Experiences in loyalty programs: how and why to create them

At the turn of the century, Joseph Pine and James Gilmore introduced the world to the concept of the experience economy. Twenty-four years later, this idea is more popular than ever. 

Offering experiences consists of using products and services as a means of engaging consumers on an emotional level, creating moments that are unforgettable. 

This is what sets experiences apart and makes them so special: they are closely linked to the emotional perception of consumers. As such, it is almost impossible for two people to have the same experience, since the experience depends on the interaction that each individual has with it, which varies according to mood, expectations, previous relationship with the brand and many other personal factors.

A trip to the Disney parks, for example, is designed to be unique for each visitor: with elements that provide a complete experience at all points of contactthe brand awakens the most diverse feelings in each person, so that, in the end, the day is memorable for everyone in some positive way! 

Why invest in experiences?

The ideal time to start investing in offering experiences is now, because spending on experiences is growing at a faster rate than spending on goods and services, and millennials are the leading generation in this shift in consumption. 

Part of this movement is due to the fact that the vast majority of consumers have already resumed their pre-pandemic routines, which includes attending events, getting together with family and friends, shopping in physical stores and being away from home more in general.

In line with this, theFear Of Missing Out is increasingly present in the lives of consumers, especially young people. This expression represents the fear people have of not participating in certain moments and ending up missing out on something special. 

And anyone who thinks that experiences are restricted to amusement parks is mistaken. With well thought-out strategies, various business models can take advantage of this trend and increase customer loyalty to the brand.

How to create experiences?

In restaurants in the United States, the term eatertainment (a combination of "eat" and "entertainment") is already very common and is related to offering experiences that make the visit to establishments much more fun for customers. It's possible to offer different menus, invite DJs or musicians to play on a certain day/time or even let the customer make their own dish or drink .

In retail, physical stores are the perfect environment to create experiences that attract new customers and retain existing ones. Niketown, for example, which opened in the late 1990s, offered a grandiose experience for visitors. With large screens that projected videos, a piping system that took products from the stockroom to the salesperson, a sneaker customization area and many new features every year, the store became a tourist attraction and attracted thousands of visitors. 

The experience can also be a benefit for the most engaged customers in your loyalty program. You can invite them to an exclusive party, take them behind the scenes of your company... there's a whole universe of possibilities! 

Steps to create an experience

Regardless of the area in which your business operates, it's important to pay attention to a few requirements in order to create an unforgettable experience for your customers: 

• Understand what your audience really wants in an experience
• Spread the experience with marketing campaigns that generate anticipation 
• Make all the elements of the experience refer to your brand
• Create a storytelling that awakens the emotional side of the participants
• Stimulate engagement with interactive elements 
• Continue the experience after it has taken place with a consistent relationship rule 

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In this exclusive and free material, you will learn about:

• Use of Artificial Intelligence
• Offering experiences
• Rise of Generation Z
• Consumer of the future

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