Beyond customers: Why stakeholder experience is the future of business

The Experience Economy is not just about creating exceptional moments for customers, it’s about delivering value-driven experiences to all stakeholders. Research shows that organisations that design experiences not only for consumers but also for employees, partners, and communities achieve higher long-term success.

The shift from customer-centric to stakeholder-centric thinking

The traditional customer-centric model assumes that focusing solely on buyers leads to business growth. However, a more sustainable and impactful approach is stakeholder experience management, where value is created for everyone involved in the business ecosystem.

Studies in organisational psychology and business strategy indicate that companies focusing on stakeholder engagement experience:

• Higher employee retention & productivity: Engaged employees are 21% more productive (Gallup, 2021).

• Stronger partnerships & long-term collaborations: Companies that actively engage their suppliers and partners see 33% faster innovation cycles (MIT Sloan, 2020).

• Increased brand trust & reputation: Brands with strong stakeholder relationships have 2.5x higher customer loyalty (Harvard Business Review, 2019).

How do businesses apply this in practice?

John Lewis partnership: Every employee is a co-owner, receiving profit-sharing and a voice in decision-making. This creates a workforce that is more engaged, innovative, and loyal.

Porsche experience centres: More than just car dealerships, these centres immerse customers, business partners, and media in high-performance driving experiences, strengthening emotional brand connections.

Ben & Jerry’s: Integrates purpose-driven experiences for not just customers but also suppliers and communities, actively engaging them in social justice and sustainability initiatives.

EY corporate learning programmes: Invests in stakeholders by offering executive education for employees, clients, and future leaders, reinforcing trust, loyalty, and expertise-sharing.

What does this mean for your business or organisation?

If you want to design experiences with lasting impact, ask yourself:

1: How can I engage not just customers, but employees, suppliers, and communities?

2: How do I ensure all stakeholders experience my brand in a meaningful way?

3: How can experience design become a tool for trust-building and long-term success?

Find out more in my book From Experience to Purpose, where I explore how businesses can shift from transactional thinking to experience-driven stakeholder engagement: www.eventarchitect.com/from-experience-to-purpose/

Which company or organisation has made YOU feel truly valued as a stakeholder? Share your experience in the comments!