If you’re doing influencer marketing right, you’ll have a lifetime relationship with your influential. And, like any family member or friend, relationships require consistent and attentive attention.
Likewise, if you’re selling high ticket items, especially products and services that require new contracts, new leases, refills, upgrades, or are pricey and powerful but highly commoditized, then you need to go well beyond simply selling widgets.
Every sale is an engagement ring that you’ve put on your prospect’s finger. The best salespeople in the world are wed to each and every one of their accounts. And, like marriage, you need to be on board for way longer than the honeymoon.
The best salesman I know is Michael Obraitis. We’ve been friends since Freshman year at GWU and he’s been selling ever since, from executive laptops sitting atop Grecian columns to hosting, bandwidth, networking, and telecom services to language-learning platforms. He’s become my mentor and I, his protégé.
He told me that the real money is in the long run. That most first-buys are tentative. That once trust is built and the relationship goes from initial excitement and newness, it’s all about showing up and doing what you say you’ll do. Only then does that magic happen. Only then, when lust turns to love, can your sales relationship grow through upsells, referrals, recommendations, and company-wide, federated, commitments and conversions. From a thousand seats to ten-thousand, from one site of ten-thousand seats to ten sites, to a hundred.
One might call it the network effect — or the bandwagon effect: “The bandwagon effect is a phenomenon whereby the rate of uptake of beliefs, ideas, fads and trends increases the more that they have already been adopted by others. In other words, the bandwagon effect is characterized by the probability of individual adoption increasing with respect to the proportion who have already done so.”
And that doesn’t happen by itself. It happens through engagement, persistence, connection, and trust. And, no matter how much momentum your network or bandwagon effect achieves, rationally, carefully, or irrationally through fad, it takes time, attention, friendliness, and a personal, human, touch — and a good, solid, innovative, reliable, and extensible product, of course — to keep folks in the network and on the bandwagon for months, years, and even decades.
It never comes down to price-per-seat or the discount offered by any one widget, it comes down to people, to relationships, to meeting needs, to solving problems, and to being responsive to needs and changes.
If you’re doing it right, there’s no difference between being a top salesman and a top PR man. What works in high-end sales works in high-end PR. Neither sales nor PR, especially influencer marketing, which is really influencer PR, can ever afford to be fire-and-forget.
Rather, both sales and PR are wire-guided, requiring keeping one’s eye on the target from the moment of first engagement all the way through the life of the relationship.
Unlike cold-calling or direct-mail “spray and pray,” picking up the phone or walking into an office’s reception is only analog to pulling the trigger. There’s lots of stuff going on before and after.
Before, there’s extensive autodidacticism required to become functionally literate in the prospects’ industry, their products and services, and their slang, buzzwords, acronyms, and corporate jargon.
Then, there’s your backgrounders, your scripts, your message models, your conditional if-thens, and some of the best even run rehearsals, attempting to channel their very best Konstantin Sergeievich Stanislavski.
With the confidence to being both method and rehearsed, the elite salesman (and PR man like) will have the answers to at least 80% of the defensive questions and query walls that any potential prospect might have without needing to back down into, “let me check and get back to you.”
The best are empowered to improvise and adapt. This is well above the pay grade of the traditional sales pressure-cooker.
Then, there’s the deep research and reconnaissance required to both discover and acquire your targets. Then there’s the search for common-ground and possible people-in-common (it’s always easier to connect with someone through friends, colleagues, fans, clients, and confidants).
Finally, there’s the choice of your tools. Which club to choose from the bag. Or, to continue in the same analogy, what’s your missile? Are you going to get dressed in your finest big boy suit and buffed and burnished briefcase? Are you going to pick up the phone and dance through the wires?
Do you plan to write the perfect pitch and send them out by hand? Are you going to dance the light fantastic amongst your connections of LinkedIn? Maybe cruise some Groups or even engage folks via Twitter and Facebook. Will you collect a dozen, a hundred, a thousand into a list and send your perfected and scrutinized pitch email via Yet Another Mail Merge or Contactually?
They’re all sound ways, especially if you start with one then try another. Walk to the offices, see if you can make magic in person, then follow up with a call, “hey, I dropped by,” and then pop a note via email and then another one a couple weeks later. Then another a couple weeks after that.
When you finally make that love connection, schedule a call or webcast or screenshare or desktop-share or demo, then you’re cooking with gas. And, even after you make the sale, ring the bell, countersign the contract, and get your first royalty check, spending it on a congratulatory bourbon, that’s simply your wedding day, the anniversary date of your marriage.
