From Fans and Followers to Customers and Advocates Jacob Morgan
Principal, Chess Media Group Author, Twittfaced Blogger: jmorganmarketing.com Traveler, Chess Lover, and Explorer Twitter: @JacobM Desert Safari, Dubai
Let’s Start with the Numbers Terracotta Warriors, Xi’an, China
Member communities reach more internet users (66.8%) than email (65.1%) (Nielsen “Global Faces on Networked Places”)
Fastest growing sector for Internet use is communities (5.4% in a year)
43% of consumers say that companies should use social networks to solve the consumers' problems ( Cone Business in Social Media Study)
7% of organizations understand the CRM value of social media according to the Brand Science Institute, European Perspective, August 2010.
The Three most influential factors for consumers when deciding which company to do business with are: personal experience (98%), company’s reputation or brand (92%), and recommendations from friends and family (88%) (American Express)
Atlantis Hotel, Dubai
The Customer is Changing. Is Your Company? The traditional customer is the one we all were as recently as a decade ago. We bought products and services and based our decisions on utility and price. We communicated with the companies we were dealing with by letter, phone call, and occasional e-mail, if they had the facility to do that. But that customer changed because of a social change in the early part of the millennium. The customer seized control of the business ecosystem and it was never the same .“ ~ Paul Greenberg, Author of CRM at the Speed of Light
Product issues are PRODUCT ISSUES Don’t bribe your customers, fix the problem!
“ By 2010 more than half of companies that have established an online community will fail to manage it as an agent of change, ultimately eroding customer value . Rushing into social computing initiatives without clearly defined benefits for both the company and the customer will be the biggest cause of failure .” ~ Gartner Group Dubai desert