Winning in the era of brand experience

This article is part of a series of articles on winning in the era of brand experience. Read more.

Definition

Brand experiences (BX) are carefully sequenced, synchronized and selected touch points that combine to emotionally engage stakeholders as they progress through their entire journey with your brand.[1]

Where to start

CMOs can have a tough time selling the brand experience business case into the c-suite. It’s hard to convince potentially skeptical CEO’s and CFO’s there’s money to be made by competing through brand experiences. The following points aim to give you a helping hand, brand experiences can:

  • Drive brand performance. This includes revenue [2], brand awareness and associations[3], advocacy[4], perceived quality[5], reputation[6], satisfaction[7] and loyalty[8].
  • Bring people more enduring happiness than possessions. Experiential purchases make people happier than material purchases [9] [10] whilst waiting for an experience is more enjoyable than waiting to receive a possession[11].
  • Provide almost unlimited sources of differentiation. Many moons ago brands tried to differentiate through physical product features. For example, banks focused on interest rates, number of ATMs and credit card design. This strategy is problematic because once you’ve used all those features you commoditise your offer. And then the only competitive route is price.