Increasingly, to create sustainable customer relationships, businesses must invest in the emotional needs of their customers, says Dr Mark Ingwer, Founder & Managing Partner, Insight Consulting Group
Businesses have long concentrated on Return on Investment (ROI) metrics to calculate marketing success. However, innovations in neuroscience and developments in social media have revealed that profitability can no longer simply be relegated to sales figures and profit margins.
Increasingly, to create sustainable customer relationships that enhance customer lifetime value, businesses must invest in the emotional needs of their customers. By making this shift, brands will gain a significant ROE – Return on Empathy.