Research has found that a staggering 55% of people are willing to pay more for simpler experiences. A further 64% of people are more likely to recommend a business because it provides simpler experiences and communications.
According to global brand strategy firm Siegel+Gale, the businesses most likely to succeed are those that put clarity and ease at the heart of the customer experience. This theory is tested once a year with their Global Brand Simplicity Index. With over 15,000 people across nine countries surveyed, the Simplicity Index aims to understand which industries and brands provide the simplest experiences.
And it appears simplicity seems to have a direct impact on bottom-line performance. Since 2009, a stock portfolio comprised by Siegel+Gale of the Top 10 simplest global brands has outperformed the major indexes by 679%. This compares to growth of just 52% in the FTSE.
Your business made simple
If you’re looking to drive growth in your business, delivering a more straight-forward and simple experience for your clients could result in improved customer loyalty, referrals and an increase in your conversions.
By auditing your processes and the way you communicate with your clients, you may find areas where improvements can be made. When it comes to simplicity, even small adjustments can lead to big improvements.
At Pepper Money, a focus on simplicity is the driving force behind our recent criteria changes, making it easier for you to identify the right product for your clients.