The essence of loyalty marketing has not changed since its invention; incentivize your best customers and they will not only remain patrons, they will tell their friends about their experiences with your brand. The rise of social technologies has multiplied the positive effects of a brand supporter and underscores the importance of influential evangelists.
Though the substance of loyalty has not changed in the past 30 years, the tactics and technologies required to implement a loyalty program have been displaced -- so much so that history may designate the years between 2012 through 2015 as a renaissance in customer loyalty. Here are a few guidelines to use when planning your customer loyalty programs for 2013:
How often do you look outside of your industry for marketing inspiration? Glenn Pasch, COO of PCG Digital Marketing explains how using your own experiences as a customer will improve your business's marketing.
Great leaders treat an employee issue, no matter how "small," as a major issue. Great leaders give employee concerns the same attention they give business-critical concerns.
When an employee comes to you with a problem, no matter how minor it may seem to you, to that employee it's a major issue. Whether you can view a problem from the employee's perspective, and not just from your own, is a key leadership test great leaders pass with flying colors.
Consumers are increasingly taking their questions or complaints online in support forums or in social media. They are also posting critical reviews about their experiences on industry-specific sites such as TripAdvisor for restaurants and hotels or community sites such as Yelp. While customer feedback at any channel provides valuable information to companies, online channels also present the added opportunity for companies to display good will by resolving issues publicly. But left unattended, they become a platform for customers to vent their anger. As more participants with the same issue add to the discussion, group think starts to form and participants only inflame each other further. And ignoring complaints in social media can have devastating effect on purchase intent by other consumers as well, as one study suggests.
It has always been my contention that getting your organisational culture right will improve your competitive performance and support a company's high growth aspirations because they empower people to be courageous and offer sultions and challenge norms without fear of reprisals or blame.
But, too rarely, we ask them to consider what their customer experience mission is. How should your customers FEEL after dealing with your company? What processes will you put in place to ensure this happens? How can you reinforce this experience at every step along the way?
Why don’t we do this? Brand promises are important, but too often they only go as far as driving the latest marketing campaigns. If it’s truly a promise, then push it to become a customer experience mission.
People are buying followers. Yes, you read that right. Sounds ridiculous, but a lot of people do it. Mostly public figures, but even us normal people do it too. In fact, at least 11,283 Twitter users have purchased more than 72,000 fake followers.
So how does this factor into marketing for your business? At approximately 4 billion views a day being reported on YouTube, this presents an enormous opportunity for visibility. YouTube has become another social media platform in which users can interact with each other and comment along with view others videos and post their own.
The continuing advancement of technology enables people to view videos from any device, which means all businesses should take advantage of having their own video channel on YouTube. It’s another great way to increase awareness and audience base. It builds links in that you can include your other sites and share videos from YouTube on all other social media platforms. Plus, it’s incredibly entertaining and gives your company the ability to spread messages in a new way. Content will always be beneficial in giving you credibility and depth, and new methods of doing are ever-evolving.
seven deadly social media sins that could land your company in scalding water.
1. Ignoring reality: People in your employ are using social media. Pretending otherwise will not be an excuse if problems occur.
2. No policy: Without rules, employees do not know what’s permitted. Do not convey the message to employees that they can do what they want on the Internet or on social media in the office or on work time. This “wild west” approach is very dangerous.
3. Failing to observe and enforce: If you have a policy but are not enforcing it or monitoring what people are doing, you are inviting problems.
4. Lack of understanding: Ignorance of the law is no excuse. There are many laws at play in this arena — slander, libel, trademark issues, copyright, privacy, FTC regulations, defamation and more — and you must learn about them. It can be helpful to consult a professional so you learn and understand the law, and then train and educate your employees. Then you should require employees to acknowledge they understand the training, the rules and the consequences.
5. Leaving open the vault door: Companies collect and store a lot of sensitive information from employees – Social Security numbers, personal information, credit card numbers and other data — as well as from customers. You must safeguard this information.
6. Failure to consider ownership of the information: Who owns the content posted online by your employees — the tweets, blog posts and Facebook posts about products and services? What if one of your employees builds a list of thousands of Twitter followers, then switches jobs and tries to take them? Those followers might be extremely valuable as potential customers.
7. Doing nothing: This is the mortal sin. You must create policies, enforce them, review and update them periodically, keep up with changes in the law, monitor your employees’ usage, train them and make sure they understand who they can go to if they have questions.
Business models and channels, which once seemed relatively fixed, will undergo tremendous change due to the pervasive internet. We are on the cusp of a completely new delivery mechanism for a wide variety of products and services. You'll need to innovate as rapidly as the internet introduces new business models, channels and customer interactions. And that will be fast - the rise, and rapid fall - of Facebook should attest to that.
Of the shopping activities tracked across devices, 59% of smartphone events occurred in-home, compared to 41% that occurred out of the house. By contrast, the vast majority of activities on PCs and laptops occurred in-home, with just 16% outside the house.
