Download exclusive e-book on brand building in the experience economy
At the turn of the Millenium, the biggest brands in the world included Dell, MTV and Barbie. Today, those that survived can’t squeak into the top 100 after being swatted aside by the likes of Apple, Spotify and Netflix.
It’s a reminder of how – in a world of endless tech disruption – customers are willing to abandon what they know in favour of businesses which prioritise delivering great user experiences.
There’s no denying in 2019, the experience economy is king.
To help businesses of all sizes succeed in this era of business, the leader in experience management, Qualtrics, has produced a free e-book called Growing Your Brand in the Experience Age.
To download your copy, simply fill out the form at the bottom of the page, hit submit, and click the link on the page you’re directed to.
In the experience economy, companies face a new generation of consumers who have more options to choose from than ever before. New brands are constantly coming to market offering unique products and services to challenges and desires consumers didn’t even know they had.
Such is the impact of this new economy, research by growth strategy consultants Innosight estimates three-quarters of today’s S&P 500 will be replaced in 2027.
Meanwhile, brand reputation – the old-fashioned definition of brand – is increasingly influenced by factors outside marketers’ control, such as product development and employee experience.
Brands are under unprecedented pressure to stand out from the crowd and to innovate at speed and scale.
All of which means a new approach to brand growth is required – one used by recent success stories such as Dollar Shave Club, Deliveroo, WeWork and Peloton.
Take Indonesia-borne ride-hailing app Gojek. The business has enjoyed extraordinary growth since its foundation in 2010 – now operating in 204 cities across Southeast Asia and valued at more than $12.46m.
The brand puts its success down to delivering a great employee and customer experience. The company leaves no stone unturned, from how consumers research and engage through the app through to their overall satisfaction.
This strategy has given Gojek an enormous advantage over rivals in a now extremely competitive field.
Gojek does this by constantly analysing the opinions, beliefs and sentiments of both customers and employees.
“In today’s economies, markets change fast. Gojek is unlocking consumer preferences hidden among a plethora of data sets, and rapidly acting upon them to capitalise on market opportunities,” said Evan Williams, senior vice president and group head of research and insights at Gojek.
“Market research is essential when we launch Gojek in new markets, and respond to emerging competitors in the region too,” added Williams.
In order to grow a brand, then, companies must increasingly fulfil a role in people’s lives, make it relevant and deliver on it brilliantly and consistently.
They must also remember four basic principles:
Purpose – Fulfilling a consumer need.
Consistency – Maintaining a high standard.
Differentiation – Invest in campaigns that separate you from the pack.
Resonance – Delivering on purpose.
To download your copy, simply fill out the form below, hit submit, and click the link on the page you’re directed to.
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