Temkin Group Will Award $1,000 For Innovative Ideas That Improve Customer Loyalty By Creating More Positive Emotions
Temkin Group announces the launch of its Intensify Emotion Challenge. To help organizations understand the importance of emotion in building loyalty with customers, Temkin Group has established a new site, IntensifyEmotion.com, allowing people to share innovative approaches.
To accelerate the flow of ideas, Temkin Group will award $1,000 for the top concepts. Temkin Group will award $250 Amazon.com gift certificates to four people who provide the most innovative ideas for improving customers’ emotions. Temkin Group will announce the winners at the end of August 2016 on IntensifyEmotion.com and on the Customer Experience Matters® blog.
“Customer emotion is a key driver for loyalty, yet is often an overlooked and underserved component of customer experience,” states Bruce Temkin, Managing Partner of Temkin Group. “We hope that the Intensify Emotion movement motivates people to focus more on their customers’ emotions, which our research shows will generate higher levels of loyalty.”
Temkin Group regularly researches consumer behaviors and company activities. According to several of Temkin Group’s research reports:
- Emotion is the weak link of customer experience. The Temkin Experience Ratings evaluates the customer experience of 10,000 U.S. consumers across three areas: Success, Effort and Emotion. The average Emotion score of 293 companies is 56%, while other areas of the experience had an average score of 70% (Temkin Group report, 2015 Temkin Experience Ratings).
- Emotion is a critical driver of customer loyalty. 87% of consumers who gave a high rating for Emotion are likely to purchase more, compared with only 13% of those who gave a low rating. That 74 percentage-point loyalty gap is larger than it is for both Success (66) and Effort (67) (Temkin Group report, ROI of CX, 2015).
- Companies often ignore emotion. In a survey of nearly 200 professionals from large organization, only 29% of respondents say that they are good at measuring their customers’ emotion (Temkin Group report, State of CX Metrics, 2015).
Temkin Group encourages people to visit IntensifyEmotion.com, tweet about customer emotion using the hashtag #IntensifyEmotion, and participate in the Intensify Emotion Challenge. The site will also provide links to valuable Temkin Group content on different aspects of emotion. Individuals can also download a digital badge from the site if they “Pledge to Intensify Emotion” in their organizations.
Winners of the Intensify Emotion Challenge will be selected by Temkin Group based on its evaluation of the ideas submitted on the Website.