Can You Offer Emotional Value to Your Customers?
Omer Artun, Ph.D., CEO of Mountain View, Calif.-based AgilOne says the challenge in a tech-driven world is being familiar to and with customers.
"All marketers should ask themselves: How can I restore the personal, unique relationships companies once had with customers in the days of the corner butcher shop," he asks. "Not too long ago, salespeople would know your name, know what kind of things you bought, how long you've been a customer, and other important information about your personality and behavior. This would make the buying process pleasant, so customers would be more likely to return, spend more, and develop a sense of brand loyalty and trust. Today, because of the exponential growth in both the number and type of customer interactions, companies have struggled to maintain the kind of personal relationships that used to be an important aspect of doing business with buyers. Even small and mid-sized businesses interact with customers on an enormous scale through a wide variety of channels, including websites, social media, mobile apps and actual visits to the store."
Paige Musto, director of corporate marketing for Beaverton, Ore.-based marketing automation platform Act-On Software, suggests an option.
"We're seeing a lot done with social ad geo-targeting, which we think will be huge in terms of organic and paid ad reach," she says. "With this capability, global brands have the ability to provide a more personalized experience for their followers based on location and interest, creating a one-to-few kind of communication vs. a one-to-many."
Lowenstein knows about this bond.
"Marketers now have a much greater realization of the importance of the emotional elements of perceived value, in addition to the traditional focus on the functional, tangible and rational elements of value delivery," he says. "Emotions, in both B-to-B and B-to-C markets, are the principal drivers of customer trust."