Get a corporate Blog and do it professionally
o Set up rules for Blogging in your company
o Look at best practise Blogs, learn what is useful and would benefit your company – apply it
Measure & Manage your Net Promoter Score
o what is your current Net Promoter Score
o where are your strengths, where are your weaknesses
o how is company positioned in comparison to your competitors
o what strategies and tools can you apply in order to make it better
Get into the dialogue with your loyal customers
o convert them into Brand Evangelists
o Build a Database with their names & specific data
o Communicate with them, build a relationship & give them benefits
o use their potential
Integrate a customer feedback system (or a CRM) and make it easy for your customers to get in contact with you.
Focus your Service on customer satisfaction & customer Loyalty
o studies have shown, that a god complain management can convert
unsatisfied customers into satisfied customers
o Net Promoter Score says that the ratio of very satisfied customers vs.
unsatisfied customers is a key metric for your company’s growth –
do you think this important?
Make use & encourage your Evangelists to create Consumer Generated Media (give them some Guidelines so they do it right)
o help and encourage them (for example give them incentives,
invite them into your company…)
create a win– win situation for all parties
In short - Connect with your customers & build a community & use their potential
Mittwoch, 4. April 2007
The Newbie Guide to Word of Mouth Marketing
Since I have started to write about Word of Mouth and its importance for Business Success, I get often asked – “So, you are the Business Psychologist, tell us what can we really do in order to make use out of this new developments in marketing and this word of mouth stuff?”
Here is the “Newbie Guide to Word of Mouth Marketing”:
1. get some of the popular books, studies and read some good Blogs about Word of Mouth, Viral Marketing,Web 2.0…
in order to get the basic understanding of the concepts and foundations of these areas (in the next weeks & months I will post something about the Word of Mouth Resources that were valuable for me)
2. find out the current situation in your company / NGO – how do you address word of mouth marketing:
a. where is your potential – where are your strengths
b. what is your USP – which tools and messages to you use to
communicate it
c. where are your weaknesses
d. where do you want to be in 5 years / what do you want to reach
at the strategic level
e. what can you do increase your strengths and remove your
weaknesses
3. next identify the things that you can do right now, the changes that have to be made in your company and the tools and strategies you want to use in order to drive growth
4. make these idea a priority in your top management (as with all important projects, the support & understanding of the top management is crucial)
Here is the “Newbie Guide to Word of Mouth Marketing”:
1. get some of the popular books, studies and read some good Blogs about Word of Mouth, Viral Marketing,Web 2.0…
in order to get the basic understanding of the concepts and foundations of these areas (in the next weeks & months I will post something about the Word of Mouth Resources that were valuable for me)
2. find out the current situation in your company / NGO – how do you address word of mouth marketing:
a. where is your potential – where are your strengths
b. what is your USP – which tools and messages to you use to
communicate it
c. where are your weaknesses
d. where do you want to be in 5 years / what do you want to reach
at the strategic level
e. what can you do increase your strengths and remove your
weaknesses
3. next identify the things that you can do right now, the changes that have to be made in your company and the tools and strategies you want to use in order to drive growth
4. make these idea a priority in your top management (as with all important projects, the support & understanding of the top management is crucial)
Memes and their importance for Viral Marketing
Those of you who want to get into Word of Mouth / Viral Marketing and understand the Basics of it - I just found a interesting portal about memes and memetics.
This explains, why certain ideas and messages succeed and spread through networks and why others fail.
You can visit the Portal here.
Another book that I recommend for this subject is the Tipping Point by Malcolm Gladwell - it explains why and how epidemics spread and what you have to do in order to reach that effect with your messages.
This explains, why certain ideas and messages succeed and spread through networks and why others fail.
You can visit the Portal here.
Another book that I recommend for this subject is the Tipping Point by Malcolm Gladwell - it explains why and how epidemics spread and what you have to do in order to reach that effect with your messages.
Dienstag, 3. April 2007
Unleashing an Ideavirus - Free Ebook on Viral Marketing
I have this book since almost half a year and I have to say it is great. It brought me a lot of interesting insights into the “next level of marketing” and what a company can do in order to really increase success.
The book is called Unleashing an Ideavirus, it is by Seth Goddin and is free.
Here is a short description:
...............................................
Treat a product or service like a human or computer virus, contends online promotion specialist Seth Godin, and it just might become one. In Unleashing the Ideavirus, Godin describes ways to set any viable commercial concept loose among those who are most likely to catch it--and then stand aside as these recipients become infected and pass it on to others who might do the same. "The future belongs to marketers who establish a foundation and process where interested people can market to each other," he writes. "Ignite consumer networks and then get out of the way and let them talk."
...............................................
Read it, it will be valuable.... - you can download it here.
