Building on Emotional Connection Drives Profits
March 17, 2016 | Marketing
By Suzy Rounce
This is an idea that has been around a long time, but it is really coming into its peak right now. Experienced-based brands are thriving more now than ever, and they are seeing massive spikes in growth. Here is a great example in a kids toy… Goldieblox’s female engineering role model. We love this brand and how they position themselves as girls with engineering know how! For those who don’t know, Goldieblox is a toy aimed at young girls with a passion for building stuff. The brand focuses on Goldie, a super smart girl who solves puzzles using basic engineering and problem-solving skills. She is up for changing the norms of how girls think of playing, engineering and what they can do. They are inspiring them to pursue their passions in engineering. Great teaser video here.
“The power of service lies in its ability to create an emotional connection, rather than a purely rational connection. And emotional connection leads to economic outcomes.”
Articles are being written and results are being shown. We were recently at a Disney Institute training and they define it as this: “The power of service lies in its ability to create an emotional connection, rather than a purely rational connection. And emotional connection leads to economic outcomes.” You create stronger bonds with your customer when focusing on how he FEELS about your organization. It is not about rationally convincing people to do certain things. (They follow their gut anyway in the end). But real emotional connection leads to real economic outcomes.
Gallop Poll says that if you do not make an emotional connection with customers, then satisfaction is worthless. Organizations that optimize emotional connection, outperform competitors by 26% in gross margin and 85% in sales growth. Emotionally engaged customers are: three times more likely to recommend, three times more likely to repurchase, less likely to shop around and are much less price sensitive.
There has been an insidious decline in customer service, which has in turn created a major opportunity…we say a huge gap for businesses to differentiate themselves. Customer experience (and your company’s culture, but that’s a different article) is truly the only differentiator in this day and age.
Here are a few great ideas and resources to learn more about emotional connection: