In 2012 the Company introduced the indicator in the study Emotional Management in the Spanish Retail Banking Market (Estudio de Gestión Emocional en el Mercado Bancario de Particulares en España[1]).
The study was conducted based on 1,968 interviews with retail banking customers, both male and female, aged 18 and over, residing in Spain.
Since it is calculated at an individual level, it can also classify customers into seven broad, general emotional states which its creators call EMO Clusters: This emotional segmentation model challenges the traditional models used for predicting behaviour based on sociodemographic variables (sex, age, social class, etc.)
)[3] Its creators argue that the EMO Index is a more reliable indicator than the likelihood to recommend used by other tools such as the Net Promoter Score.
The purpose of the second wave was to determine whether they had recommended the bank to their acquaintances and the following results were obtained: The classification proposed by Reicheld in his Net Promoter Score (Promoters, Passives and Detractors) is not entirely consistent with regard to what the customers feel or what they say they will do, at least in the Spanish retail banking sector.