Summary: Terms like “luxury” and “utility” are used too often describe brands, each carrying positive or negative connotations. Here I present the Quality / Expenditure Matrix to characterize your consumers’ experiences, and to help determine how you can leverage that position to your advantage. E-mail. Tweet.
Inspired by my interest in amateur mixology over summer vacation, I stumbled across an interesting post, while looking for a cucumber gimlet recipe. As an MBA, I’m a big fan of 2×2 matrices, which made me particularly interested in this one…which places her cucumber gimlet recipe in the bottom left corner, indicating a High Quality / High Maintenance experience.
Looking at Erielle’s matrix, not only led to a great cocktail, but it also got me thinking whether brands could be classified along similar dimensions, based on the consumer experience they provide. Moreover, while a brand aspires to a certain position, what happens when they execute poorly? This gave rise to my version, called Quality / Expenditure matrix of customer experience…perhaps inspired by too many of those cucumber gimlets.
Let’s take a look at it, and some examples of brands that fall into each quadrant.
The Quality / Expenditure Matrix
This matrix looks at the customers’ experience with your brand along two dimensions:
The level of both money or or effort (time, energy, distraction, frequency) the consumer invests in order to engage with the brand.
The value of the product, or service, either by straight utility, desirability, or the depth of relationship forged between brand and consumer.
Let’s look at each of these quadrants in more detail.
Just wanted to wish the gang at Lime Tree Cove the best of luck this weekend – they’re heading out to Jimmy Buffett’s annual “Parrot Head” conference, called the “Meeting of the Minds” in Key West, FL.
They’ll be there to showcase The Barmaid, in all of it’s glory.
Last week at Visible Measures, we unveiled a major redesign of our homepage, moving from a standard brochureware site, to showcasing our data first. While it took a lot of hard work by many teams, it’s not the first time we’ve been through this. Having piloted a number of these at VMC, it got me feeling a little nostalgic as I looked back on the numerous incarnations of our homepage, which I’ll share.
With the Fall season upon us, we’re well into start-up conference season, with the big ones like DEMO and TechCrunch50 behind us, and the Web 2.0 Summit coming up this month. There is a lot of hype out there about the next big ideas, products, and companies…some of the organizers are even starting to believe their own hype as influencers of future success.
Well, I’ve got to admit, I’m downright fatigued from looking at the same kinds of ideas, over and over again, and the lazy approach to marketing and promotion from so many. For instance how many more companies do we need to see with no vowels in their names that have home pages that just display a pretty picture and the word “sign up”. I DON’T KNOW WHAT YOU DO OR WHY I NEED IT, SO I’M NOT GOING TO SIGN UP.
Too harsh? Maybe. Tough love? Yes. As a previous attendee at these conferences, I still think that they are great venues, but with a little careful planning you can cut through the clutter out there, by understanding the most tired, played out tactics and what you can do to stand out to build something of real value.