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Most startups, and many big businesses, still don’t have a clue on how to use socialmedia productively for marketing their business. Social Marketology ,” outlined the best set of steps I have seen so far for this current world: Focus on desired outcomes first. Ric Dragon, an expert in online marketing, in his classic book.
New generations of customers respond better to the “ participative ” approach, where they get to provide input via socialmedia and the Internet. Some call it a move from always “ hunting ” for new customers in the wild, to “gardening” or nurturing loyalty and value from the ones you already have.
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 I talk to many of you in my role as business advisor, I still often hear the concern for maximum return to the business and stakeholders, more than a passion for sustainably enriching the lives of your customers and team. This applies to your own team, as well as customers. Make every customer experience memorable.
Shein has shown the world how combining socialmedia marketing, data analytics, and China’s well-oiled supply chain has created a $100 billion fast fashion behemoth. That number is dwarfed by Shein, which gained over 170 million downloads worldwide in 2021 and surpassed Amazon as the top shopping app in the U.S.
Live Shopping is an integral part of the “social commerce” phenomenon – a general term for ecommerce experiences within which customers don’t even have to leave socialmedia platforms to buy items – but other tech companies like Meta, as well as TikTok, have struggled with it in the US and Europe so far.
Unfortunately, in my role as business advisor , I don’t see the same response to more common weak signals , like the move to phone texting instead of voice, or politics invading socialmedia. You may be getting killed today by customer expectations you never worried about just a few years ago.
I’m often surprised when you as an aspiring entrepreneur, looking for investors, tell me your solution is so innovative that you don’t have to worry about differentiating it from competitors, and customers will flock to it without a real marketing campaign. Focus your marketing on real customer value. Perception is better than reality.
If customers don’t know you exist, you can’t solve their problem, they won’t buy. Getting customer attention often takes more innovation today than solving the tough technical problems. Talk to real live customers in addition to marketers. Avoid the use of jargon, big claims, and special promotions.
In these days of rapid change, the pandemic, and worldwide competition, you need to make sure your entire team is customer-focused, innovative, and always looking around the corner for the next big thing. Find folks who are customer-centric and sensitive to competition. Marty Zwilling First published on Inc.com on 03/26/2021.
For example, a few years ago Wells Fargo seriously damaged its brand trying to grow the business by creating accounts without proper customer consent. This resulted in lawsuits and fines, angered many new customers, and the Wells Fargo brand is still recovering. Never argue with customers, public or private.
For example, I’m not sure the world needs one more socialmedia niche site, or another dating site, or yet another flavored drink alternative. Major innovation, with major payback, requires real change, addresses a major pain point, and hits a large customer segment who can pay. Communicate and market your solution to the max.
I have to point out that the rest of the world looks for you online before visiting your business, finds talk about you on Yelp and socialmedia sites, and what they see can make or break your business. Every customer or outside concern should be taken seriously as an opportunity to improve. Be selective in how you communicate.
Significant differences will confuse your customers, and open the door to imitators and scam artists. Socialmedia accounts. Immediately go to relevant socialmedia sites and grab the same name, even if you never plan to use the accounts. This name (www. Trade secrets with employment agreement.
For example, if you have ever watched the Shark Tank show on TV, they always ask about the cost of customer acquisition. It still amazes me that some entrepreneurs seem totally at a loss on this question, or customer retention rate, or even margin expectations. Marty Zwilling First published on Inc.com on 02/16/2021.
Most importantly, you have to deal with customers, and understand their wants and needs. It also requires effective communication, and being a role model for the team, investors, and customers. Marty Zwilling First published on Inc.com on 08/10/2021. Be willing to make commitments and hard decisions.
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. Marty Zwilling First published on Inc.com on 05/20/2021.
Today, with the Internet and socialmedia, if you aren’t visible in a positive way to everyone, including customers, your leadership efforts will be lost. You need to be visible in marketing efforts, viral videos, and interactions with key customer segments. Marty Zwilling First published on Inc.com on 08/19/2021.
A few years ago, Safeway and other big retailers struggled with the growing problem of plastic bag cost and pollution, before realizing they could actually sell reusable cloth bags to customers, as a win to all. I urge you to take full advantage of business advisors, expertise within your team, and direct communication with customers.
Customers are looking for a differentiator today. If you haven’t changed for several years the way you do common processes, like customer satisfaction surveys, lead generation, and marketing, it’s time to look at the new remote apps and socialmedia platforms for more effective and relevant alternatives.
The rate of new entrepreneurs increased between 2013 and 2021, from 280 to 360 out of 100,000 of the adult population. Building a minimum viable product, with customer validation. Establishing your brand with interactive socialmedia. The cost of socialmedia done well is low.
The new era of highly connected and interactive technology is changing not only how business employees interact with customers, but also how they interact with each other, and with their company. I am happy to see reports that young companies are leading the way in these trends, on both the customer and the employee side. In the U.S.,
Even before the recent pandemic, when more people began working remotely , I noticed the dynamics changing in many workplaces, both between employee interaction with peers, and interactions with customers. Customers will be impacted and less likely to have a memorable experience. Measure results in terms of customer satisfaction.
It’s more of a mockery,” said Isa Watson , founder and CEO of socialmedia app Squad. Glossier’s management has faced well-deserved scrutiny for failing to support members of its retail staff, leaving them to endure racist treatment from customers. Please stop using the word Girlboss thank you. It’s not a compliment.
Unfortunately the comments you don’t hear from customers, business partners, and peer leaders are the ones that do you the most damage. Don’t assume that team members and customers have the same familiarity with technical abbreviations that you do. Marty Zwilling First published on Inc.com on 05/31/2021.
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. Marty Zwilling First published on Inc.com on 12/26/2021.
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