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December 8, 2008
Building Connections With Customers
I was reading an article in b2b Magazine about 2009 marketing strategies and came across some interesting statistics:
- Visa's luanch of Visa Business Network on Facebook earlier this year had signed up 20,000 small businesses
- American Express' OPEN Network, luanched online last year, attracts over 600,000 monthly visitors
Both numbers will undoubtedly attract attention from B2B marketers seeking to build stronger connections with their customers. There are some lessons behind the numbers, however, before hurtling into the market.
First, both efforts are not-insignificant efforts and are highly focused on delivering value to the visitors/friends. Not every initiative needs to be quite as rich in content as the AMEX OPEN site, but it sets a threshold of expectation that will not be easily matched. However, focusing on content volume is the wrong perspective. Focus first on content value.
Second, these initiatives work in part because of the trust factor each company has established in its brand. A little further in the article are two quotes worth noting:
- "Trust is a brand. All companies will have to find their trust position." Chris Wall, chief creative officer of Ogilvy North America
- "Trust will be a very important brand quality going forward. Companies will need to show transparency in their operations." Mike Mendenhall, senior VP-CMO of Hewlett-Packard Co.
Both VISA and AMEX have established very high trust in a broad swath of customers, and with their well-established brands come eye-popping opportunity in social media.
Fast-forward...what does all this mean to YOU? Here are some thoughts:
- Know your brand (company) -- what it stands for, what customers value in it. From that value comes the seed for any social media opportunity.
- Scale your initiative. Every company with a legitimate value has an opportunity in social media. The key to success is understanding scale and developing a plan that is right-sized to both your goals and to your value. Note...that does not mean small company = small success. Unknown blender manufacturer BlendTec has built a cult following online with its oft-outrageous "Will It Blend?" YouTube video series.
- Be authentic. Once an social media initiative starts, the community takes over, and any plan to execute a program that is not your "real" brand will be quickly exposed by the community.
A weak economy is making all marketers more open to innovation and new ideas/concepts. In the long run, this is a potential win-win for both customers (who gain more access and influence) and companies (which gain access and influence!) when well-planned and executed.
Posted by jcioban at December 8, 2008 7:43 PM
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