“People Buy Experiences, Not Just Products”: Adobe CEO

“People Buy Experiences, Not Just Products”: Adobe CEO
SHARE
THIS



Adobe’s annual Symposium kicked off in Sydney this morning with a keynote by the company’s president and CEO on what it takes for brands and businesses to build a great experience.

Shantanu Narayen said the fundamental truth and challenge that’s facing every business today is consumers are no longer just buying products, but experiences.

“Products used to be the basis of differentiation, but not anymore,” he told attendees.

“Businesses must now deliver these great experiences to win in an increasingly competitive world because you’re competing with the hearts and minds of your customers, and their expectations are ever-increasing at every point of the journey.

“I think it involves operating your business with a subscription mindset, knowing that customers can choose to renew or cancel at any point with every click.

“And I think it means transforming how you operate internally as a business – always on, knowing the past, and anticipating the future across every device, channel and moment.”

Narayen identified three key things for businesses looking to build a great experience, the first being that you have to design for brilliance.

“Design is not anymore just the way something looks – it’s about the engagement that you actually have with your customers,” he said.

“We think that all great experiences start with great design – that spark of creativity combined with a clear purpose brings together a great experience to life.”

Shantanu Narayen (Adobe Symposium 2018) [1]

“You need intelligence, because intelligence will speed [up] the learning process, it’ll notice anomalies, it’ll identify customer pain points, and it’ll infer and predict intent,” he said.

“Intelligence has to turn this data into insights, so that you can take the right action quickly, and that’s when we think the real magic happens.”

The final ingredient for creating a great experience, according to Narayen, is having the right enterprise architecture, and one that’s built for action.

“The problem is that enterprise IT systems today were designed for a different time and a different task,” he said.

“The move to the cloud was a massive disruption in technology, but I think we’ve still fallen short as an industry, because the focus was on speed and reducing cost, and not yet on integration or experience, and this much change.”

Narayen said a new architecture is required fundamentally for business is to make the explosion of customer experience channels manageable.

“It’s an extremely tough challenge to solve; one that requires platform thinking and much stronger collaboration between the chief revenue officer, the chief digital officer, the chief marketing officer, the chief information officer,” he said.

Please login with linkedin to comment

Adobe Adobe Symposium Adobe Symposium 2018 Shantanu Narayen subscription mindset

Latest News

Twitter Lifts Revenue 74% On The Back Of Advertising Boom
  • Technology

Twitter Lifts Revenue 74% On The Back Of Advertising Boom

Twitter has just experienced its fastest growth in revenue since 2014, with the social media platform benefiting from increased interest from advertisers. Revenue was up 74 per cent YoY, according to the company’s Q2 results, reaching $US1.19 billion ($1.6 billion) from $US683.4 million ($925 million) 12 months ago. The strong results came in the same […]

by B&T Magazine

B&T Magazine
Wild Turkey Whisky Campaign Stars A Smouldering Matthew McConaughey
  • Advertising
  • Campaigns

Wild Turkey Whisky Campaign Stars A Smouldering Matthew McConaughey

Wild Turkey has announced the launch of its new global creative campaign and platform, ‘Trust Your Spirit’, featuring the brand’s creative director and spokesperson, Matthew McConaughey. The global campaign and platform ‘Trust Your Spirit’ is to encourage people to be bold, unapologetically themselves, and stay true to who they are. The global tagline and ethos […]

Optus Teams Up With TikTok To Launch Sign-Language Campaign
  • Marketing
  • Technology

Optus Teams Up With TikTok To Launch Sign-Language Campaign

Telecommunications company Optus has announced it will launch the world’s first TikTok sign-language activated filter. Featuring Optus ambassador Ian Thorpe, Optus will unveil a branded effect that shows TikTok users how to say key phrases in Auslan sign language, including ‘How are you?’ and ‘It starts with Yes’, through the hashtag challenge #SignYes. Optus will […]

Bapcor Debuts First Campaign With AJF
  • Campaigns

Bapcor Debuts First Campaign With AJF

Asia Pacific’s leading provider of vehicle parts, accessories, equipment, service and solutions, Bapcor will launch its latest campaign, ‘The unseen parts of every Australian journey’ this weekend.

Professional microphone in radio studio
  • Advertising
  • Media

Podsight’s Benchmark Report Shows Podcast Advertising More Effective Than Other Digital Channels

Podsights has revealed new insights into the effectiveness of advertising in podcasts, tracking global and Australian podcast advertising trends. This is the first Australian report to be published since ARN partnered with Podsights to set the standard for best-in-class podcast advertising measurement. The report includes additional analysis and follows a series of Measurement Masterclasses held for […]

NGEN’s Charity Cup Raises Over 175K For UnLtd Charity Gotcha4Life
  • Campaigns

NGEN’s Charity Cup Raises Over 175K For UnLtd Charity Gotcha4Life

NGEN’s 2021 charity cup has raised over $175,000 for UnLtd charity partner Gotcha4Life. Gotcha4Life is a not-for-profit foundation raising awareness and funding to provide educational workshops and innovative programs that build mental fitness in individuals and communities. While Sydney and Brisbane completed the Charity Cup in June, before Covid restrictions hit, the final leg in […]

Biennale Of Sydney & Cicada Innovations Launch Sustainable Materials Challenge
  • Campaigns

Biennale Of Sydney & Cicada Innovations Launch Sustainable Materials Challenge

Australian tech incubator Cicada Innovations and Biennale of Sydney are launching the ‘New & Sustainable Materials Challenge,’ in an effort to create a more sustainable future. The works of chosen material-makers will be showcased to millions of Biennale audiences, exhibition partners, and exhibition makers globally. The Challenge is open to any Australian and UK startups, […]