I wonder why sometimes –well, actually many times, corporations deny free advertising. This happens all the time when a university or post-graduate student chooses a corporation as a case study for a subject. They deny to give information about the company and its activities. I certainly understand that some information is confidential and classified and they cannot reveal it but there are many things that they can pass to a student or a group which chooses that corporation as their assignment.
This is the way I think, correct me if I am wrong:
When a student or a group approach me I would at least be kind enough to listen to them. When they say that they chose me as their assignment that would be a great occasion for my company because they know my company and they respect it. They chose ME! They prefer to study me because either I have conquered their hearts or at least I have an impact (even a negative one) on them. That is publicity; and it’s free. By all means I don’t want to waste it! I will release the information that is not confidential and with great pleasure, as a matter of fact. That information will not go to the competition; that would be presented in a class full of potential customers. Many students will hear about me, they will get aware of me, they will learn about my tactics, they will remember me when they purchase relevant products and ideally they will switch brands. Actually the student or the group of students, with this assignment may switch brand because they will inevitably get highly involved. Even if they are already buying my products now, at least I have that information available and I have built some relations.
In most cases corporate managers deny that information either out of luck of time -customer acquisition and public relations seems to them like a waste of time!!!- Or they just don’t care! They usually don’t even deny that information kindly; they just ignore you like they want to irritate you as much as possible. Well Done! You turn your prospective customers into enemies which will never buy again from you and furthermore they will spread negative publicity about you!
Showing posts with label marketing. Show all posts
Showing posts with label marketing. Show all posts
Sunday, September 09, 2007
Saturday, August 18, 2007
BusinessBalls
I have discovered a great site that I wanted to share with you. It’s called Business Balls (visit it at: businessballs.com). You will find there a great collection of articles about sales, marketing, management, HR and other business topics. Moreover there are lots of downloadable business tools and resources like PDF documents and MS office documents like word, excel and powerpoint. That collection is really huge and great. You can find a lot of templates, matrices and other cool stuff for business organization, better planning, reporting and feedback. Do pay a visit there and you will be really amazed like I was!
Wednesday, August 15, 2007
Why Second Life is a great marketing tool?
Note: This is not a thorough list but some quick thoughts that just occurred to me.
Because it is very unlikely that someone will randomly visit an unknown site (that is yours) to him/her. In second life someone may wander around and come across your virtual office or home.
Because it can be suited both for high and low involvement products and services: It can generate sales of products and services that are usually bought on an impulse (commodities, low involvement, etc). On the other hand it can create increased brand loyalty and preference (even brand awareness) for high involvement products (When someone visits one major brand’s store, a real shopping experience may be simulated).
Because everyone could freely network, join groups, make connections with others. In real world and even in other forms of online communication, sometimes things are more (not difficult but) complicated.
Sunday, May 06, 2007
CSR and True Devotion…
Here is a tough question: Is it really possible for a firm to show real devotion to a cause or social initiative? I mean real and authentic interest. Do you believe that this can be the case? Most of the companies that have implemented a CSR program claim that they are truly interested in solving or contributing to a social problem. They do not cite as their main reason for a CSR campaign the branding and marketing benefits that by all means seek. I personally believe that almost all the companies that are involved in a corporate social responsibility initiative and cause have as their prime goal branding and marketing benefits. However, in this pursuit for differentiation and advantage they can make a truly great impact in the society. I also hold the opinion that there might be a very small percentage of corporations that are devoted to a cause because of the cause itself and not for all the potential (marketing and branding) benefits that they may reap.
Monday, April 23, 2007
Professional blogging
Blogging for money or fame? There are two types of professional bloggers: Those who blog for money and those who blog to brand their businesses or themselves.
The former earn money mainly from advertising and sales. They advertise through an advertising network such as google Adsense, BlogAds, etc, or they manually arrange advertising deals.
The later blog about products, services and information that they sell through their blog or another linked site. The sales model may be consisted of their own made products or affiliate products.
