NEW YORK, Oct. 23, 2013 /PRNewswire/ -- Global strategic branding firm Siegel+Gale ( www.siegelgale.com) today announced the launch of its fourth annual Global Brand Simplicity Index™, which evaluates the state, significance and impact of simplicity on brands. This year the research explores the relationship between simplicity and employee innovation more deeply.
Key findings include:
- In the U.S., UK and Germany alone, brands that offer increased simplicity stand to gain $50 billion in revenue
- 75 percent of consumers are more likely to recommend a brand because it provides simpler experiences and communications
- In the U.S., 29 percent of consumers said they are willing to spend up to 4.6 percent more for a simpler experience
- A stock portfolio made from the publicly traded top 10 global simplest brands outperforms the major indexes
- The crucial link between simplicity and employee innovation—and the role of purpose—of 27 attributes that consistently describe companies where it's simplest to innovate, "understanding of" and "commitment to company purpose" rose to the top
Siegel+Gale's 2013 Global Brand Simplicity Index is an output of more than 500 brand ratings across 25 industries, based on a survey of more than 10,000 consumers in North America, Europe, Asia and the Middle East. Once the results were aggregated, Siegel+Gale used the data to generate two scores to measure simplicity: a Brand Simplicity Score and an Industry Simplicity Score.
"Our fourth annual survey reveals that on a global scale, consumers would pay more for simplicity," said Howard Belk, co-CEO and chief creative officer of Siegel+Gale. "When consumers experience simplicity at every touchpoint—it inspires deeper trust and greater loyalty. This year's Simplicity Index affirms that brands willing to simplify their customer experiences stand to gain more revenue. In the data, we have the percentage increase in price consumers said they would be willing to pay for simpler experiences offered by each brand included in the survey—a tangible illustration of the value of simplicity. Brands are leaving significant money on the table because of complexity."Simplicity, Purpose and Innovation In 2012, Siegel+Gale explored how companies can make it easier for employees to innovate at work. Last year's study uncovered that for employees, promoting innovative ideas was the second least simple thing to do in the workplace, just after asking for a raise. In other words, complexity kills innovation.
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