After the blush drains from your cheeks, after all the wedding gifts have been returned and re-gifted, there’s the “to have and to hold, from this day forward, for better, for worse, for richer, for poorer, in sickness and in health, until death do us part” that you really must respect, follow, and deliver.
It’s not about widgets sold, it’s not about backlink SEO, it’s not about a positive review on Yelp or the best unboxing or YouTube review, it’s about building equity over time. It’s about a partnership. And it’s about growing together into the future, even after you have both left your positions.
Never forget that all those people on your spreadsheet are not simply bunny-slipper-wearing basement trolls like you may have stuck in your mind, but they’re beautiful children of God who are not only who they are or who they have been, they’re also who they will become and what they will become.
Firing-and-forgetting is a terrible idea. You want to keep that wire connected for as long as you both shall shall wish. It doesn’t always work out but the moment you start treating people like widgets or commodities, you’re not long for this earth, be it the world of sales or the world of PR.
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I’m sure any of you who have spent time on this site appreciate the vital role content plays in building digital relationships. Perhaps what some didn’t realize was that 70-90% of a buyer’s journey occurs prior making contact with a vendor. But what about content with the product brand directly? Is it safe to say 100% takes place before actually reaching conversion? Even though most marketers still run campaigns that way it is surprisingly not so. Sure, the customer may learn about a product from a 3rd party destination like a review site, vendor site, social platform or subject blog, but does that foster a relationship or squander an opportunity to build a lasting one?
What happens to the consumer’s learning curve after his/her purchase? Or, if they never made a purchase, what then? Pre- and early digital, most of my clients were only interested in the bottom of (what we have called for years) the funnel. Only recently, most marketers have come to accept that this graphic representation of a consumer journey has changed into something almost indecipherable.
Today, we have to ask if our online presence or brand persona compliments and enables an ongoing relationship just as a brick and mortar presence (if we have one) should, or simply operates as a parallel independent entity. Does the content our brand shares actually foster familiarity with an individual beyond purchase based on common interest? Or does any of it surprise and delight? In other words, can automated content be delivered creatively, individually, and spontaneously rather than reactively?
It’s been my experience digital relationship building with a brand actually takes place much more often after product acquisition and not necessarily leading up to it. The relationship builds through direct engagement over a timeline of the customers choosing rather than via 3rd parties posting. Thus, the product brand actually is witness to the interests of a repeat sale, advocacy, and engagement through compiled data. Some call this nurturing, others would call it CRM. I like the term content intelligence.
Still, many “old school” marketers today still consider relationship building the road less traveled. They rarely act on the principle that it is far more efficient to resell existing members of their “family” than find and convince new ones from a crowded field of strangers. And they are still paying for that short-sightedness by needing to spend much more on digital ads, and living with lower conversion ratios.
The key is the pursuit and creation of continuous value within a mutually beneficial, active relationship. But buying into the logic is the easy part. Creating a framework of content and delivering the right pieces in the right sequence on an individual basis, even with the benefit of big, unstructured data is beyond the capability of many independent marketers. Once only entity’s like IBM, SAP, Google, Amazon, and the like could sift through that kind of data and draw inference. And only through example can today’s more modestly-sized marketers realize the insight Big Data can bring to their corner of marketing.
Automated functions previously relegated to strategists, content creators, and marketing management of those giants could now be scaled informing mainstream brands and vendors to make better content investment decisions and thus, show a better outcome. Not just near conversion, but throughout the relationship. Yes, you still need many tools to integrate more than structured data into a content marketing strategy. But I believe content intelligence will provide us answers if we are willing to look and I will continue with that in mind for my next post.
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Social media is more important now to businesses, and it’s an evolving part of online behavior. What was once a way to connect with friends is now a way to market businesses of all types and sizes. Social media allows businesses to share live videos and news publications, respond to customer service inquiries, and inform their audience about new products and services. With 79 percent of American internet users on Facebook, brands are actually expected to have a presence on social media and to use it as a way to keep their customers informed. Brands should have a vested interest both in securing their presence on various social media platforms and in using it to track their brand. This is where social listening comes into play.
Social listening is when brands monitor what is said about their business or industry in online conversations. A brand may follow a set of relevant keywords or their specific brand name and watch what is said about them. This can provide useful information, such as product shortcomings, so the business can utilize these insights to address problems. If you want to learn how to perfect your social listening skills, take a look at these four tips.
