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Yet, these days, I am seeing overwhelming evidence that customer buying decisions, especially with consumers, are often based on emotional and psychological factors , including passions from others, your experience, and social relationships. Other startups use technology to provide personalized products to all customers.
As a long-time business executive and adviser to entrepreneurs, I see a definitive shift away from customer trust in traditional business messages, and the executives who deliver them. I summarize the key elements of the transformation as follows: Customers are seeking control in a run-away world.
For decades, efforts to satisfy customers have been built around demographics – capitalizing on race, ethnicity, gender, income, and other attributes. Today, in this age of pervasive socialmedia and two-way communication, the focus needs to get beyond demographics into personalities.
When customers are left waiting for updates, responses, or resolutions, their trust in your business erodes. In the fast-paced startup environment, where every customer counts, delays can quickly spiral into lost opportunities and tarnished reputations. Teams waste time manually sharing information instead of focusing on customers.
Traditional marketing says you have to “push” your message out to customers, over and over again, to get you remembered. A more effective approach in today’s Internet and interactive culture is to use “pull” technology to bring customers and clients to your story. Refresh it often. Skip the Flash videos. Marty Zwilling.
Startups must tackle challenges from scarce resources to changing customer needs proactively. This helps prevent excess inventory and shortages, boosting operational effectiveness and customer happiness. Startups must perform thorough market research to identify their ideal customers and discover new market niches.
Many entrepreneurs think that adapting to the new technologies, like smart phones and Internet commerce, are the key to attracting new customers. In fact, businesses need to adapt even more completely to the changes in the buying and social behavior of consumers. We all have a natural inclination to emulate those we like and admire.
By avoiding common mistakes, startups can build a great foundation for growth and customer engagement. Having inconsistent logos, mismatched color schemes, and vague messaging is confusing to potential customers and can erode trust. When they do this this they are potentially missing out on organic traffic.
It started with an email survey on your last stay at their hotel, but now includes requests for online product reviews, to socialmedia input on the design of future products. They do it because engaged customers become loyal advocates and buyers. It’s a dynamic customer environment out there. Innovate; don’t perfect.
Every company and startups needs marketing experts, who are skilled and knowledgeable in the development of marketing programs, content creation, lead generation, and the utilization of socialmedia. This world changes rapidly, and needs a professional with experience in digital and conventional media to keep up.
Every new business I know dreams of building momentum in their business, where growth continues to increase, customers become your best advocates, and employee motivation is high. Unfortunately, with limited resources, this isn’t possible, and it frustrates customers and the team. Focus first on finding more of the right customers.
I like the summary of the competitive reality in a new book, “ Rethinking Competitive Advantage: New Rules for the Digital Age ,” by Ram Charan, who relates a wealth of current experience from global clients: Customers expect a personalized experience. Features, availability, and brand are just the price of entry.
You may feel good when that first burst of customers arrives, but don’t assume that “ word of mouth ” and those early adopters will grow your business to match your dreams of success. In these days of global competition via multiple channels, you need continuous marketing to find more customers. They won’t find you.
Offering one more socialmedia site (over 200 already exist on Wikipedia) probably won’t work. I suggest looking for painful problems to solve, rather than “easier to use” or “nice to have” solutions, for customers with money. Collaborate with customers to tune your solution.
Building a minimum viable product, with customer validation. Establishing your brand with interactive socialmedia. Early customer feedback will position your solution, and help you make pivots before critical time and money are lost. The cost of socialmedia done well is low.
For decades, efforts to satisfy customers have been built around demographics – capitalizing on race, ethnicity, gender, income, and other attributes. Today, in this age of pervasive socialmedia and two-way communication, the focus needs to get beyond demographics into personalities.
Others schedule exhaustive training sessions for everyone on the team, including showcase customers, to make sure that everyone paints a consistent picture. Due diligence always involves on-site visits, informal discussions with any or all members of the team, vendors, and good customers as well as bad. Traction in the marketplace.
You can have the best technology, but if customers don’t know you exist, or they don’t know how your technology solves a real problem for them, your startup will fail. How many customers will have any idea what this means to them? You need to clearly convey what makes your startup the only choice for your customers.
They couldn’t possibly understand the new socialmedia culture, new technologies, or have the determination to beat their younger counterparts in the market. Manage customer service. Marketing and sales to Gen-Y customers. Yet credible reports on current trends tell us just the opposite.
Finding a customer for your product in the Department of Defense is hard: Who should you talk to? Looking for DoD customers How do you know if they have money to spend on your product? They have published links to DoD organizations here , even listing DoD socialmedia accounts. How do you get their attention?
We’ve seen this effect in socialmedia when it was people who were manipulating beliefs. I’ve lived through the revolutions in telecom, life sciences, socialmedia, etc., and watched as new industries, markets and customers created literally overnight. But that’s not all.
Many passionate entrepreneurs fight to add more features into their new products and services, assuming that more function will make the solution more appealing to more customers. Focus is the art of limiting your scope to the key function that really matters for the majority of customers.
