Experience Economy

Experience Economy

Experience Economy Jonathan Poland

The concept of the experience economy suggests that companies can differentiate themselves and gain a competitive advantage by creating memorable and valuable experiences for their customers. In a market where many products and services are interchangeable and widely available, the experience a company offers can be a key factor in attracting and retaining customers. This can involve creating immersive and engaging experiences that go beyond simply providing a product or service, and instead focus on creating a holistic and satisfying customer journey. By investing in the experience economy, companies can differentiate themselves and stand out in a crowded and competitive market. The following are illustrative examples of the experience economy.

A mobile device that is pleasing and productive to use commands a higher price and enjoys higher sales volumes than the competition that have similar technical specifications but are less usable.

Customer Service
A restaurant with friendly and diligent staff develops a loyal customer base and thrives on slow nights when competitors struggle.

A hotel that has character and superior services may achieve high ratings and occupancy rates despite high prices.

A brand that customers view as a status symbol such as a symbol of wealth or membership in a group. For example, the experience of wearing the same snowboarding brands as your favorite professional snowboarder.

Experiencing culture such as the taste of food or sound of music.

Products and services that provide a sense of well-being such as a relaxing spa.

Peak Experiences
Experiences that customers may view as accomplishments or events that are important to their life. For example, a wedding or travel experience.

Transformative Experiences
Experiences that transform an individual to make them better such as education or an inspiring book.

Learn More
Sales Metrics Jonathan Poland

Sales Metrics

Sales metrics are commonly used to assess the performance of a sales team or individual salesperson. These metrics can be…

Corporate Culture Jonathan Poland

Corporate Culture

Corporate culture refers to the values, beliefs, and behaviors that shape an organization and the way it operates. It is…

Customer Needs Anlaysis Jonathan Poland

Customer Needs Anlaysis

Customer needs analysis is the process of identifying and understanding the needs and wants of customers in order to develop…

Cost Innovation Jonathan Poland

Cost Innovation

Cost innovation is the practice of finding ways to significantly improve value while reducing costs. This can be achieved through…

Examples of Products Jonathan Poland

Examples of Products

A product is something that has value and can be sold on a market. In order for a product to…

What Is Management? Jonathan Poland

What Is Management?

Management is the process of overseeing and coordinating the activities of an organization in order to achieve its goals. This…

Ingredient Branding Jonathan Poland

Ingredient Branding

Ingredient branding, also known as component branding or parts branding, is a marketing strategy that focuses on promoting the individual…

Drip Marketing Jonathan Poland

Drip Marketing

Drip marketing, also known as drip campaigns, is a strategy that involves sending targeted and personalized marketing messages to a…

Reverse Distribution Jonathan Poland

Reverse Distribution

Reserve distribution is the process of distributing a reserve, which is a reserve amount of money or other resources that…

Content Database

Search over 1,000 posts on topics across
business, finance, and capital markets.

Types of Capital Jonathan Poland

Types of Capital

Capital is an asset that is expected to produce future economic value. It is a productive resource that is used…

Brand Values Jonathan Poland

Brand Values

Brand values are the principles and beliefs that a brand stands for and that guide its actions. They reflect the…

Strategy 101 Jonathan Poland

Strategy 101

Business strategy is the set of actions and decisions that a business takes in order to achieve its goals and…

Lobbying vs Government Contracts 150 150 Jonathan Poland

Lobbying vs Government Contracts

A government contract and lobbying the government are two distinct activities within the realm of government and private sector interactions.…

Scientific Control Jonathan Poland

Scientific Control

Scientific control is a fundamental principle of experimental research, which is used to minimize the influence of variables other than…

Algorithms Jonathan Poland


An algorithm is a set of instructions or rules that are followed to solve a problem or accomplish a task.…

Continuous Process Jonathan Poland

Continuous Process

A continuous process is a series of steps that are designed to be executed concurrently, meaning that all the steps…

Cost of Capital Jonathan Poland

Cost of Capital

The cost of capital is the required rate of return that a company must earn on its investments in order…

Operating Agreement Jonathan Poland

Operating Agreement

An LLC operating agreement is a legal document that outlines the rules and procedures for a limited liability company, including…