48 min
Experience Strategy Predictions and Precautions for 2022 Experience Strategy Podcast with Stone Mantel
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- Management
The pandemic has influenced every aspect of how we deliver customer experiences. We are joined today by experience strategy pioneers Colin Shaw and Joseph D. Pine to make predictions about what the new normal will look like… and recommendations about what it should look like. Will 2022 be the year today’s companies step forward into the future or will they stay stuck in the past?
In This Episode:
[03:39] Joe and Colin share why people are listening to experts that cultivate digital services and experiences. [08:52] How Colin and Joe define “experiences.” [13:37] Colin and Joe discuss “experience strategy.” [17:21] What companies are missing the key element of experience strategy? [19:33] How the American Customer Satisfaction Index can shed light on how many companies actively pursue or actively ignore progress in customer satisfaction. [29:35] Are companies approaching industry change with the wrong mindset? [34:27] Where will customers go from here? [37:15] Colin describes the elements of what he labels “Customer Science.” [42:59] Joe and Colin share their New Year's Resolutions for their work in 2022.
Key Takeaways:
The pandemic has been a catalyst for companies to review their business models. The time for companies to define their new mindset is now. Between the years 2010 and 2019, only 30% of organizations improved their customer satisfaction. That means that 70% of organizations’ customer satisfaction either declined or remained flat. Customer experience is still in its infancy. Perhaps the pandemic will be what nudges it into maturity. The future of customer satisfaction will depend on both companies and customers. We all have a choice to go back to the way things were before, with mediocre experiences, or to move forward and build new standards and expectations.
Bio: Colin Shaw & Joseph D. Pine
Colin is an original pioneer of 'Customer Experience.' LinkedIn has recognized him as one of the 'World's Top 150 Business Influencers', where he has 290,000 followers. As the Founder & CEO of Beyond Philosophy LLC, his Customer experience consulting company has been recognized by the Financial Times as 'one of the leading management consultancies for the last three years in a row. Colin is the co-host of the highly successful Intuitive Customer podcast, which is rated in the top 5% of all podcasts by BuzzSprout.
Joseph Pine II is an internationally acclaimed author, speaker, and management advisor to Fortune 500 companies and entrepreneurial start-ups. He is cofounder of Strategic Horizons LLP, a thinking studio dedicated to helping businesses conceive and design new ways of adding value to their economic offerings. In 2020 Mr. Pine and his partner James H. Gilmore re-released their groundbreaking book The Experience Economy: Competing for Customer Time, Attention, and Money with many new ideas, frameworks, and exemplars plus a new Preview to their best-selling 1999 book The Experience Economy: Work Is Theater; Every Business a Stage. The book demonstrates how goods and services are no longer enough; what companies must offer today are experiences – memorable events that engage each customer in an inherently personal way. It further shows that in today’s Experience Economy companies now compete against the world for the time, attention, and money of individual customers.
The pandemic has influenced every aspect of how we deliver customer experiences. We are joined today by experience strategy pioneers Colin Shaw and Joseph D. Pine to make predictions about what the new normal will look like… and recommendations about what it should look like. Will 2022 be the year today’s companies step forward into the future or will they stay stuck in the past?
In This Episode:
[03:39] Joe and Colin share why people are listening to experts that cultivate digital services and experiences. [08:52] How Colin and Joe define “experiences.” [13:37] Colin and Joe discuss “experience strategy.” [17:21] What companies are missing the key element of experience strategy? [19:33] How the American Customer Satisfaction Index can shed light on how many companies actively pursue or actively ignore progress in customer satisfaction. [29:35] Are companies approaching industry change with the wrong mindset? [34:27] Where will customers go from here? [37:15] Colin describes the elements of what he labels “Customer Science.” [42:59] Joe and Colin share their New Year's Resolutions for their work in 2022.
Key Takeaways:
The pandemic has been a catalyst for companies to review their business models. The time for companies to define their new mindset is now. Between the years 2010 and 2019, only 30% of organizations improved their customer satisfaction. That means that 70% of organizations’ customer satisfaction either declined or remained flat. Customer experience is still in its infancy. Perhaps the pandemic will be what nudges it into maturity. The future of customer satisfaction will depend on both companies and customers. We all have a choice to go back to the way things were before, with mediocre experiences, or to move forward and build new standards and expectations.
Bio: Colin Shaw & Joseph D. Pine
Colin is an original pioneer of 'Customer Experience.' LinkedIn has recognized him as one of the 'World's Top 150 Business Influencers', where he has 290,000 followers. As the Founder & CEO of Beyond Philosophy LLC, his Customer experience consulting company has been recognized by the Financial Times as 'one of the leading management consultancies for the last three years in a row. Colin is the co-host of the highly successful Intuitive Customer podcast, which is rated in the top 5% of all podcasts by BuzzSprout.
Joseph Pine II is an internationally acclaimed author, speaker, and management advisor to Fortune 500 companies and entrepreneurial start-ups. He is cofounder of Strategic Horizons LLP, a thinking studio dedicated to helping businesses conceive and design new ways of adding value to their economic offerings. In 2020 Mr. Pine and his partner James H. Gilmore re-released their groundbreaking book The Experience Economy: Competing for Customer Time, Attention, and Money with many new ideas, frameworks, and exemplars plus a new Preview to their best-selling 1999 book The Experience Economy: Work Is Theater; Every Business a Stage. The book demonstrates how goods and services are no longer enough; what companies must offer today are experiences – memorable events that engage each customer in an inherently personal way. It further shows that in today’s Experience Economy companies now compete against the world for the time, attention, and money of individual customers.
48 min