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Leaders in customer experience keep their promises

Leaders in customer experience keep their promises

Barbara Thym

Managing Director, Insights Division

Kantar, Germany

Barbara.Thym@kantar.com

 

Dr. Alexander Spatz

Managing Director, Insights Division

Kantar, Germany

Alexander.Spatz@kantar.com

 

Dr. Peter Pirner

Domain Lead Customer Experience, Insights Division

Kantar, Germany

Peter.Pirner@kantar.com

There is a direct link between the experience a consumer has of a brand, and a brand’s value. BrandZ analysis shows that brands out-performing the average for “working better” or being “well designed” grew their brand value between 2006 and 2018 by an average of 247 percent, while under-performers on these measures grew their average value by only 27 percent.  

Leading brands also align a great experience with what the brand stands for. Applying the Kantar CX+ (consumer experience) framework, we have looked at over 100 retail banks in Europe and the US, to understand how a gap between brand promise and delivery impacts on customer preference. For those banks with a negative gap – meaning they are either underdelivering or promising more than people feel they get – average preference scores are just 32. This is extremely low and likely to have a negative impact on market share. Those banks with a more positive gap rate better, at around 50.

Kantar will publish a ranking of the CX leaders in German retail banking together with this year’s BrandZ results. Further insights will be presented in the forthcoming “Experience Advantage Report”.