“Emotional intelligence (EI) is the ability to accurately identify and understand one’s own emotional reactions and those of others, and to regulate one’s emotions and to use them to make good decisions and act effectively.”
Our emotions influence our behavior and our behavior influence our actions.
What most people don’t recognize is that shopping is an emotionally charged experience for both the customers and the company. How customers feel when they transact business influences how they feel towards the company as a whole. In fact, the most instances when people get irate are when they transact business.
Customers can be very unpredictable. There are so many factors that influence how customers behave – previous experiences, current trends, fad, economy, technology, and what not. Customers being an important asset, it is important to understand how they behave and what impacts their behavior. With the right information, we would be able to increase the chances of predicting future behavior.
In Daniel Goleman’s book “Emotional Intelligence”, he identified five domains of EQ.
1. Knowing your emotions.
2. Managing your own emotions.
3. Motivating yourself.
4. Recognizing and understanding other people’s emotions.
5. Managing relationships.
These five domains can be utilized to have a better understanding of your customer’s EQ.
1. How do your customers feel about your products, services, personnel, and company as a whole?
2. How can you manage your customers’ emotions?
3. How can you motivate your customers?
4. How can you recognize and understand your customers’ emotions towards how you make them feel?
5. How can you manage your relationship with you customers?
Discerning customer behavior that influences their actions from pre-purchase, to actual purchase, to post-purchase which also includes meeting your company’s brand promise will help you how know to act appropriately. You decisive actions can either make or break customer satisfaction.
Studies and research have shown that majority of customers discontinue transacting business with companies if they experience bad service, undesirable interactions, unresolved concerns, high level of effort, and no “extra mile”.
ExitShopping® has the necessary tools to measure and gain insights to your Customer EQ. With the vast information that we can gather to help you know your customers better and how they feel about your company, you can take appropriate actions to ensure high customer satisfaction, loyalty, build a stronger and lasting relationship with your customers, and help reduce possible churn.