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Showing posts with label advantage. Show all posts
Showing posts with label advantage. Show all posts

Nov 19, 2012

8 Ways Businesses Can Use Facebook and Customer Relationship Management

CRM + Social = Power. Social media is the latest and greatest tool for customer relationship management, learn how to use it to your advantage.

Believe it or not, there are still naysayers out there who believe that social media and social media marketing are fads. Obviously I disagree. Companies like Facebook and Twitter and Pinterest and LinkedIn, and even Reddit, have changed — forever — the ways that people communicate with one another and the ways they share all kinds of information, including advertising.

Of course we are still in the early days of this revolution so social media companies will come and go, just like technologies do. But one thing is certain:

The bottom line: businesses can use Facebook and other social media efforts in the context of customer relationship management so that they can nurture relationships over the long haul. CRM + Social = Power. Here are a few ways businesses can leverage it.

1. Make your marketing relevant (and you’ll increase your conversion rate).

One of the reasons you want to learn about your clients and customers is so that you can better target your products and services. This helps you put them into the “correct” channels so they receive more accurate messages and less spam. Ultimately this makes customers and prospective customers more receptive to your outreach.

Let’s say you have a user who fills out a form to sign up for your company newsletter. Perhaps in the form there is a field asking the user if she has small children at home, or is expecting a baby. If she answers yes to either, you have the opportunity to send her coupons for diapers a few months down the road, or send her housecleaning services or information about college savings plans. She appreciates the focus of your efforts — and that you’re not sending her ads for online dating services!

2. Whenever possible, target your ads.

I’m just going to come right out and say it: I love Facebook ads. I think the way Facebook serves me ads that are totally relevant to my interests is super cool. Let me give you an example.

I’m really into triathlons right now. I participated in a few over the summer — triathlon relays are great team-building exercises, by the way — and they were all within about 30 miles of where I live.

Now that I’ve Liked the events I participated in, Facebook “knows” that I am ripe for information about this type of event. So I expect that I might soon be seeing some ads for triathlons, or maybe bike races and marathons, that are a little bit farther away.

In all likelihood these are events that I might not know about, but I’m still interested in. What’s more, it’s unlikely that Facebook will be bombarding me with ads that are not relevant to me.

3. Make your social efforts another collection point.

Your business’ website is no longer the only place to collect data about your customers. In the past, the verbiage went something like: “If you want to download our whitepaper, fill out this form” or “If you want to know about my newsletter, sign up here.” But thanks to Facebook and other social channels, you can make it more fun. You can use apps (more on this later) to create games or contests for users to enter in exchange for a little bit of information.

In the past it was very expensive to create contests and custom apps but thanks to third party apps, these options are within reach of virtually any small business.

You can also use Facebook questions to gather data beyond your existing fanbase. When your “Likes” answer a question, their friends (even the ones who don’t Like you) have the opportunity to answer the question — this is a good way to expand your data sample size.

 

Continue reading this article:

 
 

Source : cmswire[dot]com

Nov 5, 2012

The Current State of Social CRM [Infographic]

Just as companies are getting more comfortable with social media, they are still learning how to capture and take advantage of all the information they're gleaning from their fans and followers.

This month we'll be exploring the role of Social CRM and how it can impact and improve the customer experience.  Many of us already have customer relations management systems in place, but they aren't necessarily connected to the places customers are. By plugging social media networks into your customer database, companies can begin to add relevant and useful information about their current and prospective customers so they can deliver better customer experiences.

Social + CRM

Now that more brands are using social media to engage with their customers, more and more are learning interesting things about them. How can you effectively manage your customer lifecycle so that you can make sure you can deliver the right information to the right people? Additionally, as users start using social media to ask questions or seek customer support, companies not only need to be actively responding and listening to customers, they need to be documenting these communications within their CRM so they can ensure that all call center agents can know what conversations are taking place and where.

However, just because you have a Social CRM in place, doesn't mean the hard work is over. There is more pressure than ever to convert social media engagement into leads and conversions. It's essential that the right people, from marketing to sales team members are plugged into the Social CRM so they can take advantage of the valuable information being funneled into it.

Social CRM.png

A Social CRM provides many opportunities to create a full perspective of each customer and prospective customer. What would you do differently if you knew not only where they were and what they were saying, but having it update in your CRM system?

