Marketing firm uses emotions to determine how likely you are to buy from their clients
As the holiday season slowly winds down â€” or comes to a screeching halt depending on how long you waited to shop â€” it is interesting to consider how one retailer gains the edge over another. The answer, it turns out, might boil down to emotions.
At least according to New Media Metrics, an analytical marketing firm that quantitatively measures consumer’s emotional attachment to over 350 brands and compiles a list called the Leap Index â€” which stands for “Leveraging Emotional Attachment for Profit.”
This year, according to Forbes, the top ten Leap brands are:
- Victoria’s Secret
- Best Buy
- Abercrombie and Fitch
The strategic marketing firm also has statistics to back up their list. They use independent study data to claim that a customer is 40%Â more likely to pay attention to media they have a strong attachment to. The company also touts that brand attachment makes a person 2.5 times more likely to pay attention to an ad promoting a given brand. ButÂ New Media Metrics’Â home run statistic is this: “Targeted consumers who are emotionally attached to a brand in the media they are emotionally attached to are 3 times more likely to consider purchasing that brand.” In other words, emotions equal sales by pinpointing which customers to work hardest for, New Media Metrics claims this improves Return on Investment and optimizes marketing investments.
So how does it work?
New Media Metrics does not publicly disclose their formula. But Emotional Attachment is measures on a zero to 10 scale and barrows ideas and data from 70 years of academic history.
Speaking to Forbes, New Media Metrics Co-FounderÂ Denise Larson said, “Perhaps the more vulnerable retailers have to revisit their brand positionings and merchandising strategies, because they may not be able to be all things to all peopleâ€“unless youâ€™re the market leader.”