Arrival Of The Experience Economy

A new study by Econsultancy and Adobe confirms that personalised and interactive content is key to achieving customer satisfaction in the “era of experience”.

In the years since the dot-com bubble, a significant shift has taken place in the relationship between corporations and consumers.

Today, copious information is instantaneously available and has firmly planted the customer in the driving seat. This power has enabled the individual to demand more. And what is it that we, the consumer, demands above all else? Value.

Enter the Experience Economy

As stated in the latest report by Econsultancy in partnership with Adobe, which is aptly entitled Digital Trends 2017, the experience economy has finally arrived.

This new era requires that companies reach further than simply offering a product of quality and convenience; the value that customers seek relates to the entire experience they have with a brand.

Engaging and Interactive Content

By providing highly engaging and interactive content, which most obviously comes in video format, companies can offer customers exactly what they need, and engage with them on a far deeper level than ever before.

“There is also increasing evidence that the opportunity of delivering effective personalisation at scale cannot be ignored: separate Econsultancy research revealed that 96% of organisations rate personalisation as a ‘highly’ or ‘quite’ valuable method for improving conversion rates,” reads the report.

Personalisation is the Key

Personalisation is the key, and works both ways; customers receive a value-added service, both parties engage far better with one another, which in turn leads to greater conversion rates and brand loyalty.

However, while personalisation requires the utilisation of data-driven marketing and interactive content, many organisations still continue to struggle with big data.

As stated in Digital Trends 2017, “The realisation that data-driven marketing is a bigger mountain to climb than may have previously been thought could well explain this dip in enthusiasm”.

Highly Bespoke Experience

Naturally, offering a highly bespoke experience at scale is no small feat. Fortunately however, big data analytics does not have to be an insurmountable challenge.

Partnering with external experts like VideoSmart can enable companies to make the most out of their customer data, thereby allowing them to offer personalised and interactive content that adds real value to the end-user.

Take personalised and interactive videos. With this innovative tool, realms of customer data can be used to create highly engaging videos that are specific to each individual.

Personalisation, Data-Driven Marketing and Interactive Content

Market-leader VideoSmart can thus help companies to successfully incorporate into their strategies the latest digital trends – personalisation, data-driven marketing and interactive content – which together provide that which we all seek nowadays: value.

Want to enter into the experience economy? VideoSmart will guide you each step of the way.

For more information, contact VideoSmart at hello@videosmart.com