August 17, 2011
Currently there’s a lot of buzz around social customer relationship management (CRM). Social media platforms and technologies like Facebook, Twitter and Foursquare are transforming how companies market their products and engage audiences. But when you’re also concerned about delivering results to your clients, you’ll do well to study the evolution from traditional CRM to sCRM.
Like different forms of intelligence – abstract, practical, emotional – customer data reveals different value traits that help to assess each individual. Then we can develop programs to extract revenue from that data.
While “transactional” value has been a mainstay for decades, the web and its social media platforms have introduced new “relationship” and “influence” measures. The more comprehensive data complements CRM’s traditional indicators:
Transactional: Determines a consumer’s monetary value based on purchase recency, frequency and dollar amount. Database marketers have relied on these attributes for decades
Relationship: Predicated on information sharing activity, the type and depth of information shared by consumers is directly related to their value to the brand.
Influence: Evaluates the consumer’s social potential as an “earned media partner” based on their publishing frequency and social graph responsiveness.
The seamless integration of what we call the “Value TRInity” — transaction, relationship and influence — will be the future of CRM.
August 16, 2011
We’re are all now familiar with the Quick Response or QR Code. They have slowly begun to appear on everything from food cartons to billboards. The rise of mobile apps, as well as social media marketing as a promotional channel, offers a whole new world of opportunity for businesses via this method of ‘tagging’.
These QR tags offer as may uses as people can think of for them, which so far has been plenty. So what have been the most innovative uses and what have we learned to avoid, when using QR tags?
Read full article >
August 15, 2011
Not long ago, B2B companies thought customers wanted to buy from great companies. Marketers promoted products and services with self-important platitudes, such as:
1. We are the leader in the industry.
2. We were founded by the smartest engineer in the world.
3. Our products are unsurpassed.
Today, a few companies still cling to this old strategy, but the reality is it doesn’t work.Your customers don’t care how great your company and products are. They just want to be able to trust your company can solve their problems.
Business customers aren’t so different from consumers after all. The purchase process may be more complex and the sales cycle may be longer, but what it comes down to is this: People buy from people. You need to engage with your customers and build trusting relationships to win their business.
Read full article >