Get content inspiration
If you have a blog, you know that the ongoing quest to come up with fresh ideas for content is challenging. Providing valuable content is one of many ways to use your website to grow your business and social listening can help with that. Read any mentions and conversations that are happening surrounding the keywords pertaining to your industry so you can find out what questions your audience has and what they’re excited about. This can generate new ideas for your blog posts so you can share content that will get your readers hooked and coming back for more.
Identify any problems
If you are observing a specific topic, product, or service, use social listening to recognize any issues that need to be addressed. There may be a glitch in a product that consumers are discussing or a problem on an online service. Find out these snags through social listening and see what others are saying so you can take that knowledge and use it to pinpoint and correct any problems related to your brand. For instance, if you want to provide memorable air travel experiences but your customers are sharing negative comments online, you need to know. Once you’re aware of what they’re dissatisfied with, you can make some changes to improve the customer experience.
Manage your reputation
Social listening can do more than identifying problems; it can also help manage your brand reputation. Through monitoring what is being said about your business online, you can combat any potentially damaging comments or mentions that could contribute to a poor image. Customer values are transforming brands today, so you need to know what’s being said online about your brand can stay on top of its reputation.
Influencer marketing is now one of the most effective ways for brands to communicate with their audience. However, it’s not always easy to find the right influencers. Social listening allows brands to find users that are saying all the right things about their products and services in the online world and potentially recruit them to be a brand advocate.
The internet provides a lot of benefits for today’s business, and social listening is one of them. Learn what is being said about your brand online and take that information to help better your business. Leverage your findings so you can more effectively solve problems, attract new customers, and improve customer care.
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There are a few important similarities between knowledge management and social media. We use them both to obtain and access new information with the use of technology. Moreover, both of them require individuals to provide new inputs and create new content intended for sharing.
However, there is a crucial difference between these two. Knowledge management is what your company, or what your superiors want you to know, based on what they deem is crucial for your work. Social media, on the other hand, is there to tell you what you peers deem important, based on their own life experiences so far, and you are there to ascertain, judge or agree with what they have to say.
The good thing about this is that you can put social media to good use if you combine it with your knowledge management system or knowledge base software. There are few possibilities that open up in this department, and in this article, we are going to explore the role of social media in knowledge management.
A place to increase your brand awareness
One of the very important roles that social media plays in knowledge management is the possibility to increase your brand awareness. Your knowledge base probably includes blogs and wikis, or other types of online content, and as we have mentioned, social media is also a place where knowledge is shared. In such a scenario, you may argue how it will only work if your user base is also willing to share that content, because if only your friends and followers view your posts your influence will not expand.
Social media have the option to boost your post for a certain financial compensation. In other words, when you create something that is truly interesting and something you deem more valuable, then you can have that content promoted. This way, new people will see it and, if they share the same interests as your target audience, they can become your new users.
Keep your faithful users up to date
A knowledge base needs to be updated, the information offered needs to be recent, relevant and verified. Social media allows you to share these recent updates and keep your audience informed. This type of behavior is good for building trust and staying relevant.
Obtain new findings and inspiration for future ideas
Social media is not only for sharing your content. In fact, you can also see how users react to your content. In a way, you can get valuable user feedback without them completing long surveys or something similar.
Truth be told, you can’t say with certainty how an audience will react because, in many cases, they do not even see your post. But if a great number of posts remains unnoticed, then this is valuable feedback in a sense. It simply means that you need to come up with something more engaging, thought provoking and relevant.
You can also get information about what your target audience prefer in addition to your content; try to discover some patterns or connections. This way, you’ll get a valuable input on how to approach your sharable content in the future. You can test out different things, see how people react, track when the best time to post, or the age of the people who are most active on your posts.
This is really useful and you can track these activities using various online tools. Once you have these findings, you will also be able to come up with better guidelines for future content.
Find out what else is important
Social media is a place where everybody shares what they regard as important or relevant. In other words, social media can help you discover new topics and you can brainstorm on how to explore the connection between your knowledge base and that new topic.
During the year 2016, there were a lot of titles like “How to use Pokémon Go to attract new customers” or “How to use Pokémon Go to earn money” etc.
Now, there are almost no similar titles because that tide or that relevance has subsided. Trends come and go, and you should not be too disappointed if you miss one or two important things, but as long as you are up to date with what is relevant currently and what your audience wants, you’ll be able to put your knowledge base software to good use and generate something with greater relevance.
Check your own relevance
Finally, you can discover how you stand on a larger scale. Your knowledge base software can probably track shares, views, and general activity on your posts. You get to check your overall progress to see what has improved or what has decreased. Again, this allows you to notice some interesting patterns and learn from your mistakes, but also compare your relevance to your peers.