The book is called Unleashing an Ideavirus, it is by Seth Goddin and is free.
Here is a short description:
...............................................
Treat a product or service like a human or computer virus, contends online promotion specialist Seth Godin, and it just might become one. In Unleashing the Ideavirus, Godin describes ways to set any viable commercial concept loose among those who are most likely to catch it--and then stand aside as these recipients become infected and pass it on to others who might do the same. "The future belongs to marketers who establish a foundation and process where interested people can market to each other," he writes. "Ignite consumer networks and then get out of the way and let them talk."
...............................................
Read it, it will be valuable.... - you can download it here.
Web 2.0 and Consumer Generated Media
Since Web 2.0 has started, it has become very easy for people to publish websites, write about their experiences with Brands, buzz about their opinions and promote their favourite products or to put up hate sites for companies they don’t like.
This so called Consumer Generated Media is becoming more and more powerful, since Google’s search algorithm makes it easy to find word of mouth at the top categories. The other fact is that people belief more in what other customers have to say about a brand, then what a brand has to say about itself with advertising (of course this is depended on how powerful your brand image is, but most of the time it is true). This makes it crucial for a brand to interact with its Influential Customers.
Just to give you a short list of Consumer Generated Media:
- Blogs enable everybody who can use the Internet to publish his / her own websites
- New mobile technology enables (mostly younger) customers to produce videos with almost no effort
- YouTube enables these people to publish their videos online
- Word of Mouth in Online Communities - before buying a product a lot of people look into the internet in order to see what users have to say about the product
Today Consumers are generating even more marketing messages then the companies itself. Companies have no other choice then to connect and communicate with their customers, otherwise the marketing will happen without them.
Ressources:
If you want to know more about CGM and how to manage it – take a look at the Blog.
Read about how Web 2.0 has changed Marketing.
There are some very interesting studies of the Keller Fay Group about Internet Word of Mouth and Consumer Generated Media - highly recommended.
This so called Consumer Generated Media is becoming more and more powerful, since Google’s search algorithm makes it easy to find word of mouth at the top categories. The other fact is that people belief more in what other customers have to say about a brand, then what a brand has to say about itself with advertising (of course this is depended on how powerful your brand image is, but most of the time it is true). This makes it crucial for a brand to interact with its Influential Customers.
Just to give you a short list of Consumer Generated Media:
- Blogs enable everybody who can use the Internet to publish his / her own websites
- New mobile technology enables (mostly younger) customers to produce videos with almost no effort
- YouTube enables these people to publish their videos online
- Word of Mouth in Online Communities - before buying a product a lot of people look into the internet in order to see what users have to say about the product
Today Consumers are generating even more marketing messages then the companies itself. Companies have no other choice then to connect and communicate with their customers, otherwise the marketing will happen without them.
Ressources:
If you want to know more about CGM and how to manage it – take a look at the Blog.
Read about how Web 2.0 has changed Marketing.
There are some very interesting studies of the Keller Fay Group about Internet Word of Mouth and Consumer Generated Media - highly recommended.
The future of Marketing and how to manage it professionally
I just had a talk with some marketing experts about the future of marketing and what changes will probably happen. We agreed on some points that I will post in the Blog, these are things every company should know about and engage into (or at least each company should have some people that are good in these areas) in order for to become more successful and efficient:
Building and managing a strong brand
- Professional Brand Management is the Foundation for everything
- Building a strong, emotional brand image that people remember and associate good feelings and images
- Celebrating your brand, so people can experience it, connect it with emotions and talk about it
- good positioning in your market
- …. (this is a long but important list)
Management of Connected Marketing
- Word of Mouth Marketing
- Buzz Marketing
- Viral Marketing
Get people talking about your Product and make it virus worthy, so they spread your brand message into their social networks.
Generating and Managing Buzzworthy PR
Here are two definitions to make it more clear (taken from Connected Marketing):
A PR Consultant is “a applied social scientist who advises a client on the social attitudes and actions he or she must take in order to appeal to the public on which it is dependent”.
PR practice is the discipline which looks after reputation, with the aim of earning understanding and support and influencing opinion and behaviour. It is the planned and sustained effort to establish and maintain goodwill and mutual understanding between an organization and its public.
Managing Web 2.0 Marketing
Making professional use of:
- Blogs / Blog marketing
- Social Networks like MySpace, StudiVZ, Friendster….
