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Impact of Social Media on Selling

Page history last edited by PBworks 16 years, 1 month ago

Where's my customer?  The Impact of Social Media on Selling

Webinar: 2/28/08 

 

James Hilliard, Moderator, TechRepublic

 

Jay Deragon

A brand is no longer what a retailer tells a customer, but what individuals tell brands.

 

Facebook as launching pad for new businesses

50 groups on Facebook, all started about "Conversations on..."

 

Case study:  conversation on Facebook about Comcast

 

Doc Searls

 

Only need two or three people to start a conversation

Doc recommends starting conversations on blogs because Google can find them, but can't find conversations on Facebook

 

Presentations slide:

Transparency

Increased expectations

BAD experiences shared

Influence of Collective Customers

 

Mark Twain:  Honest if the best policy, because you don't have to remember anything

 

Jay: 

 

The mindset of the corporation fears this

Fortune 500 Bank case study

 

Bank did not want to create a medium for customers can talk about them, because feared results

 

Moderator:

 

Newer companies get the social web

Older companies do not

Does the mean that it will take sometime before the social web begins to change things?

 

Business 3.0:  Profiles

800 business have business profiles on Facebook?

It is a mindset, not FEARFUL of getting feedback

Business owners asking:  Tell us what we can do better?

Actually move forward on those kinds of conversations

Include the individuals in conversations

 

Small businesses eager to learn from customers

Entreprenuers are eager to grow

When they started out small, the overwhelming passion was to serve the customer

 

Earlier comment by Doc:  Some large corporations have entreprenuerial teams working on new concepts

 

Question is how can you institutionalize systems that take in customer input?

 

Doc on CRM vs VRM systems:

The number of variables on the customer side will begin to resemble the relationships between vendors

Companies are not used to customers having that much power

 

Case study:  Tabblo.com

Want customers to choose us because they like our systems

 

Companies need to begin to get used to the idea that they cannot control customers

 

Be open to feedback that might create revenue opportunities, like

"I want to talk with a LIVE person within 60 seconds, and I am willing to pay for it.

 

Customer's data belongs to the customer not just the company

 

Jay:  Complaining about redundancy, barriers to communicating across networks using a single post

 

How long before that happens?

 

Doc:  In some ways it's 10 to 15 minutes, in other ways, it's 15 years

The future is here, it's just not evenly distributed

 

(Could be said about alternative real estate commissions, too)

 

Big difference between CRM and VRM is that VRM gets rid of guess work.

 

Case study:  Will all be able to control our own health data

 

Also going to be able to post

 

Case study:  Krugle

So many open source building blocks

(Best approach to MHC?)

 

"just a matter of resourcefulness of entreprenuers and hackers to put these things together.

 

Presentation slide:

How to Harness the Power

Ask the Customer

Don't Ask and Not Do

Does the Organization Know How to Relate

Ask your Employees

Let the Customer Work for You

(See Real Estate Cafe's "Tipping Policy"

Add to RECafe coop ad ASAP!)

 

Moderator:  Focusing on Letting the Customer Work for You

Instead of shoving stuff at the customer, let the customer tell you what they want

 

If you want to see how a company is responding to these kind of conversations, check out Comcast Facebook group

 

Change is not going to happen at the change of a switch

 

Doc:  Five fortune 500 companies

GM

Microsoft has been creating Usenet groups since the 1990s

DELL:  See IdeaStore!

Invited customers to tell them what they want them to build

 

Moderator:  What will happens to companies that do NOT embrace the social web?

 

Doc:  Those companies will die.  "Being clueless" did not have a cost, now it does.  The web will become more and more an essential utility.  High speed internet running over cellphones will be a basic utility in the future, like roads, sewers, etc.

 

Presentation slide:

Where will the customer go?

Identify obstacles and remove them!

 

Comcast setting up a group asking customers to tell them how to reduce their cost!

 

Presentation slide:

1.  Our mind

2.  Our methods

3.  Our relations

4.  YOUR market

 

Best kind of customer service is THEIR input!

 

"Never moan.  Do not be a victim.  Either raise hell and change the game or get out of here."

Jack Welch, Former CEO of GE Capital

 

Jay;  600 million people (check stat --worldwide number?) involved in the social web and growing

 

dsearls@cyber.law.harvard.edu

jay.deragon@gmail.com

 

The notion that you OWN th

Ban the use of the word CONSUMER, people are not just consuming anymore, they are PRODUCING!

Treat consumers with far more respect

They will be interacting with us on THEIR terms

That's why the ability to give INPUT is the most important form of customer service!

Must have an OPEN API approach

Look for solutions to be provided from the customer

 

Jay:  If you are already experimenting on the social web, keep trying

 

See speaker bios and links to blog on webinar link above.  Conversation will continue online.

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