The Temkin Group sees a problem in how companies are trying to drive customer loyalty. According to the Chicago-based firm’s past research, organizations are overlooking perhaps the most important component of loyalty: Emotion. In a Temkin survey of 200 professionals, only 29% indicated that their company does a good job of measuring customer emotion.
This is a troubling statistic, especially considering another Temkin report in which customers were asked to rate their loyalty to brands on a number of different aspects of customer experience.
According to that study, 87% of consumers who gave a high rating for “emotion” are likely to purchase more, as opposed to only 13% who will purchase more after giving a low emotion score, the largest gap of any other area of CX. Finally, the overall emotion score of 293 examined companies is only 56%, compared to an average score of 70% for other customer experience areas.
“Customer emotion is a key driver for loyalty, yet is often an overlooked and underserved component of customer experience,” said Bruce Temkin, Managing Partner of Temkin Group. “We hope that the Intensify Emotion movement motivates people to focus more on their customers’ emotions, which our research shows will generate higher levels of loyalty.”
Further underlining the organization’s desire to drive innovation in customer emotion as a driver of loyalty, the Temkin Group has created IntensifyEmotion.com, a website dedicated to allowing users to share what they feel will be the best approach to target customer emotion in coming years.
The site is part of a larger effort called the Intensify Emotion Challenge, which seeks to reward the best ideas for using emotion to build loyalty. The top 4 submissions, as determined by the Temkin Group this coming August, will each receive a $250 Amazon gift card for their ideas.
The Temkin Group is a trusted leader in researching how customer emotion plays a role in the buying process, as well as how companies can leverage this information to improve the customer experience.