“Consumers have more choices than everbefore. More media choices, more choicesor products and services. There aren’tthree TV networks; instead, there are amillion (literally) things to watch onYouTube. There aren’t a dozen radiostations; there are a million (literally) online.As a result, the consumer has the power tosay, “If I’m not interested in what you haveto say, I won’t watch it. I’m not a hostageany longer.”Seth Godin in his book, Meatball Sundae http://sethgodin.typepad.com/
Some evidencesPeople aged 12 - 24 are notching up 23 cumulative hours a day,engaged in up to ﬁve activities simultaneously.NMA, April 2009On the phenomenon of "continuous partial attention": over 25% ofInternet users surveyed in the UK, FR, DE, IT, US, and Japan inOctober 2008 said they go onto the Internet at the same time aswatching TV "most of the time".Ofcom, November 200836% of UK broadband users (aged 16-55) state they have both theTV and Internet on in the same room every day. On weekdays thetime when TV and Internet multi-tasking is most likely to happen isaround 8pm in the evening.TNS/YouTube Media & Audience Study (broadband users aged 16-55), December 2008
Time & Investments The forecast for print is foreboding. Marketers are expected to continue cutting their print advertising budgets for the next half- decade, spending $32.3 billion in 2016, 10% less than what they invested in print ads in 2011. Spending on TV promises to be largely unaffected by growing online ad budgets, although the gap between the two is set to narrow JPMorgan Forecasts A 10.5 Percent Rebound In U.S. Display Advertising in 2010 significantly. U.S. marketers are expected to spend $72 billion in TV advertising in 2016, up 18.6% from 2011. http://www.techcrunch.com/2010/01/04/jpmorgan-advertising-2010/ Overall, it looks to be a healthy year for the ad industry, with total U.S. ad spending forecast to grow by 6.7% to $169.5 billion. eMarketer attributes the bump to investment in campaigns ads and mobile advertising. Total ad spending is set to reach nearly $200 billion by 2016, of which online will account for a third.
How and What to measure: just say “no” to fluffy metrics. The problem all these audience metrics have, whether you’re talking about an online website’s visitors, a magazine’s circulations numbers, or a television program’s gross rating points, is that none of them are actually reﬂective of how many people actually saw, listened to, or otherwise engaged with your ad. why would we fantasize that it is possible to measure anything accurately across the entire World Wide Web? The only metrics that can be measured accurately are how much the advertiser spends (expenses) and how much they make (revenue). I recommend advertisers get their own Web metrics in order, and learn how to tie them to the only reports that matter: P&L, Balance Sheet & Cash Flow. 1. They must continuously work with their audience to understand its needs and focus on providing relevant content and advertisements. 2. They must work with publishers to help them clearly deﬁne what they’re trying to accomplish. They must deﬁne key performance metrics (e.g., the actions that will deﬁne their success). http://www.grokdotcom.com/2007/07/13/what- 3. Work with advertisers so that the ads they produce are contextually advertisers-should-be-measuring/ relevant to the content they are producing. 4. Make sure advertisers continuously optimize the ads to achieve better results. 5. Constantly be in discussions with the audience so the promises that marketers make are being met (e.g., not pissing off YOUR audience). the only time people react to an ad is if it’s relevant to them.
Where toact Special operations “Display” Adv Online promotion Direct Search Adv
PremisesCost to Acquire Customers (CAC)The ability to monetize those customers, or LTV (which stands for Lifetime Value of a Customer) http://www.forentrepreneurs.com/startup-killer/
Customer acquisition cost Besides a future marketing campaign, the Internet marketing consultant will evaluate the current advertising campaign that the company has. Any advertising costs spotted by the Internet marketing consultant that is equal to or more than the customer acquisition cost should be reviewed. Once the Internet marketing consultant knows the customer acquisition cost, he can then use this as a reference point to gauge new means of attracting customers. Companies should be about the customer and not themselves if they want to stay in business. A good Internet marketing consultant knows that all businesses need customers to survive. To acquire and keep a customer, a business has to show a customer how their product or service beneﬁts the customer. Every company needs a good customer service or customer relations department also. Internet marketing consultants should design an efﬁcient customer acquisition strategy. Customers want to know and feel secure that if they do have a problem with the product or service that there is some sort of warranty from the company. To retain a customer, a company has to provide good communication with the http://www.webdynamic.com.au/online- customer. Customers want to know that they are appreciated by the company. internet-marketing/customer-acquisition- Customers want to feel satisﬁed with the product or service that the business is cost.html providing, and they want to be treated with respect.