If someone who is in the same or similar line of work as you, and who presumably has a similar knowledge base that is performing better on social media, try to see what they are doing differently.
As you can see, social media can play a crucial role when it comes to organizing and improving your knowledge base as a company because you get an additional perspective, and that is what other people think or regard as important. You can explore the similarities between different concepts and, in that way, boost your relevance by creating something that other people wish to see.
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Not many small businesses currently take advantage of native advertising, so the small businesses that do gain a significant advantage over the competition. Native advertising is advertising that looks like the rest of the content on a page, even though it’s promoted and paid for. You’ve seen it when you scroll through Facebook, though you might not even realize some of those posts are sponsored. If you own a small business and haven’t looked into native advertising, now is the time to start.
Find your audience’s platform
Where does your audience hang out the most? Are you extremely active on Facebook or Twitter? Demographic clues will clue you in on where your audience is, but you can figure it out by asking yourself where you get the most follows, likes, and shares. If you don’t use social media very often, you should try to increase your activity. Pick one platform and engage with your customer base.
You should spend some time learning the ins and outs of that social media platform. Interact with your clients. Find out what they want to read, what they like about your business, and what they want more of. View what advertisements look like on that platform and learn from them. Highlight the ones that grab your attention, so you can gain inspiration from what those brands are doing. Check out what businesses similar to yours are doing right and what they’re doing wrong. Only when you’ve become familiar with how advertising and interaction work on that specific social media platform can you create effective ads.
Use existing content to create promoted posts
Your evergreen content is a wonderful resource for promoted posts on your most popular social media platform. Promoted posts reach far more users than regular posts. Since you’ve already created the content, a promoted post is a good way to get started without overwhelming yourself. Find a new way to talk about your evergreen content via a promoted post. Highlight a specific topic within the post or talk about why it’s a great read to prepare for a holiday coming up.
Existing content isn’t your only outlet for promoted posts. Your familiarity with your customers and social media should give you ideas on what your customers most want to see. Those new promoted posts will land in front of the people most likely to want to read them, so always take audience cues as a major source of content inspiration.
Be clear you promoted the content
People don’t like to feel tricked, so they won’t be happy with you if they click on a post and don’t realize it’s a piece of native advertising. You don’t have to create a huge banner or proclaim in all caps that your content is sponsored. Just state it plainly, so you give possible customers a choice about whether or not to engage with your brand.
This actually has a more positive effect than you might realize. It’s true that not everyone will click on a paid post, but the people who do click are already more interested in your brand than people who are just browsing and clicking. Those who click a promoted post are possible customers who want to hear what you have to offer.
Build your content slowly
You can’t launch a gigantic native advertising campaign overnight. It took you some time to build good web content for your small business, and it took more time to create a social media presence. Begin with a few key tactics, like those promoted posts, and go from there. Some native advertising attempts will be more successful than others. Try promoting two or three posts, then track how they do and see if there’s a significant difference in success among them.
Add new types of content
Get a little help from content marketing experts to create new kinds of content. Most small businesses don’t have the skill or equipment to create videos or infographics, even though businesses benefit significantly from posting this kind of content. If you can swing it in your budget, hire professionals to make a few how-to videos or infographics on some content you think your audience will love.
Think about how easy it is to stop scrolling through a feed if you see an interesting video. That video could be yours, and it could be in front of your customers. But if you’re going to pay to advertise your content, you want it to provide valuable information and look professional. This isn’t a good DIY project for the inexperienced, especially because the people who create the content for you usually have ways of analyzing how well it’s doing as an advertisement and can give you data you wouldn’t have gathered yourself.
Find local influencers
Are there any bloggers or social media influencers in your area? Another style of native advertising small businesses might want to try is paying them to post some of your content. This type of sponsored content is a little different from typical native advertising, depending on how you proceed. Some bloggers will want to sample your products and write a review. Others will post content you’ve created and include a note that it’s a guest post from someone at your business.
Finding the right local influencers for this kind of post is difficult. Your area might not have anyone with a following that contains enough of your target audience. Master the other native advertising tips first, then go looking for local bloggers you can connect with. This can be an extremely worthwhile way to advertise because everyone loves recommendations from sources they trust, but you have to take the time to do it right.
The way we advertise has completely changed. Content marketing and social media are valuable platforms that offer untapped potential for small businesses especially. Look at what the big corporations are doing with their online advertising. You’ll see a lot of native advertising mixed in with their content marketing. It’s time your small business got started, too.
