The role brands play in our lives is consequential. They unconsciously occupy much of our daily consciousness. In fact, brands are so much a part of our lives that we actually develop emotional relationships with them. We don’t just like or dislike brands, we love or hate them. We buy them in droves, or shun them altogether. And in doing so, we directly impact their value, as well as the economy.

Today’s most popular brands have values measured in the hundreds of billions of dollars. Apple, for example, the world’s number one brand as a brand valuation of more than $500 billion. That’s more value than the Gross National Product (GNP) of 150 nation states.

Objects of such considerable value are too critical to be left unattended. And, as the age-old adage suggests, effective management necessitates measurement.

Despite its complex formula, brand valuation is based on the surprisingly simple premise that “a brand is the relationship that secures a company’s future earnings.” This suggests the stronger the relationship between a brand and its customers, the greater the propensity for the brand to secure earnings in the future, hence the higher valuation. The opposite is also true.

This line of thinking also suggests that the more we know about customer-to-brand relationships, the more equipped we are to build and strengthen them, and in so doing increase their brand value.

CX Goes Omnichannel

Our relationships with brands are formed through our countless interactions over omnichannel platforms which today are comprised of retail environments, traditional advertising media, websites, digital promotions, social media, blogs, and emails – to name a few. Each interaction is part of a broader brand narrative, and the cumulative data points tell the whole story.

With its purpose to elevate satisfaction, build loyalty, and cultivate advocacy, CX deciphers and optimizes each interaction along the customer journey. It is a transformative process that empowers a business to strengthen the bonds between its brand(s) and its customers. To successfully achieve this, many businesses are reorganizing themselves to better serve their customers. For example, some brick-and-mortar stores are blending omnichannel experiences and becoming hubs for order fulfillment, distribution centers and customer support and customer service agents are taking up the role of sales associates, helping customers make purchase decisions.

Thus, and according to Talkdesk research, retailers are quickly adapting so shoppers can continue to purchase and do business with them in ways that have blurred digital and in store experiences—to the point now where many shoppers no longer differentiate between the two.

The Future of CX

As the digital landscape evolves and consumer expectations continue to rise, CX will continue to play an increasingly important role in delivering real-time analytics that interpret and respond to customer interactions, and ultimately empower businesses to shape and reinforce brand relationships.

In the dynamic realm of modern business, prioritizing CX isn’t just a strategy—it’s a necessity for building enduring brand relationships, driving sustainable success, and increasing brand value.