Welcome to the Experience Economy
Welcome to the Experience Economy, where businesses must form unique connections in order to secure customer affections—and ensure economic vitality. In this thought-provoking speech, Jim Gilmore takes this enduring idea and enriches its application to the demands of today's increasingly time-starved world. With both new models, refreshed examples, and an insightfully different perspective for our digital age, this presentation offers a practical approach for helping companies engage customers in personal and memorable ways.
Get Real: Authenticity is the New Quality
In a world filled with ever more mediated and staged experiences ― an increasingly unreal world ― consumers are now making decisions based on how real they perceive various offerings to be. As a result, enterprises must become adept at rendering authenticity. Finding ways to tap into this emerging sensibility will become essential for success in the years and decades to come. To be blunt: you must get real and not just claim you’re real.
Everything You Need to Innovate Can Be Learned From Reality TV
In this session, Gilmore will walk through ten start-up businesses that have approached him in recent years in search of advice and/or capital. Gilmore has secured permission from each new venture to share their basic business concept. The audience will then vote on which they think is most viable. In a shockingly unexpected finale to the talk, Gilmore will share his perspective on the role Reality TV played in conceptualizing each new enterprise!
Design What? How Goods, Services, and Experiences Differ in Value
James will share his perspective on the design appeal of the (experience) enterprises that have won Pine & Gilmore’s Experience Stager of the Year (EXPY) award, but then present examples of the physical things (goods) and intangible activities (services) that he most admires for their design distinctions – and the principles he detects that create their appeal.
Jim Gilmore specializes in provoking executives to think more richly and constructively about growth and innovation. Combining imaginative business thinking with practical analytical tools, Jim excels at helping businesses conceive new ways of understanding customer needs and adding value in the marketplace. To direct new strategic thinking and foster greater corporate ingenuity, Jim leverages insightful frameworks drawn from his world-renowned expertise in three innovation disciplines:
First, Jim challenges organizations to think beyond goods and services as means to overcome commoditization and engage customers with truly new forms of output. His highly influential work, The Experience Economy: Work Is Theatre & Every Business a Stage (Harvard Business School Press, 1999), now published in fifteen languages, literally wrote the book that spawned worldwide attention in experience design, experiential marketing, and customer experience management. Tom Peters rightly called The Experience Economy “a brilliant, absolutely original book.” Gilmore’s thinking on the subject is unparalleled in terms of challenging businesses to explicitly create value in two customer currencies—the importance of their time and the desire to achieve personal transformations.
The second innovation area in which Jim assists businesses is in mass customizing products and processes. He is co-editor of Markets of One: Creating Customer-unique Value through Mass Customization (Harvard Business School Press, 2000), which addresses how to best pursue customized offerings in the face of increasingly fragmented markets. Jim challenges businesses to go beyond mere customer satisfaction (the gap between what customers expect and what they perceive they get) to focus on the new innovation metric of customer sacrifice (the gap between what customers settle for and what they want exactly) in uncovering new innovation opportunities. Not limited in any way to consumer businesses, Gilmore argues this metric in particular holds the key to creating value in B2B relationships.
The third arena of innovation directs businesses to consider a whole new consumer sensibility in today’s marketplace, namely the desire for authenticity. Jim’s most recent book, Authenticity: What Consumers Really Want, (Harvard Business School Press, 2007), outlines how authenticity must be managed as a distinct business discipline if any innovation is to find a receptive buyer. In a March 2008 cover story, TIME magazine recognized the significance of Gilmore’s insights on this subject and named it one of “Ten ideas that are changing the world.” Here Jim addresses ways for businesses to innovate that go beyond appeals to availability, cost, and quality—outlining the deliberate steps needed to gain the perception of authenticity and a reputation as real.
Jim has worked across a wide array of industries. His work in experience innovation has included helping a number of hospitality clients, technology firms, equipment manufacturers, restaurant chains, and medical care businesses. He has helped both goods manufacturers and service providers incorporate principles of mass customization into their operations. Jim’s work in helping organizations render authenticity has primarily focused on travel and tourism, real estate development, and urban renewal.
Jim is co-founder of Strategic Horizons LLP and a Batten Fellow and Adjunct Lecturer at the Darden Graduate School of Business at the University of Virginia. He is a graduate of The Wharton School of the University of Pennsylvania, an alumnus of Procter & Gamble, and before co-founding Strategic Horizons LLP was head of CSC Consulting's Process Innovation practice.