Social Networks: What They’re Saying About You
It is a well-known fact that when a customer is happy, they will tell at least three people.
On the other hand, it has also been documented that if a consumer is dissatisfied they will tell 15 people. So what are they saying about you?
In these days of social media, those numbers are sure to increase at least ten-fold, and as they do the question arises: How can you get more consumers working for you, and fewer against?
A great place to start is understanding customer satisfaction and to do that, you must create a remarkable customer experience, one they cannot wait to tell others about. Consumers want to be “wowed,” and for that to happen you must exceed their expectations. However, to state the obvious, that’s not always easy to do.
Robert Stephens, founder of Geek Squad, now owned by Best Buy, has said, “Advertising is the tax you pay for being unremarkable.” Mr. Stephens had a very small advertising budget when he formed his company, so his marketing goals included finding inexpensive ways to be visually creative. He also realized that paid advertising is just one portion of a total marketing budget.
A well-rounded marketing campaign usually includes several facets of promotion, and discovering the right mix to be competitive and gain market share is the key to success.
Today, an increasing number of consumers are using one or more forms of social media to connect with friends and family. They are sharing everything that goes on in their lives. What an opportunity for brand awareness and product marketing!
Future customers are forming opinions about you right now; you need to know what they’re thinking and, of greater importance, what they’re saying to others.
We live in a new world and along with everything else, how you market to consumers has changed. Get ahead of the game (and your competition) by harnessing the power of social networks. Sit at the same table as your customers to see what is being said about your products and stores. Understanding your consumer relationships will lead to greater market share and a better bottom line.
Gregory Yankelovich is CEO and co-founder of Amplified Analytics, a market intelligence company that uses proprietary algorithms to monitor online consumer feedback and measure the difference between customer expectations and their actual product experience. For more information call (415) 742-2580, visit www.amplifiedanalytics.com or email Yankelovich at greg@amplifiedanalytics.com.
Gregory (@piplzchoice) commented:
@ZoetMB You are absolutely right, it really doesn't matter how imperfect are conditions and rules of social engagement, or how unfair and unbalanced are opinions expressed. As long as an exchange of these opinions takes place, they do affect public perceptions of products and brands.
"Know how to listen, and you will profit even from those who talk badly." -Plutarch
ZoetMB commented:
I agree that the world of social media is important, but it's also a place where any affront, no matter how minor, will result in tons of negative and frequently unfair feedback.
What I love the most about some of these sites is where rumors get out of control, a manufacturer announces the real product, it's not the same as what was rumored and then people complain.
And obviously, trolls are a big problem. Until sites require users to fully identify themselves, such sites have very little credibility IMO, although I suppose they will still impact customer perceptions.
Bill Matthies commented:
I've had the opportunity to use Amplified Analytic data and can vouch for the efficacy of what they do.
If you sell a product or service to consumers, you need to use social media and track what people are saying and thinking about your product/service.
AA does that.
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