The former earn money mainly from advertising and sales. They advertise through an advertising network such as google Adsense, BlogAds, etc, or they manually arrange advertising deals.
The later blog about products, services and information that they sell through their blog or another linked site. The sales model may be consisted of their own made products or affiliate products.
Monday, March 19, 2007
Customer complaints
How do you handle customer complaints? Do you take them into account?
Having a box and a pack with complaint forms in the corner of your store doesn't sound like a proactive way of managing customer complaints and measuring satisfaction! Do you offer a form with every product or service you deliver? What about customers who are in their own place? Do they have access to these forms? Do you personally ask each and every customer about the level of service and satisfaction they perceive when they consume your products and services? These are proactive ways of handling customer complaints. You need to show real and authentic interest to your customers. You should encourage them to air their grievances. Bear in mind that your goal is not just a one time purchase but repeated sales. How are you going to achieve that if you have dissatisfied customers?
I know many people (I also am one of those!) that when they get dissatisfied with a service or product they will never buy from that company ever again. You certainly don’t want this happen. Furthermore, these customers do not complain or argue with you. They just leave quietly. You need to feel when a customer is dissatisfied or even not pleased with your level of service and try to change his/her attitude before he/she switches brand and left you wandering what went wrong. Complaint management is not as obvious as it sounds mainly because you don’t always get those disappointment messages. So next time you interact with a customer try to be a little more thorough, ask questions, view from the customer’s angle and be proactive.
Having a box and a pack with complaint forms in the corner of your store doesn't sound like a proactive way of managing customer complaints and measuring satisfaction! Do you offer a form with every product or service you deliver? What about customers who are in their own place? Do they have access to these forms? Do you personally ask each and every customer about the level of service and satisfaction they perceive when they consume your products and services? These are proactive ways of handling customer complaints. You need to show real and authentic interest to your customers. You should encourage them to air their grievances. Bear in mind that your goal is not just a one time purchase but repeated sales. How are you going to achieve that if you have dissatisfied customers?
I know many people (I also am one of those!) that when they get dissatisfied with a service or product they will never buy from that company ever again. You certainly don’t want this happen. Furthermore, these customers do not complain or argue with you. They just leave quietly. You need to feel when a customer is dissatisfied or even not pleased with your level of service and try to change his/her attitude before he/she switches brand and left you wandering what went wrong. Complaint management is not as obvious as it sounds mainly because you don’t always get those disappointment messages. So next time you interact with a customer try to be a little more thorough, ask questions, view from the customer’s angle and be proactive.
Wednesday, February 14, 2007
Traditional products’ marketing & a practical advice on how to become more effective in your business (whatever field you are in).
In the weekend I and my girlfriend were on vacation on a small town (very popular as a tourist attraction). One day in a traditional tavern they gave as after lunch a shot of a traditional drink. It was a sweet liqueur which helps one to digest food. Later on that day as we wandered through the main road of the town which is full of little shops that sell traditional products and souvenirs, we found that drink (which is called Tentoura) and we both instantly bought one bottle for our relatives. It was a very impulsive purchase. The same kind of purchases has occurred to us many times in the past and surely has happened to most of the people. The point here is that one “clever” shop owner of traditional products may exploit those impulsive purchases. He/she may make a deal with tavern owners to supply them for free with Tentoura on the condition that they give each client a shot of that drink after lunch or dinner. It’s a win-win situation; both the tavern owner and the shop owner earns from that kind of strategic alliance. I firmly believe that the shop owner will boost up his/her sales. Thing here is that (I believe) it’s hard to imagine such a marketing technique if you weren’t told about (at least it didn’t occur to me).