Customer retention & valueretention 1. Increasing purchases as tenure grows: a. over time, customers come to know their suppliers. Providing the relationship is satisfactory, trust grows while risk and uncertainty are reduced. Therefore, customers commit more of their spending to those suppliers with whom they have a proven and satisfactory relationship. Also, because suppliers develop deeper customer intimacy over time, they can enjoy better yields from their cross-selling efforts. 2. Lower customer management costs over time: a. the relationship startup costs that are incurred when a customer is acquired can be quite high. It may take several years for enough proﬁt to be earned from the relationship to recover those acquisition costs. For example, it can take six years to recover the costs of winning a new retail bank customer. In the B2B context in particular, ongoing relationship maintenance costs such as selling and service costs can be low relative to the costs of winning the account. Therefore, there is a high probability that the http://searchcrm.techtarget.com/feature/ account will become more proﬁtable on a period-by-period basis Customer-retention-vs-value-retention as tenure lengthens. These relationship maintenance costs may eventually be signiﬁcantly reduced or even eliminated as the parties become closer over time. In the B2B context, once automated processes are in place, transaction costs are effectively eliminated. Portals largely transfer account service costs to the customer. In the B2C context, especially in retailing, the assertion that acquisition costs generally exceed retention costs is hard to prove. This is in part because it is very difﬁcult to isolate and measure customer acquisition costs. Ecommerce make it more measurable 3. Customer referrals: a. customers who willingly commit more of their purchases to a preferred supplier are generally more satisﬁed than customers who do not. They are therefore more likely to utter positive word-of- mouth and inﬂuence the beliefs, feelings and behaviours of others. Research shows that customers who are frequent buyers are heavier referrers. For example, online clothing customers who have bought once refer three other people; after ten purchases they will have referred seven. In consumer electronics, the one- time customer refers four; the ten times customer refers. The referred customers spend about 50 to 75 percent of the referrers spending over the ﬁrst three years of their relationship. However, it is also likely that newly acquired customers, freshly enthused by their experience, would be powerful word-of-mouth advocates, perhaps more than longer-term customers who are more habituated. 4. Premium prices: a. customers who are satisﬁed in their relationship may reward their suppliers by paying higher prices. This is because they get their sense of value from more than price alone. Customers in an established relationship are also likely to be less responsive to price appeals offered by competitors.
Balancing flows leveraging on online http://www.forentrepreneurs.com/startup-killer/
CRM Key principles 1. Attracting new customers costs more than retaining existing customers a. A satisﬁed customer stays with a company longer, spends more and may deepen the relationship. For example a happy credit card customer may enlist the company’s ﬁnancial services and later take travel insurance. b. This is an easy “sell”, compared with direct marketing campaigns, television advertisements and other sophisticated and expensive approaches to attract new customers. 2. Customer service costs real money a. Real costs are associated with providing customer service and companies spend in line with a customer’s value. If you are a high value customer or have the potential of being high value, you will be serviced more carefully. b. Companies reduce the cost of customer service by using telephone voice response systems, outsourcing call centers to cheaper locations, and self-servicing on the internet. However, companies risk http://www.mftrou.com/quality-customer- alienating customers through providing an impersonal service. service.html c. Some internet banking companies are bucking the trend by charging customers to contact them. In exchange, customers receive better interest rates due to reduced overheads and are satisﬁed with that. 3. Understand your customers’ needs and meet them a. How can you meet your customers’ needs, if you don’t know them? To understand your customer’s needs, just listen to the “voice of the customer” and take action accordingly. b. Customer listening can be done in many ways, for example feedback forms, mystery shopping, and satisfaction surveys. Some companies involve senior employees in customer listening to ensure decisions beneﬁt the customer as much as the company. 4. Good process and product design is important a. Good quality customer service is only one factor in meeting customer needs. Well designed products and processes will meet customers’ needs more often. Quality movements, such as Six Sigma, consider the “cost of quality” resulting from broken processes or products. Is it better to service the customer well than to eradicate the reason for them to contact you in the ﬁrst instance? 