Product Experience as a Brand Promoter

As a customer, I’d like to think a product is as good as the overall experience which may come before or after sales.

Let’s be honest, what is really the difference between iPod and another Mp3 player? They both serve the purpose quite well – to play music, they both “might” look similar (in the case of Chinese cheap imitation of iPod), and they both are relatively affordable.  I’m not a big car fanatic, but many people still would argue with me if I say any car is the same as long as it can run and not too small for a family of three.  Some are even so attached to their tooth paste that they would not use another brand even if it means not brushing their teeth for a whole day for the lack of their favorite one.

My professional career started when I first joined Citibank – funny that I never did like finance in college or anything to do with it and yet ended up earning money selling financial products.  But the whole thing started when I realized that one of the reasons customers would be “loyal” to their bank was not because of the actual product itself, but mostly because of the overall customer experience – this is quite evident especially with banking products which are mostly intangible.  Moreover in a hyper-competitive environment where I was in, a bank would easily change their interest rate in a matter of weeks in response to competition.  When it comes to pricing, the lowest interest rate of 3.0% would be a difference of .05% from the second lowest. I certainly wouldn’t consider switching my credit card for a tiny difference.

So, what is a customer experience? It is pretty much a sum of all experiences customer has with a product.  I personally prefer to call it a “Product” Experience, product as the operative word, as it is the object which shapes the experience for the customer.  Experts use these terms interchangeably.

I’ve listed several key factors which I believe help define a product experience in view of a customer (like me).  These factors do not in anyway represent a single body of theories out there, although they may have a few similarities in some form of fashion.

1. Functional (i.e. credit card can be used to make a purchase)
2. Considerable life cycle (i.e. credit card can be used without hassle for a few months)
3. Value for money (i.e. credit card is priced accordingly to its actual value)
4. Acceptable by current and future public standards (i.e. credit card is still a relevant payment tool in today’s standard, and will be for at least another decade)
5. After-sales service (i.e. if there’s a problem with the card, customer service is available to help)
6. Easy to use (i.e. credit card can be used by just about anyone)
7. Overall design (tangibles or intangible) serves the intended customer segment (i.e. credit card for frequent travelers)

All the seven factors are what define the brand a product.  If a company gets it right for the first time, the brand will have more chances to stick and becomes a top of mind.  Many successful companies seem to have adapted most of these drivers in some ways, but those who are not may have been short on the last four key drivers,…most notably on  after-sales service and design aspects of a product.

Some would argue that product pricing would determine the perceived product quality from the get go – in other words, one should not expect too much of a service of a cheap product. I completely disagree!  As a customer, I’d like to have some level of comfort knowing that a company would take care of me if their product fails me at a certain point in time.

Unless you’re happy with a useless product, in most cases people buy stuff for a purpose.  Cheap should not dismiss the fact that a product must be at least functional (which goes back to point no. 1 I mentioned earlier).  But as a customer, I’m also aware that nothing in this world is perfect.  So long I’m well taken care of, I’ll more than happy to forget it ever happens.  Call me naif, but I have had my share of disappointments which were well covered at the end.

The bottom line: overall experience of a product boosts revenue. If your company does not start taking this seriously, your competitor will and probably is paying more attention to it as we speak.

I’ll talk about design aspects of a product in my next post, which heavily influence customer’s decision in making a purchase.

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