Qualtrics Launches Self-Service Tool, Brand Impact Simulator
Qualtrics, creator of the Experience Management (XM) category, is launching the Brand Impact Simulator, a self-service tool that helps brand leaders understand and prioritise any brand attribute—such as “easy to use” or “ethically sourced”—that have the greatest impact in helping them win new customers. Organisations can use the Brand Impact Simulator to improve the efficiency […]
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Qualtrics, creator of the Experience Management (XM) category, is launching the Brand Impact Simulator, a self-service tool that helps brand leaders understand and prioritise any brand attribute—such as “easy to use” or “ethically sourced”—that have the greatest impact in helping them win new customers. Organisations can use the Brand Impact Simulator to improve the efficiency and effectiveness of their marketing and brand campaigns to accelerate customer acquisition and growth.
Yet many brands miss the mark. Qualtrics’ research has shown that only 34 per cent 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, organisations 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.
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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, it 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, organisations 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.
