worlds largest database part 2

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World’s Largest Emotion Database: Part 2B2B/ B2CEurope vs. USA (FS)Beyond Philosophy

Steven Walden, Senior Head of Research and Consulting


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The Beyond Philosophy Perspective

Customer Experience is all we do!

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Focus on the emotional side of Customer Experience

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Experience Value is Emotional Value

4Ps rationalunderstanding

Sub-conscious& Emotional

understanding

Customer Satisfaction

Emotional Signature

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The Evidence from Neuroscience

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Patients with damage to certain regions of the frontal lobe suffer from an inability to appreciate negative outcomes. Though they can reason logically, their decision-making ability is flawed.

They have lost emotional reactivity at a high level; they can no longer sense, for instance, embarrassment or guilt or pride or shame. They have lost their ability to feel emotion relative to the future consequences of their actions and thus are no longer able to qualify their choices as "potentially good" or "potentially bad."

Professor Antonio Damasio

When making decisions in the future, physiological signals (or ‘somatic markers’) and evoked emotions are consciously or unconsciously associated with their past outcomes and bias decision-making towards certain behaviors. When a somatic marker associated with a positive outcome is perceived, the person may feel happy and motivate the individual to pursue that behavior. When a somatic marker associated with the negative outcome is perceived, the person may feel sad and act as an internal alarm to warn the individual to avoid a course of action. These situation-specific somatic states based on, and reinforced by, past experiences help to guide behavior in favor of more advantageous choices and therefore are adaptive

In contrast to economic theory, the somatic marker hypothesis proposes that emotions play a critical role in our ability to make fast, rational decisions in complex and uncertain situations.

Decision-making is devoid of emotions and involves logical reasoning based on costs-benefit calculations

Assumes that individuals have unlimited time, knowledge and information processing power and can therefore make perfect decisions.


Four Clusters of Emotions Drive or Destroy Value

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The 2 years of baseline research produced the framework against which we will compare your experience. The baseline model identified 20 emotions clustered into 4 hidden factors and that drive/ destroy value for business.


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The DNA of customer experience: how emotions drive value

“The case for focusing on emotionas a philosophy for building a betterexperience for customers as presented in the book is a compellingone.

The methodology for undertaking the necessary emotional analysisis practical, simple, potentially veryeffective, and enables organizations tobenchmark themselves by sector and'best practice'.

International Journal of Market Research Vol. 53 Issue 1, Peter Mouncey, Editor

Independent, Peer Reviewed Endorsement from the leading Journal for Market Research

Endorsement from Research Industry Magazine

http://www.research-live.com/magazine/why-we-must-measure-emotion/4003434.article


Scale development with Professor Voss of London Business School, Professor Raymond (Chair of Experimental Consumer Psychology at University of Wales) and Dr Miles (ex- York University) now Quantitative Psychologist and RAND corporation

Endorsement from the Market Research Industry

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The 2 years of baseline research and subsequent 3+ years of client work has resulted in the world’s largest fit-for-business emotional database

The Emotional Signature® system has been independently corroborated and validated

It looks not just at the Past

But perspectives on the future

The Worlds Largest Database of EmotionsEmotional Signature® Database (N=25,000)

Benchmarking


EMOTION DATABASEThe Findings



Business to Business View



You’re Fired!

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Can I do business with you?



A Question of Semantics

How important is Relationship in your Business to Business dealings?

How important is Trust in your Business to Business dealings?



The Emotional Profile (N=25,000)



Emotions Matter Just as Much In Business as in Consumer Markets

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This should not be a surprise. Emotions enable us to make fast decisions in conditions of uncertainty, without emotion there is no rationality. They are ‘in the loop of reason’ not separate from it, they guide our view of what IS rational



B2B is Emotionally More Attentive to Risk and Uncertainty

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Disaster recovery

Can I trust these people?

Personal rapportLong-Run

Business Critical



The Failure of Perspective



Internal Bias Towards Controlling Losses



Which do you forgive when things go wrong?



LoveMarking your B2B Experience

“A senior executive in the air travel industry relayed how a billion dollar order had been placed with a more expensive supplier on the strength of some strong advocacy by another customer. The supplier, they said, had “dug us out of a hole” when aircraft had been expensively grounded through no fault of the supplier, throwing substantial resources fast at getting the planes back in the air and saying that issues of negotiating payment could wait until the crisis was solved.”



Reasons for the Difference

B2B is more personal, its about my job B2B is about attention and managing uncertainty due to the

costs to my business B2B as with B2C controls negative emotions to the same extent

– they would not be in business otherwise B2B as with B2C has a cultural impediment to thinking about the

positive emotions even though they are NOT mutually exclusive



The Emotional Profile (N=6,000)USA and Europe Financial Services Industry



The Emotional Profile (N=6,000) USA and Europe Financial Services Industry

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USA are less Positive

USA are more Negative



The Emotional Profile (N=6,000) USA and Europe Financial Services Industry (B2C)

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Best Performance is no more than Bland. Focus in Europe on reducing Negatives USA Poor on both Positives and Negatives This measures the emotional effect (as recent data) of Credit Crunch

& Poor Business ethics – question: how can you move the trust dial



Reasons for the Difference

There IS a cultural difference in this sector that does not conform to stereotype

However, even the stereotype hits no more than Bland There remains a glass half empty perspective in both markets



Measurement : Do you have a 360 degree view?

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Measurement without Emotion:

1. Misallocation of resources

2. Lack of market differentiation

3. Everyone focusing on the same thing

4. Lack of creative pull (lets control rather than lets create)



To Be Released

Industry level data-cuts Best practice companies by specific emotion Touchpoint drivers of emotion



Questions or ideas?Contact

Thank You

Steven WaldenSenior Head of Research and Consulting

Email: [email protected]

Tel USA: +1 678-638-3050

Tel UK: +44 158-263-5007

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