The emotions of your customers drive your profitability and customer loyalty. We may be hesitant to acknowledge because we all know that relationships (even business relationships) are based on emotions and communication and can get us into trouble if we are not in tune with our partner. Does the phrase “Can we talk?” sound familiar and scary?
Being in tune with your customer while working with them is just as crucial, especially if you plan to stay in business and be successful.
Emotions Drive Most Buying Decisions
Think of your current banking institution. What emotions come up for you? If you are instantly filled with frustration and irritation, odds are you are also currently looking to jump ship and find another bank. If, just thinking about them causes you to feel this way, how much worse is it when you are actually on their website or in their location? Frustration and irritation are the kiss of death for customer loyalty. Once you get past the hassle factor of switching to another bank, if you’ve found one that makes you so glad you found them, you’ll likely encourage most of your friends and associates to try your new bank as well.
Lesson: Your frustrated and irritated clients are solid detractors from your business. They’ll spread the word willingly about how difficult it is to do business with you and encourage people to try your competitors.
What about those of you that felt good about your bank when you thought of them? For those of you that felt your finances are safe and secure, that your best interests are being cared for, those of you who feel your bank truly values your business, you will likely never leave that bank willingly. Those positive feelings are the drivers of customer loyalty.
Lesson: Trust, safety, security, comfort, and happiness drive customer retention and loyalty and, ultimately, profitability.
Now, we’ve looked at four main emotions – frustration, irritation, trust, and feeling valued. These emotions are fairly simple and easy to identify in your customer’s body language and mood. Point out to your leadership team and staff that these emotions are key indicators of the way your customer feels about your organization as a whole and their likelihood of customer satisfaction and loyalty.
Keep It In Check
Provide some discussion forums or training for your teams to identify indicators of these emotions and how to work with those that are frustrated and irritated. Give your staff the tools and strategies to help ease customer frustrations, better communicate with them to identify underlying issues, and to open up discussions as to how to make working with your organization better and easier for them.
Pay attention to the customers who are loyal and appear to be happy to be working with your company. Train your teams to recognize these folks and give them strategies and tips on how to engage and to find out what it is about your company that has caused them to feel the way they do. The goal is to replicate the “stimulus” as often as possible to encourage happiness and loyalty. If it’s your staff that’s wonderful,then identify the characteristics that drive this result and be sure to have those as “must haves” in all new potential candidates.