Forrester's Brand And Customer Experience Together Power Growth research report reveals the importance of aligning a strong brand experience (BX) and customer experience (CX) to drive business growth.
"Our research finds that brand experience and customer experience are two sides of the same coin," said Sharyn Leaver, chief research officer at Forrester. "As a result, companies must invest in improving both these elements simultaneously.
Recommendations
Forrester recommends that organisations use BX and CX indices to capture market share and increase revenue.
Forrester's new Brand Experience Index (BX Index) measures prospects' and customers' perceptions of a brand. It also measures the effectiveness of companies' efforts to leverage their brand to capture customers.
Forrester's Customer Experience Index (CX Index) measures customers' perceptions of an experience and a company's success in delivering customer experiences that create and sustain loyalty.
"Forrester's new BX Index and growth grid are designed to help companies recognise the duality between BX and CX. These also enable firms to effectively measure both to fuel actionable growth and create a strategy that addresses the real-time needs of both customers and prospects," said Leaver.
Growth grid
Forrester captures the interplay between BX and CX in a "growth grid," a snapshot of a company's success at its CX and BX initiatives.
The growth grids, by providing a comprehensive view of the competitive landscape, can empower companies to make strategic decisions, evaluate the strength of different lines of business, and compare different brands within a portfolio.
