Research results, along with the performance of companies like Apple, Starbucks, Amazon, and Intuit, have shown us that the value of extraordinary customer experiences is a powerful and effective currency. Once people have an extraordinary experience with a company, they value it above other alternatives available to them. Companies have opportunities to be the first to change the currency of their markets, by positively transforming the experience continuum. Once this happens, as it has in the smartphone, home video, personal finance, and video camera markets, among others, those markets are permanently transformed. Competitors in a market who do not improve their customer experience will be trading with a less valuable currency going forward. They may be trading on price or features or another currency that can be devalued by a competitor’s superior customer experience.
The Customer Experience Revolution