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Ian Maclaren is attributed, along with, Philo, Plato and Socrates, with saying “be kind, for everyone you meet is fighting a hard battle.” I chopped it down to hugs not horns when I train new cadets at Gerris Corp.
This is the core of what we at Gerris do to get through thousands of micro-influencers every day, day after day. And when we have horns and have run out of hugs, and the we don’t feel kindness in our heart, we need to channel it. We need to sit on a meditation cushion, get in your best Lotus Position, and repeat after me: be kind, for everyone you meet is fighting a hard battle, be kind, for everyone you meet is fighting a hard battle, be kind, for everyone you meet is fighting a hard battle.
Fake it till you make it.
What does the quote even mean? well, according to Charles Lindsey: “it means to be aware that other people struggle, not always visibly, just as you do, and to extend them some sympathy because of it. I prefer the variant that says everyone is fighting ‘a great battle,’ because hard battle is redundant and “great battle” means sweeping, significant, meaningful–a better contrast to the fact that it’s invisible to you.”
Kindness is not an absolute. Kindness only exists in the eyes and the mind of the recipient of the kindness.
Some people shorthand this into the Golden Rule but I don’t agree. Never treat anyone the way you want to be treated, treat everyone the way they want to be treated. Folks are generally really terrible to themselves and the people around them. It may very well be a protective wall, but very few Americans, in particular, are very kind to themselves and tend to lash out the people around them, around you.
So many crappy parent who are convinced they were amazing parents and “did the best they could” which is obviously patently untrue.
And, remember, that every one of us are so consumed and distracted by our own dramas, our own neuroses, and our very own existential crises (have you read the news, your Facebook wall? If it’s not Trump it’s the maltreatment of pets) that we have a terrible time actually loving or even liking each other or ourselves to say nothing of taking the time and effort to discover and consider what other people want, need, or even how they want to be treated.
You need to give the gift that others want and not the gift you want to give. That’s why wedding registries are so brilliant and why the people who buy things not on the list are basically always going to be terrible at influencer marketing.
Yeah, it’s true: you don’t get to be the judge of whether you’re being kind, generous, or a decent person. Kindness is more Yelp than marketing materials.
It’s not about proclaiming your kindness, it’s about getting other people to buy what you’re selling.
Let me give you a hint, benefiting you from my eleven years of doing influencer marketing, fourteen years of online marketing and digital PR, and some shameless stealing from Frank Luntz, “it’s not what you say, it’s what people hear.”
So, maybe you’re not nearly as kind or gentle or generous or loving as you think you are. Other people are the arbiters of your reputation. While a lot of self-help lit and positivity posters suggest that other people don’t have the power to judge you because they don’t know your heart, when it comes to earned media micro-influencer marketing, you’re really at the mercy of everyone else, so no matter how much time you spend before your looking glass saying these earnest words, “I’m good enough, I’m smart enough, and doggone it, people like me,” remember that when you’re the face of a brand, a product, a company, or a service, you’re only as good enough, smart enough, and liked enough if the object of your pitches agree.
Of course, you can always throw money around. People suffer assholes if there’s enough money involved — at least for a little while.
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Privacy is probably one of the least appealing topics in marketing. But this one’s a doozy. On May 25, 2018, any company that is not compliance with the European Union’s new opt-in regulations is at risk of a fine of up to 20 million euros, or 4% of their global topline revenue. Yipes! Most B2B marketers have customers worldwide. The General Data Protection Regulation is something we cannot ignore.
The interesting thing about this new regulation is, it’s not about marketing per se. They are not just focused on prospecting, like the CAN-SPAM and Do Not Call regulations in the U.S. It’s about consumer control of their data, and their comfort that it’s being protected.
Linnette J. Attai, whose consultancy PlayWell, LLC, specializes in compliance, explains that the consumer is the data “subject,” and the firm with whom he does business is the data “controller.” The controller decides how the data will be used and protected, and may be supported by a “processor,” like an agency or data services provider. The controller must be able to demonstrate that the subject has agreed to the controller’s data usage and storage plans.
The data elements likely to be at issue include a name, a photo, an email address, bank details, posts on social media, medical information, or a computer IP address.
As business sellers, we may be in somewhat better shape than our consumer marketing counterparts. First of all, an existing business relationship implies consent on the part of the customer. Furthermore, the reg requires businesses to buy only from firms who are compliant. So your existing customers are probably already hounding you to amend their contracts to include GDPR language, says Attai. And if a new contact at the existing account gets involved in the relationship, they may be covered under your existing contracts. Or you could provide the required notices, ask that person to check a box on an online form, and be done with it.
