Pricing Strategy Insights & Research | GTM Pricing Innovations

Merriam-Webster defines emotion (noun) as:

a: a conscious mental reaction (such as joy or fear) subjectively experienced as strong feeling usually directed toward a specific object and typically accompanied by physiological and behavioral changes in the body

b: a state of feeling

c : the affective aspect of consciousness

In our Core Concepts post on Value Drivers, we said that “a value driver describes the impact of a product, service, or a set of functionality, on a customer’s business. There are three flavors of value driver: economic, emotional and community.”

Here we will dive a little deeper into the Emotional Value Driver.

Many organizations have shifted their emphasis from focusing on customer satisfaction to forging an emotional connection in order to enhance the customer experience across the full customer journey. Doing this promotes customer loyalty and improves retention. According to a past Forrester report (The Customer Emotions Driving CX Success), emotion is the primary force underpinning the customer experience.

What do we think of when we talk about emotions? In business, emotional value drivers are a critical thinking step towards the value that is driven for customer success and to our clients.

We are all emotional human beings and our emotions drive our individual behaviours and decisions. I feel we can all agree that emotions have quite the significant impact on business and your company’s success. Whether that is within teamwork, customer happiness and satisfaction, manager/employee relationships, and employee retention. In addition, decision-making, planning, negotiating, and critical thinking (Core Concepts: Critical Skill) can all be impacted by our emotional state of ourselves and our brains.

For B2B, emotional value is crucial. Without an emotional connection, it can be very difficult to close a sale or sustain engagement without that emotional connection.

Creating emotional value does matter and shouldn’t be undervalued while making purchasing or pricing decisions.

Read: Why does emotional value matter in B2B?

Bundling

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Customer Lifetime Value (CLV or LTV)

Emotional Value Driver (this post)

Economic Value Estimation (EVE)

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Tiered Pricing Models

Value Cycle

Value Driver

Value Metric