Saturday 25 June 2022

The Next Innovation survey

88pc to pay more to receive a ‘great brand experience’

DUBAI, April 26, 2022

Some 88% of consumers in UAE and KSA have revealed that they will pay more to receive a great brand experience, found TBWA\RAAD in their Next Innovation survey.
About 92% of consumers say they choose brands that surprise and delight them while 85% of consumers say that having bad experiences leads to bad buzz.
In the survey across the UAE and Saudi Arabia, it was revealed that despite a near universal interest in technology (96.7%) and over half of consumers passionate about innovations such as the metaverse, brands are still falling short in terms of using technology to enhance their customers’ experiences. 
Shift to Web 3.0
The shift to Web 3.0 with the growth of technologies like the metaverse, gaming, AR or NFTs requires brands to play into unknown territories. Businesses need to move beyond the buzzwords and be truly impactful in those new spaces. 
Powered by TBWA—The Disruption Company—which has been named to Fast Company’s list of most innovative companies in the world for the fourth consecutive year in 2022, Next connects emerging tech with a deep understanding of culture and brands to disrupt the traditional approaches to customer experience thinking and unlock business and brand opportunities.
Deploying proprietary modules such as Future Mapping (a full innovation pipeline developed for brands based on their business strategic needs, while tapping into the Shifts that are shaping the future), Sprints (a deep dive into one specific opportunity within the 25 Shifts identified as critical for brands in 2022) and Quick Prototyping and Labs (where ideas are produced and delivered through the global network of makers within the TBWA Collective), Next is powered by an ecosystem of tech and business experts, creative leaders and strategists who are ready to develop the next generation of brand experiences. 
Brands need to step up
Jennifer Fischer, Chief Innovation Officer heading Next at TBWA\RAAD said: “Today more than ever, brands need to step up their game. Consumers in the Mena region are tech-savvy and are hungry for what’s next – brands must make innovation more than a buzzword and ensure it drives business growth and real value to customers. 
“To do this, technology is not enough. People need impactful experiences that are in sync with culture, tap into emotions and use creativity and storytelling to become memorable and meaningful. Next aims to create more and more moments when customers can fall in love with brands, unlocking brand love, loyalty and of course business growth.” 
Next’s survey, conducted in collaboration with Hall and Partners in March 2022 across markets in the UAE and Saudi Arabia, clearly demonstrates a readiness, from consumers and brands alike, to embrace more innovative and personalised experiences. 
Too many cooks …
While 57% of consumers believe that too many brands offer a bad experience, 93% say that they enjoy when a brand is creative in what it offers. In the UAE, nationals care even more about brand experience. 
In fact, 90% of Emiratis say they are more likely to use a brand if it offers services and products that are personalised to their needs. The context doesn’t differ at all in Saudi Arabia, where 93% of Saudis stated the same.-- TradeArabia News Service


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