 
 

Source : cmswire[dot]com

Oct 18, 2012

Great Customer Experience Starts with Change Management

Delivering customer experiences that are engaging, relevant and persuasive is a key competitive advantage in today’s business environment. Recognizing that employees are the driving force that can make or break a great customer experience is the first step. An effective change management initiative is the second step necessary to ensure that employees have the knowledge and structure to deliver.

According to a recent Forrester Research study, 86 percent of respondents saw customer experience as a strategic priority. In a five-year study comparing customer experience scores to stock performance, there was a 70 percent differential between leaders and laggards.  

There are many factors that determine the success and influence the implementation of a robust customer experience management program (CXM). Technology has become a primary enabler. It allows you to target the right audiences with sophisticated campaign management tools, publish content with complex management systems, and measure and optimize the results using analytics. Combined, these capabilities make up an enterprise marketing platform or EMP.

The true potential of EMPs is often not realized. One aspect that is often overlooked or underestimated when it comes to deploying EMPs is the organizational readiness. From the onset, a CXM/EMP rollout requires various groups such as product, channel, brand, operations and analytics, to work across silos, share a common vision and leverage shared processes and tools.

Getting everyone to work together, share common goals and agree on metrics for success within this new model inevitably results in drastic changes to individuals, groups, teams and entire organizations. Change management can help organizations to control the potential implications (such as resistance and concerns) of such changes.

The Need for Organizational Change Management

Real and lasting change only occurs when employees alter their thinking, beliefs and habits. While it may be easy to recognize the need for change, putting it into practice is an entirely different story.

Humans are, by nature, resistant to change. Resistance takes many forms: unwillingness to learn a new system, disagreement with management decisions and uncertainty over changing job requirements including job security. It is the primary reason enterprise initiatives fail. 

why_projects_fail.jpg

Uncertainty can grow when management hires external "experts" to support the organization as can not being "selected" to participate in the project team. Secrecy and lack of communication further contribute to dissent, as employees immediately become fearful when they perceive management withholding information.

Organizational Change Management Fundamentals

Leadership and change authority John P. Kotter defines change management as a set of basic tools or structures intended to keep any change effort under control . The goal is to minimize the distractions and impacts of the change, while maximizing the potential the change intends to bring.

During the initial phase of a rollout, the following areas need to be addressed as a part of the change management process.

OCM_Fundamentals.jpg

Roles & Responsibilities

Internal roles and responsibilities will change. Team structure, employee interaction and workload will all be affected. It is necessary to define where one employee’s responsibilities end and another’s begin. A "RACI" chart is a great tool to drive and provide clarity across the organization.

 

Continue reading this article:

 
 

Source : cmswire[dot]com

Oct 10, 2012

The Tale Of TiVo And Why Great Brands Fall From Grace

Remember TiVo and Listerine breath strips? Products like these dispel the myth of long-term “first-mover” advantage in marketing brands--ultimately, it is the companies able to adapt that thrive.

Why is it that some brands launch like meteors, captivating our imaginations and our wallets, only to fall spectacularly into marketing oblivion? And perhaps more importantly for marketers today: How can this fate be avoided? The answer lies in the difference between what is required to generate initial trial of a new product, versus building a relevant equity that stimulates ongoing interest and repeat business.

Looking backwards from today’s vantage point, it might be easy to dismiss brands like Listerine Pocketpaks or TiVo, but at the pinnacle of their success they had a Jeremy Lin-like, out-of-nowhere stardom that had consumers all atwitter, brought riches to their corporate owners, and had competitors searching for answers. What is it about these brands that relegated them to eventual irrelevance, while other brands with meteoric success remain on top? And what does the future hold for today’s meteoric brands like UGG boots or Keurig coffee?

First, we need to dispel the myth that there is any long-term “first-mover” advantage in marketing brands. This may be true at the start, but ultimately it is the companies able to adapt to changing conditions that thrive. That is to say, survival of the fittest brands, not the first brands, drives the market. Neither Google, nor Amazon, nor even Gillette was the first brand in its respective category that it now leads. So while some “boom, splat” brands were the first to popularize innovative benefits--such as digital video recording--this distinction alone is insufficient to defend against encroaching competition and a restless consumer.

