Innovate the Experience, Not Just the Product

Leading-edge brands are rethinking the whole customer journey.

Today’s product innovations, and the growth they create, are often incremental, narrow and fleeting.

For many decades, the major focus of innovation efforts has been on the product. The persistent drive to add features, incorporate new technologies and create niches has lead to breakthrough innovations. The strongest product innovators in software, electronics, consumer products and automotive categories have created billions of dollars of economic value. Such innovation has spawned service winners as well: the perfectly designed credit card rewards scheme; the simplest cell phone plan; and the healthiest, hippest restaurant menu.

As our story in Ten Ideas points out, however, today’s product innovations, and the growth they create, are often incremental, narrow and fleeting. Global competition and technology diffusion mean that competitors quickly match most improvements. And the radical transparency of digital and social media prompts consumers to quickly switch allegiance with each new alluring offer. For many of today’s most innovative and up-and-coming brands, the product is not the star. So what is driving differentiation and growth?

The answer lies in the experience.

We invite you to explore our Ten Ideas article and consider how experience innovation can pay off for you.

Your brand is the sum of thousands of impacts and experiences that make or miss a consumer connection. How critical is a focus on customer experience innovation for your company? Ask yourself these questions:

  • What is the experience around your core offer?
  • What exciting signature moments can you create across the customer experience?
  • Do you meet as a leadership group across functions and silos to talk about the customer experience and how you can improve it?
  • Does your entire array of experiences connect together — and to your brand?
  • What is your vision for your future?

At Lippincott, Experience Innovation is the practice of delighting customers and driving growth opportunities by taking a holistic view of the context in which customers and brands interact. Whether innovating new experiences for growth, designing signature moments for differentiation or curating a distinctive overall brand experience, we help companies remain vital and relevant in today’s fast-changing, competitive marketplace. With expertise in business, behavioral, operational, digital and physical design, we have brought experience innovation to life for clients such as BMW, Delta, Estée Lauder, Hyatt, Infiniti and Samsung.

A Spectrum of Signature Moments

Companies are reimagining the customer experience by introducing innovations that surround the core offer, which can range from enhancements to completely new avenues of growth.

Leading-edge brands are rethinking the whole customer journey

By Randall Stone, the director of experience innovation, and Rick Wise, the Chief Executive Officer of Oliver Wyman’s Lippincott brand advisory practice