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