An article by Marc Beaujean, Jonathan Davidson, and Stacey Madge of McKinsey, highlights just how important customer facing staff are in making an emotional connection between a client and a supplier’s ‘brand’ and how that connection, that spark, can drive profitability.
The article emphasises just how important it is for customer facing staff, at all levels, to be trained to have high levels of Emotional Intelligence in order to make it easy for people to connect with clients; especially when the client has a major problem. In the view of the authors, high emotions (caused by a big problem) plus a great response are what really drive customer loyalty. In one study a bank in North America found that a 50% gap between the best and worst branches, as measured by ‘share of wallet’ and customer retention stats, was accounted for by the ability to solve customer problems effectively. Interestingly the research showed that this ‘solving problems effectively’ sometimes meant prioritising the customer’s need over the banks sales targets. However that customer focus translated, over time, into a larger share of the customer’s banking business.
You can take a look at the full article HERE
And if this topic interests you, you might like to consider how our one-day Essential Customer Care programme could help you and your people build customer loyalty through improved soft skills and better emotional intelligence…
All the best,