Communicating with consumers and evoking emotions
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Communicating with consumers and evoking emotions
The challenges of communicating with customers and creating brand attachment
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Tesla's media strategy: build a brand without spending on advertising

Tesla's media strategy: build a brand without spending on advertising | Communicating with consumers and evoking emotions | Scoop.it

It's been quite a week for Tesla Motors (TSLA). The Palo Alto-based electric car company claimed it reached profitability for the first time, saw its stock close at an all-time high, unveiled a new financing program and celebrated the opening of its expanded showroom in San Jose's Santana Row.

 

And much of the action was driven by CEO Elon Musk's bold, brash and unconventional use of social media. The man who helped change the Internet by cofounding PayPal is proving just as determined to change the rules for how public companies communicate -- even as the Securities and Exchange Commission wrestles with how to bring those rules into the 21st Century.

 

"Elon Musk is a marketing genius, in our view," said Adam Jonas, an analyst who covers Tesla for Morgan Stanley. "A tactful use of social media means a tiny car company has the best known financing program on the planet.... Mainstream OEMs (original equipment manufacturers) are being taken to school here."


Via Russ Merz, Ph.D.
Charlotte Johnson's insight:

With the prevalence of social media Telsa motors has come up with a way of building a brand that does not cost anything. CEO Elon Musk has been innovative and risky using social media to release information about the company and has managed to affect share prices through the use of twitter. Although social media use by CEOS is "fraught with landmines" regarding their legal and moral obligations it seems to be working for Telsa who have reported producing higher volumes while other electric car companies have faltered. Social media Is an easier and cheaper way to reach consumers and telsa has found a way to build their brand around it. 

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Russ Merz, Ph.D.'s curator insight, April 6, 2013 3:24 PM

Case Study.

PHAM THU NGA's comment, April 8, 2013 6:08 PM
I agree that building the brand through social media is cost-effective method. It's cheap and easy way to reach a large audiences. However it is also hard to control and quite risky. If the business learns how to use the advantages to the fullest and prevent the disadvantages to the least, it will be very profitable and efficient way to promote your brand.
Jess Tracey's comment, April 8, 2013 8:20 PM
Connecting with consumers over social media is a great way to build relationships with consumers and in turn build brand loyalty, however as J said, advertising only through social media is quite risky. Building strong relationships with consumers and understanding their needs and wants is one of the core concepts of IMC, and using social media is a great way for Telsa to gain these relationships, but is using solely social media as advertising a good idea for such a high involvement product?
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Consumer Behavior Survey Finds Personalized Service Options Win Over Brand Loyalty

Consumer Behavior Survey Finds Personalized Service Options Win Over Brand Loyalty | Communicating with consumers and evoking emotions | Scoop.it

by Amy Gesenhues

 

Findings from a recent survey conducted by Harris Interactive and inContact, a provider of cloud contact center software, prove companies cannot rely on brand loyalty when it comes to keeping existing customers or winning new ones.

 

The survey, conducted online February 11 through February 13, 2013 using a nationwide sample of 2,191 U.S. adults aged 18 years and older, examined changing consumer behavior trends and customer service preferences. Survey findings confirmed that consumers are less likely to make buying decisions based on brand loyalty, and more likely to choose a company that offers personalized customer experience options.

The survey’s key findings include:

56 percent of respondents indicated that they would be, at least, somewhat likely to switch brands based on customer service options.Women are nearly ten percent less likely than men to feel loyalty toward a brand.86 percent of U.S. adults expect brands to offer multiple options and flexible timing to interact with customer service.68 percent of respondents indicated that companies without other options than a 1-800 number seem outdated.25 percent of U.S. adults do not feel loyalty toward any type of brand.

When asked which types of communication methods are most important, 96 percent of respondents felt it was important for companies to have email communication. A 1-800 number option was a very close second with 95 percent of respondents indicating that it was important for companies to have live reps available for customers to contact them by phone.

 

84 percent of the respondents aged 18 to 34 said that it was important for a company to have apps for mobile devices. 77 percent of all respondents claimed online chat was an important option, and 67 percent felt that consumers should have the ability to contact companies via SMS/text messaging. 54 percent of the respondents wanted to be able to communicate with a company using social networking sites.

 

From the survey results, it is obvious marketers must continue to modify their methods of communication, offering multiple options based on consumer preferences. According to Paul Jarman, CEO of inContact, “The smartest companies are quickly adapting to changing consumer behaviors and needs, extending customer service beyond just phone and email to mobile apps, text messaging, chat and social media.”

 

Source: http://marketingland.com/customer-service-beats-brand-loyalty-36700

Charlotte Johnson's insight:

This article states that brands cannot rely on customer loyalty in this new technological environment. Instead they need to focus on customer service to attract and retain customers. i feel that providing good customer service and keeping up with technology creates brand loyalty. i don’t feel that communication methods are replacing brand loyalty but are instead just another way to support and maintain it. As for the statistic that woman are 10% less likely to feel loyalty toward a brand. i think that this statistic mainly relates to the fact that woman are the ones who do the shopping and are the ones who are more responsible for finding products that their family enjoys. 

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Zhaowei Lu's comment, April 8, 2013 12:52 AM
The surveys show a real fact to us which is branding must consider what customers like, what customers prefer. To understand what real products suit customers, changing is the key word. For example, if a business only sale the products that customers dislike would effectively course the sale of the business. If the business realize and analysis what are customers preference, it would make and suit the customers, so changing is very important.
PHAM THU NGA's comment, April 8, 2013 5:13 AM
"The smartest companies are quickly adapting to changing consumer behaviors and needs, extending customer service beyond just phone and email to mobile apps, text messaging, chat and social media.” I totally agree with that. Even though, the way of marketing the products have been significantly changed throughout the years ,customer service remains as the priority. The business should use various medium channels as the ways of reaching and engaging their consumers. Communicate with their consumers as much as possible and satisfy their needs.
Jess Tracey's comment, April 8, 2013 8:30 PM
I think you bring up some very interesting points Charlotte. I agree with you that communication with customers and brand loyalty are two very integrated concepts and companies should not be focusing on one or the other. Having strong communication and good customer service will help build brand loyalty.
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Intercultural Communication: Become a Master in 5 Steps

Intercultural Communication: Become a Master in 5 Steps | Communicating with consumers and evoking emotions | Scoop.it
Do you want to develop your intercultural communication skills? This article will give you the 5 steps you need to take the develop these skills.

Via F. Thunus
Charlotte Johnson's insight:

This article discusses on how a company/brand can broaden their communication channels through becoming an intercultural communication master. this article introduces 5 steps, 

 

1) recognise that intercultural communication can be learned

2) figure out your own cultural values and assumptions

3) immerse yourself in the target culture 

4) avoid the temptation to stereotype 

5) use trial and error as a method for success. 

 

these 5 steps allow a company to expand their global outreach and build a stronger brand, an important tool for businesses today. 

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PHAM THU NGA's comment, April 8, 2013 6:04 PM
This article is interesting and easy to read. Nowadays, understanding different cultures is important to any businesses. This is the necessary communication skill to maintain the best relationship within the business as well as global expansion.
Jess Tracey's comment, April 8, 2013 8:25 PM
Some of these steps are very relevant to IMC, such as figuring out the company/brands cultural values, and immersing the company/brand in the target culture. It is important to understand your consumers and their beliefs etc, and these are some great steps to follow to accomplish this.