Forrester Introduces Brand Experience Index To Measure The Interconnectedness Between Brand And Customer Experience
Forrester (FORR) has introduced its new Brand Experience Index (BX Index) alongside its existing Customer Experience Index (CX Index™) to help companies measure and improve both brand and customer experience simultaneously. The company's research reveals that firms can achieve up to 3.5x revenue growth when brand experience and customer experience are enhanced together.
The BX Index measures three key components: salience, fit, and trust, while the CX Index evaluates ease, effectiveness, and emotion. Forrester analyzed data from over 313,000 customers and 145,000 prospects across 13 countries and nearly 400 brands in 11 categories. The company introduced a 'growth grid' tool that helps organizations assess competitive landscapes, evaluate business line strengths, and compare different brands within portfolios.
Forrester (FORR) ha lanciato il suo nuovo Brand Experience Index (BX Index) insieme all'esistente Customer Experience Index (CX Index™) per aiutare le aziende a misurare e migliorare simultaneamente sia l'esperienza del marchio che quella del cliente. La ricerca dell'azienda rivela che le imprese possono ottenere fino a 3,5 volte la crescita del fatturato quando l'esperienza del marchio e l'esperienza del cliente vengono potenziate insieme.
Il BX Index misura tre componenti chiave: salienza, aderenza e fiducia, mentre il CX Index valuta facilità, efficacia ed emozione. Forrester ha analizzato i dati di oltre 313.000 clienti e 145.000 potenziali clienti in 13 paesi e quasi 400 marchi in 11 categorie. L'azienda ha introdotto uno strumento chiamato 'growth grid' che aiuta le organizzazioni a valutare i panorami competitivi, analizzare i punti di forza delle linee di business e confrontare diversi marchi all'interno dei portafogli.
Forrester (FORR) ha presentado su nuevo Brand Experience Index (BX Index) junto con su existente Customer Experience Index (CX Index™) para ayudar a las empresas a medir y mejorar simultáneamente tanto la experiencia de la marca como la experiencia del cliente. La investigación de la compañía revela que las empresas pueden lograr hasta 3,5 veces de crecimiento en los ingresos cuando se mejora conjuntamente la experiencia de marca y la experiencia del cliente.
El BX Index mide tres componentes clave: saliencia, adecuación y confianza, mientras que el CX Index evalúa facilidad, efectividad y emoción. Forrester analizó datos de más de 313,000 clientes y 145,000 prospectos en 13 países y casi 400 marcas en 11 categorías. La empresa introdujo una herramienta llamada 'growth grid' que ayuda a las organizaciones a evaluar los paisajes competitivos, analizar las fortalezas de las líneas de negocio y comparar diferentes marcas dentro de las carteras.
Forrester (FORR)는 기존의 Customer Experience Index (CX Index™)와 함께 새로운 Brand Experience Index (BX Index)를 도입하여 기업들이 브랜드 경험과 고객 경험을 동시에 측정하고 개선할 수 있도록 돕고 있습니다. 회사의 연구에 따르면, 브랜드 경험과 고객 경험을 함께 향상시키면 3.5배의 수익 성장을 달성할 수 있다고 합니다.
BX Index는 세 가지 주요 구성 요소인 주목성, 적합성 및 신뢰를 측정하며, CX Index는 용이성, 효과성 및 감정을 평가합니다. Forrester는 13개국에서 거의 400개 브랜드와 함께 313,000명 이상의 고객과 145,000명의 잠재 고객의 데이터를 분석했습니다. 이 회사는 경쟁 환경을 평가하고, 비즈니스 라인의 강점을 분석하며, 포트폴리오 내 다양한 브랜드를 비교하는 데 도움이 되는 'growth grid' 도구를 도입했습니다.
Forrester (FORR) a introduit son nouvel Index de l'Expérience de Marque (BX Index) aux côtés de son Customer Experience Index (CX Index™) existant pour aider les entreprises à mesurer et à améliorer simultanément l'expérience de marque et l'expérience client. La recherche de l'entreprise révèle que les entreprises peuvent réaliser jusqu'à 3,5 fois de croissance de revenus lorsque l'expérience de marque et l'expérience client sont améliorées ensemble.
L'Index BX mesure trois composants clés : saillance, adéquation et confiance, tandis que l'Index CX évalue la facilité, l'efficacité et l'émotion. Forrester a analysé des données de plus de 313 000 clients et 145 000 prospects dans 13 pays et près de 400 marques dans 11 catégories. L'entreprise a introduit un outil appelé 'growth grid' qui aide les organisations à évaluer les paysages concurrentiels, à analyser les forces des lignes d'affaires et à comparer différentes marques au sein des portefeuilles.
Forrester (FORR) hat seinen neuen Brand Experience Index (BX Index) zusammen mit dem bestehenden Customer Experience Index (CX Index™) eingeführt, um Unternehmen dabei zu helfen, sowohl die Marken- als auch die Kundenerfahrung gleichzeitig zu messen und zu verbessern. Die Forschung des Unternehmens zeigt, dass Firmen bis zu 3,5-maliges Umsatzwachstum erzielen können, wenn die Marken- und Kundenerfahrung gemeinsam verbessert werden.
