Leading the experience ecosystem revolution: innovating offerings as interactive platforms

Abstract

Purpose

The author explains how networked interaction, propelled by the internet and the forces of digitalization, ubiquitous connectivity, globalization and social media has become the new locus for creating value. And how that networked interaction is accelerating the shift of value creation towards the experiences of individuals who want to define choices in a manner that reflects their view of value and their own expressions of personalization. 10;

Design/methodology/approach

The article explains that every enterprise is now faced with the challenge of learning how to create valuable impacts of experienced outcomes through smarter, connected offerings and the networked interactions of individuals.

Findings

Instead of having fixed economic value, offerings are increasingly a means for the dynamic creation of experience value through ongoing and new types of networked interactions.

Practical implications

Rather than simply elevating the user experience of a good or service, the co-created experience itself becomes the product.

Originality/value

The Starbucks and Burberry examples suggest how offerings are being enhanced by interactive technologies that open up new sources and avenues of experience value creation. The article explains how any enterprise can now adopt a strategy of ‘capabilities as a service’ by innovating its own ecosystems of customer and stakeholder experiences.

Citation

Ramaswamy, V. (2020), "Leading the experience ecosystem revolution: innovating offerings as interactive platforms", Strategy & Leadership, Vol. 48 No. 3, pp. 3-9. https://doi.org/10.1108/SL-01-2020-0014