One of the most useful business experiences I ever had took place when I was just in my late teens and early twenties.
What was my business?
I sold experiences…
Specifically, I was a concert producer. This involved selecting bands, renting halls and most, important of all, filling seats. Very early on, I learned that smart promotion could move mountains. I also learned that people bought experiences.
This has always given me a major leg up on competitors who think that people buy products or features and benefits. They buy those too, but the winners in the marketplace go way beyond that.
It’s kind of a hard concept to convey to people (as many super-profitable strategies are), but nine years ago Jim Gillmore and Joe Pine wrote an article for the Harvard Business Review which put some flesh on the idea for people. The article was called “Welcome to the Experience Economy.”
The article led to a book and the book led to a very busy and lucrative consulting practice.
I was in Chicago last week visiting Gerald Haman’s Accelerated Innovation Center with David Bullock. Joe Pine was there and we posed for this very staged-looking photo.
Joe gave a talk later that evening which I had the opportunity to attend. It was videotaped and you can watch the highlights version by clicking the link below.This is one of those ideas that may take a while to sink in so don’t expect instant fireworks as you’d get from a A to Z “how to” tutorial.But, if you want to put your business on more solid ground and make it more stable, more profitable, and even more fun, start thinking of yourself as an experience merchant.It’s one of a handful of magic ideas I’d hate to be in business without.
Video: Joe Pine on “The Experience Economy
– Ken McCarthy
P.S. For over 25 years I’ve been sharing the simple but powerful things that matter in business with my clients.
If you’d like direction for your business that will work today, tomorrow and twenty years from now, visit us at the System Club.
