It’s been more than half a century since Philip Kotler first published his principles of marketing, which has defined the practice of millions of professionals worldwide ever since. It’s no stretch to say that before Kotler, there was no marketing profession.
What made Kotler different than what came before is that he took insights from other fields, such as economics, social science and analytics and applied them to the marketing arena. Although it seems basic now, it was groundbreaking then.
Social media has paved the way for companies to get closer to their customers. And while this has proven to be advantageous, it can also be disastrous if you do not know how to properly deal with angry customers who vent their ire, frustration and disappointment in social media.
Word of mouth still is the best marketing method, and whereas before any bad feedback or complaint from your customers may have gone no further than a conversation between friends or through snail mail, nowadays every complaint, valid or not, is available for the world to see.
People say that business is all about relationships, but the truth is that business is really all about communication. Communication is key to virtually every aspect of business—from acquiring and retaining customers to improving employee engagement and performance. At the most fundamental level, business can’t happen without communication. This is even more true in the era of globalisation. As geographic borders become porous and the world flattens, effective communication with customers, employees, partners, suppliers, and other stakeholders across the globe becomes essential to successfully running a company.
How many pages have you liked/followed on social media? Personally, over 100. Does that mean I interact with all 100 of these pages on a daily basis? Not even close. In fact, there’s only a handful I bother paying attention to… or engaging with.
Why?
Well, because they have something special — something that keeps me interested, commenting & clicking Like/Follow. For lack of a better word, I’d say they have charisma.
Realising that you can’t do everything internally, and that it’s better to hire outside resources, is a hard truth to take in.
If you need to feel better about your decision to outsource your efforts, here are some things that will reaffirm your choice to let some internal control go:
1. Consider the opportunity costs.
There’s an opportunity cost to everything. Too often, we forget to value our time and attention.
Culture is crucial when it comes to understanding the needs and behaviours of an individual. Throughout his existence, an individual will be influenced by his family, his friends, his cultural environment or society that will “teach” him values, preferences as well as common behaviours to their own culture.
For a brand, it is important to understand and take into account the cultural factors inherent to each market or to each situation in order to adapt its product and its marketing strategy. As these will play a role in the perception, habits, behaviour or expectations of consumers.
Make a list of the 5 leaders you most admire. They can be from business, social media, politics, technology, the sciences, any field. Now ask yourself why you admire them. The chances are high that your admiration is based on more than their accomplishments, impressive as those may be. I’ll bet that everyone on your list reaches you on an emotional level.
The ability to reach people in a way that transcends the intellectual and rational is the mark of a great leader. They all have it. They inspire us. It’s a simple as that. And when we’re inspired we tap into our best selves and deliver amazing work.
There is a holy grail in the workplace, but like the one in the popular book and movie “The Di Vinci Code,” it’s not exactly what you’d expect. In any company, the products and the location are important.
So, too, are the branding strategies, packaging and pricing — but in the end, it’s the employees who make the difference. That’s why it’s so important that you motivate them to move mountains.
There are lots of examples of great companies and their highly motivated employees: Apple, Disney, Starbucks, Southwest Airlines, Coca Cola, Zappos and Wynn Resorts are a few that come to mind.
Can you get better at spotting the most promising opportunities? How does anyone know it when they see it?
If you’re like most people, throughout your life a few great opportunities will land on your doorstep. And again, if you’re like most people, you’ll ignore these rare opportunities because you won’t recognise them as great chances for success.
Don’t feel bad; even people in the opportunity recognition business – including prominent venture capitalists – miss out on great opportunities. Everybody misses a few, no one gets them all.
According to a recent study, retailers are losing more than 45% of potential buyers due to inefficiencies in their website and operations.
Here are 10 points to consider when evaluating your current or future eCommerce website:
1. Pricing
The Internet allows shoppers to quickly compare prices. If you are in a competitive market, you need to make sure there is a good reason for your customer to visit and then stay on your website.
Sometimes, bad publicity is inevitable. Even when you and your organisation behave responsibly, you always run the small risk of an unexpected PR disaster. In the information age, bad publicity can reach the masses before you can even mount a defense.
The only thing worse than having your image tarnished in the public light after you’ve done everything within your power to protect yourself is to find out you’re the one who caused the disaster. For every rogue employee saying something stupid to the media, there’s a poor senior-level decision being made.
What to do when your business gets bad publicity
Respond quickly, honestly and decisively. Don’t get defensive. If you are in the wrong, it’s vital to own up and apologise. Never say “no comment” – it sends the message that you are in the wrong but feel no remorse – and the press may keep digging for dirt. Face up to the situation and you can begin to restore the reputation of your business.
Recently, researchers asked a group of high school students how they most often use email. Their responses? “To communicate with old people.”
And therein lies one of the most daunting challenges facing today’s companies – the need to reinvent their entire business model rather than just a new product or service.
After all, there’s no point in coming out with a newer and better product/service when people no longer use it. Anyone operating an email-based business might as well get in line right behind the post office because extinction is already knocking on the door, and it won’t take “go away” for an answer.