Demystifying the customer experience: Harvest data to thrive in the Experience Economy

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The term customer experience (CX) has become woefully overused. Yet, B2B and B2C organizations, regardless of their industry, struggle to offer it. For us to more clearly understand CX, let’s look at how economies progress.

Consider coffee beans as a commodity. They might garner a dollar a pound. Then, after roasting, grinding, and packaging, the retail selling price expands 10X or more. As that product becomes part of a service − a fresh-brewed serving from a vending machine, or kiosk – value grows even more. But what makes coffee an experience is having a knowledgeable barista prepare it just for you as you relax, surrounded by trendy café ambiance.

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