An old saying goes, it’s wiser to spend your money on “experiences” rather than on “things,” as things are easily forgotten, but experiences live on in your memories, for good or bad.
Through experiences, we tell our stories, we shape our personalities, and build our perception of life as we know it.
Certain life experiences bring out our true emotions, ones that quickly bring our thoughts to the surface. For instance, our first moments in a country we’ve never visited before or waking up to a surprisingly snowy morning.
This phenomenon is also seen in business. There are experiences that businesses can count on to shape their future, be it bright or dim. Those generally fall within certain categories, such as customer experience, which is the most popular, as well as product experience, brand experience, and employee experience.
These categories combine to form the underlying principle of how various populations experience your business, or what is called experience management. New and emerging technologies bring new opportunities for experience management. It is more important than ever to hone these technologies to make the most of our investments in our businesses.
Merely gathering statistics about a product or customer reviews is no longer sufficient. As change is now too fast for us to digest, a report generated only a moment ago – such as one marking great sales numbers – could already be expired. A simple social media post from a disgruntled employee or an adamantly negative review from a loyal customer could destroy that positive report and mean the worst for a business in a domino-effect manner.
Keeping this mind, what if we had complete control over how people experience our business? What if we could predict disgruntled employees and give them a raise or ask them how to improve the business before they complained on social media? What if we improved the opportunities to receive positive product reviews by taking corrective action based on past negative experiences? Even more, what if we knew exactly why experiences around our businesses are skewing towards a certain direction and could take informed, preemptive actions to keep our goals on track.
Such capabilities are now at our fingertips, as the relevant data is available to support experience management.
The first data set is what we call operational data, or all the data from the systems we use to power our business, whether its a CRM or an HR management system. The second set is what we call experience data, which can be gathered from social media and internal and external surveys; the key fact is that this data is gathered at the right point in time, analogous to the moment a person wakes up to a surprisingly snowy morning.
It is imperative for experience management to be a core part of today’s businesses strategies, given the social fabric that facilitates high impact and speedy business outcomes, as well as the huge amount of data available for business to capitalize on and gain a competitive edge in brand popularity.
For more on making customer experience matter, see “Five Ways “X Data” Fuels The Intelligent Enterprise.”