Social media is an increasingly important support channel and helps understand what customers are saying about the brand. But it is only one channel, and limited to tech and internet-savvy customer segments.
Unless it maps out and tracks the quality of interaction at all channels, software is not a framework, much less a Customer Experience Management one. It is a tool to manage customer relations at an individual channel.
Questions to enter strategic mode A good way to start being calculated and strategic about this is asking yourself 5 important questions. Here the are:
Start with asking (business) questions you need or want answers to. This could be any question, related to your processes, your customer needs, habits, your points of sale.. etcetera etcetera. Because, if you do not ask the right questions, you will never find the right answers in any data, let alone Big Data. Re-think what you need the answers to your questions for: what is the proposed value coming out of knowing the answer? Will knowing the answer eventually result in creating more value for the company and the Customer? Is it actionable? If not, skip the question and focus on the ones that do provide actionable insights. There’s little time and little money, so you need to be effective with both resources.
The study’s conclusion recommends that companies work to close that perception gap between leadership and employees and also build both top-down and bottom-up cultures of innovation, examine innovation at every corporate level, “ignite innovation action,” and work tirelessly at continually improving communication. It adds four steps companies can take immediately. They h
The question on culture are as follows, fell free to use them as you wish. The most important factor to consider is that answers should be anonymous otherwise your employees will be too busy trying to second guess what they think the answer should be rather than what is the truth.
1. Is the pressure to perform unreasonable?
2. Are targets set by managers unreasonable?
3. Would you prefer to work for a fast moving innovative company or a slow moving cautious company?
4. Is it sometimes difficult to ask questions or raise concerns?
Capture more email addresses The number one reason consumers will subscribe for email updates is to get special offers and promotional codes. The number one place that customers look for holiday offers is email. Now is the time to remind customer of the benefit of subscribing to your email program. Make it clear that signing up for emails will means that they will get holiday deals first.
“The ROI of social media is that you’ll still be in business in five years” is not only wrong and inane, it’s not a reason for not measuring SM ROI.
“Asking what the ROI of social media is is like asking what’s the ROI of your mother” is not only a demonstration of your stupidity (and a good reason why you should be fired from your job), it, too, is not a reason for not measuring SM ROI.
A new report released by business consulting giant McKinsey Global Institute shows that social media tools stand to add from $900 billion to $1.3 trillion to the economy, largely through increased productivity among skilled workers.
More Bundling The majority of university courses still use printed textbooks without requiring online supplements. But the use of added online materials is growing fast, and certainly faster than all-digital options, in which a printed book is cast aside completely.
At the University of Kansas' bookstores, for instance, the number of courses requiring print textbooks that are bundled with supplemental access codes is up to about 25 to 30 a semester, compared with 10 to 15 two years ago, says Estella McCollum, director of KU Bookstores. And those courses are typically introductory ones with large enrollments, so thousands of students are affected.
"Utilizing socially rooted tools to collaborate among colleagues and experts (that) we might not otherwise have access to improves care and improves the speed and efficiency with which we can offer that care," Luks says. This is the leading edge of a sizzling tech trend: the emergence of a new category of social-media systems designed expressly to boost workplace productivity. IBM, Oracle, SAP and Salesforce.com — and a raft of start-ups, such as Doximity — are developing and promoting these new social-media systems for the workplace. Given big corporations' resistance to change, the proving ground for social-media work tools has been unfolding mostly among small and midsize businesses, so-called SMBs, those with five to 5,000 employees.
Let's do a quick review. According to the theory of the diffusion of innovations — an attempt to understand how, why and at what rate ideas and technology spread throughout cultures — diffusion or adoption is relatively slow at the outset until a tipping point is reached. Then you enter hypergrowth, which typically happens somewhere between 10-15% of market penetration. Saturation is reached at 90%+.
With Facebook for example, assuming an estimated market opportunity of one billion, it took roughly 4 years to reach penetration of 10%. Once Facebook reached a critical mass of a million users, hypergrowth kicked in due to the network effect (i.e. friends and family were now on Facebook), as well as virality (email updates, photo albums for friends of friends, etc.). Though we could quibble, depending on our inputs, over when Facebook will reach saturation, there is no question the rate of growth has begun to slow and is now limited, if for no other reason, by the number of people who can access the service. (Here's some more on Méndez-García's Facebook and S-curve math.)
Sharing your scoops to your social media accounts is a must to distribute your curated content. Not only will it drive traffic and leads through your content, but it will help show your expertise with your followers.
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Integrating your curated content to your website or blog will allow you to increase your website visitors’ engagement, boost SEO and acquire new visitors. By redirecting your social media traffic to your website, Scoop.it will also help you generate more qualified traffic and leads from your curation work.
Distributing your curated content through a newsletter is a great way to nurture and engage your email subscribers will developing your traffic and visibility.
Creating engaging newsletters with your curated content is really easy.