Part 3: The Moment Economy & Value Capsules
In the last post of the series, I explored how the Moment Economy is gaining each time more importance, changing complete business logic, as in case of Amazon Kindle services. Flexible structures as Apps and pharmaceutical pills already follow the logic of generation value for a specific moments.Temporarily and mobility represents increasingly how consumers interact spontaneously, and it will only expand further in the next years to come.
To deliver and access this new behavior we cannot just focus on experiences or just characteristics of a product or a service. The focus must be value, and it is a combination of several elements, transformed into a structure that is delivered and consumed during the Moment of Consumptions (Value Moments). I call them Value Capsules and they represent a combination of four elements:
- The Origin: James Collins calls it Core Ideology and Jeremy Heimans with Henry Timms,”The Powers”. Both describe the characteristic of the relationship and engagement between the value generator and perceiver and most importantly how it was established and currently managed. There exist always an underlying shared value, believe or interest that establishes the relationship and we have to understand why this relationship and engagement exist. Why is our customer willing to connect and experiment with the organization?
- The Access: Access is about interactions. Experience and value do not materialize by its own in the human. Always a platform allows them to unfold. It needs a physical interface to deliver experiences. The Access describe the functional aspects of the product or service that allows an interaction between the parties. It also describes the first value exchanged that in this case allows the access that again can be tangible or intangible. Through what product and service do we connect? What value exchange is necessary to access the platform?
- The Experience: Organization lead (yet) with humans and therefore trigger an emotional and cognitive respond to their offering. These experiences unfolds always in a specific moment and context and they are connected with Access and the expectations from the initial relationship. When interacting with a product/service or brand the experience unfolds in the Moment and establish an emotional and cognitive perception transcending the physical product or logical characteristics. As long as the experience is positive or neutral, a second value exchange might takes places, defining organizational sustainability. What bundle of experience generate what value? What different bundles should be part of the capsule to adapt to different contexts?
- The Value Exchange: The Value Exchange defines the options of values that can be exchanged to satisfy both involving parts of the “transaction”. Without that exchange, no Value Proposition is sustainable. What turns the transaction sustainable? What do we need in return and when? Where and what value transfers occur during Access and Experience?
Integrating those four facets of value delivery in a specific moment and context, we can design a Value Capsule for it. And each organization have multiple ones depending on their touch-points, offerings and moments they serve. They might even have multiple options for the same moments, to increase the likelihood of perceiving a meaningful experience.
As we break down the complex logic of value in capsules, we can explore more easily the different moments in our offering and how they are connected with the overall Value Proposition.
What are your Value Capsules?
Thank you for reading my post. Please spread the word and your point of view in the comments.