"Buying Experience Over Products"... KCCI Hosts Online Lecture for Management Concert

[Asia Economy Reporter Hwang Yoon-joo] "As the role of digital channels in consumers' product purchases rapidly expands, companies must also adopt marketing strategies that align with this change."

The Korea Chamber of Commerce and Industry (KCCI) invited Woo Mi-young, CEO of Adobe Korea, to deliver an online lecture titled "Customer Experience Strategy in the Digital First Era" as part of the "KCCI CEO Insights" series, which was released on the 4th.

CEO Woo stated, "Due to the impact of the pandemic, consumer touchpoints have rapidly shifted from offline to digital, and the utilization of digital channels has significantly increased. Now, not only the quality of the product but also the entire experience?from information search to post-purchase evaluation?has become important, marking the beginning of the experience business era."

She also noted, "Although digital touchpoints between companies and customers are expanding, consumers value 'experiences' that carry special meaning rather than just 'products,' which makes customer churn easy and brand and corporate loyalty low. In the experience business era, the success or failure of a company will depend on how well it can provide optimized experiences."

Furthermore, CEO Woo suggested focusing on △cloud and artificial intelligence-based systems △digital skills and capabilities △employee-centered flexible corporate culture △customer empathy △transparency and trustworthiness in the use of customer data △and authentic corporate brand value to provide differentiated experiences to consumers.

She introduced the case of the global ice cream brand Ben & Jerry's, explaining, "Ben & Jerry's not only increases market share by targeting individual tastes but also connects its product characteristics with the global warming campaign 'Melting Means Failure,' empathizing with customers while realizing social value."

This lecture can be viewed from March 4th on YouTube (KCCI Insights) and the Korea Chamber of Commerce and Industry website.