What is the most valuable driver of customer value? Is it awareness, satisfaction or loyalty?
Actually, it is none of these, according to a recent article in the Harvard Business Review. The biggest driver of customer value is an “emotional connection.”
Customers who are emotionally connected to the brand are anywhere from 25 percent to 100 percent more valuable in terms of revenue and profitability than those who say they are “highly satisfied.”
The authors say that customer connection emotionally with brands when the brand resonates with their deepest emotional drives, things like a desire:
- To feel secure.
- To stand out from the crowd.
- To be the person they want to be.