So, when you go to the game, do you buy a hot dog, a beer and a banner before the first quarter? Do you buy them all from the same vendor? Do you go back during the half? Does the score impact how much money you spend on concessions? All of these questions and more are being considered by Orlando Magic as data points in the customer experience.
Watch this great Inside SAS Global Forum interview with Anna Brown and Anthony Perez, Director of Business Strategy with the Orlando Magic.
Read this fantastic SAS Global Forum 2012 paper about creating the customer experience by Toshi Tsuboi. Tsuboi writes, "If you are involved in a consumer-oriented business, you probably get a sense that consumers are never satisfied....while you strive to provide them with what they want, if you mess up just once, they decide to tell everyone around the globe about it using Twitter and Facebook.
This change in customer expectations was foreseen back in 1999 by B. Joseph Pine II and James H. Gilmore in a book titled The Experience Economy. They described a new economy they called the experience economy, in which experience is the new currency. They argue that businesses must orchestrate memorable events for their customers, and that memory, or "experience," becomes the product. If a business is more advanced in providing experiences, that business can begin charging for the value of the transformation that an experience offers."
Intrigued? Read the paper.