RR 12 | Rewind Interview with Brian Carroll on Empathetic Marketing
In this episode, we return to our conversation with Brian Carroll, who spoke to us in our very first Rethink podcast last year about the concept of empathetic marketing.
Why should you care about empathetic marketing, you ask? Well, your customers want to be treated like they mean more than just their contribution to your revenue statement. They want to know that you truly understand their business challenges, and that you are actively doing what you can to help them.
When they feel you committed to them, they will be committed to you beyond their initial contract or transaction. Research from Frederick Reichheld of Bain & Company, inventor of the net promoter score, and published in the Harvard Business Review, has found that acquiring a new customer is anywhere from 5 to 25 time more expensive than keeping a current customer. And by increasing customer retention rates by 5% increases profits by 25% to 95%.
Brian is the founder and CEO of markempa, a consulting and training company that helps improve how organizations acquire and grow customer relationships with applied empathy.
For Brian, empathetic marketing boils down to providing your customers an amazing experience through the not-so-subtle shift of asking how you can help – instead of telling them how you will help.
How Marketers Can Start Today
We ask him for a few tips on how marketers can get started today embracing empathetic marketing in their businesses. He suggested three tips:
- Change the tone of your email marketing and other customer communications to be more customer-focused
- Ask your customer-facing team members – such as sales reps or customer support reps – what questions they are being asked by your audience
- Get out of the office and go see firsthand how your customers are using your product or service, and see what challenges they are experiencing
Enjoy the conversation, and we hope you can get one or two takeaways that you can bring to your business.