Niko­lay Mal­yarov

EVP, Chief Con­tent Of­fi­cer and Gen­eral Coun­sel

The Insider - - EDITORS -

I never re­ally liked re­ceiv­ing gifts, es­pe­cially phys­i­cal ones. I would rather be the giver rather than the re­ceiver and I would much pre­fer the gift to be ex­pe­ri­en­tial.

As I’ve grown older, I’ve come to ap­pre­ci­ate that the most pre­cious gift one can re­ceive is the gift of time. Time is a pre­cious com­mod­ity be­cause a) we never have enough of it, and b) we face too much in­for­ma­tion on a daily ba­sis that wastes our time and de­tracts us from do­ing what we want to do — what we need to do.

The other thing I like to do is to sur­prise peo­ple. I'll never for­get when I flew to my home­town to sur­prise my grand­mother on her 75th birth­day. The re­ac­tion that she had, and the plea­sure that I got from see­ing her so ex­cited is some­thing that I can vividly re­mem­ber and that was 20 years ago.

Th­ese un­ex­pected sur­prises and de­lights al­most el­e­vate your per­cep­tion of the gift that you are re­ceiv­ing. And those ex­pe­ri­ences stay with you.

We have so many things avail­able to us to­day. We live in a glob­al­ized, in­ter­con­nected world that al­lows us to buy just about any­thing from any­where. When it comes to com­merce, the planet is truly bor­der­less.

But in our con­sumeris­tic so­ci­ety, ex­pe­ri­ences which are not ma­te­rial in form be­come more ma­te­rial in our ap­pre­ci­a­tion of them, be­cause they are things that money can't buy — whether it's go­ing to an exclusive event, scal­ing a moun­tain for the first time, or just meet­ing some­one re­mark­able. In fact, ex­pe­ri­ences have be­come a new cur­rency. So, this is­sue is all about EXP.

Although, tech­ni­cally, events and ad­ven­tures are tan­gi­ble goods, they come with the un­ex­pected. No two peo­ple ex­pe­ri­ence the same hap­pen­ing the same way. It’s like ev­ery ex­pe­ri­ence is made just for you — be it from a friend, through a busi­ness, or from pub­lisher.

In this me- first world, busi­nesses and brands that un­der­stand this in­di­vid­u­al­ity are in­cor­po­rat­ing it into their cul­ture and de­ci­sion-mak­ing pro­cesses. They're not look­ing to foster loy­alty through ma­te­rial goods. They are be­ing cre­ative in how they en­gage with the mes of the world, so they can pro­vide a much more per­son­al­ized ex­pe­ri­ence to their cus­tomers.

All th­ese unique ex­pe­ri­ences lead to a deeper loy­alty for that brand. Not only do I un­der­stand and ap­pre­ci­ate that they know me, and re­ally get what I am all about, they give me the gift of time — an ex­pe­ri­en­tial gift which makes the most of this pre­cious com­mod­ity — a gift that I will re­mem­ber and value long af­ter the ex­pe­ri­ence is over.

In this is­sue of The In­sider, we’ll dig deeper into what a num­ber of ho­tel, air­line, and pub­lish­ing brands are do­ing to serve so­ci­ety’s grow­ing de­sire for ex­pe­ri­ences over things — such as Cathay Pa­cific’s

Marco Polo Artmap pro­gram and Fi­nan­cial Times’ The Fu­ture of Bri­tain ini­tia­tive.

This is a very special is­sue for me be­cause ev­ery sin­gle ar­ti­cle in it is one in which I have a per­sonal con­nec­tion. Not only have I worked in both the travel and pub­lish­ing in­dus­tries, I’m an avid reader of me­dia, a fre­quent flyer that has trav­eled the world, and a wel­comed guest in hun­dreds of ho­tels.

I’ve been at the re­ceiv­ing end of many unique and mem­o­rable ex­pe­ri­ences from all of th­ese in­dus­tries — per­haps more than my fair share. So I think it’s time to ded­i­cate an is­sue to power of ex­pe­ri­ence and the econ­omy that is mak­ing peo­ple’s time and lives more ful­fill­ing. I hope you en­joy it.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.