Businesses have cited ‘confident optimism’ as the key ingredient to successful business relationships
A report – conducted by gyro and the Financial Times – aimed to uncover the emotions behind business decisions and relationships in what can sometimes be a data and tech-heavy industry.
The Business Feeling Index: The Feelings that Move Business Forward
claimed despite a heightened global climate of uncertainty, confident optimism can be a powerful tool, and is achieved when decision-makers are assured of expertise and a partner’s value to their business.
Christoph Becker, global CEO and CCO at gyro, commented: “The reasons behind the choices we make aren’t easily measured. Real people are tribal and emotional.”
There are a number of characteristics that create this sense of optimism
The report uncovered that content, culture, crisis management, communication and a strong conclusion all instilled confidence in a decision-maker.
Customers deem content as proof of expertise and how innovative a business’ thinking is. This led to 70% of respondents to claim thought-leadership is a top priority in the research stage.
Company culture was similarly deemed as an influential factor with 83% believing it was the most important attribute when selecting a partner.
More than three-quarters of respondents felt good communication is the glue to relationships, and this is also valuable when relationships aren’t in a good condition. The study reported the successful handling of crisis situations could strengthen relationships with 86% believing the first moment of friction in a business relationship is when you really find out the authenticity of your partner.
Another 65% said once a business relationship begins to wind down, they want to be able to walk away feeling accomplished.
The report pinpointed elements that could be detrimental to optimism
There were three major characteristics that deterred a decision-maker from feeling optimistic and signing a deal, which were uncertainty, overpromising, and arrogance.
A sense of uncertainty was the biggest turn-off, with 77% agreeing it had a negative impact on their view of a company.
While customers are looking for businesses to smile about, the report showed they’re also looking for a partner who is realistic. Overpromising (69%), arrogance (61%) and a lack of transparency (53%) were all viewed as undesirable traits.
Becker from gyro, said there was a lot that businesses could learn from these results: “One fact is certain: now, more than ever, marketers must focus on what their customers and prospects are feeling and deliver in a way that makes them feel both confident and optimistic. Human relevance in marketing has never been more valid and more necessary.”
The report studied the views of 315 Financial Times readers who worked at director level.