Technology is developing faster than ever before and this is one of the reasons why Customer Experience and managing it has become a competitive advantage of the businesses that win in the long term. In order to manage it, you need to measure it. Leaders in CX know it and this is what differentiates them from the average business. But there is one thing that even the leaders are still learning about – how to measure Emotional Experience.
Purchase decision making has turned into more emotion, experience and customer journey based, but the methods businesses use today for measuring experiences are still on the level they were back in the 70s. Customer behavior has changed and it’s time to keep up with it. Are you keeping up with the new trends?
If you read this, you probably agree that human behavior has changed. This is why we have put together this webinar and invited two Emotional Experience pioneers, Minna Killström and Jaakko Männistö, to talk about what is Emotional Experience, how it is impacting your business revenue, and how you can measure and manage it.
Ph.D. of Economics, Nonfiction Author, Customer Experience Professional Minna is a CX developer and expert interested in people and emotions. She has experience in business development, consulting and marketing. As a sign of her commitment to human behavior’s impact on business, Minna has a Ph.D. in Strategic Communication.
Jaakko Männistö
Awarded CX Leader, Founder, Researcher Jaakko is a startup entrepreneur and an internationally awarded CX professional. Jaakko is a founder and CEO of Feedbackly, co-founder of CX Academy and CXforum. He also is one of the developers of the Emotional Value Index (EVI®) measurement framework and a global front-runner in Emotional Experience.
Teknologian kehittyessä entistä nopeampaa, asiakaskokemuksesta ja sen johtamisesta on tullut tärkein pitkän aikavälin kilpailuetu, jota myös halutaan johtaa ja mitata. Sen vuoksi mittaamisesta on tullut suositumpaa kuin koskaan, eikä syyttä. Teknologian nopeassa kehityksessä vain harvat yritykset pystyvät kilpailemaan puhtaasti teknologian pohjalta ja jättämään asiakkaan huomiotta. Asiakaskokemus on uusi kilpailuetu, joka ratkaisee sen, pysytkö kilpailussa mukana vai et.
Ongelma on se, että vaikka ostokäyttäytyminen on muuttunut tunne-, kokemus- ja asiakaspolkuvetoiseksi, mittaamme asiakaskokemuksia yhä kuten 70-luvulla. Liiketoiminta ja ennen kaikkea asiakas muuttui, mutta me jäimme viime vuosituhannelle.
Jos luet tätä, olet todennäköisesti samaa mieltä.
CX Forumilla on ilo esitellä, ensimmäinen suomenkielinen webinaarimme, jossa mukana keskustelemassa kaksi tunnekokemuksen suomalaista pioneeriä, Minna Killström ja Jaakko Männistö. Käymme läpi mitä on tunnekokemus, miksi se on tärkeää juuri sinun liiketoiminnalle ja miten sitä voi johtaa ja mitata. Minnan ja Jaakon käytännönläheinen lähestyminen aiheeseen on saanut kiitosta ja vetänyt maailmalla suuria yleisöjä.
KTT, Tietokirjailija ja asiakaskokemuksen ammattilainen Minna Killström on ihmisistä ja tunteista kiinnostunut asiakaskokemuksen kehittäjä ja asiantuntija. Hän on työskennellyt liiketoiminnan kehityksen, konsultoinnin ja markkinoinnin parissa. Minna on myös strategiaviestinnän vastaanottamisesta väitellyt kauppatieteiden tohtori.
Jaakko Männistö
Palkittu CX johtaja, Founder, Tutkija Jaakko on startup-yrittäjä ja kansainvälisesti palkittu asiakaskokemuksen mittaamisen ammattilainen kasvuyhtiö Feedbacklyssä sekä Suomen suurimman yrittäjien digitaalisen yhteisön Yrittäjä.io:n perustaja. Hän on myös Emotional Value Index eli EVI® -mittariston kehittäjä ja tunnemittaamisen globaali edelläkävijä sekä yksi CX Forumin perustajista.
There’s no doubt that emotions play a significant role in our purchasing behaviors. All of us have made at least one impulsive purchase in our life because it made us excited or happy. Similarly, we have also walked away or given up purchasing due to negative emotions.
For businesses, this emotional gratification or dissatisfaction is a treasure trove of customer data, and in this article, I will explain why!
What is Emotional Experience?
Emotional Experience (EE) looks at how customers feel about your brand and its product(s). While customers can experience different emotions throughout the customer journey, EE looks at the overall emotional perception. Measuring emotional experience can help businesses elevate customer experience and generate more revenue.
How to Measure Emotional Experience?
The idea of measuring emotions might sound like a surreal concept. But, fortunately, there’s a standardized way to measure them, and it works! The Emotional Value Index (EVI®) is the metric that measures customers’ emotions at various touchpoints as well as the entire customer journey. The EVI® survey asks customers and leads to specify the emotion they feel at different stages. For this, you need to select a common set of emotions associated with buyers, track the responses, and derive a value using the EVI® formula. If you want to learn more, click here.
Why Should a Business Measure Emotional Experience?
It can be used on any level of CX measurement
One of the main benefits of EVI®, when compared to other KPIs, is its versatility. You can apply it both at the micro and macro-level and gain valuable insights into customer behavior. At the micro-level, it can be used to assess the quality of individual touchpoints and understand individual customer relationships. It is a vital tool for businesses to provide personalized experiences. At the macro-level, it gives you a holistic view of your brand, which will show how your brand is perceived in one glance.
