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Some very good points here!
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Excerpted from article:"According to the Harvard Business School, increasing customer retention rates by 5 percent increases profits by 25 percent to 95 percent.In order to help you increase your own retention rates, we’ve compiled a list of our 15 favorite tips (backed by academic research and case studies) on increasing customer loyalty, divided into five easy-to-browse sections.- CommunicationIt’s hard to create loyal customers if they aren’t paying attention to you. Given this fact, below are our favorite bits of research on clear communication with customers.1. Stand for something;2. Utilize positive social proof;3. Invoke the inner ego;- SellingIf customers don’t enjoy your selling process, they’ll likely never do business with you again. Thus, selling to customers the “correct” way is an integral part of creating customer loyalty. Below are a few studies to help you improve the process.4. Use the words they love to hear;5. Reduce pain points and friction;- ReciprocityReciprocity is the social construct that makes the world go ’round… or in your case, keeps your customers coming back. The premise is simple: Go above and beyond for customers and get rewarded with repeat business. The execution, however, can be trickier, so below is a compilation of interesting research on how to improve reciprocity with your customers.6. Realize that budget is negligible;7. Utilize surprise reciprocity;8. Make it personal;- SupportThis one is a no-brainer: You can’t create a tribe of loyal customers without an exceptional customer service experience that keeps them coming back. In this section, we’re going to bust a few customer service myths wide open, as well as tackle some important things you need to keep in mind when offering support online.9. Speed is secondary to quality;10. Customers enjoy businesses who know them;11. Choose the right platform;12. Make it a communal effort;- Loyalty ProgramsThe key to creating customer loyalty programs that work is to know why customers use them and what gets customers to keep using them. Below you’ll find consumer research that answers these questions.13. Get people started;14. Get ideal customers to be VIPs;15. Label your customers..."Each tip is analyzed with more information. Read full article here:http://www.convinceandconvert.com/social-media-marketing/15-important-tips-to-help-you-keep-your-customers/
According to the Harvard Business School, increasing customer retention rates by 5 percent increases profits by 25 percent to 95 percent.In order to help you increase your own retention rates, we’ve compiled a list of our 15 favorite tips (backed by academic research and case studies) on increasing customer loyalty, divided into five easy-to-browse sections.
I'd like to add a few thoughts here:
Customer retention is all about value creation and engagement. Don't make it all about your brand, some fun and entertainment such as polls, infographics, sweepstakes, pictures, videos etc. go a long way in retaining interest in your brand.
With the overload of one-dimensional posts on social pages of brands, it's even more important for marketers to go that extra mile to gauge the pulse of your community. That said, you have to build a community first.
Social networks and communities are different, although there may be some overlap. It's these communities which will really provide momentum to your campaigns. By brining like-minded people together as part of these communities, businesses come across as more transparent and supportive than agressive. This is because in a community individuals come together and that gives them the power to decide collectively, to spread the word and take actions which are not forced on them.
If brands recognise this, they will understand that building communities and not just social networks is the way forward. Community building takes more than a few promoted posts and luring customers in with discount coupons, it takes sustained effort at building trust. And if a company manages to achieve this, the rewards are plentiful as their customers will then act as their brand ambassadors helping spread the message organically.
So my advice to marketers is be open, be responsive, be socially responsible and build trust through sustained effort.
Please let me know your thoughts.
Excellent piece - read Convince and Convert #leadership
How’s your company culture doing?
Is it a powerful, positive impact for employees every day, reinforcing your core values in how the work gets done so everyone knows how they’re contributing to achieving your vision and mission?
Don't assume you're doing OK. You know what that makes ...
Change is not the problem - resistance to change is the problem. The most common beliefs and reasons that people resist change - Torben Rick
The real skill then is assisting people to cope with change. As professional advisers, our great crew can help you navigate those unchartered waters...
Change is the only constant - learn to live with it!
Evitar trampas comunes en la gestión del cambio.
This article speaks to organizational change work, but I think it equally applies to doing community change work.
The world has never been so full of knowledge. We need leaders that search out the best knowledge, act today to prepare for a better tomorrow.
Could not agree more....
(From the article): The world needs good leadership, our nation needs leaders, our businesses need leaders. Leaders and managers that have a hunger and thirst for knowledge, improvement, and execution. These are the people that will get ahead, these are the people that will understand, these are the people that will have a brighter future – because, “There is no tomorrow to remember if we don’t do something today”
From article : "There is no tomorrow to remember if we don't do something today"
Most workplace disputes and disasters can be traced back to one thing: a lack of leadership. So, what’s the absolute No. 1 most important leadership trait in the history of the universe?
