Home > NewsRelease > The Payoff from Emotional Connections
Text
The Payoff from Emotional Connections
From:
The Herman Group -- Strategic Business Futurists The Herman Group -- Strategic Business Futurists
Austin , TX
Wednesday, October 11, 2017

 

The Herman Trend Alert

October 4, 2017

The Payoff from Emotional Connections

It was George Carlin who said, "People will soon forget what you said, but they will never forget the way you made them feel". When companies connect with customers' emotions, the payoff can be huge, including phenomenal increases in business. Though the material in this Herman Trend Alert was originally publish in the November 2015 Harvard Business Review, it is very insightful for business leaders today.

The enormous payoff

"Fully connected customers" are worth an average of 52 percent more, than those who are merely "highly satisfied". In fact, their relatively higher value is significant, "across a variety of metrics, such as purchases and frequency of use". We, at the Herman Group, extend that same payoff to include internal customers (employees) with those metrics being tenure, productivity, and more. And fully engaged employees are often relatively even more valuable than fully engaged external customers.

Pushing the "right" buttons 

The authors, Scott Magids, Alan Zorfas, and Daniel Leemon, who all work in the field, conducted research across hundreds of brands in dozens of categories. They discovered it's possible to "rigorously measure and strategically target the feelings that drive customers' behavior". They call them "emotional motivators."

High-Impact Emotional Motivators

Knowing these "High-Impact Emotional Motivators", brands that capitalize on people's desires to feel successful, independent, secure, a sense of belonging, or more, will be rewarded handsomely with greater engagement, sales, and of course, profitability. Although there are hundreds of these emotional drivers, the authors discuss only the top drivers that "significantly affect customer value".

How it works

Successful brands associate usage of their product or service with their customers' and prospects' aspirational feelings. When a leading household cleaner began messaging to maximize the emotional connection, it turned market share losses into double-digit growth. In another case study mentioned in the article, the authors cited a major bank that introduced a credit card for Millennials, designed to inspire emotional connection. The result was not only a segment increase of 70 percent, but also new account growth rose of 40 percent.

What emotional connections can mean to any employer or brand

Internally, creating emotional connections with employees makes them feel more connected and invested in the viability and the success of the organization---and therefore, more productive and likely to stay. Externally, creating emotional connections with customers and prospects makes them more likely to buy and to remain loyal customers, thus driving increased profitability. The bottom line is simple: emotional connections drive profitability.

?********

REDUCING EMPLOYEES' FINANCIAL STRESS PAYS IN RETENTION AND PRODUCTIVITY

Why is financial wellness the most sought-after new employee benefit? Why? Because financial stress is pervasive and painful. Now, you can help your employees be healthier by reducing that financial stress. Award-winning Best Money Moves will help you increase retention and productivity and thus enjoy better health outcomes. Call 847-242-0550 for a free trial TODAY.

********

The Herman Group is a firm of Strategic Business Futurists concentrating on workforce and workplace issues. We forecast the future and advise clients regarding relevant trends and how those trends may affect their lives. Applying our expertise as Certified Management Consultants, we advise corporate leaders regarding employee retention and organizational development to help them build workforce stability. We help organizations become Employers of Choice®. We also work with Employer of Choice, Inc. to formally recognize employers that meet the stringent standards dictated by the labor marketplace. As authors of management books and as active professional speakers, we inform and inspire people to make a positive difference in the world of work.

You did really get the ball rolling with our retention presentation, overall we have seen a move in the right direction with our turnover. 

In practice since 1980, we have served a wide variety of clients throughout the United States and in other countries. Our global affiliates assist us in sharing our expertise and advice with clients internationally. Our team of professional consultants and trainers is supported by an administrative staff that gets things done. We also have consultants certified to deliver our programs in your local area.

Delivering to both small and large groups across 100 industries, The Herman Group has provided over 2,500 educational and informative keynote speeches and training seminars worldwide.

Based in Greensboro, North Carolina, we travel extensively to meet the needs of our clients. We can always be reached through the support team in our office at (800) 227-3566. Overseas callers may reach us through 336-210-3547.

Should you have any questions after touring our website, please call or e-mail us at info@hermangroup.com.

Get started now on improving the stability and performance of your workforce and increase your chances for success in the future.

                             

 
Joyce L. Gioia, CMC, CSP
Certified Speaking Professional and Management Consultant
The Herman Group
Austin, TX
336-210-3548