I mention the above story because it led me to the following (and now very obvious to me) conclusions:
We often say that one should think from the customer’s perspective and get on his/her shoes to figure out more ways to service one and market to him/her. Personally I totally agree with the above statement; however how was it likely to me to think of the above (marketing) technique? I mean, ok, I am going to think from the customer’s point of view…hm …em …let’s put some ads in the town’s stations and populated places…hm… let’s post an article on traditional products in the local newspaper/magazine or website…etc. To think out of the box – off the beaten track is easy to say but sometimes hard to actually do. Just thinking from the customer’s perspective many times is not enough; one should simulate customer’s experiences: he must go on vacation (although he is in his origin), he must live and act as a customer and try the same experiences and actions. Thinking is not enough; one may need to acquire some input (feelings, thoughts, senses, impressions, etc.). How can one implement the above conclusion? Try to find out a solution/opportunity/challenge not only with thorough thoughts but by interacting with people, places, objects; get a lot of input from anything you get in contact with.
I mention the above story because it led me to the following (and now very obvious to me) conclusions:
We often say that one should think from the customer’s perspective and get on his/her shoes to figure out more ways to service one and market to him/her. Personally I totally agree with the above statement; however how was it likely to me to think of the above (marketing) technique? I mean, ok, I am going to think from the customer’s point of view…hm …em …let’s put some ads in the town’s stations and populated places…hm… let’s post an article on traditional products in the local newspaper/magazine or website…etc. To think out of the box – off the beaten track is easy to say but sometimes hard to actually do. Just thinking from the customer’s perspective many times is not enough; one should simulate customer’s experiences: he must go on vacation (although he is in his origin), he must live and act as a customer and try the same experiences and actions. Thinking is not enough; one may need to acquire some input (feelings, thoughts, senses, impressions, etc.). How can one implement the above conclusion? Try to find out a solution/opportunity/challenge not only with thorough thoughts but by interacting with people, places, objects; get a lot of input from anything you get in contact with.
Monday, February 12, 2007
Advertising – Human Ads
Human Ads:
- Word of mouth
- Celebrity marketing
- Body advertisements (e.g. Tattoos of brands)
- Surname ads = name of brands (to change one’s surname to a brand’s name)
The first three are obvious and well-discussed. As concerns the forth, I have never seen that kind of advertising anywhere or heared of something similar. One day I thought that someone could just change his/her surname into a brand’s name for advertising purposes.
Offers for body advertisements can one find very often on Ebay.
- Word of mouth
- Celebrity marketing
- Body advertisements (e.g. Tattoos of brands)
- Surname ads = name of brands (to change one’s surname to a brand’s name)
The first three are obvious and well-discussed. As concerns the forth, I have never seen that kind of advertising anywhere or heared of something similar. One day I thought that someone could just change his/her surname into a brand’s name for advertising purposes.
Offers for body advertisements can one find very often on Ebay.
A Branding Dilemma
Suppose you have created your own super widget and you want it to spread it and to be branded and put on thousands of other blogs, websites, etc. Widget is consisted of one squared area with the widget’s main function in the center of that square. You then add a link (usually) on the bottom of this square which refers to your website (the widget’s webpage) and to the sign-up / register / download – get yours page. Now a real marketing dilemma is raised: Suppose your widget is called PerWid (i.e. Perfect Widget ;-)). Do you put PerWid’s logo and name on that bottom link or you just add a plain link that writes “get yours instantly”? There are 2 approaches in that problem: The branding approach which enforces us to use logo and widget’s name as much as possible for several advantages (brand awareness, brand recognition, brand repetition & recall) and the simplicity approach, the approach corporations like google use. The later approach is based on the fact that if one sees the widget and likes it, he/she will click the link to get one for himself/herself too. You don’t need to confuse him/her with logos, brands and marketing tricks. I like it, I download it, I use it! (I cite that this is the google’s approach because google use to have a very simple and plain interface; no extra graphics, impressive effects, sounds, colors, etc. It only has the name of the search engine and the search bar; real simple and real clever! Sometimes success comes out of unexpected, of surprisingly different and controversial. We used to think that if we add more buttons and more graphics and more stuff we give customers more options and more features and thus more satisfaction but is this so? Don’t we just confuse visitors?
Does simplicity approach has any meaning in this particular example (the widget application)? Or the “normal” marketing – branding approach is better? I really don’t have any answer to that question. Should one use the common approach or try to differentiate? Of course both approaches are right but one might be better. Which one do you think?
