The importance of brand experience It’s only relatively recently that people have begun to use the term ‘brand experience’ (BX) to talk about how a brand lives across all of the touchpoints that customers interact. Not only does brand experience impact how a customer feels about a brand, but it also has a significant financial impact on customer spend, loyalty and recommendations.Our research shows that top performing BX brands command 79% higher purchase intent and an average of 45 Net Promoter Score points than the lowest performing. Despite the clear business impact of having extraordinary BX, organisations continue to struggle to deliver consistent, connected and meaningful brand experiences. The need for an overall measurement for brand experience Mona Bhatnagar It’s critical to basing brand experience strategies on clear insight and measurement.
For years, we used many of the traditional insight and measurement tools such as brand tracking, CSAT and NPS. However, we constantly found it frustrating that no overall measurement existed for brand experience. We knew that understanding this would help us identify moments across the entire customer journey where it’s most important for a brand to exceed customer expectations. It would allow brands to create roadmaps for where to concentrate their effort, as part of the journey to constantly improve experience across the board. That’s why we developed the Brand Experience Index (BXi), to fill this gap. It finally gives us an overall measurement for brand experience, something that has been to date virtually impossible to extract. How the BXi works The BXi has identified five core facets of brand experience that have a direct impact on customer loyalty. These include; ‘think’, which refers to a brand’s ability to communicate its purpose; ‘sense’, where a brand engages customers through the five senses using immersive experiences; ‘feel’, which involves […]
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