In 2001, Pfizer’s Listerine brand, then famously known for its antiseptic mouthwash, launched Listerine Pocketpaks breath strips. The product not only helped the brand extend into a new category, but also created awareness, relevance, and reinvigorated the parent brand’s equity in fresh breath. Everyone needed to try the distinctive strip format and unique sensory experience. A true innovation blockbuster, brand awareness and trial were off the charts and year one sales exceeded $175 million, quickly establishing it as the number-one brand in the category. But by 2003, brand sales were already off by 40%-50%, fueled by intense competition with copycat products and a consumer seeking more exciting offerings from strong brands like Altoids, Tic Tac, and Ice Breakers. Today under new ownership, Listerine Pocketpaks remains a viable business, generating about $25 million in annual sales, but is a shell of its initial success.

One contributing factor to the brand’s fall may be the polarizing product experience. However, even if some consumers were ultimately not wowed by the product and did not repeat purchase, the brand still managed to engage enough consumers to drive it to category leadership, so the answer may lie more with the brand than the product. Listerine Pocketpaks were so closely associated with a product form, rather than a brand equity, that it lacked the authority to sustain a category leadership position. The brand may have been more successful had it pinned its brand proposition on, say, Listerine freshness to-go or intimate togetherness or anything other than the product form itself, which was quickly copied.

Listerine effectively did not leverage a strong point-of-difference compared to its new competitive set (i.e., mints), beyond a hot new product form. Once the form novelty wore off, the brand did not find a way to win versus other brands doing an equally good job offering a minty fresh experience. The breath-mint consumer was then free to switch to a competitive breath strip, or align with a conventional format mint brand with strong appeal on both a functional and emotional level, such as Altoids.

Listerine is not the only “boom, splat” brand to soar behind the short-term functional difference of a unique product format. In other categories, Motorola’s ultra-thin Razr phone or Pert’s 2-in-1 shampoo both come to mind. In these cases, too, there was no meaningful second act following the initial success of the brand launch. Loyal consumers seeking the next level of involvement were left with nowhere to go but the competition offering newer, shinier objects for sale.

So, which brands are doing these things well? Like their style or hate them, UGG Australia has successfully kept its brand fresh and strong for years. Many predicted that UGG boots would be a passing fashion fad. But a decade after gaining must-have status, the brand keeps marching on, achieving a record $1.2 billion in global sales last year. UGG is more than a fashion icon; the brand solves an unmet consumer need of stylish footwear that doesn’t involve painfully high heels. Worn by countless celebrities, the UGG brand was established as a genuine article, not to be copied by a competitive imitation. And now that it seems every fashionable closet has a pair, the brand has pushed into slippers, gloves, hats, and other accessories where stylish comfort plays a role. At this stage, there is no "boom, splat" forecasted for UGG.

One brand that will be interesting to watch in the coming year or so is Keurig, the single-serve coffee brand that has grown tremendously (their parent company Green Mountain Coffee Roasters announced 2011 revenue of $2.65 billion, up 95% from 2010). The brand has helped usher in a new wave of premium, at-home coffee options with strong partners like Dunkin' Donuts, Starbucks, and Newman’s Own, succeeding in a crowded space where some first-movers have failed. However, they will need to stay fresh and relevant, continue to innovate and think broadly about their business once the single-serve coffee market is saturated, by them or Nespresso or someone else, and consumers begin to wonder what’s next.

So what can we learn from all this? I see three important lessons: first, having a brilliant innovation ahead of competition is a great thing. But there is danger in letting the technical innovation be the news itself, because inevitably competitors will copy or leapfrog you. It’s always best to build equity that elevates the conversation to emotional benefits, values, and beliefs, rather than a purely functional one. That’s much harder to copy. Second, ensure your product experience is outstanding, creating ongoing repeat from happy consumers. And finally, have a second act. Keep it fresh and give your loyal user base something to trade up to once they’ve committed to the brand; don’t leave them hanging on wondering what is the next level of involvement. Doing these things may not ensure meteoric success, but it will help you avoid the dreaded sound of “boom, splat!”

--Bruce Levinson is vice president, brand strategy at the New York office of Anthem Worldwide, part of the strategic design division of Schawk, Inc. His previous positions include director-level marketing roles at Unilever in the U.S. and U.K., and as an advertising account executive.


