The expectations gap is the difference between what a consumer expects of a brand and the experience they actually have of it.
Consumer expectations are being defined by the likes of Amazon, Netflix and Google, regardless of the industry you’re in. Of course, in banking you have the likes of Monzo and Atom; in travel and transportation you have Airbnb and Uber, but consumer expectations transcend all verticals and they’re growing fast.
In an Accenture study, 52% of customer experience decision-makers around the world were confident that they were ahead of their competitors, yet only 7% said their company exceeded the expectations of customers.
What’s e3’s advice to brands? You can keep up with consumer expectations. You can even surprise and delight your customers, grow your market share and loyalty if you tread the right path. But you must act quickly.
At e3, we partner with our clients to elevate their place beside today’s demanding consumer through:
1. Deep consumer understanding
We maintain a continuous deep understanding of consumer attitudes and behaviours through primary and secondary research, data tracking, data capture and user testing. We also regularly develop a long-term cross-sector strategic outlook on trends to anticipate future demands.
2. Market-wide intelligence
We conduct competitor audits that go beyond the category and sector our clients operate in, including startups and innovators not just traditional players.
3. Digital momentum
We bring the expertise and experience to rapidly deliver digital products and services. We use platforms such as Sitecore to enable us to deploy multi-channel, personalised experiences that engage consumers.
Join us for lunch at Searcys, The Gherkin, on Nov 8, for a complimentary working lunch to discuss the challenge of keeping pace with consumer expectations.
Our head of strategy, Jon Reay will be introducing the lunch. He will be joined by guest speaker Paul Fennemore, digital transformation expert, academic and Sitecore specialist, who will be sharing his thinking and some case studies where brands are getting it right.
Take in a 360-degree views of the City of London and enjoy exceptional food for thought with fellow senior marketers from leading brands.