It is becoming widely recognised that when people buy products or services they are really buying an experience. What people buy has attributes that are associated with functional consequences that have psychological (emotional) consequences that are ultimately tied to underlying personal values [Gutman, Reynolds and Olsen]. In short that’s an experience either anticipated or realised. Experiences may be intrinsic in either a product or a service but, more often, the best experiences will arise from a combination of both. 

So, if you are a provider of either a pure product or service then there is an opportunity to improve the overall experience for your customers by adding the missing half of the equation. In this article I will be focusing on value-add services for products. If there is sufficient interest I might write an extension piece to consider productising services. In either case, the main goal is to take a holistic view of the customer journey and the touch-points along it. These all provide opportunities for learning and potential improvement.

“To understand the man, you must first walk a mile in his moccasin.” – Native American proverb

Want some personalised insights? Click here to get started...

In various blogs and news-feeds recently, both Blackbird Ventures and Sydney Seed Fund have estimated that, of the perhaps 1000+ startups formed this year in Australia, only 10% are attracting external funding and the percentage is much lower for the very early stages entrants. Part of the reason for these figures seems to be attributable to the growth in the number of people giving entrepreneurialism a shot whilst at the same time failing to adopt any kind of robust commercialisation process.

“There’s really nothing remarkable about it. All one has to do is hit the right keys at the right time and the instrument plays itself” – JS Bach

As a musician, this quote makes me smile. I recognise that having a framework is not enough but I do believe that not using one at all is a recipe for disaster.

Want some personalised insights? Click here to get started...
AuthorTrevor Lindars