EMO Index is a tool which aims to measure the feelings of a customer, a group of customers or stakeholders towards a company, product or service. It serves as an alternative to traditional customer satisfaction research.
EMO Index is an indicator which measures the emotional state of customers and stakeholders and is a registered trademark of EMO Insights International. In 2012 the Company introduced the indicator in the study Emotional Management in the Spanish Retail Banking Market (Estudio de Gestión Emocional en el Mercado Bancario de Particulares en España[1]). The study was conducted based on 1,968 interviews with retail banking customers, both male and female, aged 18 and over, residing in Spain. The study used neuroscience techniques [2] to analyse the customers' past and current experiences with the banks and the emotions these experiences generated in order to calculate their impact on the customers' behaviour.
How It Worksedit
EMO Index is an individual or aggregate indicator which determines the general feelings of each customer, group of customers or stakeholder towards a company, product or service. It is a combination of the Net Emotional State (balance of emotions felt) and the Net Intensity Balance (intensity with which they are felt) and, therefore, can measure values from -100% to +100%.
Since it is calculated at an individual level, it can also classify customers into seven broad, general emotional states which its creators call EMO Clusters:
Fans (+100 to +80)
Believers (+80 to +55)
Followers (+55 to +30)
Stand By (+30 to +15)
Lost Souls (+15 to -5)
Burned Out (-5 to -30)
Opponents (-100 to -30)
This emotional segmentation model challenges the traditional models used for predicting behaviour based on sociodemographic variables (sex, age, social class, etc.) or classification parameters linked to a specific sector (product purchased, volume of purchases, reasons for purchase, etc.)[3]
Its creators argue that the EMO Index is a more reliable indicator than the likelihood to recommend used by other tools such as the Net Promoter Score. Their argument is supported by a second wave of the study on emotions in banking conducted one year later on 500 subjects who had participated in the previous study. The purpose of the second wave was to determine whether they had recommended the bank to their acquaintances and the following results were obtained:
The classification proposed by Reicheld in his Net Promoter Score (Promoters, Passives and Detractors) is not entirely consistent with regard to what the customers feel or what they say they will do, at least in the Spanish retail banking sector. In particular, it is worth noting that the term "Detractors" includes 62.6% of the customers and, therefore, it does not differentiate between the majority. Moreover, it does not seem to correspond to the emotional state and the stated behaviour of these customers or, at least not all of them. Is the Net Promoter Score (NPS) enough?[4]
^"ING Direct es el banco que causa más emociones positivas en sus clientes" (Press release). Prensa Escorial, S.L. 2012-06-25. from the original on 2015-03-23. Retrieved 2014-12-18.
^"Un estudio analiza las emociones del cliente bancario con técnicas de biometría" (Press release). Publicaciones Profesionales S.L. 2012-06-25. from the original on 2014-10-31. Retrieved 2014-12-18.
^¿Es el Net Promoter Score (NPS) Suficiente?(PDF), EMO Insights, 2013, (PDF) from the original on 2014-10-31, retrieved 2014-12-18
March 17, 2024
index, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, news, newspapers, books, scholar, jstor, november, 2023, lear. This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources EMO Index news newspapers books scholar JSTOR November 2023 Learn how and when to remove this template message EMO Index is a tool which aims to measure the feelings of a customer a group of customers or stakeholders towards a company product or service It serves as an alternative to traditional customer satisfaction research Contents 1 Overview 2 How It Works 3 See also 4 ReferencesOverview editEMO Index is an indicator which measures the emotional state of customers and stakeholders and is a registered trademark of EMO Insights International In 2012 the Company introduced the indicator in the study Emotional Management in the Spanish Retail Banking Market Estudio de Gestion Emocional en el Mercado Bancario de Particulares en Espana 1 The study was conducted based on 1 968 interviews with retail banking customers both male and female aged 18 and over residing in Spain The study used neuroscience techniques 2 to analyse the customers past and current experiences with the banks and the emotions these experiences generated in order to calculate their impact on the customers behaviour How It Works editEMO Index is an individual or aggregate indicator which determines the general feelings of each customer group of customers or stakeholder towards a company product or service It is a combination of the Net Emotional State balance of emotions felt and the Net Intensity Balance intensity with which they are felt and therefore can measure values from 100 to 100 Since it is calculated at an individual level it can also classify customers into seven broad general emotional states which its creators call EMO Clusters Fans 100 to 80 Believers 80 to 55 Followers 55 to 30 Stand By 30 to 15 Lost Souls 15 to 5 Burned Out 5 to 30 Opponents 100 to 30 This emotional segmentation model challenges the traditional models used for predicting behaviour based on sociodemographic variables sex age social class etc or classification parameters linked to a specific sector product purchased volume of purchases reasons for purchase etc 3 Its creators argue that the EMO Index is a more reliable indicator than the likelihood to recommend used by other tools such as the Net Promoter Score Their argument is supported by a second wave of the study on emotions in banking conducted one year later on 500 subjects who had participated in the previous study The purpose of the second wave was to determine whether they had recommended the bank to their acquaintances and the following results were obtained The classification proposed by Reicheld in his Net Promoter Score Promoters Passives and Detractors is not entirely consistent with regard to what the customers feel or what they say they will do at least in the Spanish retail banking sector In particular it is worth noting that the term Detractors includes 62 6 of the customers and therefore it does not differentiate between the majority Moreover it does not seem to correspond to the emotional state and the stated behaviour of these customers or at least not all of them Is the Net Promoter Score NPS enough 4 See also editNet Promoter The Loyalty Effect Relationship marketingReferences edit ING Direct es el banco que causa mas emociones positivas en sus clientes Press release Prensa Escorial S L 2012 06 25 Archived from the original on 2015 03 23 Retrieved 2014 12 18 Un estudio analiza las emociones del cliente bancario con tecnicas de biometria Press release Publicaciones Profesionales S L 2012 06 25 Archived from the original on 2014 10 31 Retrieved 2014 12 18 Alfaro Elena Urio Santiago Martin Vivaldi Gonzalo 2014 An Emotional Business Business Strategy Review 25 3 40 41 doi 10 1111 j 1467 8616 2014 01090 x Es el Net Promoter Score NPS Suficiente PDF EMO Insights 2013 archived PDF from the original on 2014 10 31 retrieved 2014 12 18 Retrieved from https en wikipedia org w index php title EMO Index amp oldid 1185319176, wikipedia, wiki, book, books, library,
