regus work your way the momentum business series
DESCRIPTION
Local businesses can leverage their local competitive advantage. This presentation provides rationale and resources.TRANSCRIPT
How Raving Fans Can Enhance Your Local Advantage
November 14, 2014
The Momentum Business Series
http://www.slideshare.net/josephruiz/local-advantage-regus
What I Will Cover Today
• What is the local small business advantage?
• How you can leverage the local advantage
• Why listening is so important
• How a culture of learning will help your business grow
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What are the Challenges?
• Online Competition
• Large Chains offering– More choices
– Lower prices
• Awareness - Nobody Knows Your Name
• Limited Resources – Staff, Tools, Expertise
• Who are my customers? Fans?
• Why do my customers buy from me?
• Others?
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What is the Biggest Challenge?
CHANGE!!!
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Large Brands Responding
Kraft Agile Marketing
Amazon Local
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Do you know who your best customers are?
Only 38% of marketers are
capable of separating prospects and existing customers
Razorfish Study
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What kind of experience do customers want?
• Seamless – Omnichannel
• Relevant
• Utility
– Right product or service
• Convenience
– Saves time
– Little friction
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What’s Your Goal?
Is the goal to get people to notice what we make?
OrAre we setting out to make something
people choose to talk about?
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Seth Godin
But How?
Ann Ruckstuhl, SVP & CMO at LiveOps
By extracting interactional data and feedback, small businesses can determine the current level of customer satisfaction, identify unfulfilled needs, and boost revenue gain in the process.
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By Asking and Observing
• Encourage and welcome feedback– Internal and External
• Ask Lots of Curious Questions
• Gain Insight ~ extracted from data
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Here are a few Raving Fan Questions
• Who are the top 10% of your customers?
• Would you like more like these?
• Why do they buy from you?
• Can you articulate their pain points in THEIR words?
• How long do they stay with you?
• What communication channels do they use?
• How do they feel about dealing with your organization?
• Would they recommend you to friends or colleagues?
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David vs. Goliath?
“In six lab and field studies, we explored the effects of having a large, dominant competitor and found that highlighting a large competitor’s size and close proximity can help small brands instead of harming them.”
“Competitive narratives should highlight the battle between small and large competitors, and this narrative must be made salient to consumers at the time of purchase.”
Framing-the-game effect
The Upside to Large Competitors by Neeru Paharia, Anat Keinan and Jill Avery
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Building a Connection
According to Harvard Business Review, customers who received a customer satisfaction survey after doing
business with a company were 50% less likely to
cancel their account.
They were also three times more likely to
purchase another product from that same company.
How Surveys Influence Customers by Paul M. Dholakia & Vicki G. Morwitz
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What Do Consumers Want?
• Proximity (geography)
• Product details that are clear
• Ease of navigation
• Company information
• Consistent experience wherever, whenever
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Raving Fan Ingredients
Raving Fan
Good Customer Service
Excellent Product/Service
Engaged Associates
• Add plenty of feedback
from all stakeholders
• Learn from and
implement feedback
• Stir with insight from data
• Identify and resolve
service/experience gaps
• Remove internal and
external friction make it
easier to do business
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Next Steps and Some Resource Suggestions
November 14, 2014
The Momentum Business Series
Conduct a Customer Experience Audit
• Experience your brand from mobile • Identify gaps• Get Feedback from:
– Staff– Customers– Suppliers
• Map the buying journey• Begin to build a 360° customer view
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Create a Customer Journey Map
• Here is Howhttp://maximizesocialbusiness.com/7-ways-customer-journey-map-can-improve-solomo-experience-9915/
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Find the Right Tools
• Cloud based Customer Service
– Mighty Call http://www.mightycall.com/
– LiveOps http://www.liveops.com/
• CRM software
– Below is a list of options (don’t be mislead by the title) – http://www.forbes.com/sites/quickerbettertech/2013/07/01/11-terrible-crm-
systems-for-your-company/
– Batchbook http://batchbook.com/
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Survey
• Ask for feedback soon after purchase
• Keep them simple and basic like:– Please rate your experience
– Is there anything we could do to improve?
– On a scale of 0-10 would you recommend us to a friend or colleague
• Free Tool - https://www.surveymonkey.com/
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Claim Your Space
• Claiming your local identity is important
• List of Directories http://www.cinchlocal.com/blog/2013-best-local-business-directories-for-seo
– Free Resources (includes major sites but not necessarily all)
– http://www.searchenginejournal.com/how-to-claim-set-up-local-profiles-from-google-to-yelp/64633/
– http://www.businessknowhow.com/internet/claimlisting.htm
– Paid Services• Local Moz https://moz.com/local
• Go Daddy https://www.godaddy.com/products/business-marketing.aspx?isc=gofd2103hi&ci=86225
• Yext http://www.yext.com/pl/google-claim-5/index.html
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Other Resources
• The Moz Local Learning Center - http://moz.com/learn/local
– Online Marketing Strategy
– Local Listings
– Reviews and Ratings
– Website
– Social Media
– Local Search Ranking Factors
• Google Maps http://www.google.com/business/
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Thank You
Joe owns Strategic Marketing Solutions, an integrated marketing consulting company. He is active in social media, co-moderates, #SMchat (a Twitter chat) and regularly writes about Customer Experience Marketing for Maximize Social Business.
He works with businesses to implement integrated marketing strategies that build Raving Fans.
To learn more about capitalizing on the local advantage by creating Raving Fans contact Joe:
Email: [email protected]
Phone: 804.690.4486
Connect on Linked In: www.linkedin.com/in/josephruizjr/
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