The shift from the experience economy to the transformation economy by Claudia Roth, founder of Soul Luxury.
Consumers want to be moved, engaged, inspired and fulfilled, and businesses need to shift their strategies to follow suit. Luxury consumers are not only interested in quality products and services (the experience), but in how a brand makes them feel (the transformation).
Five tips to get you started in identifying your own currency of connection:
- Write down your story. How do you describe yourself/your brand? Is it a true reflection of who you are? When you connect to who you really are – not the persona you put out – other people will naturally connect more strongly to you. This awareness will enrich and inform all areas of your life and work.
- Recognise that unlearning and creativity go hand-in-hand. If you do things the way you always have, a) you will not reap any rewards greater than you currently are, and b) you are going to be left behind in this fast-paced, ever-changing world.
- Dare to be different. A one-size-fits-all approach does not work in the Transformation Economy; as you cultivate your awareness, you’ll hear your inner voice more clearly and authentically.
- Engage employees. Equip and empower employees so they can effectively and authentically, service and support a new global consciousness; purpose driven employees who are passionate about building a genuine connection with consumers.
- Find inspiration and endorsement from leaders already aligned with the shift. In the words of Tadashi Yanai, Uniqlo CEO, Japan’s richest man and retail mogul: “without a soul, a company has nothing”.
Soul Luxury is the committed leader in the transformation economy, helping businesses to understand, grow and excel in line with globally evolving consumer awareness.
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