Value creation is a  term I am using to describe when, where, how, why and by whom, value is created during the creation and consumption of a product and experience. For instance you might value the delicious anticipation of an exotic holiday or years later when you realise that you are glad you learned a skill such as playing the piano that seemed arduous at the time.

How and who by? This is such a big question with a lot written about it. Luckily I have read some of it so you don’t have to and better still I will include examples and allude to it in my blogs so any followers will get the gist. Suffice to say that value is added in the minds of the users and the user community and if they value it highly they will promote it and exchange currency for it. Which is why understanding your customers experiential aims is so important. As the season of Christmas is nearly upon us let’s consider the journey of the Magii and re-imagine what those aims might have been for Caspar, Melchior and Balthazar.

Caspar was really up for it and didn’t want to hang around at home – he wanted to have some adventure – seeing new places and people, camel riding, camping under the stars, lighting lots of fires.

Melchior had been studying the conjunction of the stars and planets and casting his knucklebones and divined that a new king was to be born 12 days journey away. As a mage he considered it his role to make a visit.

Balthazar really wasn’t enthusiastic but he liked the other two and going around in a gang and so didn’t want to miss out this experience with his ‘besties’.

Melchior purchased gifts to take along. Kasper prepared the camping equipment and transport and purchased lots of new gadgets to try out.

The journey was uncomfortable – some nights it was really cold and they couldn’t get their camp-fires lit and their goat cooked (Caspar’s fault apparently with his new lighting tool), there were incidents with bandits and wild animals threatening them but Balthazar observed “it will give me something to talk about at dinner parties if I ever return home”.

The star of wonder finally brought them to where a baby had recently been born. But it was a stable for cattle instead of a grand house. Embarrassing. How could they have been so wrong? Surely the divinations had not been incorrect, the hardships they endured on the journey all wasted and meaningless? Putting on a brave face they greeted the parents and solemnly presented the gifts to the child. “Well that was awkward” joshed Caspar afterwards. And they started the journey back to Persia feeling somewhat disappointed. But then an angel appeared and had some new travel directions for them.

“No-one will believe that we’ve had a visit from an angel” said Balthazar as he sketched the angel to show people when he returned.

Melchior cheered up and lived a happy fulfilled life as a respected magus.

Caspar pursued a career in adventure survivalism.

So this story discusses experiences and differing psychological needs.

Caspar has a need for autonomy and Balthazar for social connection. Melchior seeks self-esteem and meaningfulness. One definition of meaningfulness or eudaimonia is that it is a “cognitive and emotional assessment of whether one’s life has purpose and value” (Baumeister et al. 2013).

We can also imagine the retrospective value how years later they talked about it and laughed and reminisced – “did you see their faces when we turned up with gifts for their baby?” “And how we were all ill after eating raw goat?” ROFL

So I am attempting to illustrate that value is created by the participants according to the fulfilment of their psychological needs.

In a customer journey we can compare the appearance of the angel to an authority figure who affirms the purpose of their journey and is also additional interactivity to spur them on.

As a business you need to consider what potential there is in the experience that your product or service provides. Do some research into your existing and potential customers. The results should be fed into your offering; the marketing strategy, branding, positioning and messaging.

   ©️2023 Alexandra Stacey