Businesses can leverage the Experience Economy to increase customer loyalty by focusing on providing transformative experiences. This involves understanding the needs and preferences of their customers and tailoring their products or services to meet these needs. For instance, a company like Rawlings, which is the exclusive baseball manufacturer to the Major Leagues, realized that most of its customers are people who enjoy baseball and a good game of catch. By focusing on this customer base and their experience, they were able to increase customer loyalty.
By customizing each part of a customer experience, a product or service increases in value. Using ke...
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