- Games like Second Life, Word of Warcraft (huge potential if applied correctly)
- Video platforms like YouTube, MyVideo
- Viral advertising
- Online Communities
- Tracking Tools
- Website, Email, Newsletters.. (the traditional tools)
Neuromarketing / Marketingpsychology
Understanding how and why Marketing and advertising really work and how you can make your advertising and marketing messages really efficient
Evangelism / Opinion Leader Marketing
- the Art of building relationships with influential people and getting them to evangelise and provide good word of mouth about your product
- since 10 % of the western population tell the other 90 % what to buy, it would be beneficial to get in contact with these opinion leaders, recruit them for your company – make them loyal and let them spread good word of mouth about your brand
- Integrated Communication of Connected marketing, Blogs and Social Networking
Integrated Communication of all your marketing channels
- have a core message and a strong brand with emotional values
- communicate this message with all your communication channels in order to create a clear picture in the
mind of the consumer
- align all your marketing channels (Direct Mail, Sales Personal, Video Communication, Online Marketing…) so
they all communicate the same powerful message and desirable emotional benefits of your brand
Making Use of Consumer Generated Media and Open Source Marketing
-> see my entry about CGM
Using the Long Tail Approach to sell more of your products and services
-> Read more about this in The Long Tail
List to be continued…
Building and managing a strong brand
- Professional Brand Management is the Foundation for everything
- Building a strong, emotional brand image that people remember and associate good feelings and images
- Celebrating your brand, so people can experience it, connect it with emotions and talk about it
- good positioning in your market
- …. (this is a long but important list)
Management of Connected Marketing
- Word of Mouth Marketing
- Buzz Marketing
- Viral Marketing
Get people talking about your Product and make it virus worthy, so they spread your brand message into their social networks.
Generating and Managing Buzzworthy PR
Here are two definitions to make it more clear (taken from Connected Marketing):
A PR Consultant is “a applied social scientist who advises a client on the social attitudes and actions he or she must take in order to appeal to the public on which it is dependent”.
PR practice is the discipline which looks after reputation, with the aim of earning understanding and support and influencing opinion and behaviour. It is the planned and sustained effort to establish and maintain goodwill and mutual understanding between an organization and its public.
Managing Web 2.0 Marketing
Making professional use of:
- Blogs / Blog marketing
- Social Networks like MySpace, StudiVZ, Friendster….
- Games like Second Life, Word of Warcraft (huge potential if applied correctly)
- Video platforms like YouTube, MyVideo
- Viral advertising
- Online Communities
- Tracking Tools
- Website, Email, Newsletters.. (the traditional tools)
Neuromarketing / Marketingpsychology
Understanding how and why Marketing and advertising really work and how you can make your advertising and marketing messages really efficient
Evangelism / Opinion Leader Marketing
- the Art of building relationships with influential people and getting them to evangelise and provide good word of mouth about your product
- since 10 % of the western population tell the other 90 % what to buy, it would be beneficial to get in contact with these opinion leaders, recruit them for your company – make them loyal and let them spread good word of mouth about your brand
- Integrated Communication of Connected marketing, Blogs and Social Networking
Integrated Communication of all your marketing channels
- have a core message and a strong brand with emotional values
- communicate this message with all your communication channels in order to create a clear picture in the
mind of the consumer
- align all your marketing channels (Direct Mail, Sales Personal, Video Communication, Online Marketing…) so
they all communicate the same powerful message and desirable emotional benefits of your brand
Making Use of Consumer Generated Media and Open Source Marketing
-> see my entry about CGM
Using the Long Tail Approach to sell more of your products and services
-> Read more about this in The Long Tail
List to be continued…
The Net Promoter Score & why it is important for your Business
A lot of studies have shown, that what people say and think about your brand & company is directly related to the profit and sales your company makes. If people are talking negative word mouth about your brand, it is likely that your profits will be affected negative by that. If they talk positive about you, this will also be reflected in your sales.
There is a more or less new metric that explains this interesting Correlation, take a look at the Net Promoter Score by Fred Reichheld and Paul Marsdens Articles on Seed to Spread and Advocacy drives growth.
Some may argue – is that really true, do I really have to care what my customers think, can’t I just do my marketing and tell my customers what to think about my company and brand…?
Maybe this was true 60 or 70 years ago but since Web 2.0 the time has changed, people are connected now through tools like Blogs, Forums, Websites… and produce more marketing themselves then a company can do, this term is called Consumer Generated Media and it will play a leading role in future marketing.
There is a more or less new metric that explains this interesting Correlation, take a look at the Net Promoter Score by Fred Reichheld and Paul Marsdens Articles on Seed to Spread and Advocacy drives growth.
Some may argue – is that really true, do I really have to care what my customers think, can’t I just do my marketing and tell my customers what to think about my company and brand…?
Maybe this was true 60 or 70 years ago but since Web 2.0 the time has changed, people are connected now through tools like Blogs, Forums, Websites… and produce more marketing themselves then a company can do, this term is called Consumer Generated Media and it will play a leading role in future marketing.
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