There’s a debate going on about the use of social media in a business environment and how that relates to relationship management. Three schools of thought:
1. It is personal and should never be used for business
2. Responsible use is to be encouraged
3. "I don’t get social media and it has nothing of use for business".
The middle approach is the one I support, provided it becomes part of a bigger relationship management strategy. If a customer goes to the trouble of maintaining a Linkedin profile, only a foolhardy sales person ignores it. However, Linkedin alone will not close a deal – we must co-ordinate all our activities to build a strong relationship with each and every client.
Like every aspect of selling we have to tailor our approach to individual clients. If a client regards Facebook as purely personal then the last thing we want to be doing is using it to sell to them.
In summary, social media should become another valuable tool in your relationship management toolbox. Use it where appropriate and make it part of your CRM system.
If you are firmly of the view that social media is a fad, have a look at http://www.youtube.com/watch?v=sIFYPQjYhv8. Before you go - a word of caution. As with all things on the web treat the statistics with with some caution.
Friday, 18 September 2009
Friday, 4 September 2009
Boosting profits through customer retention
Keeping customers happy has always been important - the theory goes that a happy customer keeps on buying. Marketing gurus tell us that there are degrees of happiness with the ultimate being an advocate - someone who raves about your company without any prompting. In practice most customers don't reach that stage, they end up being just plain satisfied.
But satisfied is good, in fact it is fantastic. A satisfied customer will keep buying so long as you communicate with them. They may get tempted to go elsewhere but regular communication will pull them back.
The great thing about communicating with your customers is that it isn't rocket science. All it takes a good procedure that is well executed.
But satisfied is good, in fact it is fantastic. A satisfied customer will keep buying so long as you communicate with them. They may get tempted to go elsewhere but regular communication will pull them back.
The great thing about communicating with your customers is that it isn't rocket science. All it takes a good procedure that is well executed.
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