Creating a premium experience
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Creating a premium experience is a significant focus in various industries. Here are some insights from trusted experts on what defines and drives a premium experience:
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Premium Experience and Revenue:
- Ryan Smith from Qualtrics emphasizes the "experience premium," where consumers are willing to pay more for exceptional experiences. This involves not just customer satisfaction but also creating brand ambassadors and ensuring high retention and upsell rates. Companies like Uber and Airbnb exemplify this by reinventing the customer experience at every touchpoint 1.
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Authenticity in Premium Transitions:
- Sadie Lincoln from Bar Three discussed how transitioning to a virtual model during a crisis involved maintaining their premium brand by focusing on authenticity and connection with clients. This transition highlighted the importance of the emotional connection customers have with their instructors and the intimate, authentic experiences they value, even in a less polished, virtual setting 2.
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All-Encompassing Experience Management:
- Espree Devora mentions creating phenomenal experiences by considering every interaction, whether it's with customers, guests, vendors, or listeners. This includes detailed attention to all aspects of engagement, aiming to make everyone feel acknowledged and appreciated in their professional journey 3.
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Value Creation Through Time Saving:
- Dan Harrison and Mark Groves discuss that people often pay premiums to save time and achieve faster results. The real value lies in the speed of transformation that higher-level programs offer, making time the most valuable asset. Immersion experiences, in particular, provide profound transformation that premium customers seek 4.
These insights highlight that a premium experience goes beyond just product quality; it involves exceptional service, emotional connection, effective experience management, and saving time for consumers.
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