The Simplicity Premium: Up to 29% of Americans Would Pay For A Simpler Brand Experience

source: http://www.marketingcharts.com/wp/traditional/the-simplicity-premium-up-to-29-of-americans-would-pay-for-a-simpler-brand-experience-37759/?utm_campaign=rssfeed&utm_source=mc&utm_medium=textlink

SiegelGale-Simplicity-Premium-by-Industry-Oct2013Three-quarters of consumers from 7 key markets around the world report being more likely to recommend a brand because it provides simpler experiences and communications, per results from Siegel+Gale’s 4th annual Global Brand Simplicity Index [pdf]. The potential benefits of a simpler experience extend beyond recommendations: depending on the industry, up to 29% of American consumers would be willing to pay a premium for simpler brand experiences and interactions.

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Simplicity is defined as the ease of interactions and communications with a brand (e.g., researching, purchasing, interacting with customer service, etc.).

US respondents will pay the highest premiums (4.1% or more) to retail/fashion, electronics, appliances, restaurants, and fitness brands. That list has grown from last year, when Americans would only pay that premium to 2 industries (restaurants and grocery).

Americans also claim that they will pay 3.6-4% more for simplified experiences and interactions with brands across a range of industries, including automotive, travel/air, health insurance, travel/booking, retail/grocery, internet retail and general retail, according to the latest survey.

By: Dr. Augustine Fou Thursday, October 31st, 2013 news

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

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