The New Science of Customer Emotions
Published: By Harvard Business Review, November 2015
Scott Magids, Alan Zorfas, and Daniel Leemon offer a fascinating perspective in the Harvard Business Review around customers’ emotions and the potential ROI from creating true emotional connection with customers.
When companies connect with customers’ emotions, the payoff can be huge. Consider these examples: After a major bank introduced a credit card for Millennials that was designed to inspire emotional connection, use among the segment increased by 70% and new account growth rose by 40%. Within a year of launching
products and messaging to maximize emotional connection, a leading household cleaner turned market share losses into double-digit growth. And when a nationwide apparel retailer reoriented its merchandising and customer experience to its most emotionally connected customer segments, same-store sales growth accelerated more than threefold.