Industry Updates

Investing in Empathy

12 Nov 2013

A business that invests in empathy devotes itself to understanding the deep-set emotional needs and motivations of customers, and aligns itself to meet those needs.

Companies have increasingly embraced the value of emotion in selling products and services, but often these companies merely pay lip service to the importance of emotion, without actually understanding how to harness it.

We know that human motivation is extremely complex, and typically people don’t say what they think, or even think what they say. As a result an enormous amount of business resources are wasted when companies over-rely on market research that poses only rational questions without probing customers’ emotional reactions that lie hidden within their answers.

Consumers treat brands like relationships, rewarding friends with their loyalty and lashing out when wronged. When companies cultivate positive customer relationships they are rewarded with loyalty.

When businesses look beyond the surface of rational data and into the meaning behind customers’ feelings, and behaviors, they will recognize the human needs that drive most customers’ decisions.

Businesses that work to build lasting partnerships with customers see a tangible Return on Empathy. Their efforts are rewarded through sustained relationships that endure beyond shifting trends to deliver greatly enhanced lifetime customer value.

Mark Ingwer, PhD, is a consumer psychologist and the managing partner of Insight Consulting Group, a global marketing and strategy consultancy specializing in market research and consumer insights.

He has 25 years experience applying his blend of psychology, marketing, and industry acumen to helping companies optimize their brand and marketing strategy based on an in-depth understanding of their customers. He is the author of “Empathetic Marketing" published by Palgrave, May, 2012. How to Satisfy the Six Core Emotional Needs of Your Customers"

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