With today’s global and hyper-linked economy, businesses and business owners are finding it increasingly difficult to create a business model that has sustainable profitability. The simple fact is, it is simply too easy for competitors to match your point of differentiation if you rely on the standards of product innovation or increased service offerings. It is too easy to quickly and cheaply knock off a product or a service. And if you find that you have discovered a profitable niche, it won’t be long before a competitor will arrive to make it less profitable.
Part of the cause of this is of course the internet. Information about what is going on in the marketplace is moving so quickly that in many cases there is zero lag time from the launch of an innovative product to the arrival of a competitor matching its features and benefits. Should we just throw up our hands and give up?
Absolutely not.
Right now innovation is the big buzzword in the consulting circles. But the next big thing will be crafting remarkable experiences for your customers. In other words, the point of differentiation that will make one company remarkable over another company will be based on the experience the customer has with the brand, product and/or service.
This goes way beyond what is happening now. Designing amazing experiences for their customers will be a holistic approach to creating value. It will be woven into the fabric of the organization and choreographed to elicit the exact experience and subsequent emotion that is desired. The end result will be a remarkable experience that a customer will be happy to pay for.
Apple is a great example of a company that is leading the way in crafting remarkable experiences. They use extraordinary design and a passion for creating a great user experience to develop remarkable products and services. From the design of the product, to the packaging it arrives in, to the experience of using the product itself, the entire experience is well thought out. The end result is a loyal fan base willing to stand for hours in the rain to get access to the next experience the company offers.
Compare this to something like the purchase of a car. Even though the car could be a miracle of modern engineering, the experience of actually purchasing the automobile is mired in old school thinking. Even the luxury brands like Lexus and Mercedes fall shorts here.
So how do you go about creating a remarkable experience for your clients? One way to do this is to craft an amazing story that has the client in the role as the hero in journey. Using the key elements of the ancient stories of myth, you craft an epic journey of the hero from beginning through the middle to the end. By carefully considering each stage of the story you can begin to see opportunities to improve the users experience with your brand, product or service.
It does not have to be complex. Nor does it have to be elaborate and expensive to execute. But it does need to be complete. It does need to be congruent. And it does need to elicit a positive emotional response.
Think about the experience your clients have when they work with your brand. Is it remarkable? What can you do today to craft a story and experience for your clients that will separate you from your competition?