But for a “net new” account, it’s murkier. In the course of business with a new customer—for example, in your contract—you need to gather their agreement as to how you will use their information. But apparently it does not always mean that you must get GDPR compliance in advance to make cold contact with prospects. Most EU prospecting data—email and direct mail lists—already include opt-in permissions. Look for prospecting data that was opted in under GDPR specifications.
GDPR also specifies various technical elements, like security levels, auditability, cross-border data transfer, and procedures for reporting data breaches. B2B firms are going to need help determining how to comply.
One helpful resource is Pauline Murphy, managing director of 1 Stop Data Limited, in the UK. She specializes in B2B prospecting, and operates a multi-language call center in Ireland that calls into the EU and the Middle East. Alongside lead generation and data hygiene calling, she offers GDPR compliance services. Seems like a nifty solution to me, since you get both a demonstrable compliance along with an extra marketing touch, plus a chance to update your customer records and add new contact names.
So, what should we all be doing? That’s the funny thing. Since the regs are new, no one is entirely sure what exactly needs to be done. But most experts advise that you take steps, and don’t dawdle. If the regulators want to make an example of a company next May, let’s not let it be yours. Get started with http://www.eugdpr.org/ and https://ico.org.uk/for-organisations/data-protection-reform/overview-of-the-gdpr/.
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We are living in times when our understanding of what is physical or digital as a product or a service gets foggier than ever. Things change, and what really matters is not how good a product is or how efficient a service might be, but how it supplements or enhances what really matters to us; to create value and be part of the value creation process and enjoy the best possible frictionless experience.
Our circumstances are speeding toward a direction we haven’t imagined before.
Until recently, selling was all about how brands create something that might be interesting to the audience out there. Now it is all about how brands can participate in the creation of value out there. Creating value and remaining relevant is critical. Organizations, especially with bigger names, failed to understand the importance of relevancy went out of business, lost market share, or were acquired by another name. We have seen this story repeat over and over during the last 15 years.
Everybody is talking about something related to digital. We all know that some years ago that digital was all about visibility and popularity (such as likes on Facebook and on Twitter). Now digital has evolved into something complicated and demands more from all of us.
The biggest mistake I see brands make is the complacency in their perception: thinking that their competition is what they believe it to be, when in fact their competition is how people see or experience it.
For example, Uber‘s app changes my expectation of FedEx, we compare United Airlines‘ customer service to Amazon‘s, HSBC‘s website with Airbnb‘s, Vodafone services with Buzzfeed.
Your competition may seem small or easy to tackle, but consumers’ expectations are based on who is best across all categories. Brands should stay smart and avoid benchmarking against their target audience and the audience’s needs, such as what might be the best possible experience for their users and customers. Users create value for other users in a constant, seamless way. Value creation happens to address needs and all it needs to flourish is a platform. People nowadays are widely influenced by asymmetrical points of interests, new triggers, content, services, reviews, comments. Smart, innovative platforms allow to brands to deliver value in pace completely unknown in the past.
People change their minds in seconds and always try to find what is more relevant to them, not which brand to follow, because they have been empowered to look for more, to ask for more. People nowadays are not after the best price but after the best value, the most well-designed product, and the product that makes them buy more, and the product that can be used with the least friction.
Friction is something that drives everybody crazy. Recently stats came out in the UK shown that people choose banks not based on the bank size, tradition, or gravitas, but rather based on ratings regarding experience at the app store. This need to look for the best, to discover new services, to question a product or a service when it becomes too complicated, is what makes people explorers.
They want to discover a new way of banking, a new way to communicate, a new way to rent their house, or to drive the car without having to pay premium to insurance companies all the time. That’s why banks like the app-based Monzo thrive, why the car sharing apps work so well, or why new insurance products come out from start-ups. This drives us to understand that the future of engagement will not only be limited to what people see, experience, and obtain.
Companies ignore industry verticals or segmentations to ensure that they control elements that are key to customers’ successful outcomes. Netflix began producing television shows like Orange is the New Black or the House of Cards to ensure a supply of fresh, popular content. Similarly, Amazon’s experimentation with unmanned drones for parcel delivery is an attempt to take control of the last mile between its warehouses and customers.
Relevancy for brands means revenues. How fast and how focused this is delivered ensures that an organization can step up faster towards the direction to learn, adopt, and deliver what people expect better than ever.
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