The Experience Economy was in full effect, with 76% of consumers agreeing they would rather spend money on experiences over material items. But almost overnight, the pandemic upended this. Consumers now seek out brands who use technology to make their experiences with products and services seamless and contactless, while still retaining a human touch. We are entering the virtual experience economy.

Technology has made entrepreneurism exceptionally easy. In the early years of the internet, aspiring innovators’ reach was greatly extended, but the high cost of acquiring and maintaining the servers needed to reliably run a website still imposed a significant barrier to entry and scaling.

Peter Butler, General Manager of Everise PX, joins the CONNECTIONS™ Summit as part of a panel discussion on Installation and Support: Next-Gen Smart Home Services. In an interview with Everise partner, Parks Associates Peter Butler of Everise Product Experience (PX) shares his insights on the future of Smart Home Services.  

There is a saying that goes, “For every thousand hacking the leaves of the problem, there is one striking at the root.” Businesses should target the underlying issues before it happens.

I’d like to share with you the formula for elevating not only customer experiences, but experiences for all your products and people. In today’s experience-led economy, people don’t buy products, they buy experiences. Why? Because as goods and services have become commoditised, people are willing to spend more on a better experience.