This article discusses values-based CRM concepts in regards to aligning marketing, IT, and financial functions. An interesting point made by the authors [F]ocusing just on the ability of IT to support strategy and processes bears the risk of not utilizing the full potential of innovative technologies[.] It’s clear there is a critical interdependence between both [...]
This e-loyalty research paper helps clarify the roll of online customer service in creating customer loyalty (“e-loyalty”). The paper focuses on the Austrian mobile industry but the findings are applicable to many industries, including real estate. Two broad categories frame customer loyalty: customers who become your repeat purchasers and customers who become promoters of your brand. [...]
Below are two fascinating studies on communication theory and practice. The commonality between both is the nexus between effective use of social media and word-of-mouth marketing. The first study Social Media Marketing vs. Prevalent Marketing Practices: A Study of Marketing Approaches for Micro firms in Sweden (.pdf download) focuses on micro firms leveraging social media to promote [...]
The book Democratizing Innovation by MIT Professor Eric Von Hippel (available via free .pdf download) makes an interesting observation about the term “consumer”. Throughout his book, Von Hippel employs the term “user” as opposed to consumer: Users, as the term will be used in this book, are firms or individual consumers that expect to benefit [...]
http://www.web-strategist.com/blog/2010/11/02/altimeter-report-social-commerce-how-brands-are-generating-revenue-by-lcecere/ http://www.briansolis.com/2010/11/the-rise-of-the-social-consumer http://www.fastcompany.com/magazine/150/the-new-influentials.html http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.156.8795&rep=rep1&type=pdf This article on social media New Influentialshttp://www.fastcompany.com/magazine/150/the-new-influentials.html raises an interesting question regarding “incluence” on the social web: what’s the core driver of influence in the social web when it comes to commerce, a person, her community, or both? The article profiles six individuals who have variously used YouTube, corporate resources, quasi-anarchist [...]
The Gartner Hype Cycle is a useful graph for analyzing technology hype. Looking at the Gartner graph, I’ll posit we’re somewhere near the “Slope of Enlightenment” and the “Plateau of Productivity” with respect to social media. Over the past couple of years, business leaders have stepped up to the plate and faced some serious pitches [...]
Collaborative CRM strategies offer firms unparalleled opportunities for establishing more meaningful relationships with their customers and clients. Mobile CRM is closely aligned to collaborative CRM concepts. This research paper characterizes collaborative CRM as: The notion of collaborative CRM is still in discussion and has two interpretations that are often mixed…The first is closely connected with [...]
This research paper focusing on the hotel industry indicates that although delighted customers have generally positively views of brands, a satisfied customer will more likely take action supportive of loyalty marketing constructs (i.e., actually book a return trip) because they have an emotional connection to the brand. Thus, the researchers suggest that marketers focus on [...]
This research paper on CRM strategies used by RBC Royal Bank of Canada (Bahamas), analyzes whether the bank successfully applied the four P’s of CRM (planning, people, process, and platform). It’s well established that financial success is tied to a well executed CRM strategy which drives customer loyalty and customer satisfaction. What this research paper [...]
I love it when research/theory manifests in application/practicality. In 2007, I wrote about research being conducted on semantic analysis related to social media and blogs, and now there are companies using products stemming from this type of research. Information Week covered text analytics, describing how JetBlue uses text analytics to understand customer sentiment from email [...]
This Harvard Business Review article (subscription necessary) makes a strong case for companies to create customer strategy departments and positions. One section of the article focuses on “Customer-facing functions” and makes some great recommendations: Customer Relationship Management (CRM) responsibility should migrate away from corporate IT and into the customer strategy department since CRM helps companies [...]
What factors influence effective cross-functional team environments that spur the greatest innovations and competitive advantage? The authors of this study (.pdf) (focusing on manufacturing) determined that baldly implementing a cross-functional team approach is not a universal good. Notably, the authors found that cross-functional teamwork involving marketing may have a negative effect (the authors noted too, [...]
To what extent does corporate reputation affect customer loyalty? This study (.pdf, begin reading at page 28) found that corporate social responsibility (CSR) is the second most important factor influencing corporate reputation (with overall competency being first). In fact, CSR was found to have a higher impact on corporate reputation than product price. The authors [...]
