Joe Pine on the amazing evolution of The Experience Economy over the last 25 years Artwork

The CX Iconoclast

If you’re exhausted by traditional approaches to CX, impatient with the stunning lack of progress in the field, and done re-hashing the “best practices” that don’t change anything, you’ve found your podcast. Here’s what we know: Companies gain competitive advantage through exceptional customer experience, and customer insights are the best decision-making tool there is. But traditional CX approaches have run their course and it’s time for the next revolution in CX. Tune in every two weeks as Richard Owen, co-founder of OCX Cognition, hosts conversations and interviews with business leaders, academics, and thinkers whose ideas can guide the CX profession to think in new ways about what success looks like. Most of them aren’t CX professionals, but all of them have something to teach us about CX. We’ll take a clear-eyed look at the problems that have hampered the discipline and explore the compelling ideas behind a re-engineering CX for a modern world. Come disgruntled, leave inspired. Find us at www.ocxcognition.com

All Episodes

The CX Iconoclast

Joe Pine on the amazing evolution of The Experience Economy over the last 25 years

September 09, 2024 • OCX Cognition

In this episode of the CX Iconoclast Podcast, Richard Owen hosts Joe Pine, thought leader, academic, and author of The Experience Economy and several other influential books including Mass Customization, Authenticity, and Infinite Possibility. The conversation with Joe Pine covers the evolution of The Experience Economy over the past 25 years, the impact of digital technology, the shift in consumer preferences, and the role of AI in creating transformative experiences. It also explores the challenges and opportunities for companies in embracing the experience philosophy and the importance of customer co-creation. Here are some of the main points they cover.

The Experience Economy has evolved significantly over the past 25 years, with the rise of digital technology and the shift in consumer preferences towards meaningful and transformative experiences. They note how the recent pandemic accelerated the digital trend.
AI plays a crucial role in the design and customization of experiences, but companies must be cautious not to dehumanize their offerings and instead focus on augmenting human skills and abilities. Effective leadership is crucial in leveraging technology to augment rather than automate human roles, ensuring that the transformation drives value creation rather than mere cost reduction.
Experiences are not confined to premium markets. Joe illustrates that consumers across all income levels seek valuable experiences, tailored to their specific economic circumstances.
Customer co-creation is essential for creating value and engaging the most valuable customers, allowing them to participate in the creation of products and experiences. Joe uses his new collaborative book-writing process as a great example of co-creation.
Richard highlights that even in commodity markets, innovation in customer experience can differentiate a brand and create profit opportunities. He shares how Pine’s concept of the experience economy has influenced his career, emphasizing the importance of viewing products as experiences to unlock new value.

Join Richard and Joe as they explore these themes and consider how businesses can strategically harness the power of experiences to thrive in today's economy.

About Joe Pine: Joseph Pine is an internationally acclaimed author, speaker, and management advisor known for his pioneering work on the experience economy. He co-authored the groundbreaking book The Experience Economy with James H. Gilmore, which introduced the idea that businesses should engage customers through memorable experiences rather than just providing goods and services. Pine's work has significantly influenced how companies approach customer engagement and value creation. He is a co-founder of Strategic Horizons LLP, a thinking studio dedicated to helping businesses conceive and design innovative experiences. Pine is also a frequent keynote speaker and has written several other influential books on mass customization and customer experiences.

Find out how predictive CX analytics can help your business: https://ocxcognition.com/
Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/
Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3

People on this episode

Richard Owen

Host