Episode 21: Thriving in the Experience Economy and Managing the Generational Diversity

In today’s episode, we are joined by Terry Coutsolioutsos, Senior Vice President of Sales Operations, Marketing, and Communications at Siemens Healthineers and the Founder/Principal of RevRx Consulting. We discuss how the “experience economy” has become so critical for business, yet the life sciences industry still struggles to meet the needs of both their customers and employees. Tune in to learn how these companies can use data and analytics, and the right mindset, to adapt quickly.

In This Episode, We Cover:

• [02:50] Why has the “experience economy” become so important, not just for MedTech but for the success of every business?
• [05:28] What are the current trends around the experience economy? What is happening now that impacts the evolution of the experience economy?
• [09:03] The key customer experience changes that must be made by MedTech companies.
• [11:25] How do organizations adapt to the generational differences in its workforce? How do they keep these different generations engaged?
• [14:43] The role played by data and insights in driving both customer and employee experiences.
• [17:39] The challenges organizations face in collecting, analyzing and using data to drive experiences.
• [19:50] How must leaders adapt in this environment? Does there need to be a change in their mindset.

Key Takeaways:

• The internal and external work environment has changed drastically, driven by key areas: generational demographic shifts, COVID which has made our virtual worlds come alive, and rapidly changing buyer and employee preferences.
• Business demands and needs are shifting. Commercial teams need to have the data to understand the market and organizational performance. Customer and employee experiences need to be measured and addressed because implications are significant.
• Today’s organization needs to have a transformation mindset. Specifically, about how to adapt to environmental and market changes and how to empower teams to adapt to the external changes around them.