A few years ago I gave a boardroom talk in Milan, Italy, to a number of executives from different companies. One was the vice-president of a global coffee manufacturer, who said something that floored me: “There’s been no innovation in the coffee industry in fifteen years.” I responded: “Have you never heard of Starbucks?” This gentleman could only conceive of innovation in physical goods, not in experiences – a particularly ironic stance given we were in one of the foremost coffee meccas of the world, the city that inspired Howard Schultz to create the Starbucks coffee-drinking experience.
The Experience Economy
That is what we desperately need in business today: experience innovation. Why? Because we are now in an Experience Economy, where experiences – memorable events that engage people in inherently personal ways – are becoming the predominant economic offering. It supplanted the Service Economy that flowered in the latter half of the twentieth century, which in turn superseded the Industrial Economy, which itself displaced the Agrarian Economy. Experiences are what people want, and therefore what companies must offer.
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By Joe Pine
At Creative Sage™, we specialize in experiential, custom-designed innovation processes and solutions for each of our clients — you won’t get a “cookie-cutter,” “one-size-fits-all” solution from us! Our solutions help you move forward in the Experience Economy so that you can offer your customers or clients valuable, inspiring experiences along with your services and products.
Please give us a call if you want to explore how our solutions match your organization’s or work team’s needs and produce desired results. We also help facilitate the management of transitions and other workplace challenges. You can reach us in the San Francisco/Silicon Valley area, at 1-510-845-5510; or email us to arrange for an initial phone conversation. You can also visit our web site and blogs for more information. We look forward to hearing from you!