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Archive for the category “Response”

Learning By Listening. New Services Delivering. Better Customer Experiences.

There’s a lot of talk these days around companies needing to listen to customers, even if many of these customers are wrong. At Future Lab, John Cadell lists out a few reasons. Elsewhere Peter Kim pointed us to a review by Forrester of listening technologies. He goes on to add that the future lies for companies who go beyond offering just products. He feels the need of the hour is to offer services around such products. On the 1 to 1 blog is another interesting tidbit about customers helping other customers. How when the designated Comcast employee was on leave for a day, his colleagues who were also on Twitter picked up from where he had left off and continued to support those in need. Not long ago, we had written a piece on how companies can help customers help themselves. On Jerimiah Owyang blog is a list of white label social networking products. Yes there’s an explosion of such services. Needless to say companies need to do their best to keep their ears to the ground and computers logged in.

Bank Of Twitter

Bank of America becomes yet another bank to embrace Twitter with a customer service stream. Manned by customer relations specialist David Knapp, customers can tweet him if they have problems with their accounts or general questions. Wachovia, which in August started an account to seek out and serve customers on this micro blogging platform, now has over a thousand followers. While some banks have active twitter accounts, there are others who have created accounts and not followed up on it. Read more in Finextra.

Do you have a customer experience management checklist?

1 to 1 Marketing Editor Ginger Conlon was at Strativity Group’s two-day customer experience management (CEM) certification course and came away with a list of things to do for companies looking to make CEM a part of their DNA. She suggest that companies value customer not from a market share perspective, but from a relationship perspective. “How many unprofitable customers”, she asks, “are you doing business with in the name of market share?” A one-size-fits-all is the enemy of any customer-centricity program. And unfortunately for many companies, it’s the prospect not the customer who’s king. When companies are asking customers to be loyal to them, they have to be ready to reciprocate. One of the interesting examples she cites is that of Apple and iPod, when they launched the device, they also made iTunes available–in other words, a complete customer experience: a device, software, legal downloads, and more. Apple was never in the music business, but they had to re-imagine the music business so that they could become the dominant player in the device market. So, when considering what more your organization can do, ask yourself, “Are there mature and tired markets, or just tired executives? She also suggests that for companies to roll out successful CEM programs, they need to listen to customers, and to ensure that every employee in these companies learn that customers are their most valuable asset. Read more on the 1 to 1 blog.

Power Point As A Strategic Design Tool

Is poor quality power point presentation making your work less impressive. Take help from Alex Osterwalder. His timely little presentation on Good Power Point is simple and interesting. Alex believes that he can attribute most of his success to the time and effort he puts into his presentations. Learn from the PHD in PPT. Check out his presentation on designing better presentations. Also of interest, making presentation with the brain in mind, excerpts from the book Brain Rules.

Choose Your Own Ads

LinkedIn has been getting a bit of buzz these days. After having opened up its platform for their party applications like Slideshare, LinkedIn has announced a self-service advertising that gives participants of the program the ability to choose and display the kind of ads they like. Read more on the LinkedIn blog.

The Real Worth of Customers

In its study, The ‘Wallet-Share’ War: Measuring Customer Value and Profitability, Aberdeen surveyed 280 companies across industries to understand how they approach customer profitability. The findings, unsurprisingly, say that best-in-class companies share the use of analytical and precision marketing tools to measure and increase customer value and profitability. While no “magic bullet” emerged as a way to manage customer value effectively, the study identifies four measurements that when analyzed together show a useful customer picture: customer retention rates, customer turnover/churn, return on marketing investment (ROMI), and customer acquisition costs. More than 7 out of 10 have implemented or are planning to implement solutions to identify and segment high-value customers. This includes customer dashboards, real-time analytics, and both descriptive and predictive statistical modeling. The study mentions Australia Post as an example of a company leveraging customer value metrics. It uses both financial (revenue) and non-financial criteria (mail volume, length of contract, cross-product purchases) to profile and group its top customers. With this insight, the organization offers flexible pricing and personalized messages to its best customers. Senior managers are responsible for the customer experience and customer profitability remains a top executive priority. Read more from 1 to 1 magazine.

Brands and Social Networks

In what is being called as the first comprehensive research study on social networks and marketing, MySpace, Isobar and Carat USA have found that more than 70% young Americans between 15-34 are using social networks online. The research showed social networking sites taking a strong foothold in the primetime hours; enriching existing relationships with family and friends; and initiating meaningful brand connections. As part of the study, Marketing Evolution — a marketing ROI measurement and consulting firm for leading global brands — delved into the impact of social interaction on campaigns within MySpace. The research found that brands such as Adidas and Electronic Arts attributed more than 70% of their marketing return on investment to the ‘Momentum Effect.’ The ‘Momentum Effect,’ a new metric coined by Marketing Evolution, quantifies the impact of a brand within a social network beyond traditional advertising impressions to encompass the ‘pass along’ power of consumer-to-consumer communication. Read more.

CMOs VOTE FOR DIRECT MARKETING

Want growth? Go for direct mail, say chief marketing officers. Nearly 25% of those recently surveyed by Targetbase said traditional mail had the strongest impact on meeting their growth goals. Direct mail was followed, albeit not closely, by print (15%); e-mail (10%) and point-of-purchase (10%) as having the single greatest effect on sales

HOW To Send E-mails That Get Responses

Guy Kawasaki — entrepreneur and venture capitalist — has written a great article giving tips for people who seek responses by e-mail.

Do you measure up online?

Know the norms of online advertising so that you can run effective campaigns and measure their success. Visit the Internet Advertising Bureau.

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