Introducing The Love Index: A FRESH Approach to driving Digital Affinity
At Fjord, we know that relationships matter. Human relationships are nuanced and complicated – some dwindle, some last forever – and the same holds true for our digital relationships.
What does it take for us to build lasting relationships with the digital services we use and love? Today’s loyalty measures, such as the Net Promoter Score, are lagging indicators of customer engagement. They don’t account for why customers are loyal, nor do they provide specific, actionable guidance on how to improve digital experiences.
So how can brands figure out what customers really think of their service, product, or company? Do they love it, hate it, or are they indifferent? What if brands could accurately measure customer engagement and compare it to pace-setters in their industry and beyond? What if they could better understand their areas of relative strength and weakness and create an actionable plan for improvement?
Now they can.
We’re pleased to introduce The Love Index, a proprietary tool that addresses these challenges head on. Today, digital experiences that sustain our delight need to be as intuitive and surprising as their competitors. And now that we live in the time of liquid expectations, everyone is competing with everyone. Our expectations are defined by our experiences across the universe of digital services we access. For instance, banking platforms must now meet the same standards we have for ride sharing or online shopping.
The Love Index, created by Fjord and Accenture, not only measures people’s engagement with services; it also identifies the highs and lows of a person’s relationship with a service and highlights actionable opportunities for brands to make improvements.
People rarely think of themselves as ‘loyal’ to a brand or service – more likely, they’d tell you ‘I love my online bank!’ or ‘I love my fitness app!’ The Love Index hones in on what’s working, what falls short and why we love some experiences more than others. Using the five FRESH dimensions, our approach is organized using bespoke, survey-based methodologies wherein quantitative data powers qualitative research in order to map how much an experience is:
Whether or not we’re always aware of them, these dimensions inform our behavior as we navigate personal digital environments.
When combined, these dimensions provide a very strong reading of simple human behavior and feelings. They determine whether someone would feel a sense of loss if the service was not in their life, they influence whether someone is likely to recommend the solution to others, and they determine whether people love the service or not. With the Love Index, companies can pivot on specific, measurable dimensions that are most critical for finding and retaining delighted customers. This is an opportunity to draw our clients in to the design process, and to bring transparency to the loyalty measures brands count on.
Think of it as digital relationship counseling at a mass scale, with a real, analytical approach to examine shortcomings squarely and to craft experiences that will sustain customer love and loyalty in the long run.