Source : fastcompany[dot]com

The Tale Of TiVo And Why Even Great Brands Fall From Grace

Remember TiVo and Listerine breath strips? Products like these dispel the myth of long-term “first-mover” advantage in marketing brands--ultimately, it is the companies able to adapt that thrive.

Why is it that some brands launch like meteors, captivating our imaginations and our wallets, only to fall spectacularly into marketing oblivion? And perhaps more importantly for marketers today: how can this fate be avoided? The answer lies in the difference between what is required to generate initial trial of a new product, versus building a relevant equity that stimulates ongoing interest and repeat business.

Looking backwards from today’s vantage point, it might be easy to dismiss brands like Listerine Pocketpaks or TiVo, but at the pinnacle of their success they had a Jeremy Lin-like, out-of-nowhere stardom that had consumers all atwitter, brought riches to their corporate owners, and had competitors searching for answers. What is it about these brands that relegated them to eventual irrelevance, while other brands with meteoric success remain on top? And what does the future hold for today’s meteoric brands like UGG boots or Keurig coffee?

First, we need to dispel the myth that there is any long-term “first-mover” advantage in marketing brands. This may be true at the start, but ultimately it is the companies able to adapt to changing conditions that thrive. That is to say, survival of the fittest brands, not the first brands, drives the market. Neither Google, nor Amazon, nor even Gillette was the first brand in its respective category that it now leads. So while some “boom, splat” brands were the first to popularize innovative benefits--such as digital video recording--this distinction alone is insufficient to defend against encroaching competition and a restless consumer.

In 2001, Pfizer’s Listerine brand, then famously known for its antiseptic mouthwash, launched Listerine Pocketpaks breath strips. The product not only helped the brand extend into a new category, but also created awareness, relevance, and reinvigorated the parent brand’s equity in fresh breath. Everyone needed to try the distinctive strip format and unique sensory experience. A true innovation blockbuster, brand awareness and trial were off the charts and year one sales exceeded $175 million, quickly establishing it as the number-one brand in the category. But by 2003, brand sales were already off by 40%-50%, fueled by intense competition with copycat products and a consumer seeking more exciting offerings from strong brands like Altoids, Tic Tac, and Ice Breakers. Today under new ownership, Listerine Pocketpaks remains a viable business, generating about $25 million in annual sales, but is a shell of its initial success.

One contributing factor to the brand’s fall may be the polarizing product experience. However, even if some consumers were ultimately not wowed by the product and did not repeat purchase, the brand still managed to engage enough consumers to drive it to category leadership, so the answer may lie more with the brand than the product. Listerine Pocketpaks were so closely associated with a product form, rather than a brand equity, that it lacked the authority to sustain a category leadership position. The brand may have been more successful had it pinned its brand proposition on, say, Listerine freshness to-go or intimate togetherness or anything other than the product form itself, which was quickly copied.

Listerine effectively did not leverage a strong point-of-difference compared to its new competitive set (i.e., mints), beyond a hot new product form. Once the form novelty wore off, the brand did not find a way to win versus other brands doing an equally good job offering a minty fresh experience. The breath-mint consumer was then free to switch to a competitive breath strip, or align with a conventional format mint brand with strong appeal on both a functional and emotional level, such as Altoids.

Listerine is not the only “boom, splat” brand to soar behind the short-term functional difference of a unique product format. In other categories, Motorola’s ultra-thin Razr phone or Pert’s 2-in-1 shampoo both come to mind. In these cases, too, there was no meaningful second act following the initial success of the brand launch. Loyal consumers seeking the next level of involvement were left with nowhere to go but the competition offering newer, shinier objects for sale.

So, which brands are doing these things well? Like their style or hate them, UGG Australia has successfully kept its brand fresh and strong for years. Many predicted that UGG boots would be a passing fashion fad. But a decade after gaining must-have status, the brand keeps marching on, achieving a record $1.2 billion in global sales last year. UGG is more than a fashion icon; the brand solves an unmet consumer need of stylish footwear that doesn’t involve painfully high heels. Worn by countless celebrities, the UGG brand was established as a genuine article, not to be copied by a competitive imitation. And now that it seems every fashionable closet has a pair, the brand has pushed into slippers, gloves, hats and other accessories where stylish comfort plays a role. At this stage, there is no "boom, splat" forecasted for UGG.

