Can an experience be a Product? How so?

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VP Engineering in Software5 months ago

Experience can indeed be considered a product. In modern business practices, delivering an experience as a product has become increasingly central, particularly in service-oriented industries such as tourism, entertainment, and technology. Here’s how experience can be conceptualized as a product from my perspective:

Design and Development: Just like physical products, experiences are designed, developed, and iterated upon based on customer feedback and market research. For me, overseeing the creation of these experiences involves understanding customer desires deeply and translating them into service touchpoints that are unique and delightful.
Branding and Marketing: Being in charge of marketing, promoting an experience requires strategies is a part of my role that often involve storytelling, immersive advertisements, and engaging content that allows potential customers to visualize the experience before purchasing. This is similar to how tangible products are marketed, but the focus is on selling an idea or a feeling.
Measurement and Improvement: Like any other product, the success of an experience can be measured in terms of customer satisfaction, repeat business, and reviews. Tools such as Net Promoter Score (NPS), customer satisfaction scores, and online reviews can be used to measure the success of an experience. Based on these metrics, everyone can make data-driven decisions to improve the product aka experience.
Innovation: Continuously innovating the experience is crucial to keeping it relevant and engaging. This might mean introducing new features, using technology to enhance the interaction, or even rethinking the service model based on evolving customer expectations.

Ultimately, from my perspective, treating experience as a product necessitates a mindset shift, revised processes, and organizational alignment that you need to drive. Delivering differentiated, monetizable experiences is paramount for achieving success and sustaining competitive advantage in today's market.

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Senior Vice President of Product Management in Software4 months ago

An experience can be a product and a product must be an experience. If a product does not deliver any experience value , it is likely of little to no value as a product. Product management and the products that are delivered are symbiotic with experience and a must have.