It's not only a Leadership trait, it's THE interpersonal skill that we can all benefit from....especially if you are in business, or married...
The Beak family has worked in the meat industry for four generations – and counting. That’s an astonishing 130 years of combined experience that David Beak has drawn upon to create the perfect sausage.
Always good to share great stories....
Who in your organization has the most direct impact on how your customers perceive the company? This, of course, varies by industry, but it’s rarely ever your senior executives.
WE have often heard that the only thing constant in life is CHANGE. While this has proven true in every arena of our personal and professional lives, we still seem ill-prepared whenever it is upon us.
MAke sure you involve your professional advisers when needing to make changes in your business. They can provide input from a different perspective.
To help businesses cope with today’s progressively complex and competitive demands, a new research report titled “Rising to the Challenge
The great crew at Trumans are here to help you navigate through good times and not so good...it's smooth sailing with Trumans
Bullies destroy your company. Not only do they destroy the culture of your company, they destroy the ability of employees to produce their best work.
Can be difficult to remove a bully, particularly if they are the boss...
When Telstra manager Dale Hargreaves slipped down the stairs in her socks while working from home, she set off shock waves around the country.
Do you think you’re ready to start your own business? If you’ve got a great idea and feel it’s finally time to take the first entrepreneurial step, ask yourself the following questions before you start:
...and don't forget to speak with your accountant. At Trumans, our great crew help you chart the right course.
What works in Stuttgart won't work in Shanghai.
In our very multicultural society and workplaces, this is a very timely article.
LinkedIn is expanding in Australia at a phenomenal rate. In an exclusive interview, its chiefs tell of the progress and plans of the professionals’ social networking site, which is set to disrupt industries from media to recruitment.
If you are in business and want to increase your network, LinkedIn is a must.
From humble beginnings meeting my co-founder in an online chat room, we've grown Bigcommerce to the fastest growing eCommerce platform in the world that helps SMEs get online and sell more.
...time to check up on your knowledge of e-Commerce?
Don’t get me wrong, I still believe that we should still be investing in “things” such as technology to put into the hands of our students as they can give us some transformational opportunities for learning, but our best investment, in any organization, is always people.
I have been hearing too many stories of people having to jump through so many hoops to go and learn on their own. As a professional we should also be able to invest in our own learning, but we have to see that people are doing this quite often and when they learn they bring value to the organization as well.
People...without them your organization doesn't exist.
This fits with my last Tweet:
@DClaphamK12: Good article, we all should be viewing Professional Learning as our best return on an investment.http://t.co/pOtPlsoWfF
The book Conscious Capitalism calls for a higher purpose for business and lays out a roadmap on how to get there.
Great book, highly recommended!
A higher purpose of business that goes well beyond their finances is on the rise worldwide where the aim is to do both good for the planet and well for stakeholders. Join the movement...
Uses 7 questions that plague Martin Scorsese on movie projects, to explain what project managers can do to improve their leadership skills.
Great blog on linking Martin Scorsese's POV on his way of working to general Project Management and Leadership: "As I read the list of 7 questions that plague Mr. Scorsese, I had an a-ha moment: if Martin Scorsese deals with these same questions that I do, it makes encountering and tackling them that much easier to deal with."
The writer refers to an interview in FastCompany (http://www.fastcompany.com/1793518/martin-scorsese-vision-hollywood)
There is no denying that Twitter is an exceptional social media platform, but how many organisations really make the most of the 140 character window of opportunity it offers and how much impact can it really have as a business tool?
You have to be in it to win it....
It was certainly an exciting year in social media for brands in 2012, with many intriguing industry developments. Given that the pace of innovation in social will only increase this year, what will 2013 hold for brand marketers as they seek to capitalize on today’s trends?
Forget the empty platitudes.Your star employee is not a "godsend," he/she is a person worthy of appreciation and respect, who deserves your frequent acknowledgment. When was the last time you thanked him/her - really thanked him/her?
It's just to easy to ignore good manners these days. All the management books tell us recognition is the greatest form of reward!
Wise entrepreneurs put systems in place from the onset to ensure customers come back again and again.
Ultimately, continued excellent service will win out over price...
HR is like Ben Affleck and Argo? Well, yeah.
Since Argo is based on a true story, we knew the ending before the movie even started. And it is a tribute to the director, Ben Affleck, that we were sitting on the edge of our seats as the story was coming to an end.
HR is a lot like that sometimes.
An interesting article with some great points...
Leading, managing and operating a business are 3 very different things. Here's how to tell which you might be good at and which...not so much.