5. Customer service must be consistent a. Customers expect consistent quality of customer service; with a similar, familiar look and feel whenever and however they contact the company. b. Say you visit an expensive hairdressing salon and receive a friendly welcome, a drink and a great haircut. You are out of town and visit the same hairdressing chain and get no friendly welcome, no drink and a great hair-cut. Are you a satisﬁed customer who will use that chain again? Probably not, as you did not receive the same customer service – which is more than a good hair-cut. 6. Employees are customers too a. The quality management movement brought the concept of internal and external customers. Traditionally the focus was on external customers with little thought given to how internal departments interacted. Improving relationships with internal customers and suppliers assists delivery of better customer service to external customers, through reduced lead-times, increased quality and better communication. b. The “Service-Proﬁt Chain” model developed by Harvard University emphasizes the circular relationship between employees, customers and shareholders. Under-staffed, under-trained employees will not deliver good quality customer service, driving customers away. Equal effort must be made in attracting, motivating and retaining employees as is made for customers, ultimately delivering improved shareholder returns. Better shareholder returns mean more money is available to invest in employees and so the circle continues. 7. Open all communications channels a. The customer wants to contact you in many ways – face to face, by mail, phone, fax, and email - and will expect all of these communication channels to be open and easily inter-mingled. b. This presents a technical challenge, as it requires an integrated, streamlined solution providing the employee with the information they need to effectively service the customer. 8. Every customer contact is a chance to shine a. If a customer contact concerns a broken process, then empowered employees will be able to resolve the complaint swiftly, possibly enhancing the customer’s perception of the company. Feeding back this information allows corrective action to be made, stopping further occurrences of the error. b. If you inform customers about new products or services when they contact you, you may make a valuable sale, turning your cost centre into a proﬁt centre. This is only possible when you have a good relationship with your customer, where you understand their speciﬁc needs. A targeted sales pitch will have a good chance of success, as the customer is pre-sold on the company’s reputation. 9. People expect good customer service everywhere. a. Think about an average day – you travel on a train, you buy coffee, you work. You expect your train to be on time, clean and be a reasonable cost. You expect your coffee to be hot and delivered quickly. You expect your work mates to work with you, enabling you to get the job done. b. People become frustrated when their expectations are not met, and increasingly demand higher service quality in more areas of their lives. c. Providing outstanding customer service at the right price is the holy grail of most companies. It is worth remembering that we all experience customer service every day. We can learn from these and apply them in our own line of work, whatever it may be. The quality of customer service will make you stand out from your competitors – make sure it’s for the right reasons
CRMStrategy 1. Setting a Clear Customer Experience Strategy a. Often organisations confuse deﬁning a customer experience strategy with creating a "slogan". How many companies create a slogan without any supporting initiatives, thereby disillusioning employees and creating a "ﬂavour of the month?" b. To establish a good strategy certain key practices are required: i. * Understand the overall organisational vision and mission ii. * Deﬁne the organisations customer service direction, slogan and values iii. * Ensure customer service is deﬁned as a key responsibility for the business/department iv. * Share the customer experience strategy via a comprehensive communications program v. * Ensure that this strategy does not conﬂict with other business strategies. As consultants, it is amazing how often we hear organisations say, "Improving Customer Service is a priority, and we are also introducing stringent cost-cutting measures."http://www.teamtechnology.co.uk/ This can present a tough dichotomy.customerservice.html 2. Selecting the Correct People a. Its really hard to teach an elephant to dance! b. When recruiting employees to provide customer service, the process often tends to concentrate more on functional expertise, technical competence and knowledge rather than interpersonal skills. However, lack of the right attitude can drastically impact client satisfaction levels. Research has in fact shown that attitude is the most important requirement: skills and functional expertise can be taught. c. Therefore in selecting the right people: 3. Developing, Motivating and Managing your People a. Even though you have hired the right people, there is still a need to orient them into the organisations customer relationship culture and deﬁne key communication skills. In Call Centers and Technical Support departments, there is a tendency to rely on technical/ functional skills and neglect interpersonal skills development. This can result in providing acceptable material service, the more tangible aspect, yet unacceptable personal service, the competitive differentiator. b. Therefore to build a customer relationship culture, it is important to: i. * Provide training in key areas required to deliver exceptional personal service ii. * Reinforce these skills using ongoing coaching and feedback iii. * Measure current performance levels iv. * Reward performance using a combination of monetary awards and non-monetary recognition 4. Establishing Effective Service Delivery Processes a. Effective processes and procedures provide the foundation for smoothing or inhibiting the material service element of the customer interaction. Efﬁcient service delivery systems appear transparent to the customer. Poor systems create those speed bumps that necessitate personal intervention in order to satisfy the customer requirements. b. The critical elements in ensuring a positive material customer experience are: i. * Mapping the service delivery processes ii. * Evaluating critical success points in the process iii. * Deﬁning service standards and objectives for these essential points iv. * Establishing service delivery procedures to optimise material service v. * Creating service level agreements to smooth internal service delivery 5. Building in Continuous Improvement a. No matter how effective the service delivery processes, or well- trained the service deliverers, things go wrong. Products have faults. Customers get frustrated. Things slip through the cracks. The organisations that are built around managing the customer experience are able to resolve these issues effectively. This process known as "recovery" is an important differentiator in building customer loyalty. b. In order to recover effectively, it is necessary to: i. * Actively seek customer feedback and complaints: you cannot improve if you dont know what went wrong in the ﬁrst place. ii. * Train staff how to handle customer complaints effectively using the correct mix of empathising, apologising and resolution. iii. * Make sure that the real problem is solved, not just the symptoms. iv. * Focus on proactive (prevention) as well as reactive (cure) problem solving. 6. Ensuring Managers are the Key Change-Agents a. As consultants, we observe that senior management often has the vision, intention and commitment to introduce a comprehensive customer relationship management system. The "make or break" element is in involving middle management in the change process, and empowering them to be the key change-agents. b. To do this, it is important to: i. * Engage the management team early and often in the process ii. * Involve management members in articulating the customer experience strategy iii. * Teach managers coaching skills so that they are able to articulate and reinforce the key personal service skills iv. * Use managers as facilitators when rolling out interpersonal skills training v. * Reward managers on establishing, monitoring and updating service delivery processes vi. * Ensure managers are able to act as an example to their teams.
Customer Service: where “etiquette” comes out Customer service etiquette principles should be integrated into every facet of your organization because providing superior customer service is the most effective way to differentiate your business from the competition. Build prosperous relationships by treating customers as you want to be treated. 6 Principles of Customer Service Etiquette: 1. Smile and demonstrate good manners. Teach employees to smile, leading by example. Establish a culture of high quality customer service and commit to deliver superior service whether over the phone or face-to-face. 2. Make customers feel comfortable, valued, and appreciated. 3. Treat customers with respect, empathy, and efﬁciency. 4. Listen actively to be responsive and exceed customer expectations. 5. Effectively resolve the customers problem. 6. Say "Thank you" and "Please" graciously. http://www.successwithetiquette.com/ Social Network are just another face of your Customer Relationship Strategy
Planning CRM - The Approach http://blogs.hbr.org/merholz/2009/06/a-framework-for-building-custo.html
Customer Touch points Key-concept Online Touchpoints an Example (Talisma Corporation Customer interaction tools)
Business Intelligence skills, processes, Business Intelligence (BI) refers to technologies, applications and practices used to support decision making. BI technologies provide historical, current, and predictive views of business operations. Common functions of Business Intelligence technologies are reporting, online analytical processing, analytics, data mining, business performance management, benchmarking, text mining, and predictive analytics. Business Intelligence uses technologies, processes, and applications to analyze mostly internal, structured data and business processes while Competitive Intelligence, is done by gathering, analyzing and disseminating information with or without support from technology and applications, and focuses on all-source information and data http://en.wikipedia.org/wiki/Business_intelligence (unstructured or structured), mostly external to, but also internal to a company, to support decision making.