Does simplicity approach has any meaning in this particular example (the widget application)? Or the “normal” marketing – branding approach is better? I really don’t have any answer to that question. Should one use the common approach or try to differentiate? Of course both approaches are right but one might be better. Which one do you think?
Monday, May 08, 2006
2 uses for blogs
Blogs are useful to a lot of people. I blog and I bet you blog too. Whether you have a business blog, a little mall (exploiting SEO friendly and rich content blog) or a personal diary one thing is for sure: your blog is useful. The fact is that blogs can be used literally for every use. There is no limit other than one’s imagination.
In this post I will cite the two professions that are most benefited from blogging. These are journalists and writers. Journalism through blogging is a very effective mean for establishing one’s reputation, fame, for doing one’s passion and also a must for beginners. Writers can also be great benefited: they can post small samples of their work. This is similar to offline merchandising: just think it like a bakery that uses scents to lure passersby to shop. Moreover, writers can also start their career from blogging as this can facilitate the process of being noticed and stand out from the crowd.
Because of journalists’ and writers’ products being intangible word arrays, blogging is the perfect carrier.
In this post I will cite the two professions that are most benefited from blogging. These are journalists and writers. Journalism through blogging is a very effective mean for establishing one’s reputation, fame, for doing one’s passion and also a must for beginners. Writers can also be great benefited: they can post small samples of their work. This is similar to offline merchandising: just think it like a bakery that uses scents to lure passersby to shop. Moreover, writers can also start their career from blogging as this can facilitate the process of being noticed and stand out from the crowd.
Because of journalists’ and writers’ products being intangible word arrays, blogging is the perfect carrier.
Friday, May 05, 2006
Business Strategy Evolution: Part C
This is the third part of some thoughts about how business strategy will evolve in the future. Have a look below to see the previous part too. These were my thoughts at this time. Should I have more thoughts about this topic at a later time, I will post it.
Information Overflow
Businesses were always striving for more information to enable them decision-making and more accurate predictions. That led to advanced information systems, technological advancements, IT departments stuffed by experts, ERP, CRM and other software to handle all that information. That information race however led to information overflow. Moreover web 2.0 made information available to all consumers and facilitated its exchange and sharing thus resulting in companies having to manage that overflow both internally and externally. Nowadays companies will have to adopt sophisticated systems to easily and effectively manage information flow into the corporation, out of the corporation and furthermore track and take (some) control of the relevant information that exists out there. Imagine a dissatisfied blogger posting his/her grievances on his/her blog and even worse commenting on thousands of other about your bad customer service or product. How a company can track that information and find ways to answer back or apologize for a bad incidence?
Further Segmentation of Markets
Another characteristic of modern markets is its variety and diversity of products. A single need can now be satisfied with hundreds if not thousands of similar products. Companies have developed targeting and niche markets in order to succeed and survive in the long-term. However competition is now starting to even strike niche markets and highly targeted consumers have plenty of alternatives options. In the not to far future, businesses of all sizes will have to segment the market they deliver to, even more. They will have to develop more niches, target at even tighter groups and aim at keeping their clients loyal and satisfied. It will not be easy anymore to substitute a dissatisfied customer with a new one, so customer service and loyalty programs are number one success factors. Thus for business to find their niches, they will have to strive more: it will be difficult to track them, advertise at them and convert them to customers and later on to advocates (very loyal customers, free and quality advertisers). Businesses will have to offer a lot more to get far less that they used to. Common advertising will be highly ineffective of course.
Information Overflow
Businesses were always striving for more information to enable them decision-making and more accurate predictions. That led to advanced information systems, technological advancements, IT departments stuffed by experts, ERP, CRM and other software to handle all that information. That information race however led to information overflow. Moreover web 2.0 made information available to all consumers and facilitated its exchange and sharing thus resulting in companies having to manage that overflow both internally and externally. Nowadays companies will have to adopt sophisticated systems to easily and effectively manage information flow into the corporation, out of the corporation and furthermore track and take (some) control of the relevant information that exists out there. Imagine a dissatisfied blogger posting his/her grievances on his/her blog and even worse commenting on thousands of other about your bad customer service or product. How a company can track that information and find ways to answer back or apologize for a bad incidence?
