Cravens Blog
The Experience Economy
Consider the humble coffee bean. Grown in mountainous regions around the globe, by hundreds of thousands of farmers and their families. Millions of pounds each year.
So what differentiates coffee?
It is where and how it is grown, milled and graded. It is how it is roasted and packaged. And then how it is prepared and presented. These combined steps make a difference. When coffee is attended to with care, discipline, and creativity the final experience is distinctive and memorable. You can “taste the place”, embrace the quality and enjoy the service … all in the cup.
Experiences are a distinct economic offering, as different from “services” as services are from “products”. Experiences have always been at the heart of entertainment, exemplified by Disney theme parks. For every guest (not “customer”), Walt Disney World cast members (not “employees”) stage a complete production and create a memorable experience.
True Specialty Coffee is an experience. From coffee lands and their accompanying stories. To the roasting process and its vintage history. To the correctly and carefully built espresso beverage or brewed cup.
What distinguishes an experience from a service or product?
* products are tangible, services intangible. But experiences are memorable
* products are inventoried, services delivered on demand, while experiences unfold
* products are standardized, services customized, while experiences are inherently personal
These distinctions explain why experiences have the power to create new and greater economic value, and why some coffee businesses do much better than others.
Providing a true experience is about engaging the customer and connecting in a personal and memorable way.