When talking about a brand, most of us would probably relate it to a design, a logo and its product/service. But what makes companies like Nike or Apple different from their competitors ? And how are they even able to set a higher price while still attracting more and more customers ? That’s all about experience.
“We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.” – Jeff Bezos, Amazon CEO.
Indeed, the most successful companies are those who, beyond simply selling a product or a service, are offering an experience. They represent a lifestyle for people who recognize themselves in the values shared. They aspire and bring the branding to a completely different level by giving more value to their customers, instead of only doing so to their product.
A great example of a company offering a unique customer experience is Red Bull. How does the energy drink company managed to stand out from the crowd ? While most of its competitors built their strategies focusing on the product and the price, Redbull decided to bet on the experience given to its customers. Not only do they sell a product but they also sell and above all an idea, and an experience. Through all their sponsored events such as space diving and extreme sports, this is the company’s philosophy which is shared : the pursuit of extreme, pushing oneself to the limits. Red Bull turned a simple energy drink into a global entertainment brand.
Therefore, one may wonder what makes a brand more powerful than another one. Should companies continue to only meet the demand with a simple core product, as the traditional and outdated way of doing, or should they try to exceed the demand by offering a real and unique experience towards customers ?
- Customer experience lessons from Red Bull – Peggy Carlaw
- Top 5 Brands Growing Beyond Product to Experience – Claire Smyth