Some pundits argue that the E-Myth principle is now outdated, due to the instant access to information via the Internet, pervasive networking via socialmedia, and courses on entrepreneurship at all levels of education. In the interim, I recommend you use advisors, socialmedia, and the Internet to find your alter-ego.
With information overload due to the Internet, you need to find your customers, rather than assume they will find you. That first burst of customers via word-of-mouth or a viral video won’t sustain your growth. Start with a range of platforms, including socialmedia, advertising, and a great website.
It takes a long time and lots of effort to overcome existing momentum, and both investors and customers want to see results on a small scale in their lifetime, before they line up to join the movement. Look for sizable customer populations unattractive to incumbents. Pitch your innovation against today’s market. Marty Zwilling.
Link Image – CC0 License SocialMedia The first thing that we’re going to say is that you need to be keeping up to date with socialmedia. Socialmedia is your best friend when it comes to marketing your business online as it’s one of the first impressions that people get of your business.
Every company and startups needs marketing experts, who are skilled and knowledgeable in the development of marketing programs, content creation, lead generation, and the utilization of socialmedia. This world changes rapidly, and needs a professional with experience in digital and conventional media to keep up.
Delegating tasks that don’t require the entrepreneur’s direct expertise, such as administrative duties or customer support, frees up time for focusing on core activities like business development and strategic planning. These tools sync across multiple devices, providing constant access to schedules whether on-site or remote.
Others schedule exhaustive training sessions for everyone on the team, including showcase customers, to make sure that everyone paints a consistent picture. Due diligence always involves on-site visits, informal discussions with any or all members of the team, vendors, and good customers as well as bad. Traction in the marketplace.
Build a connection to your product, and leverage the momentum into more social contracts and bigger congregations. Use socialmedia to generate emotion. Socialmedia is central to the creation of a social contract because it serves as an emotional beacon, and helps to fuel the invention of illogical leaps.
Yet in this age when customers have a thousand alternatives, and are overwhelmed by a multitude of messages, sales efforts can make or break a business. In fact, I believe modern entrepreneurs need to be super sales people, in the most positive sense, to their team as well as customers. You and the customer have to be on the same side.
With socialmedia and smart phone apps, real product information spreads at astounding speeds. Today’s customers are much more proactive in going online for the latest information, rather than simply reacting to the “push” messages that businesses traditionally use to drive commerce. A strategy of speedy execution is required.
It’s not just about moving goods but also about optimizing routes and providing exceptional customer service. Leveraging digital marketing tools, including socialmedia and industry networks, enhances visibility and helps attract new clients.
Today more than ever, the evidence is clear that business people need to find and communicate a purpose that goes beyond making a profit, in order to ensure customer engagement, as well as your own, and drive results in the marketplace. As you grow, so will your team and customers. Driven to reduce personal hardship and suffering.
Make rational and positive contributions on socialmedia. Use socialmedia to show a positive presence, communicate with people in similar positions, and build relationships with people who can help you. Recognize the need to appeal to a diverse audience. Increase the scope and credibility of your connections.
With real-time online reviews and feedback via the Internet, and instant relationships via socialmedia, a voice from the top that is inconsistent with what is heard from the firing line defines a dysfunctional and noncompetitive company for today’s customer. Thus team makeup is the critical success factor.
Yet the value of real relationships, as with consumer customers, has become critical to your business services growth and success. In my experience, the good news is that everyone is becoming more and more comfortable with relationships via the new media and technology. Maximize online referrals and positive service reviews.
A business plan is the outward facing definition of the business you hope to drive with your hardware solution, with a hardware overview in the intro to highlight customer value and competitiveness. Use non-fuzzy terms to quantify customer value. Provide specifics on the customer business model. Budget time and dollars for each.
When was the last time you reviewed everything going on at your business including your website content, sales funnels, customer service processes, delivery materials, socialmedia, online analytics, and more? Take the time to review all of the messaging, products and services you provide potential and current customers.
by Donna Cutting, who is a globally-recognized guru on employee culture and optimizing customer service. In my experience, a healthy team is a prerequisite for a thriving business, innovation to meet market needs, and high customer loyalty. The recent pandemic and remote team members have made the focus on social even more critical.
Customers today extrapolate their relationships not only from personal contact, but from every aspect of their interface with your company, including web site and socialmedia interactions, access to peer reviews, as well as the actual services experience. Relationships are a function of customer culture.
With today’s worldwide Internet and socialmedia, your brand impact is not set by what you say, but by numbers of followers, influencers, and satisfied customers. Just be aware that building your customer base first requires deep pockets, or many investors.
I recommend that every entrepreneur and small business investigate and implement as many as possible of his seven new business force multipliers that I will paraphrase here: Information sharing through socialmedia networks. Nurture dedicated customer advocates and fans.
A broad attack will likely confuse potential customers, and will spread your resources too thin to satisfy any. I’m sure you have all heard of a highly promising startup that failed due to lack of inventory or non-existent customer support. Focus on one key objective rather than a broad global win.
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