Seven Reasons Businesses Lose Customers

A May 2014 online survey conducted by Harris Poll points out seven reasons businesses lose customers.

Poor customer service is costing American consumers 30.8 work hours which translate into $108 billions a year in missed work time and productivity

Poor customer service costs a lot more to businesses and brands when you take into account that 35% cancelled their service or stopped using the brand or business and factor in a customer’s long term value (LTV), lost referrals or worse, since 13% have taken to social media

What frustrated them the most?

44% waiting for a service rep
43% being put on hold
38% feeling that service representatives didn’t know how to fix problems.
35% service rep did not understand their problems
32% having to call back because the problem wasn’t fixed
21% billing issues
12% trying to schedule an appointment

“These service frustrations are significantly impacting service businesses today because consumers are becoming more and more likely to demand not just a great price but a great service experience,” Timms said. “Companies that offer the best experience in all parts of the service process will be the ones that retain their customers, grow, and succeed.”

October 15, 2014

4 Reasons Industrial Marketers Should Adopt Social Media

Even if studies have shown that, so far, industrial professionals have been a relatively passive social media audience, their presence and social media usage is far from negligible.

In a recent study, “2014 Social Media Use in the Industrial Sector,” IHS GlobalSpec found that 44% of technical professionals spend more than an hour per week on social media for work-related activities.

The study indicates that technical professionals maintain social media profiles on LinkedIn (74%), Facebook (61%) and Twitter (17%).

In addition, 47% of them spend time on LinkedIn reading product or industry news while 26% research suppliers.

69% of technical professionals with a Facebook profile follow businesses or groups within their industry and 38% research or read work-related content.

These statistics are far from negligible and show that industrial marketers need to take a serious look and consider integrating social media in their marketing mix.

The return may not be immediate and as high as their other more traditional marketing initiative but the potential is there for those who get early on on the bandwagon.

At a time when traditional marketing vectors are crowded and customers/prospects are bombarded with messages and ads, social media is still a relatively virgin territory in industrial markets
Social media allows them to find, identify, reach influencers like industry analysts, consultants and other industry thought-leaders
Through social media they can connect and build relationships with influencers
Social media is the medium of choice of the new generations, reaching them is key to future growth

November 7, 2013

Mothers With Children Under 5 Most Active on Social Media

A new analysis from Experian Marketing Services found that moms with children under the age of 5, are often more active on social media, more likely to shop using mobile devices and more open to engage with brands across digital touch-points than consumers at large.

Moms with young kids represent a highly active and digitally sophisticated segment of consumers who are eager to connect with brands and share their experiences through multiple platforms Continue reading “Mothers With Children Under 5 Most Active on Social Media”

June 19, 2013June 19, 2013

Physician Reviews: Patient Experience Trumps Skills

How important are physician reviews

In healthcare, branding sometimes is reduced to its most basic component and it’s not what most physicians would thing about first.

Unless a patient is victim of malpractice, it’s very difficult for them to evaluate a physician medical skills.

On the other hand, patients have expectations in terms of experience and oftentimes, that experience will drive their perception of the physician or the healthcare facility.

According to a recent study of physician review websites released in April 2013 by Vanguard Communications, poor customer service and bedside manners are the biggest complaints on online medical review sites, trumping by far poor medical skills

43.1 percent of the negative reviews complained about doctor indifference and bedside manner
35.3 percent were about poor customer service including staff rudeness, erroneous billing, unprofessional dress and facilities not being hygienic.
21.5 percent highlighted a lack of physician skills

To stand out of the crowd, just like any business, healthcare professionals need to start thinking about their brand holistically, in term of patient experience from beginning to end.

What does that mean? That means evaluating and improving each point of contact with the patient, from the website, social media, printed material, telephone demeanor, front office staff, assistants, nurses, bedside manners, parking lot, waiting room … to improve patient and caregivers’ experience

Think in term of great experience and patients and caregivers will flock to review sites and sing your praise.

What’s in it for you? Increasingly patients are going online for healthcare information and to choose healthcare professionals based on peer reviews and referrals.

In addition, positive reviews improve your website organic search rankings which in turn, means better visibility and more patients and referrals.

There is no downside

June 4, 2013June 4, 2013

Social Media For Business Mainly a Brand Builder

Social media for business study

Social media plays a significant role in small and medium-sized businesses’ (SMBs) marketing efforts, providing both free and paid exposure to a wide-ranging—and often receptive—audience.

