Qualtrics Introduces Brand Impact Simulator to Help Build Brands that Attract and Engage New Customers

Rhea-AI Summary

Qualtrics (Nasdaq: XM) has launched the Brand Impact Simulator, a self-service tool aimed at helping brands understand which attributes most influence customer acquisition. This tool allows organizations to prioritize attributes that resonate with consumers, improving marketing effectiveness. Research shows that only 34% of brands resonate with potential customers. The simulator can help brands simulate brand scenarios based on consumer feedback, optimize marketing messages, and increase purchase consideration. Early access to the tool is available, with general availability expected in Q4 2021.

Positive

• Launch of Brand Impact Simulator enhances brand strategy and marketing effectiveness.
• Research indicates a need for better brand resonance with 66% of brands missing their mark.
• 4-H organization reported a 22% increase in brand awareness and a 12% increase in online community members.

Negative

• None.

PROVO, Utah and SEATTLE, Aug. 25, 2021 /PRNewswire/ -- Qualtrics (Nasdaq: XM), the leader and creator of the Experience Management (XM) category, is launching the Brand Impact Simulator, a self-service tool that helps brand leaders understand and prioritize any brand attribute—such as "easy to use" or "ethically sourced"—that have the greatest impact in helping them win new customers. Organizations can use the Brand Impact Simulator to improve the efficiency and effectiveness of their marketing and brand campaigns to accelerate customer acquisition and growth. 

Consumers have more purchasing options than ever, making brand perception a critical part of any marketing strategy. Yet many brands miss the mark. Qualtrics' research has shown that only 34% of brands resonate with potential customers, resulting in lost business before it even begins. To break through and win, brands need to focus on and invest in the key messages that matter to their potential customers. With Brand Impact Simulator, organizations of all sizes can effectively focus their brand strategy and marketing dollars by identifying the optimal mix of brand attributes that improve the key metrics that matter to them, such as increased sales, membership growth, or higher web traffic. 

The Brand Impact Simulator can automatically simulate scenarios across a brand's desired attributes. Using consumer feedback gathered on the Qualtrics platform, the simulator can help brands anticipate and quantify, by percentage, which brand attributes companies should focus on in their marketing messages to increase purchase consideration by potential customers.

For example, the Brand Impact Simulator can surface that a retailer should focus on "flexible return policy" or "great customer service" in its marketing materials, based on what its potential customers say they want from a brand in this category.  With this tool, organizations can understand which attributes correlate to a higher return in purchase consideration, set quantifiable goals in their campaigns and also use the data to inform business decisions, such as product investments.

Transforming Brand Perception to Accelerate Membership Growth
4-H has been a leading youth organization across the U.S. for over a century, empowering nearly six million youth with critical life skills every year. However, as an iconic, over 100 years old organization, it has strived to broaden brand perceptions that it offers agricultural enrichment opportunities only.

National 4-H Council, the non-profit partner to 4-H, needed an efficient way to promote growing 4-H program areas, such as STEM and workforce development. Brand Impact Simulator helped the organization identify which marketing opportunities and activities would significantly impact its goals so that 4-H could attract and welcome new members into its community. 

"As a non-profit, our challenge is maximizing our limited resources. We want more families to benefit from all of 4-H's life-changing programs, especially during these unprecedented times," said Danelle Sabathier, National 4-H Council vice president of digital strategy, multi-channel marketing & media. "With Brand Impact Simulator, we can focus on what matters to the families 4-H serves and build effective action plans that build upon our brand strategy and help us reach new audiences that enable us to advance our mission."

With Brand Impact Simulator, 4-H grew its brand awareness by 22% among new audiences, delivered a new brand strategy 35% faster, and saw a 12% increase in online community members over the last year.

"Customers have more choices than ever before, and to remain competitive organizations need a new approach to brand experience to help them quickly adapt to the constantly changing preferences of consumers," said Paul Sheets, Qualtrics general manager of BrandXM. "Brand Impact Simulator makes it easier than ever for brand and marketing leaders to quickly turn insight into action to strengthen their brands and accelerate customer acquisition."

Availability
The Brand Impact Simulator is in early access and will be generally available in Q4 2021.

About Qualtrics BrandXM
Qualtrics BrandXM empowers businesses to shape the future of their brands, accelerating customer acquisition, and growth. BrandXM identifies the essential brand drivers among potential customers, monitors changes in the market and competitor landscape, and grows a company's overall brand value. More than 150 brands across various industries around the world, including Lumen, Credit Karma, GoodRx, Uber, Vineyard Vines, Zebco, and more, rely on Qualtrics to deliver on their brand promise.

About Qualtrics
Qualtrics, the leader and creator of the Experience Management (XM) category, is changing the way organizations manage and improve the four core experiences of business—customer, employee, product and brand. Over 13,500 organizations around the world use Qualtrics to listen, understand and take action on experience data (X-data™)—the beliefs, emotions and intentions that tell you why things are happening, and what to do about it. The Qualtrics XM Platform™ is a system of action that helps businesses attract customers who stay longer and buy more, engage employees who build a positive culture, develop breakthrough products people love and build a brand people are passionate about. To learn more, please visit qualtrics.com.

Contact: press@qualtrics.com

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SOURCE Qualtrics

FAQ

What is the Brand Impact Simulator launched by Qualtrics on August 25, 2021?

The Brand Impact Simulator is a self-service tool that helps brands identify and prioritize attributes that influence customer acquisition.

How does the Brand Impact Simulator improve marketing strategies for brands?

It uses consumer feedback to help brands simulate scenarios and optimize marketing messages, thus increasing purchase consideration.

What percentage of brands resonate with potential customers according to Qualtrics research?

Only 34% of brands resonate with potential customers, indicating a significant opportunity for improvement.

When will the Brand Impact Simulator be generally available?

The Brand Impact Simulator is in early access now and is expected to be generally available in Q4 2021.

What impact did the Brand Impact Simulator have on the 4-H organization?

The Brand Impact Simulator helped 4-H increase brand awareness by 22% and accelerate the delivery of their brand strategy by 35%.