The brand was found to have a higher level of Brand Intimacy than many global brands including Visa, MasterCard and Western Union. UAE Exchange received a Brand Intimacy Quotient of 39, beating the industry average of 34.
The Brand Intimacy Quotient is a shorthand score that demonstrates a brand’s ability to create intimate brand relationships and is based on the percentage of users who are intimate with a brand and the intensity of that intimacy. At its core, Brand Intimacy is about building strong bonds. It factors in reciprocity and emotion as key drivers in decision making and behavior. This new paradigm reflects how we access, learn about, choose, buy, share and advocate for brands.
According to the report, the strongest archetype of UAE Exchange was ‘enhancement’. This archetype was based on the consumer’s belief that they became better, smarter, more capable and more connected through the services provided by the company. The second strongest archetype was ‘fulfillment’ which was based on the consumer’s feeling that the company exceeds expectations and deliverssuperior service, quality and efficacy. Other archetypes commonly related to Brand Intimacyincluded “identity, ritual, nostalgia and indulgence.”
“Understanding the link between a brand and emotion, we’ve learned that ‘intimate brands’ havehigher revenue growth, profit growth and price resiliency than brands that are not intimate,” saidJae Hwang, Partner, MBLM. “It’s great to see a brand like UAE Exchange is able toestablish a strong emotional connection with its customers. It’s no small feat to be placed in the topthree of any of the eight industries in the UAE we studied, especially when you take into accountthe major global brands that were included in the survey.”
“We are delighted to know that UAE Exchange ranksthird in the Brand Intimacy Report,” saidGopakumar Bhargavan, Chief Marketing Officer, UAE Exchange. “It is a proud moment for us to be recognised for our efforts in providing exceptional customer service that makes a difference in the lives of the customers.
The study represents a new marketing paradigm that places more importance on the emotional connection between a brand and the consumer. Brands like UAE Exchange that have placed a greater importance on a customer-centric approach to business are well-positioned to takeadvantage of it. The high ranking of UAE Exchange in the report is a testament to the service the brand provides to its customers and reinforces its governing philosophy of being “a people’s brand”.
To download the full Brand Intimacy 2015 Survey Report or explore the Ranking Tool please visit: mblm.com/brandintimacy/UAE