According to a January 2013 survey from online magazine Social Media Examiner, Facebook continues to be the most important social network for most business-to-consumer (B2C) marketers worldwide, given its enormous user base. However, for business-to-business (B2B) marketers, there is a healthy competition among other

platforms. Among these marketers, LinkedIn tied with Facebook as the most important social network, while blogging followed 10 percentage points behind.

Interestingly, while YouTube was only the most important social platform for 4% of SMBs total, it is where the greatest percentage of businesses planned to make future investments. Nearly seven out of 10 marketers said they planned to increase their use of YouTube this year.

The greatest benefits of social media:

89% increased exposure
75% increased traffic
43% increased sales.

This points to social’s role as a brand builder, first and foremost.

And even as social media may seem like old hat to many marketers by now, quite a few are relatively new to the platforms. About one-quarter of marketers said they had been working with social media for a year or less. And another 30% were 1 to 2 years into their social media marketing tenure. But SMBs have quickly caught on to how important social is as a marketing tool: 79% said they had already incorporated social media into their traditional marketing activities.

June 4, 2013June 4, 2013

More Women Have Accounts on Pinterest and Instagram

Women are more likely to have accounts on Pinterest, Instagram, Twitter

Women continue to lead over men on most social networks, according to a March 2013 survey of over 2,500 adult US internet users from internet advertising network Burst Media. Facebook remained the leading social network by a wide margin, and females were 6 percentage points more likely than male internet users to have an account on the site.

Google+, a social network which had been somewhat marginalized after a lackluster start, is proving itself in US user figures. The site had the second-highest number of account holders among both men and women, leading Twitter by approximately 10 percentage points for both genders. About one-quarter of male and female web users were on the site.

On Pinterest, the skew toward women has been well documented and remains firmly entrenched. More than one out of five female respondents had an account on the network, compared with 5% of men. About 6% of both men and women were on Instagram, with slightly more women on the site. On Twitter, penetration rates were also very close, at 17% of women vs. 15.5% of men.

March 26, 2013

Best Social Media Marketing Tactics

Marketers are zeroing in on the best social media marketing tactics to accomplish their goals, what their biggest challenges are and how to most effectively track their performance.

According to a February 2013 survey of marketing professionals around the world by Ascend2, most respondents, both in business-to-business (B2B) and business-to-consumer (B2C) companies considered customer engagement to be the primary purpose of their social media marketing respectively 43% and 55%). Website traffic also ranked second for both types of marketing professionals.

leading objectives of social media marketing professionals in 2013

Lead generation was more important for B2Bs than B2Cs. Twenty-nine percent of B2Bs used social to generate better quality leads, and 27% sought to get more leads with the tactic.

Search engine rankings remain an important part of businesses’ digital strategy, and social media plays a role here too. Approximately 25% of both B2Bs and B2Cs used social media outreach to improve search rank.

Increasing sales revenue was a goal for over one-third of marketers for both B2Bs and B2Cs (33% and 39%).

40% of respondents cited creating articles and blog post content respondents cited creating articles and blog post content as the best way to achieve their social marketing goals. These tactics fall directly in line with driving the goal of customer engagement. Other forms of content creation also ranked high, including research and whitepapers for B2Bs, and video and audio for both types of companies.

B2Cs found advertising on social networks to be a much more effective strategy than B2Bs did.

The top three most effective social marketing tactics were also the most difficult tactics to execute. These findings mirror growing research that while content marketing is one of the latest and greatest marketing tactics, it is also difficult and time consuming to produce.

As to what obstacles stood in the way of marketers achieving their social goals, the greatest percentage of respondents (42%) cited staff limitations—not having enough personnel to create the content or drive the continuous engagement that powers social.

Nearly two out five respondents, the next greatest percentage, said difficulty measuring the return on investment (ROI) of social channels was a major obstacle in their social efforts.

When marketers do set out to measure social performance, the greatest percentage—over 60% on both the B2B and B2C sides—said they looked at website traffic. This metric may be somewhat basic, but it is also direct and easy to measure. The same goes for tracking search engine rankings, which was the No. 2 response. These responses show that even as marketing tactics have become more sophisticated, marketers still turn to tried and true methods to quantify ROI.