Tag Archives: emotion

How to Unseat the Market Leader: Hit the Right Emotional Chord with Customers

Here’s a tough situation med tech and health IT companies face in healthcare: The maker of a particular technology has more than 75% market share; they are the undisputed market leader.  unseat_pull_the_rug_from_underWhen their device or software was introduced 5 years ago, it was groundbreaking. Now, it’s the standard. But you have something better.

How do you effectively disrupt the market leader’s longstanding domination and win significant market share? The answer lies in the hearts and minds of the clinicians using the technology. You need to carefully and precisely determine which emotional chord will open customers’ minds in order for them to consider moving from the market leader’s technology (the “status quo”) to your new and presumably better innovation.

To reveal the right emotional chord, you must ask the right questions: Are they happy with the status quo? Do they perceive any problems? Can they envision a better state?  These kinds of questions will reveal the “set point,” i.e. where customers are before they know about your better device, service, or software.

In simple terms, there are four main set points based on the idea that customers are either satisfied or dissatisfied with the status quo technology, and they are or are not aware of a possible solution (or better state) a new technology might deliver. Once you know the set point, you need to identify the corresponding emotional chord, so that your messages will connect with customers and resonate at an emotional level. That resonance leads customers to feel understood, which will then open their minds to consider alternatives to the longstanding status quo.

Example: Let’s say customers are satisfied with the market leader’s status quo technology. They aren’t aware of any problems, so they certainly wouldn’t expect new solutions. Your job then is to identify the meaningful problem that: a) your customers will care about once they know about it, and b) your improved technology will solve. (And if no meaningful problem exists, then there’s really no need for your improvement, right? But that’s a different story!).

Once you determine the meaningful problem, be sure to verify customers do care about it enough to take action. Now you need to find the corresponding emotional chord. It could be frustration, as in “why didn’t I know about this problem for all these years!” Or it might be concern, as in “I hope this problem didn’t hurt our patient satisfaction scores!” Or embarrassment at not knowing about the problem. Or relief at knowing about it now. Or hope for a solution to the problem.

There are numerous possible emotional chords, and sometimes the difference between them is very nuanced, like frustration vs. concern in the example above. It’s really important to know with confidence precisely which emotional chord to tap into. Your message to tap into frustration will be quite different than messaging for concern or embarrassment or relief.

If you miss the mark on the emotional chord, then your customers will feel you just don’t get them. You will have missed your chance to open their minds to letting to of the market leader’s technology and to consider your innovation as a viable alternative. On the other hand, when you tap the right emotional chord, you may hear as we have, “Finally, someone understands what I deal with everyday!”  That deep connection is the magic that can unseat the dominant market leader and win you significant market share.

__________________

More resources:

Why Selling New Technology into Hospitals is Hard: Overcoming the Status Quo Bias

The Emotional Hook: How to Win Your Customers’ Hearts

Does “Emotional Connection” Really Belong in Sales and Marketing?

I’ve gotten interesting feedback on a recent post in which I challenged med device and other health tech companies to love their customers. The word “love” in business triggers strong reactions.  Some are put off by the whole topic – it’s too touchy-feely and way outside their comfort zone. A few say that the culture of business is far too cutthroat for companies to risk making love a core value. Others insist that it would never work, that love is at odds with maximizing profits.

So here’s another way of approaching it. No one will argue against the value of establishing long-term relationships with customers, right? It’s proven to be far more profitable in the long haul.

And what’s at the core of meaningful long-term relationships Emotional connection. As my colleague and brand guru Denise Lee Yohn wrote in Forbes magazine: “People decide which brands to buy and which ones to stick with based on how they make them feel. That’s why brands aren’t in the business of selling products—they’re in the business of forging close emotional ties with their customers.”

Emotional connection start with a deep understanding of the problems your customers face, their unmet needs, and the way they want to feel and be. This means suspending your ego and observing customers and really listening to them, with open minds and open hearts. Not easy, but very doable.

There are huge opportunities in the B2B health space for manufacturers to win big by being a partner, not just a vendor. And that requires investing in developing emotional bonds with customers that will keep them coming back year after year. Emotional connection.

How does your company forge emotional ties with customers and creating lasting relationships?