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Friday, August 31, 2012

Why Give Them What They Want?
According to a recent study conducted by the CMO Council, mobile phone users aren’t very loyal to their service providers.  The study findings indicate that only 34% of the 1,660 individuals who completed the global survey had stayed with the service provider for more than five years, and only 29% characterized themselves as “loyalists”. 

I have to believe that the real cause of this business problem was buried in the findings when read in conjunction with a companion study that the CMO Council conducted around the same time period with 147 marketers at many of the same companies serving those customers (communications service providers or CSPs for short) worldwide.

After all, it seems that the consumer study makes it pretty clear that what phone customers seeks is  “assurance that their longstanding loyalty will be repaid with service and relevant communications instead of paying high fees to receive enhanced Web services".  Yet despite such clarity of message, the CSP marketers apparently feel they know better and insist on maintaining their focus on “technology innovation and advancement”.

Yet they probably wonder why costly customer churn continues.
10:22 am edt          Comments

Thursday, August 9, 2012

What’s Facebook worth? Not as a stock but to a marketer

There has been plenty of discussion lately about the value of advertising on Facebook.  Statements by GM and others have probably helped fan the flames of the downward decent of the Facebook stock price.  But the one issue that there really shouldn’t be any dispute about is the impact that individual Facebook and other social media posts from consumers can have on a given brand’s image and sales.

A recent study from eMarketer tells us that: 

87% of people agreed that positive comments, reviews, and opinions reinforced their decision to purchase a product or service that had been recommended to them.

80% of people agree that negative comments, reviews, and opinions caused them to change their mind about purchasing a product or service that had been recommended to them.

That’s a pretty powerful message.  In regard to the negative comments some marketers are monitoring social media to hear what is being communicated about their brand.  A considerably smaller number are actually taking immediate action to try to resolve the customer’s issue and calm the outcry. 

To date the big opportunity of managing customer word of mouth to generate more frequent and more positive word of mouth is being ignored.  We at Customer Experience Partners have a process that can achieve that goal.  We just can’t seem to get the dialogue started.  Want to talk about it?

11:44 am edt          Comments

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Measurement, Management, Optimization
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