Enhancing brand value with improved CX and BX

    Cx and BX Enhancing brand value with improved CX and BX

    CMOs believe that brand experience is equally vital as customer experience, when building a strong brand image

    The world over, best known brands and enterprises say that the brands can strengthen the connection between their customer and brand experience, by keeping the promises they make. Maximizing brand value is possible through a happy common ground of customer experience and brand experience. To stay in the marketplace memory, organizations need to continue making and keeping up relevant promises to attract and retain customers.

    Client feedback is a result of the promise that transforms into the experience and finally, the perception. When an enterprise promises its clients something, they naturally form a perception about the service. Now, based on the perception, clients and potential clients have certain expectations from the brand. Then the clients get to experience the brand via customer experience. As a result, the expectations may be reset depending on the experience, and this method continues in a cycle.

    When an organization delivers a bad experience, it ends up under-delivering on the said promise. A lousy experience virtually affects a good promise. The bad experience that broke promises has a direct effect on client retention.

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    On the other side, an organization with bad promises will be starved of good experience. This can be explained as a brand delivering a good experience to only those clients who are directly affected by it. Thus brands must provide experiences that match the perception created by them.

    The key reason why acquisition pipelines of organizations dry up is a bad experience as against the promise. When brand and customer experience is disconnected, the acquisition is affected. In turn, it affects retention, which has a direct effect on the financial value of an organization.

    The combination of brand and customer experience passes through four stages. The first is all about ensuring that brand strategy flows through a customer experience strategy. The second refers to the enablement measures required to convert brand promise to reality, and thereafter, to develop structure and promoting an effective organizational structure that is built to ensure delivery. Fourth and last is ensuring and measurement of brand measurement alignment with CX measurement.

    A better impact is created when substantial brand value and good CX is bought together to drive value, rather than having only one of the strategies delivering on its promise.

    Aligning Brand and Customer Experience

    Strategy plays the most important role among the four factors required to align CX and BX for maximum growth and impact effectively. It helps to highlight the brand purpose and clearly define the potential brand promise.

    The brand is a major reason for an enterprise’s existence. For example, Google exists to organize every documented individual’s information, Netflix to entertain people, etc.; these are clear examples of brand promises.

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    To deliver the said promises, the organization as a whole has to work towards it. Brand purpose needs to be understood and bought to life. Strategies need to be built while keeping in mind emotional benefits to be provided via BX and CX.

    CMOs acknowledge that branding is a complicated and challenging job, and so is customer experience. Hard work and ensuring that BX is tightly interlinked with CX is the best way to achieve success.