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Thursday, February 28, 2013

In Consideration of Content Marketing
I just read an article titled: “What comes after content marketing?”

It sounded like a familiar story I have seen too many times before (e.g. “Customer Satisfaction, now what?, Where do we go after customer relationship management? etc.) We’ve barely all learned the term, and someone has already decided that we have wrung all the benefits possible out of content marketing, and that it’s time to move on.  Just as with satisfaction and CRM, my only thought – you’ve got to be kidding me!

According to the Content Marketing Institute, “Content marketing is a marketing technique of creating and distributing relevant and valuable content to attract, acquire, and engage a clearly defined and understood target audience – with the objective of driving profitable customer action”.  A failure to fill-in the blanks in that definition might be what’s causing some marketers to believe that content marketing has so little to offer them that it’s time to move on. 

The issues in that definition that we all need to address are:  1) Who is that target audience we are trying to deliver the content to? 2) How can we efficiently and most effectively deliver the content to that audience?  3) What kind of action can we reasonably expect to drive? 

We believe that the most effective uses of content marketing is to deliver shareable, bite-sized pieces that educate, build emotional ties, and entertain existing customers, turning them into advocates, who build image, awareness and purchase consideration for the brand with friends, relatives, neighbors, co-workers, and even strangers (online).  If you accept that strategy then we’ve got a long way to go before any of us have achieved the full advantages of content marketing.

10:31 pm est          Comments

Wednesday, February 13, 2013

Finally Somebody Quantifies the Value of Word of Mouth
Companies today generally recognize the benefits of word of mouth, but most view the phenomenon as a magical, immeasurable, unmanageable force – or a reward for good customer care. A recent story in Ad Age (Feb. 6, 2013) finally sheds some light on the quantification of the impact of “social voice” (the combination of offline and online word of mouth).  According to research conducted by MarketShare, a 10% increase in social voice results in a sales lift of from 0.2% to 1.5%. 

Some might be quick to dismiss such small percentages, but it does means for example that a company currently generating $100 million in annual sales could, through a program that identifies their best customer advocates and stimulates their activity, to produce more frequent and more positive word of mouth, gain an additional $200,000 to $1,500,000 in revenue.
 

How much would it cost to generate that kind of lift in word of mouth? For corporations that can identify their customers by name, and even better yet for those who also know the email and street addresses of those individuals, the stimulation of the social voice can be accomplished relatively inexpensively.  Those who are already buying your product or service, and who are emotionally linked to your brand and who possess the “communicator gene” need only be provided with a bit more motivation, given some additional content, and pointed toward opportunities.  The bad news is that such a lift in word of mouth won’t just happen as the result of good service.  It can however be accomplished for a modest cost by the marketer willing to step forward away from the perceived safety of the traditional approaches. The potential sales gains are waiting to be enjoyed.

4:31 pm est          Comments


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Customer Experience Partners, LLC
Measurement, Management, Optimization
Contact us at: 203-655-0090 or
pruden@customerexperiencepartners.com

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