Boston – Nov. 30, 2011 – Global brand experience agency Jack Morton Worldwide today published new research proving the power of experience brands. The research was conducted among more than 1,600 consumers in the US, UK, Asia and Australia.
This research strongly endorses the view that the brands that will lead in the 21st century will be experience brands—that is, brands that invest in building and improving how people experience and interact with them, as a point of differentiation from competitors and a reason for consumers to become customers and advocates.
- 80% of consumers agree (60% strongly) that overall experience with a brand is the single biggest factor in determining future purchase
- 78% of consumers agree (44% strongly) that they would pay a premium for a brand that offers a unique experience
- However, just 26% said their past brand experiences have been extremely/very unique—suggesting a tremendous opportunity for companies to differentiate from competitors and elevate their brand experience.
As part of the Best Experience Brands study, consumers were asked to rank the influence of a variety of factors on how they experience brands. The top “experience drivers”—which vary by industry, geography and consumer demographics—provide insights into how brands can adjust to create a more unique and more successful experience. Experience drivers range from the functional (“products and services that meet my needs”) to the more emotional (“continues to serve and engage me after I’ve become a customer”).
According to Jack Morton's Chairman and CEO, Josh McCall, "Our goal with this study is to help clients understand how they can become an experience brand, or be a better one.” He continued: “Today more than ever, consumers are bombarded with choices and options—so investing in a unique experience is one of the most important things brands can do to stand out, drive awareness and create customer advocacy. As technology and globalization makes markets even more crowded and competitive, experience brands are going to become even more important.”
Jack Morton works with leading clients like GM, Dell and SUBWAY restaurants to help them build strong experience brands. The agency published the research in the form of a white paper that is available to read online on the agency’s Slideshare channel or on its website. Best Experience Brands is based on a survey sponsored by Jack Morton Worldwide and conducted by KRC Research between August 22 and September 2, 2011. Additional insights from the Best Experience Brands study will be released at a future date or may be requested by contacting Jack Morton.