How B2B companies create economic value by designing experiences and transformations for their customers

Abstract

Purpose

This article explains how B2B companies can create economic value by designing experiences and innovations that will be transformative for their customers.

Design/methodology/approach

The article shows that B2B goods and services are increasingly marketed in an Experience Economy, an arena where interactions are based on what experiences buyers and their customers value.

Findings

The big value creation insight is that industrial companies. like consumer product companies, can create breakthrough innovations by understanding, responding to and transforming the experience of their customers. But with B2B companies the experience discovery process extends to their customers’ customers.

Practical implications

Almost any B2B business can be transformative if it aims its innovation efforts at satisfying its customers emerging needs and those of its customers’ customers. These are the aspirational outcomes that transformative companies provide.

Originality/value

One of the first articles to show leadership of B2B companies and their marketing and research units how to set up experience demonstrations and development projects that involve their customers in the process of customization, innovation and transformation.

Citation

Pine, B.J. (2015), "How B2B companies create economic value by designing experiences and transformations for their customers", Strategy & Leadership, Vol. 43 No. 3, pp. 2-6. https://doi.org/10.1108/SL-03-2015-0018