We know that each and every customer engagement has implications for your brand, and those interactions are indispensable when building emotional equity.
Emotional equity defined
Emotional equity can be thought of in terms of connection. It is a way for your business to move beyond being a means to an end, and move into the emotional powerhouse of your consumers' minds through establishing a true connection.
It can be built by showing your customers that you know and care about what they want, by showing them empathy, and by fostering a relationship-oriented experience.
Importance of emotional equity
It’s important to create meaningful, positive experiences through your brand’s identity— your design, products/services, personality — throughout the company’s marketing, voice, and in-person interactions to build strong brand equity.
Emotional brand equity is essential to establishing yourself as an authentic and trustworthy brand. It’s a way to break through the clutter with storytelling. Humans relate to stories and establish a connection through them.
Leverage this tactic to create that lasting connections with your audience and see the emotional equity for your brand begin to grow. Beyond that, increasing a brand’s emotional equity can raise customer value and revenue.
Based on a study done to quantify the value of emotional connection, Harvard Business Review found that strategies that maximized emotional equity resulted in customers who were six times more likely to do business with a company and stay with them over competitors.
Between obtaining higher revenue, raising customer value, fostering customer loyalty, and establishing trust between your brand and your customers, building emotional equity is a business best practice that can take your brand to the next level.
Here are some tips on how to build up emotional equity for your brand.
4 ways to build emotional equity
Utilize inbound marketing strategies
The inbound methodology involves attracting, engaging, and delighting customers by creating valuable content and experiences that are tailored to them, according to the marketing experts over at HubSpot.
This strategy centers around creating connections with a company’s target audience and consistently delighting them by solving the problems they face.
Treat your customers like you would treat a friend
You want your customers to know that you get them on a deeper level than just a business transaction.
Get to know your target market:
- What they like to do
- What they value in a company
- What their needs are
Treat them like you would treat someone you know and care about to help them the best you possibly can.
Use the power of your brand story
Every brand has a story behind what they do and who they are. Find ways to tell people that story through design and brand identity systems, like Upslope Brewing does through their retail packaging.
Build positive relationships with employees
Employees can be some of the biggest advocates for telling your brand story. If their relationship is positive with the company, they are much more likely to contribute to crafting a positive customer experience.
A few ideas to building a positive relationship with your employees include:
- Positively recognizing high-performers with tactics such as gift kits and rewarding employees who hit milestones such as anniversaries or reaching sales goals
- Hosting employee-focused events and holiday parties
- Getting involved in community activities. Community involvement can give your employees a send of social connectedness and give your customers an opportunity to emotionally connect with employees outside of the work environment.
- Establishing clear ethos and values that your employees can connect to. People who feel like they are a part of something bigger are often more willing to go the extra mile with customers, and in turn, create positive relationships that will improve your emotional equity.
These suggestions can work to create a positive culture that can ultimately promote more positivity throughout your employee’s interactions with customers.
Create an immersive experience
Here at Anthem, our experts can help you create a branding strategy that builds emotional equity and drives growth for your brand through authentic connection.