Emotions are an increasingly important element in company strategy. The change in consumer habits and interests have made them a new currency with rising value and one that companies seek more and more actively. Consumers now hope to establish much closer relationships with brands and much closer, while companies themselves have to face an environment in which it is increasingly difficult to position themselves and in which it is more and more difficult to call the attention above the messages of other brands. Each time the competition is greater, each time the relationships between brands and consumers are more ephemeral and each time users expect more from the products and services they use.
Brands have to be something more and the things they sell have to go beyond being simply products. The relationship between one and the other is increasingly complex and demanding and brands are increasingly in need of Senegal Phone Number List creating strong and powerful links. And one of the elements that generate the closest and most solid bonds are emotions. Emotions work as a very powerful tool that makes consumers feel closer ties with brands. There are the lovemarks, the brands that consumers love, to prove it. Buyers are loyal to these companies over the years and often also ‘pass them on’ to their children and grandchildren. It is very difficult that, once a brand enters the list of lovemarks, the consumer goes over to their competition and stops consuming that brand.
But the truth is that emotions not only have an effect on how the consumer relates to the brand, but they also have a direct impact on what they are or are not willing to spend on a product or a brand. If a product has managed to establish an emotional connection with the consumer, if the consumer associates the product with an emotional moment in their life or the consecration of emotion (for example, with engagement rings … no matter how much they give as a gift a diamond is an invention of the advertising industry), the price you are willing to pay for the product is higher. In other words, the price is no longer relevant when what comes into play are emotions.
The power of love to drive spending
The idea is clear when certain behavior patterns and certain consumption elements are seen at certain specific moments in consumers’ lives, although a study carried out by the University of Colorado Boulder is now added to the perception. This study pitted consumers against discounted products and non-discounted products when it came to highly emotional shopping. Although objectively consumers recognized that the cheapest products were equally interesting and ‘desirable’ at the moment of truth they were not made with them. Between two products, consumers bought the most expensive. “The buying behaviors of people when they make purchases marked by love change because they feel that it is wrong to take saving measures”, explains Peter McGraw, the head of the study. Consumers not only avoid the cheapest products but also renounce behaviors or actions that are common in their ‘day-to-day’ purchasing processes. Thus, they avoid being proactive in finding low prices and discounts or negotiating discounts.