Click here to read the article as published in the September 2023 edition of Pioneer:

Tapping the power of customer emotions

“People buy because of emotion and justify with logic.” – Drew Eric Whitman

For every pragmatic and analytical entrepreneur the pursuit of success and growth is a strong personal driver. However, the challenge that each one of them faces is a very common and hazardous misconception prevailing in the business world – the belief that emotions hold little sway over loyalty and growth, especially in the B2B sector.

Emotions in B2B: Driving Loyalty & Growth

There is a transformative power of emotions in driving business success – ‘transformative’ because it has been found that clients who feel positive emotions such as being valued, cared for and supported (among others) can enjoy an increase in their Net Promoter Score® by up to 70 points, in comparison to clients that do not feel these positive emotions.

For every 1-point increase in Net Promoter Score, a brand’s share of wallets increased by 1.25 per cent to 3 per cent.

The Blueprint of Harnessing Emotions

Alex is a business leader who heads a successful B2B technology firm. Alex always prided himself on making data-driven decisions and believed that logical arguments were the key to winning clients. However, despite a superior product and efficient service, the company struggled to retain clients and attract new ones. Alex couldn’t fathom why their growth had plateaued.

Alex then decided to assess the emotions of one of his longstanding clients to understand what drives their customer loyalty towards his business. To his surprise, the client said that the personal touch that Alex’s company provided made them feel valued and understood. They believed that Alex’s company was a strategic partner and not just a mere supplier. The emotional bond that they had built was the reason that the client continued to stay loyal to Alex’s company.

Word of mouth can bring in 30-50% of sales if done correctly. This has a huge positive financial benefit to any business. The case vividly illustrates the power of emotions in driving loyalty and growth in the B2B sector.

Unlock the paradigm shift

Emotions hold an extraordinary power that can be harnessed, quantified, and strategically managed. This is the untapped elixir to drive loyalty and growth. Staff need to be engaged and empowered to transfer these positive emotions to customers.

Every business must radiate emotions that resonate with their customers and staff alike, growing their base of happy customers who show unprecedented loyalty towards your business. Organisations must identify the right emotions tailored to their industry. This is best achieved by running a strategic workshop with a facilitator who has skills in extracting key emotions and experience in how to leverage emotions to drive customer loyalty and growth. These emotions become the essence of their customer engagement approach

Develop a method to not just plan these emotions, but also measure them. Every emotion, positive and negative, can be measured. Remember that when these emotions are gauged accurately, it makes every customer interaction count. Besides, teams across the business silos need to consistently workshop and share best practices. During ideation workshops focused on fostering positive emotions, frontline staff consistently showcase their creativity and innovation in devising initiatives that cultivate a sense of value, care, and support for clients. This subtle yet impactful approach has the potential to establish enduring and unbreakable connections with clients, propelling businesses towards elevated levels of loyalty and success.

NPS®, Net Promoter® and Net Promoter Score® are registered trademarks of NICE Satmetrix Systems, Inc., Bain & Company and Fred Reichheld.