Unlocking Opportunity at the Intersection of Brand and Customer Experience
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Transcript of Unlocking Opportunity at the Intersection of Brand and Customer Experience
Unlocking Opportunity
at the Intersection of Brand and Customer
Experience
September 14, 2009
Kevin Perlmutter Senior Director, Brand Strategy
Why should we care about brand?
2 | Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009
High Quality Coffee Excellent Flavor
Non-branded
High Quality Coffee Excellent Flavor
Branded Price Premium
$1.00 $3.00
Strong brands drive awareness, stimulate demand and positively impact earnings
84% of companies don’t know the cost of a customer complaint
65% don’t know the length of an average customer relationship
Source: Stativity Group
3 | Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009
Customer experience is impacting the behavior of potential customers
| Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009 5
“Waiter, there’s a fly in my soup (and I have an iPhone).”New York Times Headline, 9/2/09
Engagement in social media correlates to financial performance
Brands engaging
communities through social
media grew revenues by 18%,
those that didn’t
sunk 6%
Sources: ENGAGEMENTdb: The World’s Most Valuable Brands. Who’s most engaged? July 2009 & “New Study Finds Correlation Between Social Media and Financial Success”, Sarah Perez, Read Write Web
Top 10 Brands Engaged in Social Media
1.Starbucks
2.Dell
3.eBay
4.Google
5.Microsoft
6.Thomson Reuters
7.Nike
8.Amazon
9.SAP
10.Tie – Yahoo/Intel
6 | Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009
Our role is to improve the quality of the relationships that
people have with our brands to improve business performance.
7 | Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009
A relationship is…
The way in which two or more people or organizations regard
and behave toward each other.
8 | Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009
Bad Relationships Great Relationships
1. I want to spend less
time with you
2. I prefer to see other
people
3. I want to tell everyone
I don’t like you
1. I want to spend more
time with you
2. I want to be devoted
to you
3. I want to tell everyone
you’re great
In human relationships there is a correlation of relationship quality and behavior
9 | Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009
Brand relationships work the same way
Customer experience affects the bottom line
10 | Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009
Customer experience impact revenue
Average impact of a 10% improvement in Forrester’s Customer Experience Index for a $10 billion company.
Customer experience affects the bottom line
11 | Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009
Strong brands drive choice, loyalty and value
Higher level of earnings
Brand influences customer’s choice
Value
Role of Brand
Brand is a key competitive asset
Higher security of future earnings
Brand Strength
12 | Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009
Opportunity does exist at the intersection of Brand and Customer Experience
Brand Evolution
Customer Experience Analysis
13 | Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009
It’s an ongoing loop of needs analysis and fulfillment, just like any good relationship.
Focus Area #1: How does your brand work today?
Brand Evolution
Customer Experience Analysis
14 | Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009
How well is your brand aligned with the drivers of choice?
To unlock opportunity, we need to analyze the customer journey
15 | Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009
How People Engage How People Buy How People Commit
Passively
aware
Relevance
trigger-
need/want
Evaluating
options
Selecting Deciding
where
to buy
Shopping Confirming
Decision
Buying Activating Using Committing Advocating
What are the key drivers, pain points, experience enhancers and experience gaps?
What is the quality of the relationship?
16 | Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009
Touchpoint Usage
Messages
Decision Process
17
How can the experience be better?
Continue: What positive things should we continue doing
Stop: What experience detractors should we stop doing
Start: What new things should we start doing
How People Engage How People Commit How People Buy
17 | Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009
How can your brand work better?
| Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009 18
How People Engage How People Buy How People Commit
Business Performance
Brand Strategy
Passively
aware
Relevance
trigger-
need/want
Evaluating
options
Selecting Deciding
where
to buy
Shopping Confirming
Decision
Buying Activating Using Committing Advocating
Focus Area #2: Created branded customer experiences
| Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009 19
Brand Evolution
Customer Experience Analysis
What follows are 5 opportunities to improve the experience and evolve the brand
Eliminate pain points
1.
Understanding and eliminating pain points
| Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009 21
Link the brand to a top driver
2.
My Deals Ordering Ink & Toner My Rewards Easy Solutions
My Deals Ordering Ink & Toner My Rewards Easy Solutions Staples delivers on its promise of Easy. The Easy Button desktop application has become a huge success with small business – tens of thousands have been downloaded yielding tremendous loyalty and repeat usage. Source: Klipfolio
Create Hero Products or
Services
3. Westin Heavenly Bed
Westin drives demand for the Heavenly offering inside and outside the hotel. They have sold about 30,000 full Heavenly Beds, 100,000 pillows and 32,000 sheet sets for home use. Nordstrom alone has sold $20 million worth of Heavenly Beds. Source: USA Today, 5/14/09
Innovation
4.
Within 4 years of launch, Dyson became the fastest selling vacuum in the UK, and overtook Hoover’s category leading market share in the US going from 0% to 20.7%. Source: NPD
Redefine the category
experience
5.
Mini has an incredibly loyal following thanks to a highly desirable end-to-end customer experience. Despite a down economy, US sales grew 29% in the 2008 to 54,000 – more than double 2002. Source: Business Week, 9/1/09
Brand is an evolving relationship and a driver of business performance
| Unlocking Opportunity at the Intersection of Brand and Customer Experience | September 14, 2009 34
1. Distinctive and Engaging Promise
2. Fulfilling Brand
Experience
3. Customer-centric
Evolution
Brand Evolution
Customer Experience Analysis