the key to boosting loyalty - insight innovation
TRANSCRIPT
The key to boosting loyalty
“We are not thinking machines that feel; rather, we are feeling machines
that think.” Antonio Damasio
“We are not thinking machines that feel;
rather, we are feeling machines
that think.” Antonio Damasio, Professor of Neuroscience
4
Would recommend you to others. This is the most powerful group which can recruit new customers. They are essential for GROWTH.
Your customers…
5
Behavioral loyalty does not guarantee true commitment
Aadvantage
Aeroplan
Air Miles
American Express Membership Rewards
Canadian Tire Money
Costco Membership
Hbc Rewards / Club Z
PC Points
RBC Rewards
Sears Club Points
Shoppers Optimum/Pharmaprix
Optimum ClubSobey’s
Staples Business Depot’s easyRewards Savings
Metro & moi
CIBC Aero Classic Visa
Costco TrueEarnings AmericanExpress Card
Aerogold Visa/CIBC Aerogold Infinite
Air Miles MasterCard
American Express BMO Air Miles MasterCard
HBC MasterCard
RBC Visa Avion
TD Canada Trust Travel
President Choice MasterCard
Shoppers Optimum MasterCard Target REDcard
Debit/MasterCard
Walmart MasterCard
R² = 0.07
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0%
%, Likely to drop out
%, w
ho u
ses
wee
kly
Case study
6
If you focus on share of heart, you will get share of wallet
Our Philosophy on Customer Relations Management
The reverse may not always be true
7
30% logic
70% emotion
Its the emotional side of the decision making process that creates an immediate connection and interest
8
Emotional processes can guide or bias behavior, particularly decision making
Somatic marker mechanism
Evoked emotions are unconsciously
associated with past outcomes and bias
decision-making
Decision making
9
When individuals make decisions, they must assess the incentive value of the choices available to them,
using cognitive and emotional processes
When the individuals face complex and conflicting choices, they may be unable to decide using only cognitive processes.
The 4 roles played by emotions in decision making:
Providing Information
Improving speed
Assessing relevance
Enhancing commitment
Emotions are difficult to articulate
Visual self-report helps respondents to understand and share with us what they feel using fast,
unprocessed, un-rationalised response.
Emotional drivers and barriers of usage based on regression analysis
“Fresha” is used to identify key
universal emotions
Reaction triggers from the past
R² = 0.5813
0
10
20
30
40
50
60
70
0% 5% 10% 15% 20% 25% 30% 35% 40%
11
Emotional engagement is essential for true loyalty
% fe
lt N
egat
ive
Em
otio
n
Percent Likely to Discontinue Using
Average
Aver
age
Case study
Emotional Engagement Index™ Is an easy way to track Customer Loyalty holistically
EEI Score = 130 and above
High customer
loyalty. Maintain current
activities.
EEI Score = 100
Normal, you are on par with competitive
environment.
EEI score = 70 and below
Brand needs to
increase focus on customer
satisfaction.
Score
13
NPS Score
EEI Under 70 EEI 70-130 EEI 130+
Promoters Passives Detractors
14
You need more than just a score, you need actionable insight
Case study
Love
Proud
Happy
Empowered
Encouraged
Warm / fuzzy
Captivated/Engaged
Attached
Confused
Sad
Lonely
Skeptical
Bored
Indifferent
Angry
Rejected
Disappointed
Difference vs. Average
Learn what drives each emotion
15
The key to boosting loyalty is to increase the feeling that drives behavior rather than just
the behavior itself.