OgilvyOne Viewpoint #11 - Growing by experience
What do Virgin Atlantic, Nike and Apple all have in common? They offer customers memorable and relevant experiences, and are rewarded with greater loyalty.
"EIGHTY-ONE PERCENT OF Americans say past experience with a brand is the most important factor in a purchase decision. The importance of the experience grows with customer affluence as they can afford more options."1
Experience brands such as Virgin Atlantic, Williams-Sonoma, Nike, Apple, Target, Netflix and Tesco understood early on that consumers are seeking better experiences and are willing to pay for them. They realized a category pain point, or unmet need, and set about to meet it. They have succeeded by creating a world their target audiences want to live in - and can live in and "own." Experience brands create advocates that provide forward momentum for the brand.