What is Emotional Value Index (EVI®)?

The Emotional Value Index (EVI) is a standardized way to measure the emotional experience of customers. It provides a more comprehensive understanding of customer behavior beyond traditional metrics like NPS and CES.

Just like any other standardized KPI, first, you would need to survey the data. The emotional value index has a standardized question and emotion options that the customer chooses from. The customer selects the emotion that is closest to the emotion that the customer experienced within your service.

The index is calculated by categorizing emotions into four clusters based on their effect and amplitude, assigning values of -1, 0.33, 0.66, or 1 to each cluster. The weighted average of each cluster is then calculated based on the frequency of customer selection, resulting in a number between -1 and 1. This number is typically transformed into a scale of -100 to 100 for presentation.

To calculate EVI, businesses need to identify the emotions they want to drive in their customers and find a way to measure them. While the calculations behind EVI are relatively simple, automating the process can make it even easier. E.g. software like Feedbackly can help you with this.

The benefits of EVI are numerous. By measuring the emotional experience of customers, businesses can gain a better understanding of what drives customer behavior and tailor their strategies accordingly. This can lead to increased customer loyalty, higher satisfaction rates, and ultimately, increased revenue. In today's market, where customer experience is becoming the main driver of purchase decisions, measuring the emotional experience of customers is more important than ever.

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