Experience Business Is the End in Mind

September 21, 2017 Jack Vawdrey

Lady on a mountain with a phone

This post highlights a recent presentation by Adam Justis, Adobe’s Director of Product Marketing, at Validate 2017, a data governance boot camp hosted by ObservePoint.

Experiences differentiate businesses. The traditional marketing mix won’t be enough to whet the appetite of customers who are ready to give their time to the highest bidder, with experiences as the currency of exchange.

B2B journalist Emily Kent recently said:

“Previously, marketers could measure their performance against category rivals…[W]hen it comes to customer experience, they must increasingly measure up against all experiences.”

In an experience economy,  every  company is a competitor because everyone is vying for a small piece of a limited resource: consumer attention. And while this resource may be renewable, it’s still scarce, and the best experience will win out.

Adam Justis, Director of Product Strategy at Adobe, recently presented at Validate 2017, speaking about how companies engaging in digital transformation should keep the experience as their ultimate goal. This means evolving from offering an experience to  being  an experience.

Here are some of the tips Justis touched on during his presentation:

Preserving the status quo is not a strategy

Experiences require digital transformation, and transformation implies change.

To achieve transformation, companies often focus in their microscopes on the best technology to create an experience. They assume that the “digital” in “digital transformation” means technology will magically transform the business. It doesn’t.

Companies that try to integrate technology while maintaining the same organizational structures, roles and siloed departments will fail. Digital transformation means rebuilding the company to meet the digital needs of customers through positive experiences.

Experiences start with great content

What do consumers do best? Consume. So, naturally, experiences require content. And not just any content—consumers want relevant, personalized content.

Delivering valuable content to consumers requires creativity mixed with insight. When you know your customers well, beyond just basic demographics, you will be able to better meet their needs.

Experiences are powered by data

Experience business means data, and lots of it. But not just data alone—insights don’t just jump out at you once you’ve reached a certain threshold of what is ambiguously known as “Big Data.”

Companies need to be ready to respond dynamically to their data. This is the heart of digital transformation: Using data to understand customers (analytics) and respond dynamically/personalize the experience (marketing automation).

Building an Experience Business

Whatever your objective in digital transformation, it’s likely the necessary technology already exists. The key is preparing your organization internally to build an experience.

Go ahead. Your customers are waiting.

Validate 2017 is a hands-on, technical boot camp where data governance teams and analytics professionals hone their digital analytics skills and learn to drive more results with their marketing technologies.  Learn more about next year’s event.

 

 

 

About the Author

Jack Vawdrey

A former student and present enthusiast of the humanities, Jack Vawdrey uses his love of language to explore the role of marketing and analytics technology in business. Jack joined the ObservePoint marketing team in August 2016 and serves as Managing Editor. Adamant about automation, Jack writes to educate the analytics and marketing community about the role of tag auditing and data governance in the enterprise.

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