Every day, an increasing number of connected consumers are taking to social networks to ask for help or express sentiment related to business or product related experiences; some do so to seek resolution from their peers, others broadcast questions or comments as a form of catharsis; and a smaller group of consumers actually hope to receive a response directly from the company. The reality is that social media is the new normal. A myriad of social networks, whether you use them or not, are now part of the day-to-day digital lifestyle with Facebook, Twitter, Yelp, Youtube among others becoming the places where your customers connect, communicate, and engage around experiences. They take to these social networks and more because they can. The question is, what are you going to do about it?
service
Be careful what you ask for, you might just measure it
New media marketing is creating an undercurrent that is shifting the very foundation of business. Without a full understanding of what’s possible, a clear view to the future or an idea of the strength or extent of the market undertow, executives cautiously embrace emerging social and mobile channels based on guidance of internal champions and external pressure from competitors and customers alike. But, leaders can only lead when their vision is focused and direction is defined. The ability to execute becomes paramount and the gaps that exist between goals and capabilities must be identified and solved quickly to stay the course.
How should you treat your best customers?
Here’s what most businesses do with their best customers: They take the money.
The biggest fan of that Broadway show, the one who comes a lot and sits up front? She’s paying three times what the person just three rows back paid.
That loyal Verizon customer, the one who hasn’t traded in his phone and has a contract for six years running? He’s generating far more profit than the guy who switches every time a contract expires and a better offer comes along.
Or consider the loyal customer of a local business. The business chooses to offer new customers a coupon for half off—but makes him pay full price…
If you define “best customer” as the customer who pays you the most, then I guess it’s not surprising that the reflex instinct is to charge them more. After all, they’re happy to pay.
But what if you define “best customer” as the person who brings you new customers through frequent referrals, and who sticks with you through thick and thin? That customer, I think, is worth far more than what she might pay you in any one transaction. In fact, if you think of that customer as your best marketer instead, it might change everything.
Seth Godin