It’s not easy to convince a customer nowadays to trust your company over another, but the right emotional connection may lead to a bond with multiple benefits.
Emotionally engaged customers have a higher lifetime value, as they tend to be loyal, satisfied, and ready to proceed to a new purchase.
According to Harvard Business Review, emotionally engaged customers are also:
At least three times more likely to recommend your product or service
Three times more likely to re-purchase
Less likely to shop around (44% said they rarely or never shop around)
Much less price sensitive (33% said they would need a discount of over 20% before they would defect).
Moreover, according to a survey by Forrester Research, companies that aim for emotional connection beat their competitors by 26% in gross margin and 85% in sales growth, with customers feeling more engaged and appreciated.
By tapping into emotion, companies manage to fulfil the consumers’ emotional needs, whether it’s the sense of belonging, security, freedom and other “emotional motivators”.
HBR has compiled the most popular motivators that affect consumer behaviour and how brands can use each one of them to create