A positive brand experience has a direct impact on brand loyalty. Positive experiences improve an audience’s perceived quality of a brand as well as its trust in a brand – two factors that are essential for brand loyalty.
The brand experience is the sum of all the perceptions, impressions, feelings, and thoughts an individual or audience has about a company’s brand. Rather than a specific experience with the brand on a certain channel, brand experience is the lasting impression that remains after a variety of brand interactions. These include everything from learning about a brand through advertising and social media to purchasing or using branded products and services and interacting with a brand’s customer service teams.
What is brand loyalty?
Brand loyalty is the positive feeling customers have toward a brand that causes them to continue purchasing products and services from the brand, even despite better offers on similar products or greater convenience offered by competitors.
Why is brand loyalty important?
Loyal customers mean greater revenue. Customers who are loyal to a brand consistently purchase products and services and are more likely to recommend a brand to family and friends, who may also become customers. Since acquiring new customers is more expensive than retaining current customers, brand loyalty also impacts the bottom line by helping to save money.
Does brand experience affect business performance?
Studies show that consumers are more likely to buy products and services and remain loyal to companies that deliver an exceptional brand experience. As a result, brand experience has a direct impact on revenue and business performance.
What makes a great brand experience?
Several factors contribute to a great brand experience. A company’s brand marketing, advertising, communications, and design help boost brand awareness and create positive feelings toward a brand. The responsiveness of sales associates and customer service agents plays a big role in improving brand experience. The personality and values of a brand help build a strong affinity with audiences. And the way that businesses relate to consumers when mistakes or crises occur can either enhance the brand experience or drive customers away.
The brand experience is concerned with communicating a promise to all consumers – customers as well as prospects and the general public – about what to expect when engaging with the brand. The customer experience is about delivering on those promises for people who choose to become customers. The customer experience is narrowly focused on a customer’s experience as they purchase, consume, and use a product or service. The brand experience is much broader – it includes the customer experience but also the user experience, marketing experience, and the brand’s identity and values.
How do companies improve brand experience?
Improving brand experience requires businesses to understand all the ways and places that consumers engage with a brand, what they want from each interaction, and where the business is succeeding or failing to meet those expectations. By identifying the factors that contribute to a negative experience, businesses can take action to refine messaging, optimize processes, train employees, personalize communications, and interact with audiences more effectively. To automate this process, businesses need technology to measure brand experience, automate brand monitoring, and analyze brand sentiment.
Traditionally, businesses have measured brand experience by conducting surveys, holding focus groups, monitoring social media channels, and manually reviewing recordings of calls between customers and contact center agents. While these methods offer some value, they provide only a limited picture of brand experience. Focus groups capture the opinions of a minute audience. While surveys tend to have very small response rates, they represent a slightly larger audience when conducted at scale. However, most people responding to surveys are motivated by strong positive or negative opinions, baking a certain level of bias into results. Social media monitoring captures a much broader audience, but comments and posts on social sites are also dominated by customers with an ax to grind. And while manual reviews of call recordings can capture more unbiased and unsolicited feedback, the process is extraordinarily time-consuming and returns results weeks or months after the fact. To gain a fuller picture of brand experience, many organizations are adopting solutions built on conversation intelligence technology.
Conversation intelligence uses speech and text analytics to automatically capture and analyze conversations with customers across every channel: calls, social media, email, chat, SMS text, websites, surveys, and more. Conversation intelligence technology uses natural language processing (NLP) to understand what a consumer says, and acoustic and other metrics to determine the emotion that drives sentiment, choices, and behavior. By capturing every conversation rather than just a small fraction, conversation intelligence provides a much more comprehensive and accurate understanding of brand experience and what businesses can do to improve it.
How does CallMiner help measure brand experience?
As the global leader in conversation intelligence technology, CallMiner offers the industry’s most comprehensive solution for analyzing omnichannel customer interactions at scale. The CallMiner Eureka platform uses AI and machine learning to capture and analyze 100% of customer interactions across all channels. CallMiner analyzes conversations at the deepest level, spotting patterns, interpreting nuance, and uncovering root causes to reveal actionable insights into the brand experience.