If I told you to close your eyes and think of Walt Disney World, what do you think of? You start to start seeing the rides and characters, smell the popcorn and other treats, and hear the iconic music within the Disney catalogue. The reason you are so quickly able to jump your mind to that place is that it is so recognizable. Even just seeing a photo from the place brings you there. This is the entire point of immersion and the experience economy as a whole. According to EHL Insights, “In this framework, the memory itself becomes the product. While goods are tangible and services are intangible, experiences are memorable. A lasting memory and the positive feelings associated with it can be worth so much more to a brand, especially when analyzing metrics such as lifetime value (LTV) and customer evangelism rates.” The whole point is taking a normal experience and elevating it by enhancing the experience.
Apple
On a smaller scale than Disney, Apple does a fantastic job at this. Buying an iPhone or any other Apple product is much more memorable than just buying it. The sleek packaging of Apple makes it instantly recognizable and makes the entire process seem high quality. In addition, having high-quality packaging makes Apple seem more trustworthy to consumers compared to other cheaper brands. I bet you have an old iPhone box saved somewhere (I know I do). According to a study by 9 to 5 Mac, 28.8% of consumers keep their Apple boxes forever, and 59.5% keep them until they get a new iPhone. Why do we save them? It’s not like we are going to use it. It’s because it seems high quality, and it reminds you of going back to the time that you bought the tech product.
Starbucks
Another great example of the experience economy is Starbucks. Obviously, people go to Starbucks for coffee and food, but it’s more than just that. The entire atmispher or the coffee brand is perfectly crafted to feel warm and cozy. In the words of Starbucks itself, “Starbucks has always been a special place to gather and connect. We’re woven into the communities we serve. Our coffeehouses are gathering spaces for conversations, connection and joy, where our Green Apron baristas deliver expertly handcrafted beverages, make meaningful connections with their communities and deliver that much-needed pick-me-up to start your day, customized how you want. Our promise to our customers is to uplift the everyday, every time you visit us.” The fact that one mini paragraph written by the brand can instantly describe the look and feel perfectly shows how important the atmosphere and experiences are. And when the experience is that well liked by consumers, then they will do whatever they can to go to said brand. This is why Starbucks can get away with charging a good amount more than its competitors. It’s all about the experience.
Sports Games
My favorite type of experience would be sports games, specifically, to me, hockey games. The whole idea of a sports game, from before the game starts to the time you’re back home, is carefully crafted. The feeling of going into the stadium with thousands of other fans who have the same interests is really cool. And in some instances, fans tailgate outside of the arena, which also builds to the experience. For me, it really comes together when you sit down in your seat. The visuals from the scoreboard, the light show and intros, the national anthem, and then the game starts. All of it comes together to hype you up for the game ahead. This all comes together to build the experience and make it special. Obviously you can watch the game at home, but there’s something about seeing it live. I would say I have the exact same experience when it comes to concerts. Seeing both live is truly incredible and are definitly top memories in my mind.
All in all, the atmosphere and the experience as a whole are so crucial when it comes to the experience economy. Building a strong and recognizable experience is so important when designing for a brand and really makes them stand out.
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