What factors keep an online community happy, involved, and engaged? The authors of this study (.pdf) found four primary things influence these three factors: Purpose: Clearly define the purpose and values of the community space with a well-articulated and succinct statement so people who join the community know what to expect, while internally defining your [...]
To what extent does employee loyalty and commitment to a brand drive overall customer loyalty? This research paper (.pdf) tackles that question and concludes that employee attitudes toward their company have a high degree of impact on customer loyalty. What the authors essentially argue is that fostering a corporate environment that espouses a unique and [...]
Trust is a major driver of customer loyalty. How does a corporate brand secure this trust following a breakdown in service delivery? The authors of this study (.pdf) ponder this question and proffer some intriguing insights. The authors argue that negative emotions experienced by a customer following a negative service experience do not necessarily change [...]
Razorfish points out keen ways to leverage user-generated content (UGC). In the midst of all this social media mania marketers can leverage UGC to gain insight and develop relationships. A poignant take-away from the Razorfish blog post: UGC is not problematic in it’s own right, rather it’s filtering UGC to gain actionable intelligence that will [...]
Deux Gros Nez, an eclectic, wonderful restaurant in Reno, Nevada, closed its doors a couple of years ago. It’s where I, as a dedicated employee of Tim Healion and Jon Jesse (then owners of Deux Gros Nez), learned about community, service, and the power of passionate brand ambassadors: Flickr tribute YouTube interview A person’s thoughts [...]
Chris Brogan interview Excellent interview with Chris Brogan on how he’d run an airline and implement some social web karma; great insights, well worth the 9:58 investment of your time. The interviewer, Shashank Nigam, CEO, SimpliFlying, asks some really good questions. My comment after listening to the interview: That was seriously cool. Semantic Web This [...]
There is a reason I choose Southwest Airlines as my preferred airline: client attentiveness. There is a reason why I don’t pay attention to accumulating miles with a competing airline to ensure preferred boarding status but love Southwest’s Rapid Rewards program: client attentiveness. There is a reason I am a self-appointed brand ambassador for Southwest Airlines: client attentiveness.
Thank you to Nic Brisbourne and his The Equity Kicker blog for (a) highlighting an intriguing video of UK journalists debating the veracity and viability of blogs and (b) pointing out an excellent presentation on the Customer Development Model. Both offer some tasty take-aways. I find the debate curious. Universal McCann’s 2008 Wave 3 study [...]
Let’s assume a situation where intellectual property and licensing issues are properly resolved and set with respect to granting outside developers access to MLS content and data. If you’ve heard of an MLS (or a broker with a VOW) that has engaged a group of skilled programmers similar to what Washington D.C. did with its [...]
Are your prospective clients having to act like abalone divers to interact with you? Abalone divers furbish themselves with an abalone iron to pry off abalones from submerged rocks. These divers are committed to their task, as abalone is considered a divine delicacy to some. But if prospective clients have to work like an abalone [...]
Chris Brogan’s recent post challenges marketers to begin thinking of ways to use the social web to leverage traditional marketing expertise: Marketers, are you paying attention to who’s spending how much and where when you read magazines, watch TV, or see billboards? Are you extrapolating out what it means to you, your business, etc?…If you’re [...]
Real estate marketing professionals interested in farming, cultivating, or harvesting customers should consider something new. Livestock management perhaps? How about genetic engineering of new hybrid corn? Better yet how about driving a combine or cultivator? It’s time to shed these agri-centric terms that are so often used in conjunction with traditional Customer (Client) Relationship Management [...]
The comments in this post offer an “in the trenches” snapshot of many issues framing the current real estate crisis. The dialogue between Scott and the listing agent is particularly fascinating and elucidates the inherent challenges agents face in a market where traditional and foundational norms have been so acutely destabilized.
Trulia partnered with 1020 Placecast to provide targeted ad services. Once users input a location they want to learn more about on Trulia, Placecast will access that data and apply it as a key component along with common demographic data points like psychographic information to provide more targeted ads. This process makes sense especially at [...]
