Customer experience can make or break a brand. In today’s hyper-connected world, brand value isn’t defined by only marketing and advertising. Customer experience now plays a large role in defining a brand. So much so that experts have come up with a new term to explain it- Brand Experience.
What is Brand Experience?
Brand experience is the sum of all interactions (social media, ads, ease of use, support interactions, product features) that customers have with a brand over time. In fact, it is about creating emotional and meaningful relationships with customers.
While marketing and advertising play great roles in designing these encounters, it is CX that cements these relationship.
Think about it.
People don’t think of ads, social media marketing, user experience, and customer support are disparate elements of a brand.
They experience them all together. People combine EVERY piece of information and all encounters while making their minds about a brand.
Relationship between BX and CX
Blake Morgan defines CX as,
“Customer experience considers everything the customer goes through—it’s everything the customer touches, tastes, smells, hears, sees throughout the experience with the brand. What are they going to feel or think? It’s being almost obsessive about the experience the customer has with the brand- the attitude of ‘I want to be here,’ rather than ‘I have to be here.”
Which means, BX is inevitably a huge part of delivering great CX.
Everyone knows that customer frustration or mistrust leads to churn. Case in point, PwC surveyed 15,000 consumers for their ‘Future of CX’ report and discovered this.
“1 in 3 customers will leave a brand they love after just one bad experience. 92% would completely abandon a company after 2 or 3 negative interactions.”
Think of all the money spent on advertising and branding. One bad experience can lay waste to that the time and resources spent on building a brand.
Brand experience is inarguably important. BX management includes-
- Monitoring your brand perception in real-time,
- Tracking the impact of touchpoints on brand value
- Understanding the competitive landscape, and
- Optimizing high ROI attributes.
A great brand experience produces brand loyalists and induces steady and organic growth.
Interested in taking your brand to new heights? Contact us to do the heavy-lifting for you.