How Are People Behaving on Your Site Google Analytics | Sito web ufﬁciale http://www.youtube.com/watch?v=DO-TJWbuZ6s
Online Reputation Management Online reputation management, or ORM, is the practice of consistent research and analysis of one’s personal or professional, business or industry reputation as represented by the content across all types of online media. It is also sometimes referred to as online reputation monitoring, maintaining the same acronym. Speciﬁcally, the online media that is monitored in ORM is: 1. Traditional or mainstream websites 2. Social networks 3. Consumer Review sites 4. Social news/bookmarking sites 5. Collaborative Research sites such as Yahoo Answers, Rediff Q&A 6. Independent discussion forums 7. User-generated content (UGC)/Consumer Generated Media (CGM) 8. Blogs 9. Microblogging (Twitter....) 10. Blogging communitieshttp://en.wikipedia.org/wiki/Online_reputation_management
Online reputation measuring tools 1. Search & Aggregators a. i. http://www.trackur.com/ 1. To begin with, well look at Trackur. This new tool scours blogs, news sites, images, and videos for you to track your name, company brands, industry trends, or even news about your competitor. The tool allows you to search for a keyword or keywords, but also allows you to ﬁlter that search to include only instances where that keyword is coupled with other words and/or ﬁlter out instances where certain other keywords are present. Once the search has been customized, it can be saved and then subscribed to via an RSS feed or email. The items Trackur ﬁnds can also be bookmarked or emailed. http://mashable.com/2008/12/24/free- brand-monitoring-tools/ b. http://www.readwriteweb.com/archives/ how_to_manage_your_online_reputation i. http://www.google.com/alerts .php 1. One of the simplest and easiest ways to track something on the way, your reputation or otherwise, is to use Google Alerts. With this free service, you can search either all of Googles properties, or you can 34 Online Reputation Management specify that only News, Blogs, Web, Video, or Groups is searched. You Tools - Small Business Marketing can then conﬁgure the Alerts results to be emailed to you either as it happens, once a day, or once a week. There is also a page where you Free Online Reputation Management can edit the alerts once they are created or delete them when they are Beginner’s Guide no longer in use. Top 10 Free Tools for Monitoring Your Online Reputation c. i. http://technorati.com/ 1. The blog search engine Technorati is also a good free resource for tracking whats being said in the blogosphere. The service indexes posts as they are published and with any search you do on the site, there is an RSS button that you can use to subscribe to the search. When viewing the results on the web site, you can click between tabs to see just the Posts, Blogs, Photos, or Videos containing your search terms. d. MonitorThis i. ii. http://alp-uckan.net/free/monitorthis/ 1. A simple online tool called MonitorThis lets you subscribe to results of a search from 22 different search engine feeds at the same time. The engines searched include the main search engines like Google, MSN, and Yahoo, as well as smaller engines like Plazoo, Blogmarks, and Topix. The results are provided in OPML format. Although you have to copy and paste the code into a ﬁle you create on your computer in order to subscribe, its still worth checking out as the list of engines searched makes this a good resource. e. Create Your Own Custom Search 2. Social Search a. i. http://www.socialmeter.com/ 1. Social meter scans the major social websites to analyze a webpages social popularity. Currently we scan Del.icio.us, Digg, Furl, Google, Jots, Linkroll, Netscape, Reddit, Shadows, Spurl, Technorati, and Yahoo My Web. b. i. http://socialmention.com/ 1. Social Media Alerts Like Google Alerts but for social media. Receive free daily email alerts of your brand, company, CEO, marketing campaign, or on a developing news story, a competitor, or the latest on a celebrity.Social Mention is a social media search engine that searches user-generated content such as blogs, comments, bookmarks, events, news, videos, and microblogging services. It allows you to track mentions of your brand across all of these areas. Other social search engines include Serph and Keotag. c. i. http://www.keotag.com/ 1. A service from Keotag is a great tool for bloggers and those researching a topic in the blogosphere. The site lets you just search for items that are tagged with a particular keyword. d. i. http://friendfeed.com/search/advanced ii. FriendFeed (FriendFeed) is a social aggregator. You have the ability to take all of your social accounts, such as YouTube (YouTube), Delicious, Twitter, blog, and Flickr (Flickr), and pull them together into a single (Friend) feed. You can conduct searches on your brand throughout all social networks at once using this search engine. iii. Aside from learning about the latest video or tweet related to your topic, you can analyze comments that people make under them. FriendFeed users tend to favorite and comment on what you share and tracking it will become more important as this service grows in population. You can also receive alerts straight to your desktop with Alert Thingy. 