Today’s customers enjoy the availability of a wide range of choices, good quality products, and the convenience of e-commerce. They are now on the hunt for businesses that enhance their lifestyles with emotional value.
Emotional value is when a customer experiences positive feelings like joy and happiness from the services offered by a business. In Seth Godin’s words, “People do not buy goods and services. They buy relations, stories, and magic.”
Emotional value stems from being more empathetic towards customers, treating them with respect, offering prompt assistance, and acknowledging their importance. A customer experience with emotional value helps brands create a strong bond with their customers. But why is it so important?
Emotional Value Impacts Satisfaction and Loyalty
Emotional value is closely tied with customer satisfaction. When you offer a well-streamlined buying journey that makes the experience effortless and easy, it evokes positive emotions in customers. It also creates a great impression about your brand. Satisfied customers are more likely to spend more, make impulsive purchases, and remain loyal to your brand.
A great emotional experience is the secret to creating happier customers who are willing to purchase repetitively from your brand. So, it’s time you assess how your customers feel about doing business with you and devise ways to improve it.
Emotions Foster Long-Term Relationships
When you elevate the customer experience with touchpoints that offer great emotional value, customers become more attached to your brand. It fosters strong, long-term relationships and increases customer lifetime value. Customers know they can enjoy superior service when they deal with your brand and won’t hesitate to come again.
Also, when customers get emotionally connected to brands, they advocate and promote the products to people. Building such a loyal customer base can help your business expand. You won’t have to bear hefty marketing and lead-generation costs in attracting new customers if you create an experience that your targeted audience is bound to love. Not only will it be a great selling point but also a powerful strategy to retain your long-term clients.
Delivering Emotional Value through Every Interaction
So, how can you deliver a strong emotional experience during customer-brand interactions in the buying journey? First, it’s paramount to understand where your brand stands at present when it comes to emotional experience. EVI® is a metric that can be utilized to measure and improve the quality of emotional experience at any stage in the customer journey. It can help you identify pitfalls and improve the overall service.
For a strong emotional appeal, brands need to offer a personalized experience for their customers. With custom product suggestions, shopping assistance, and bundle offers, you can convince customers that your brand is well aware of their buying habits and preferences. Emotional value can also be further enhanced by delivering marketing content with a human touch. You can post content in the form of storytelling and surprise customers with rewards and discounts for their favorite products.
The Many Benefits of Creating Emotional Value
Did you know that the emotional value you create for your clients can be your biggest strength? When you find it difficult to compete with a large pool of rivals, the emotional experience can help you stand out from the rest. Customers are more attracted to brands that go the extra mile to ensure they have a great shopping experience. Emotional value can help you differentiate your business from competitors and enhance the brand image and reputation.
Emotional value also increases customer retention rates as customers become comfortable doing business with you and stay loyal to your brand. They would also engage in word-of-mouth marketing, promoting your business to others. Before you know it, your brand will be a cult favorite! The increase in retention and advocacy means your business will benefit from increased revenue and profits. A steady income will help your business grow sustainably and succeed.
Feel free to download our eBook: Emotional Value Index (EVI®) – The Next Big Thing In CX Since The NPS, and learn more about how customer emotions can be the game changer to your business.