Why measuring experience is key to building brand value
Brands have never been a more significant part of our personal and economic landscape. Understanding the real value they bring to customers and to business is even more important
Most industry experts observe that the way consumers value and experience brands has changed radically in the past ten years, but few, if any, offer a coherent systematic approach to measuring how.
In the early days of brands, we had blind and branded testing to guide us. Nothing was clearer than the customer's willingness to pay more for one branded product than another. The greater the differential, the stronger the brand – simple.
The IPA's effectiveness studies have proven the economic value of the long-term emotional affinity between a customer and a brand, but now the conceptual challenge of branding and the measurement challenge have moved on again because of new technology.