It can be measured throughout the customer journey
Unlike NPS, which is suggested to be used only post-purchase, EVI® surveys can track customer behavior from the moment they come in contact with your store until the end. EVI® can be applied at any touchpoint or phase in the customer journey as customers deal with emotions from beginning to end. The ultimate goal is to induce a consistent or near consistent influx of emotions in customers as they move from one stage to another. You also streamline the measure of CX by using one metric to track all stages, and it avoids the disparity that brands face when using separate metrics for each phase.
It gives you a deeper insight into why people take specific actions
Emotions govern our purchasing behavior, and when they are downplayed by pain points or elevated by fabulous service, we take different actions. Through EVI®, you understand what compelled the customer to choose your brand, ditch their cart halfway through, or come back for another purchase. Thanks to the very exact emotions that are measured, EVI® makes it easier for brands to adapt to customer requirements and serve their best interests. It would also help you upsell better by understanding different customer personas and targeting those who prefer premium or combined purchases.
It can be enriched with your sales data for better revenue
Integrating the EVI® data with your sales data can help you understand the correlations of different emotions with revenue. EVI® analytics will help you identify what emotions drive the highest sales and focus on delivering a high-quality service that triggers the specific emotion. These actionable insights are vital for any business that strive to generate more revenue with happier customers. Similarly, EVI® also helps brands understand the true cost of dissatisfied customers.Did you know that customers who feel positive emotions towards your products and services spend up to 40% more compared to those who feel negative? This is groundbreaking and makes it a no-brainer that Emotional Experience measurement is important. If you would like to learn more about it, I also suggest checking out this very comprehensive free ebook about Emotional Experience and EVI®.
One of the biggest questions regarding the collection of customer feedback is: How can you make customer feedback work for your business?
In this webinar, we will tackle this question and help you understand how to collect quality data from your customers, how to spot opportunities from your happy and unhappy customers in order to drive sales, boost customer loyalty, and reduce churn.
Join us on October 27th to learn about how to spot sales opportunities as well as how to reduce churn using your customer feedback.
This webinar is brought to you by CXforum partners Carepage and Feedbackly.
Troy is Director of Customer Acquisitions at Feedbackly, one of the most flexible Customer Experience management platforms available. The Feedbackly team has helped many industry leaders across the world succeed with their CX programs and become CX front-runners. Among the many, they have helped the City of Helsinki, Merck, Innovasport, the Australian Government, Banregio. Troy will share his experience and the learnings of Feedbackly about how winning companies use their customer feedback to increase sales and reduce churn.
Reputation’s CX Strategy Director, Chris Sparling will look at where CX sits in 2021’s ever-evolving world. How can businesses of all sizes use the omnichannel feedback of their customers, from both structured and unstructured sources, to improve their operations and turn these improvements into directly attributable revenue?
And what are the other reasons why businesses would want to do this? The experiences of your customers can also be used to attract new customers and help to showcase your brand online; Chris will also cover how brands can truly understand the insight behind the feedback, and use that insight to attract new customers to continue growth, and look into some of the common challenges when it comes to monetising feedback.
Join us on September 22nd to learn about the connection between your customer feedback and your business reputation, and how CX leaders turn this customer feedback into attributable revenue.
Chris Sparling, CX Strategy Director at Reputation
Chris Sparling is a 15-year veteran of the Customer Experience sector. Chris gets the most satisfaction from helping others find solutions that make them more successful, and situations where he can apply his skills to many situations. Chris has extensive experience within Retail, Hospitality, Automotive, Travel, Call Centres, and Digital/Technology sectors, in a range of businesses. Some of Chris’ key strengths and experience lie within CX strategic planning, CX program design, strategic relationship building, storytelling through data insights, sales pitching, SaaS, client relations and big data. His last role was at InMoment where he held a number of roles across a 10-year stint with the business. In his current role, Chris works with Reputation as their CX Strategy Director, and has been with the Silicon Valley-headquartered business since September 2020. He lives in Derbyshire, the UK with his wife and two daughters.
This webinar was live on September 22nd, 2021. We are happy to see the interest in the topic was big. Huge thanks to all the registrants and participants!
Measuring CX is more popular than ever, but only a few businesses are following the main principles of Customer Experience Analytics and actually getting valuable insights from the customer feedback gathered. It doesn’t need to be that difficult and we have invited two experts to show you how simple it can be!
We have invited a Customer Experience professional and an expert in world-class reporting to show how leading businesses around the world ensure that customer feedback they are gathering is easy to understand and actionable. They have found 7 principles that the winners are following (and you should follow) to make sure that everyone from your web store manager to C-Suite is able to make sense of your CX data and use it in decision-making.
Join us on August 31st to find out the main rules of Customer Experience analytics that leading companies around the world are following to make customer feedback actionable on any level of a company, from C-Suite to a store manager.
Troy is Director of Customer Acquisitions at Feedbackly, one of the most flexible Customer Experience management platforms available. The Feedbackly team has helped many industry leaders across the world succeed with their CX programs and become CX front-runners. Among the many, they have helped the City of Helsinki, Merck, Innovasport, the Australian Government, Banregio. Troy will share his experience and the learnings of Feedbackly about how winning companies make their data actionable.
Mieke Houbrechts
Mieke is the Marketing Manager of Cumul.io, a software platform providing powerful embedded analytics solutions for SaaS platforms & enterprises. Mieke and her team have helped SaaS businesses and enterprises globally to make their data easily accessible and interpretable for their customers through interactive, embedded visualizations. They’ve helped companies like Selligent Marketing Cloud, Proximus and the City of Antwerp save months of development time.
This webinar was live on August 31st, 2021. Big thanks to all the registrants and participants. We’re thrilled that the webinar had almost 400 registrants! Thank you!
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