Der BX Index misst drei Hauptkomponenten: Auffälligkeit, Passform und Vertrauen, während der CX Index Einfachheit, Effektivität und Emotion bewertet. Forrester analysierte Daten von über 313.000 Kunden und 145.000 Interessenten aus 13 Ländern und fast 400 Marken in 11 Kategorien. Das Unternehmen stellte ein Tool namens 'growth grid' vor, das Organisationen hilft, Wettbewerbslandschaften zu bewerten, die Stärken von Geschäftsbereichen zu analysieren und verschiedene Marken innerhalb von Portfolios zu vergleichen.
- Introduction of new Brand Experience Index (BX Index) enhancing measurement capabilities
- Companies can achieve 3.5x revenue growth when improving BX and CX together
- Comprehensive data analysis covering 313,000 customers and 145,000 prospects
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Insights
The introduction of Forrester's Brand Experience Index (BX Index) represents a paradigm shift in measuring customer-brand relationships. The research, analyzing data from 313,000 customers and 145,000 prospects across 13 countries, reveals companies can achieve up to
The growth grid methodology, combining BX and CX metrics, provides unprecedented competitive intelligence. For instance, the analysis of DBS Bank's market leadership in Singapore versus Standard Chartered and Maybank's struggles offers actionable insights for financial institutions. Similarly, the comparative analysis of Hilton and Marriott's brand portfolios demonstrates how multi-brand companies can leverage cross-portfolio learnings to optimize performance.
The dual-index approach addresses a critical gap in traditional market analysis by measuring both prospect acquisition (BX) and customer retention (CX). This holistic framework enables companies to make data-driven decisions about resource allocation between brand building and customer experience enhancement.
For Forrester (FORR), with a market cap of
The methodology's application to financial services, demonstrated through the Wells Fargo and PNC analysis, highlights strong market potential in the banking sector. The ability to identify growth opportunities through cross-selling and brand portfolio optimization represents significant value for enterprise clients, potentially expanding Forrester's addressable market and average contract value.
The timing of this launch aligns with increasing corporate focus on customer-centric strategies and data-driven decision making, positioning Forrester to capture growing demand for quantitative brand and customer experience metrics.
When brand experience and customer experience are improved together, firms can achieve up to 3.5x revenue growth and drive higher customer retention and loyalty
Forrester recommends that brands looking to capture market share and drive revenue growth use two indices in tandem:
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Forrester’s new Brand Experience Index (BX Index), which measures prospects’ and customers’ perceptions of a brand. Unveiled today, this index measures how effectively companies leverage their brand to win and retain customers and is based on three components: salience, fit, and trust.
- Forrester’s Customer Experience Index (CX Index™), which measures customers’ perceptions of an experience and how successfully a company delivers customer experiences that create and sustain loyalty. This index is calculated based on three components of CX quality: ease, effectiveness, and emotion.
The interplay between BX and CX is further captured in a “growth grid,” Forrester’s snapshot of how successful a company is at both winning and retaining customers and how it stacks up against its peers — each a critical component to driving an organization’s growth. In creating growth grids, Forrester analyzed data from more than 313,000 customers and 145,000 prospects in 13 countries and from nearly 400 brands across 11 categories, including financial services, airlines, and retail. Firms can use the growth grid as both a diagnostic and prescriptive tool to shape their brand and business strategy by:
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Assessing the competitive landscape. Brands can use the growth grid to understand how they stack up against their peers. For example, in
Singapore , DBS Bank leads the competitive banking landscape with the largest market share and branch presence. Standard Chartered and Maybank, however, struggle to win, serve, or retain customers compared with their peers.
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Evaluating the strength of different lines of business. Not every line of business is an equal brand ambassador for the company. For example, Wells Fargo’s banking and credit card lines are remarkably proximate, but PNC’s credit cards are more compelling to prospects than Wells Fargo’s. As a result, converting credit card customers into banking customers is an important avenue for PNC to drive sustained growth.
- Comparing different brands within a portfolio. Multiband portfolios can occupy very different positions on the growth grid. For example, many of Hilton’s portfolio brands are better situated than Marriott’s similarly positioned lower-end brands, such as Residence Inn, Fairfield Inn, and Courtyard. Multibrand companies can use the growth grid to identify leaders and laggards within the portfolio and cross-pollinate best practices that transcend individual brands.
“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. Forrester’s new BX Index and growth grid are designed to help companies recognize the duality between BX and CX. These also enable firms to effectively measure both to fuel actionable growth and create strategy that addresses the real-time needs of both customers and prospects.”
Resources:
- Discover more about Forrester’s Brand Experience Index and how it sets the stage to measure the interplay of brand experience and customer experience.
- Read Forrester’s report, Brand And Customer Experience Together Power Growth, to learn how the duality of BX and CX can help companies drive growth (client access required).
About Forrester
Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We empower leaders in technology, customer experience, digital, marketing, sales, and product functions to be bold at work and accelerate growth through customer obsession. Our unique research and continuous guidance model helps executives and their teams achieve their initiatives and outcomes faster and with confidence. To learn more, visit Forrester.com.
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Amanda Chordas
achordas@forrester.com
Source: Forrester
FAQ
What is Forrester's new Brand Experience Index (BX Index) and how does it work?
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