Every time I help a brand emerge as one with a strong CX focus, I ask my clients four important questions:
- Does the product you offer have a story? Is there an emotional connect that a customer will feel with the solution?
- Does the brand have a focused customer-centric intent at its core driving the entire organisation and inspiring all internal staff?
- Does it align with what your brand promise?
- What do you offer besides the ‘coffee’ for your brand?
Once a company answers in the affirmative to these four questions, it’s obvious that the company’s promise will drive the shaping of the product, thus creating a brand value for itself.
Engaged Strategy’s Intelligent Industry Analytics of five important industries in Australia, namely Banking, Superannuation, Motor Insurance, Property Insurance and Health Insurance, studied various emotional elements of customers towards major brands in these sectors. Among 15 emotional elements, the most prominent were the ones where brands made customers feel valued, supported and cared for. By not focusing on these three emotional elements, brands within these segments were losing anywhere between 45 to 50 Net Promoter Score points – a pretty big gap in a scenario where every positive NPS point has a huge economic impact.
Customers who have a positive emotional connect with a brand are more engaged and spend more with the brand. Engaged customers also improve the brand’s customer base via effective word of mouth recommendation, leading to long-term good profits. So think about this the next time you look at your brand’s offering:
What is the ‘aha’ moment that you create for your customer?
What is the emotional connect you have with your customers?
How do you ensure your staff transfer the right positive emotions to your customers?