3. Blog Comments a. i. BackType ii. Backtype is a tool for monitoring blog comments. If people commented on various blog posts, citing your name, you never used to have a way of tracking it, until now. Backtype is a service that lets you ﬁnd, follow, and share comments from across the web. Whenever you write a comment with a link to your Web site, Backtype attributes it to you. 4. Social Comments a. i. http://www.yacktrack.com/search ii. Yacktrack lets you search for comments on your content from various sources, such as Blogger (blogger), Digg (Digg), FriendFeed, Stumbleupon (StumbleUpon), and Wordpress (WordPress) blogs. For instance, if you comment on a blog, you can locate other people who are commenting on that same blog post and rejoin the conversation. iii. My favorite feature of this tool is the “Chatter” tab, which allows you to perform keyword searches on social media sites and then notiﬁes you of instances of your brand name. Yacktrack’s search page results also give you an RSS feed for the search term. You can also use Commentful and co.mments to track your social comments on the web. 5. Discussion Boards a. i. http://www.boardtracker.com/ ii. Along with blogs and traditional news stories, discussion boards are another channel where people can gather in a community and talk about you. Most people disregard discussion boards until they see other sites commenting on information viewed on them. Use boardtracker.com to get instant alerts from threads citing your name. iii. Boardreader and Big Boards are other tools that work similar to this one 6. Twitter a. i. http://search.twitter.com/ ii. Twitter (Twitter) messages (tweets) move at the speed of light, and if you don’t catch them they will spread like a virus. Using Twitter search (tweetzi Twitter Search), you can locate any instances of your name and decide whether you want to tweet back or ignore them. It really depends on the context and meaning of the tweet. iii. Conduct a search for your name, your company’s name, or various topics you’re interested in and then subscribe via RSS. Twilert and TweetBeep are additional tools you can use to receive email alerts. 7. Tools & Services a. i. FiltrBox 1. While all the other tools listed are quite rudimentary, this one is rather complex and intelligent. Instead of being hit with hundreds or even a thousand results for your brand name, Filtrbox only delivers the most relevant, credible mentions of things you need to track. Its “FiltrRank” technology scores content based on three dimensions: contextual relevance, popularity and feedback. You can look back to previous searches 15 days out for free as well. 8. Your Network a. networkA lot of people overlook a strong network when it comes to monitoring their brands. If you have a robust network, especially people in your industry who observe the same keywords as you, then you will receive important updates without even asking for them.
Benchmarking Benchmarking is the process of comparing the business processes and performance metrics including cost, cycle time, productivity, or quality to another that is widely considered to be an industry standard benchmark or best practice. Essentially, benchmarking provides a snapshot of the performance of your business and helps you understand where you are in relation to a particular standard. The result is often a business case and "Burning Platform" for making changes to make improvements. Also referred to as "best practice benchmarking" or "process benchmarking", it is a process used in management and particularly strategic management, in which organizations evaluate various aspects of their processes in relation to best practice companies processes, usually within a peer group deﬁned for the purposes of comparison. This then allows organizations to develop plans on how to make improvements or adapt speciﬁc best practices, usually with the aim of increasing some aspect of performance. Benchmarking may be a one-off event, but is often treated as a continuous process in http://en.wikipedia.org/wiki/Benchmarking which organizations continually seek to improve their practices. (5) Dave chaffey benchmarking your digital marketing - linked in (5) How Social Media is Redeﬁning Benchmarking Q&A: How can we benchmark engagement with our site? - Smart Insights Digital Marketing Advice
SERVAS APPROACHSERVAS is an easy to apply tool usingthese six critical benchmarks for digitalsuccess. By probing and asking relatedquestions for each benchmark, marketerswill gain insights on the potentialeffectiveness of their marketing efforts toachieve desired results. Here are the sixbenchmarks:Sustainable goalEngageRelationshipValueActionSynergy 6 Benchmarks for Evaluating a Sustainable Digital Marketing Stra
Benchmarking website commercial Content types Main function insitutional Offer Website Presentation richness Interactive tools Ecommerce Customer service Service Product customization Mood Strategic leverages
Benchmarking website Where Contest Applications Viral Specials Social network How Content dissemination Events Interaction Social Internal community Mood Other tools Blog ….. Content types
Benchmarking website Goal Applications Mobile Mobile site Contents Contents
Homework lesson 21. Identify “competitors” of you company2. Benchmark their online presence basing upon the given schema3. Output: a power point presentation or similar