One brand that will be interesting to watch in the coming year or so is Keurig, the single-serve coffee brand that has grown tremendously (their parent company Green Mountain Coffee Roasters announced 2011 revenue of $2.65 billion, up 95% from 2010.) The brand has helped usher in a new wave of premium, at-home coffee options with strong partners like Dunkin' Donuts, Starbucks and Newman’s Own, succeeding in a crowded space where some first-movers have failed. However, they will need to stay fresh and relevant, continue to innovate and think broadly about their business once the single-serve coffee market is saturated, by them or Nespresso or someone else, and consumers begin to wonder what’s next.

So what can we learn from all this? I see three important lessons: first, having a brilliant innovation ahead of competition is a great thing. But there is danger in letting the technical innovation be the news itself, because inevitably competitors will copy or leapfrog you. It’s always best to build equity that elevates the conversation to emotional benefits, values and beliefs, rather than a purely functional one. That’s much harder to copy. Second, ensure your product experience is outstanding, creating ongoing repeat from happy consumers. And finally, have a second act. Keep it fresh and give your loyal user base something to trade up to once they’ve committed to the brand; don’t leave them hanging on wondering what is the next level of involvement. Doing these things may not ensure meteoric success, but it will help you avoid the dreaded sound of “boom, splat!”

--Bruce Levinson is vice president, brand strategy at the New York office of Anthem Worldwide, part of the strategic design division of Schawk, Inc. His previous positions include director-level marketing roles at Unilever in the U.S. and U.K., and as an advertising account executive.


Source : fastcompany[dot]com

Aug 27, 2012

What Successful Night Owls Get Done Before Bed

We all know morning people are said to have a business advantage, but what about those night owls? They've got a competitive edge, too. Here are their productivity tips for the wee hours.

Early birds get all the credit. Research indicates that morning people tend to be more active and goal oriented, and such larks as Steve Jobs, Craig Newmark of Craigslist, and 25-year old David Karp, founder of the Tumblr blogging platform suggest that climbing the ladder of success is easier before breakfast.

So does that mean night owls are at a disadvantage? Research by Satoshi Kanazawa and colleagues at the London School of Economics and Political Science suggests no. The group discovered significant differences in sleep preferences and found that . They found an evolutionary shift from being active in the day towards nightly pursuits and that those individuals who preferred to stay up late demonstrated "a higher level of cognitive complexity.” Researchers from Belgium and Switzerland studying sleep habits found that early risers needed more rest than their nocturnal counterparts and didn’t focus as well later in the day as those who slept in.

Armed with that knowledge, Fast Company found a group of dedicated night owls to discuss their strategies for making the wee hours work for them. Most responded to our queries via email well past midnight. Here’s what they told us.


Pick One Project

Keval Desai, managing partner of InterWest Partners and a former Google developer, says he’s only seen the sun rise in the past decade when he pulls an all-nighter. He replied at 2:22 a.m., close to his typical turn-in time of 2 a.m.

His penchant for working late was born of necessity when he was still in high school in Bombay. “My parents and I lived in a small apartment and during the day there was no privacy of time or space to concentrate. So the only option to get my studies done would be to work on it at night after everyone was asleep and there were no friends, neighbors, or random visitors dropping by.”

Staying up late is now a habit, and Desai says it’s common for him to leave the thinking work for the wee hours. “During the day most of my time is spent in meetings with entrepreneurs, and the only time I can find alone to do work that requires some concentration is when the rest of the household is asleep.”

He’ll pick one project per night. Daytime is for doing the research on tasks that “require synthesizing several different pieces of information, then applying some thought on key decisions that need to be made and then articulating those decisions,” he says. “I don’t go to sleep until the task is done in one night session.”

You’ll find Desai working from home after hours, although he says he’s logged plenty of nights at the Google offices and then drives home to San Francisco, 45 miles away. He’s a big believer in drinking a cup or two of decaf green or chamomile tea while ensconced in a spare bed with his laptop.


Combat Clutter

Laurie Tucker is the senior vice president for corporate marketing at FedEx who sent her response to us at 1:45 a.m., also close to her bedtime of 2 am.