Further Segmentation of Markets
Another characteristic of modern markets is its variety and diversity of products. A single need can now be satisfied with hundreds if not thousands of similar products. Companies have developed targeting and niche markets in order to succeed and survive in the long-term. However competition is now starting to even strike niche markets and highly targeted consumers have plenty of alternatives options. In the not to far future, businesses of all sizes will have to segment the market they deliver to, even more. They will have to develop more niches, target at even tighter groups and aim at keeping their clients loyal and satisfied. It will not be easy anymore to substitute a dissatisfied customer with a new one, so customer service and loyalty programs are number one success factors. Thus for business to find their niches, they will have to strive more: it will be difficult to track them, advertise at them and convert them to customers and later on to advocates (very loyal customers, free and quality advertisers). Businesses will have to offer a lot more to get far less that they used to. Common advertising will be highly ineffective of course.
Thursday, April 27, 2006
Business Strategy Evolution: Part B
Ok, this is the second part of the evolution of business strategy. I have some thoughts but unfortunately very few spare time to write them down and post them here... This is the second part which is very short but I am already working on the third (and maybe last) part.
The Beta Products
Harsh competition forced many companies to speed the process of product development and resulted in a model where customers are also testers of the early stages of products. Beta versions are very popular and common on the internet. Furthermore beta versions apply more to services and tangible products rather than regular products (I can’t imagine Beta toothpaste!). Two are the key points when discussing the beta products: Firstly, betas mean less testing for the company thus lower investments. Lower investments lead to lower risks associated with product failure. So, we come to the second point: The collaborative model where business and customer cooperate for the interest of both (company for increased profits, customer for better experience). In that model, customers constantly give valued feedback to the company and in a way they actively participate in the product development.
So in brief, Beta products help companies be ahead of competition and lower the risk of product failure, which in normal occasions is very high (the majority of products fail either in development or at their launch).
The Experience Approach
Businesses are trying a different approach in delivering products; a holistic approach. From the core product, we have advanced to an escorting set of services as a point of differentiation. From now on, companies are starting to transform products’ & services’ consuming to “Experiences”. That is a new emerging approach that is unexploited yet. Experience means more integration of services, more customer satisfaction and a strong focus on loyalty and value for customer.
The Beta Products
Harsh competition forced many companies to speed the process of product development and resulted in a model where customers are also testers of the early stages of products. Beta versions are very popular and common on the internet. Furthermore beta versions apply more to services and tangible products rather than regular products (I can’t imagine Beta toothpaste!). Two are the key points when discussing the beta products: Firstly, betas mean less testing for the company thus lower investments. Lower investments lead to lower risks associated with product failure. So, we come to the second point: The collaborative model where business and customer cooperate for the interest of both (company for increased profits, customer for better experience). In that model, customers constantly give valued feedback to the company and in a way they actively participate in the product development.
So in brief, Beta products help companies be ahead of competition and lower the risk of product failure, which in normal occasions is very high (the majority of products fail either in development or at their launch).
The Experience Approach
Businesses are trying a different approach in delivering products; a holistic approach. From the core product, we have advanced to an escorting set of services as a point of differentiation. From now on, companies are starting to transform products’ & services’ consuming to “Experiences”. That is a new emerging approach that is unexploited yet. Experience means more integration of services, more customer satisfaction and a strong focus on loyalty and value for customer.
Monday, April 24, 2006
The Evolution of Business Strategy: Part A
I saw a post in one of the blogs I read (The Messaging Times) about the evolution of Strategic Management and Business Strategy. See the post here: http://www.messagingtimes.com/blog/?p=218. Dmitry Linkov (http://www.dmitrylinkov.com/) is writing his Master Diploma work and he can use some help and thoughts about the evolution of business strategy and management.
