Emotional value of customer and repeat buying

1. Emotional Connect
&
Repeat Customer
food for though

2. Spending Habits (Types)
• Need Based
• Impulsive
---------
Impulsive buying in more inclined toward the emotional quotient of the decision.

3. Repeat Customer
• We know they are important.
• 41% of total online revenue in the U.S. (even though only 8 percent of U.S.
customers are repeat customers)
• Study says:
• Repeat Customers Are Less Price Sensitive.
• Repeat Customers Are Your Most Staunch Brand Advocates.
• Repeat Customers Lead to Lower Marketing Spends.
• Repeat customer buy a product are between 60-70 %, whereas the chances a
new customer will buy your product range between 5-20 %.

4. Who are Repeat Customer
• A repeat customer is the customer for whom the brand/ company has delivered a
“Value Proposition” and has satisfied one or more “Emotional Motivators“.
• Value Proposition - Value Proposition is a statement of the functional, emotional
and self-expressive benefits delivered by the brand that provides value to the target
customer.

5. Emotional Motivators (few…)
I am inspired by a desire to: Brands can leverage this motivator by helping customers:
Stand out from the crowd Project a unique social identity; be seen as special
Have confidence In the future Perceive the future as better than the past; have a positive mental picture of what’s to come
Enjoy a sense of well-being Feel that life measures up to expectations and that balance has been achieved; seek a stress-
free state without conflicts or threats
Feel a sense of freedom Act independently, without obligations or restrictions
Feel a sense of thrill Experience visceral, overwhelming pleasure and excitement; participate in exciting, fun
events
Feel a sense of belonging Have an affiliation with people they relate to or aspire to be like; feel part of a group
Protect the environment Sustain the belief that the environment is sacred; take action to improve their surroundings
Be the person I want to be Fulfill a desire for ongoing self-improvement; live up to their ideal self-image
Feel secure Believe that what they have today will be there tomorrow; pursue goals and dreams without
worry
Succeed in life Feel that they lead meaningful lives; find worth that goes beyond financial or socioeconomic
measures

6. Role of Emotions
• Emotions drive our actions.
• Happiness makes us want to share.
• Sadness helps us connect and empathize
• Fear/surprise make us desperate for something to cling to.
• Emotions have longer impact (subconsciously)
- Google’s Abigail Posner’s “energy exchange”
- Robert Plutchik’s “wheel of emotions”
}This is where marketers play
(emotional ads)

7. Hierarchy of Emotional Value
Emotions That Drive and Destroy Value

8. Synopsis
• The act of buying is an experience filled with emotions, some positive some
negative. Each situation exhibits different emotions, based on customer’s
knowledge, experience, financial condition, etc. Emotions are part of branding and
are the motivators of action.
• Every interaction of customer is a function of their emotion and we should
acknowledge it. The way an event is handled is just as relevant a the event itself.
Even if emotions are difficult to manage and measure, they must be taken into
consideration when attempting to build long term customer relationship.
• Fully connected customers are 52% more valuable, on average, than those who
are just highly satisfied

9. Guidelines
•Customer Empathy.
• Treat service calls as opportunities - Relationship (Build Trust).

10. References
• http://www.tmius.com/wp-content/uploads/2013/02/Emotional_Value-p.-5.pdf
• https://hbr.org/2016/08/an-emotional-connection-matters-more-than-customer-satisfaction
• https://hbr.org/2015/11/the-new-science-of-customer-emotions
• http://www.iresearchservices.com/5-common-factors-influencing-consumer-behavior/
• https://blog.kissmetrics.com/true-love-with-customers/
• https://blog.vendhq.com/post/64901826674/7-tried-tested-tips-keep-customers-coming-back-store
• https://www.onlinemarketinginstitute.org/blog/2014/05/what-you-never-knew-about-repeat-customers-and-what-to-do-now/
• https://www.yotpo.com/blog/10-ways-to-improve-customer-retention/
• https://www.shopify.in/blog/15593136-7-customer-retention-tactics-to-get-current-ecommerce-customers-to-purchase-more
• http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.330.5803&rep=rep1&type=pdf
• https://www.mckinsey.com/business-functions/organization/our-insights/the-moment-of-truth-in-customer-service
• https://customer.io/blog/emotional-affinity.html
• https://blog.bufferapp.com/science-of-emotion-in-marketing
• https://beyondphilosophy.com/wp-content/uploads/2014/11/CS_Call-Center-Pipeline-Article.pdf
• https://www.callcentrehelper.com/how-to-measure-customer-emotions-86061.htm

11. That’s it for now!