlike physical ones, can
and should improve over time - becoming
more personalised, adding more value and
increasing the user’s switching costs with
each interaction.
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Make your brand experience worth talking about
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