Satisfying the Emotional Needs of Your Customers Through Investing in Empathy
Businesses have long concentrated on Return on Investment (ROI) metrics to calculate marketing success. However, innovations in neuroscience and developments in social media have revealed that profitability can no longer simply be relegated to sales figures and profit margins.
Increasingly, to create sustainable customer relationships that enhance customer lifestime value, businesses must invest in the emotional needs of their customers. By making this shift, brands will gain a significant ROE Return on Empathy.
Investing in Empathy
A business that invests in empathy devotes itself to understanding the deep-set emotional needs and motivations of customers, and aligns itself to meet those needs. Companies have increasingly embraced the value of emotion in selling products and services, but often these companies merely pay lip service to the importance of emotion, without actually understanding how to harness it.
We know that human motivation is extremely complex, and typically people don’t say what they think, or even think what they say. As a result an enormous amount of business resources are wasted when companies over-rely on market research that poses only rational questions without probing customers emotional reactions that lie hidden within their answers.
Consumers treat brands like relationships, rewarding friends with their loyalty and lashing out when wronged. When companies cultivate positive customer relationships they are rewarded with loyalty. When businesses look beyond the surface of rational data and into the meaning behind customers feelings, and behaviors, they will recognize the human needs that drive most customers decisions.
Businesses that work to build lasting partnerships with customers see a tangible Return on Empathy. Their efforts are rewarded through sustained relationships that endure beyond shifting trends to deliver greatly enhanced lifetime customer value.
To find out more about empathetic marketing, you can visit the author’s book page by clicking here.