Tucker, who rises at 6 a.m. most mornings to work out, is one of those (rare) individuals who only needs about five hours of sleep each night. “My mother only slept a few hours a night, and I can still remember visits from my cousins who were put to bed by their parents at 8 p.m., while my brother and I sat up until midnight watching TV with the grownups,” she says. Though her husband “loves to sleep” and hits the hay at about 9:30 p.m., Tucker has to make herself go to bed.

“I adore late night. When my kids were young, I loved having hours of quiet after they went to bed. I had team all over the world back then so I would do conference calls, respond to email, and catch up on reading,” she says. Now that her kids are grown and she manages a U.S.-based team, she has more time to read and think.  “I love the quiet time to unclutter my mind.”

While she doesn't require as much sleep as most people, Tucker still believes late-night hours should be spent at rest. "Nighttime is for regeneration. Be at peace, feed your mind, and let your body rest.” 

She avoids anything with caffeine at night, says that she goes to sleep within minutes of her head hitting the pillow. Her energy level stays high all day, and she never naps. "My biggest challenge is to stay away from the kitchen--dinner to bedtime is a long stretch," says Tucker.


Hit The “Idea” Bar

Cosmopolitan editor-in-chief of and author of the new book I Shouldn’t Be Telling You This, Kate White was kind enough to spill some of her late-night strategies.

White goes to bed earlier than she used to (midnight or 1 a.m.) because she hits the ground running at 5:30 a.m. to work on her fiction. At night, you’ll find her hard at work on magazine editing, non-fiction book writing, and blogs.

“My craziest trick is that I regularly do my work standing up at a rolling butcher block counter in my kitchen. If I were to work sitting down, I’d fall asleep," White says. "I know it sounds awful, but I think of it as if I’m tending bar in the evening--a bar of ideas. And I always keep the kitchen TV on so it doesn’t seem too lonely. I drink several espressos at night, which really helps."


Late Night Rendezvous

CEO of the online meeting platform Groopt, Patrick Allen says his head doesn’t hit the pillow (or his desk) until about 3:30 a.m. That makes him the early bird among the site’s developer staff, who tend to stay up all night chatting on Campfire.

Located on the top floor or a quirky Victorian in San Francisco’s fabled Haight Ashbury neighborhood, Allen says the Groopt HQ is a haven for productivity, with feng shui that would make Confucius proud. “We firmly believe that to reach maximum productivity, you must work in the optimum environment, and this couldn't be more true for the night owl,” he says. Rather than revel in the quiet, Allen says it's not uncommon to find “three to five of our Troopers sitting around the coffee table at 3 a.m. hammering out user stories or crafting new experiments for cohort analysis,” which energizes him.

To be effective late, he says, you need to believe what you're doing is giving you an edge on the competition. "As Childish Gambino says, ‘While they be sleeping I'll be on to that new $hit.’"

To keep alert, they've stocked their pantry with fresh coffee, a Nespresso machine, and "mounds and mounds of Yerba Mate.”


Big Picture Thinking

Frank Aldorf, the chief brand officer of Specialized Bicycle Components sent us a reply at 1:49 a.m.--late for the guy who tries to turn in no later than half past midnight.

“It's actually fun working on this brand,” says Aldorf. But with a team in different time zones and a company that has offices in 28 countries, Aldorf’s day is mostly organized around meetings and connecting with people or travel.

“At night is the time when I get stuff done and can think about the bigger picture. It's focused. That’s the time when I can turn notes and ideas drafted on the fly into concepts and future projects. I read through saved articles and get inspired by my well-maintained RSS feed.”

Aldorf says he needs the right music on his headphones. “I can't live or travel anymore without my noise-canceling headphones and a station like KCRW.”

Aldorf doesn’t do caffeine at night and keeps the coffee consumption to 1 or 2 espressos a day. “Before I start my nightshift, I go for a short bike ride to sharpen my senses,” he adds, “But I know how important rest time is to be game the next day.” Which for him, starts back up at 6:30 a.m. 

What keeps you up at night? How do you stay productive? Tell us about it in the comments below.

Lydia Dishman used to stay up writing until 2 a.m. Now she's switched to waking up early, albeit with a LOT of coffee. You can read more of her work here.


Source : fastcompany[dot]com