The raving
fans of an elite set of businesses simply can’t get enough of the brands they
love.
These fans
actually set up websites and discussion forums praising and promoting the brand
they love. Roberts, in his book (Lovemarks Effect), explains the relationship
between Lovemarks and other selling concepts through a simple schema based on
respect and love.
The full
schema is as follows:
·
Fads attract love, but without respect
this love is just a passing infatuation.
·
Brands attract respect, even lasting
respect, but without love.
·
Lovemarks, explains Roberts, command both
respect and love. This is achieved through the trinity of
o
mystery,
o
sensuality,
and
o
intimacy.
Fig 1 – Brands People Love To Be
Associated With
“’Disproportionately High Profit
Margins’ – I‘ll have some of that!”
These
businesses (see Figure 1) have disproportionately high brand loyalty and
disproportionately high customer service ratings and consistently have
disproportionately high profit margins. These are linked. According to the Peer
Insight Study (2005) businesses in the Forbes 100 with a key strategy of
customer service saw average profit levels ten times that of the rest!!! I rest
my case!
Opinion – you get the customers you
deserve
Surely it is
easier to get the basics right in the first place. The customer experience
determines their feelings towards you. You get the customers you deserve except
that now they can fight back.
Opinion – keep your friends close
My mother
always said “keep your friends close but keep your enemies closer”. To rewrite
this for today, “Keep your raving fan customers close but keep your
dissatisfied customers closer still!”
So, what can you do...?
·
Find
out what people are saying about you; Google Search, Twitter, Technorati, Diggit,
Facebook (to name a few) enable you to track the ‘word on the street’ both about
you and about your competitors.
·
Create
a more compelling offer that focuses on the value that you add.
·
Respect
your customer. After all they pay the bills.
·
Get
into the discussion. Be honest and authentic (even if I hate the word!). Be
there to discuss, share and understand the customer’s point of view.
Surely, It’s the “same as it ever was”
(Talking Heads)
In some
senses it is the same as it ever was. You must listen to your customer, be
different from the rest etc., etc.
So, what has changed? Why is it any
different right now?
The new
future is one of customer involvement and participation. Forming groups has
never been easier: unpaid volunteers build an encyclopaedia (wikipedia.org),
mistreated customers gather together to take their revenge on an airline (www.flyersrights.com) or a bank (FaceBook
Campaign Forces HSBC U-turn). One man with a laptop can raise an entire
army to retrieve a stolen phone (Ivanna’s
Phone). You cannot deny the existence of a new world of easy collaboration.
You can put your head in the sand but it won’t go away.
And what happens if you don’t do something
·
Customers
will always talk. You can’t stop them. But now they are able to do it more than
ever.
·
You
will be seen to be a dinosaur business – out of touch, old world and
potentially dead in the water.
·
Progressively
your web-savvy competitors will have their ear closer to the ground, will be
closer to the customers and, as a consequence, will be giving the customers
exactly what they want.
Five suggestions for your business
1.
Corporate blog – you can dissipate antagonistic
customers by giving them the platform to share their angst.
2.
Insider Twitter account – quite fashionable at the moment as
long as they are genuine and not an attempt to fix the result.
3.
Track what is being said about you. Start the conversation with the
complainants.
4.
Sort the social media – by definition you cannot control the
social media but you can encourage the conversation explicitly (set up a Facebook
page) or implicitly use (or pay!) ambassadors to spread the word.
5.
Do not try to fix the result by
interfering – Sony
will wish they had never tried to fix the Rage Against The Machine vs X-Factor
scenario – a so-called Facebook campaign under-written by Sony! Their
intentions were dishonest and they were caught. They deserved the backlash.
In conclusion,
the ‘customers talk...’ and ‘getting close to the customers’ arguments are usually presented as ‘nice to haves’ or the rants of some relatively insignificant hysterically evangelistic social media fan. The reality is that while the future is a little ambiguous, the ‘customers talks...’ agenda will become one of the key axes for business survival in the next few years. The ability to ‘get it’, to tune-in and respond to what the customer thinks, feels and wants will influence the business landscape.
the ‘customers talk...’ and ‘getting close to the customers’ arguments are usually presented as ‘nice to haves’ or the rants of some relatively insignificant hysterically evangelistic social media fan. The reality is that while the future is a little ambiguous, the ‘customers talks...’ agenda will become one of the key axes for business survival in the next few years. The ability to ‘get it’, to tune-in and respond to what the customer thinks, feels and wants will influence the business landscape.
Telling the
customer what they need is for the dinosaurs. Interruption Marketing is Dead.
Start talking - and fast!
Start talking - and fast!