Summary.
When a company connects with customers’ emotions, the payoff can be huge. Yet building such connections is often more guesswork than science. To remedy that problem, the authors have created a lexicon of nearly 300 “emotional motivators” and, using big data analytics, have linked them to specific profitable behaviors. They describe how firms can identify and leverage the particular motivators that will maximize their competitive advantage and growth. The process can be divided into three phases. First, companies should inventory their existing market research and customer insight data, looking for qualitative descriptions of what motivates their customers—desires for freedom, security, success, and so on. Further research can add to their understanding of those motivators. Second, companies should analyze their best customers to learn which of the motivators just identified are specific or more important to the high-value group. They should then find the two or three of these key motivators that have a strong association with their brand. This provides a guide to the emotions they need to connect with in order to grow their most valuable customer segment. Third, companies need to make the organization’s commitment to emotional connection a key lever for growth—not just in the marketing department but across every function in the firm.
When companies connect with customers’ emotions, the payoff can be huge. Consider these examples: After a major bank introduced a credit card for Millennials that was designed to inspire emotional connection, use among the segment increased by 70% and new account growth rose by 40%. Within a year of launching products and messaging to maximize emotional connection, a leading household cleaner turned market share losses into double-digit growth. And when a nationwide apparel retailer reoriented its merchandising and customer experience to its most emotionally connected customer segments, same-store sales growth accelerated more than threefold.