Below I post some of my thoughts about the subject… this is the first part:
SME Shelter
The internet is the last frontier for small and medium sized businesses in order to compete with the contemporary giants. I foresee two possible scenarios:
The Referring Economy
Another trend that will gain much popularity and importance is the “Referring Economy”. Referring Economy is the system in which each individual will have great referring power and he/she will be in position to make really great impact in economy and markets. This goes further than the average affiliate selling program; each of us will have a great amount of information and choices thus enabling us to refer others to use the services and consume the products either we know and trust or we have a vested interest at them. Viral marketing and word-of-mouth will be the case in the first occasion and affiliating / referring the later.
Below I post some of my thoughts about the subject… this is the first part:
SME Shelter
The internet is the last frontier for small and medium sized businesses in order to compete with the contemporary giants. I foresee two possible scenarios:
- Web 2.0 and modern internet trends will shelter small and medium sized businesses and will become the strategic center where these businesses will answer back and proactively claim customers’ attention and preference. That will happen through management of change, customer careful listening / trend watching and finally through advanced specialization, know-how, intensive and innovative ways to compete.
- Big corporations and multinationals will fast and easily respond to the latest trends such as blogging, internet affiliating and referring, infolust, etc. They will carefully adapt those latest developments and moreover they would be available to evolve those concepts to even more innovative projects and wealth channels for them.
The Referring Economy
Another trend that will gain much popularity and importance is the “Referring Economy”. Referring Economy is the system in which each individual will have great referring power and he/she will be in position to make really great impact in economy and markets. This goes further than the average affiliate selling program; each of us will have a great amount of information and choices thus enabling us to refer others to use the services and consume the products either we know and trust or we have a vested interest at them. Viral marketing and word-of-mouth will be the case in the first occasion and affiliating / referring the later.
Saturday, August 20, 2005
Kinds of Corporate Social Initiatives and major problems-challenges when designing a Corporate Social Responsibility Program
Those involved with the development of corporate social responsibility initiatives always face the problem of which kind of corporate programs about social responsibility to adopt. This is indeed a great challenge for a marketer and may lead to an unprecedented success or a complete disaster! Hence there is great need for a careful plan to be designed and be successfully integrated. Although there are several categories that social initiatives fall in, it is preferable for a company to choose one or more categories rather to implement many different programs which will likely cause little cooperation and may confuse the customers. A full descriptive study about different types of CSR initiatives is included in Kotler’s and Lee’s book: Corporate Social Responsibility. The writers group the most common CSR programs (those which fall into the corporate social responsibility concept umbrella) in 6 categories: cause promotion, cause related marketing, corporate social marketing, corporate philanthropy, social responsibility practices and employee volunteering. Also note that this categorization is not the only one. For example many companies choose to categorize programs in group of similar activities such as environmental activities etc. Or other companies implement social responsibility programs categorized according to the respective stakeholder. For each CSR category there are specific steps in creating the plan of action. Many of these steps are similar for different categories or even exactly the same.
The second more important decision, beyond what social issue should one get tied with, is if one should include partners (both for-profit or not-for-profit) and if so, what partners and what kind of partnership to tie? Partnerships can play a very important role in a CSR’s program success. Strong Partners can wield great influence upon pressure groups and consumers and thus they can reinforce the company’s brand name and add value for the firm. Moreover partners can link the company with several stakeholders, they can add validity and reliability to a CSR initiative and provide with the necessary know-how.
The second more important decision, beyond what social issue should one get tied with, is if one should include partners (both for-profit or not-for-profit) and if so, what partners and what kind of partnership to tie? Partnerships can play a very important role in a CSR’s program success. Strong Partners can wield great influence upon pressure groups and consumers and thus they can reinforce the company’s brand name and add value for the firm. Moreover partners can link the company with several stakeholders, they can add validity and reliability to a CSR initiative and provide with the necessary know-how.
Subscribe to:
Posts (Atom)
