For a business, there’s nothing more eye-candy than seeing customers flock to your store, admire your products, and go back with their hands full. But does this seem like a far-fetched dream for your business?
Then, what you need is a fresh strategy! If your business is not profiting from a higher number of sales as it should be, it’s time to think like your ideal customer and figure out what’s wrong.
We have a transformational method that will help you understand customers better, cater to their expectations more effectively, and maximize your sales. That’s EVI®.
Curious to know more? Then, let’s get to the topic right away!
Emotions and EVI®
One of the biggest factors that impact customer purchase decisions are emotions. Our moods driven by emotions affect our behavior and compel us to buy the product or ignore it. Emotional experience looks at how customers feel throughout the customer journey.
Emotional Value Index (EVI®) is a new CX metric designed to measure emotional experience associated with a buying journey. By tracking and measuring customer emotions, you can understand the various emotions that drive sales higher or lower. Calculating EVI® is fairly simple, with each emotion having an assigned value. Even the EVI® survey is user-friendly, simple, and fun to answer! Learn more about the metric here.
Know your customer to scale revenue
Your sales pitch and the variety of other techniques used to sell a product are framed around the ideal customer persona. So, you need to have a thorough understanding of the customer in order to sell effectively. EVI® surveys provide a lot of information about the emotions that customers deal with during the buying journey. It helps you understand their expectations, preferences, and buying behavior. Using EVI® data, you can provide a highly personalized service with relevant product recommendations that make customers feel special.
By using EVI® as a key metric, businesses can determine and understand how customers feel about the products and the overall customer experience. You will be able to identify how emotions change when they transition from one stage to another in the buying journey and factors affecting them.
Fix what’s wrong
EVI® also provides useful insights that help you improve and finetune touchpoints. For example, if the survey results on a particular touchpoint indicate a lower score, it implies that something is problematic. You can then try to identify the pain point(s) customers face during the interaction with the brand and rectify them.
By reacting to customer feedback positively, a business can build a strong brand image among its customer base and attract new clients too. It improves the engagement between the brand and the customer and strengthens the relationship. Your past clients will keep coming back to experience the great service, skyrocketing sales!
Build on what’s great
Similarly, EVI® is also a great metric that can show the touchpoints that are performing well. The score will be high, with the majority of emotions being happy, joy, enthusiasm, or similar. It indicates that customers are pleased with the interaction/phase.
EVI® data can show you what emotions drive the highest sales or biggest purchase size. The key is to evoke these emotions throughout the customer journey, offering a consistent and streamlined experience. You will notice how your sales rate increases gradually. When the majority of customers feel elated, higher revenue should be a guarantee, right? It will also propel word-of-mouth marketing, bringing more recognition and new customers.
Streamline every aspect of your business
The survey can be applied to any stage of the customer journey, both at micro and macro levels, to gain a lot of data. They can be super useful in identifying correlations with every aspect of the business – from marketing to product development. For example, the reason why customers feel unhappy about the product could be due to a lack of a useful feature. You can use EVI data to build correlations and make necessary improvements.
You can optimize the benefits of EVI data by enriching it with other organizational data. It will provide context for the data that can aid in making better organizational decisions to improve sales.EVI is a very versatile metric, and when used right, it can drive sales up and support achieving other business goals too. We at Feedbackly can help you with it.
Jaakko is an award-winning CX professional and entrepreneur at Feedbackly, founder and community professional at the biggest entrepreneurial digital community in Finland – Yrittäjä.io. He is a notorious keynote speaker from entrepreneurial stories to day to day human communications and customer experiences.