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Engage Consumers Video July 21, 2015

Consumer Experience: Leading-Edge Brands Across Industries Rethink the Whole Customer Journey

The second edition of “Ten Ideas from Oliver Wyman” represents the firm’s latest thinking on what it takes for companies to remain relevant to their customers. In the article “Innovate the Experience, Not Just the Product,” Randall Stone, the director of experience innovation, and Rick Wise, the Chief Executive Officer, of Oliver Wyman’s Lippincott brand advisory practice, point out how today’s product innovations, and the growth they create, are often incremental, narrow, and fleeting.

Across an array of industries, including healthcare, companies are realizing that redesigning the customer experience – not just traditional product features – is the best way to differentiate their brand and grow. See below how companies, such as health insurance company Oscar, are reimagining the customer experience by introducing innovations that surround the core offer, which can range from enhancements to completely new avenues of growth:

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