We have reached a time where it is no longer just about creating and selling better goods and services, it is about delivering value in the experience. Some would even call this the peak of the Experience Economy.

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First used in a 1998 article by B. Joseph Pine II and James H. Gilmore, the term “Experience Economy” was used to describe where the economy was heading post service economy.

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The essence of the Experience Economy, as outlined by the two economists implied that in order to get ahead, “businesses must orchestrate memorable events for their customers, and that memory itself becomes the product: the “experience”. (The Experience Economy, 2019)

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Their explanation could not have been more accurate.

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Giving rise to the experience economy today are Millennials and post-Millennial group Generation Z who are digitally-innate, have a strong desire for personalised experiences and are reaching out to brands through more touch points than any other generation before.

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For real estate providers, these generational changes bring both challenges and equally attractive opportunities.

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The success of a brand ultimately comes down to how a brand is perceived.

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Therefore, it is more important than ever for companies to start investing in creating a strong brand.

How to create a memorable brand experience?

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In today’s world, brands are defined by the experiences they give. The way the customer feels is always at the center of the brand experience. Therefore, when it comes to building a brand, every touch point matters.

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A great starting point is the creation of a brand positioning strategy, which paints a holistic picture of all the possible places a brand will ‘touch’ a customer at all the different points in their customer journey. (Brand Touchpoints, n.d.)

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