The Better Business Experience for your Customers, Prospects and Partners

Axel Schultze got my attention over at Social Media Today. We were discussing the Forrester report on  sponsored conversations and as comment to my post he quoted his post "Not the Internet but the business model killed industrial media."

Of course, if he were a reader of my blog, he would know that I've written about that here in my Sunday series on new media and mainstream media.

Which goes to show that even though we're having these conversations on content and may make instant friends online, we do not really know each other or the whole of how we think and operate until we take the time to talk, listen, experience, and maintain a dialogue.

That is valid for companies as well. And although businesses constantly talk about scale and critical mass, they very much win or lose in the marketplace on the basis of single relationships. We're customers one at a time. Try telling that customer on the phone with you that you treat thousands of people that way, and see what happens.

In a post that addresses the topic of Recession 2.0 Axel shares observations on the current economic situation. As a linguist, I find his title interesting:

We call an economic melt down “Recession”, when we don’t know the origin of the situation. We call a Recession a “Depression” if we failed to find the reason and continue the way we did in the past

There is little of the usual in business today, and I'm increasingly intrigued by the fact that many an organization still thinks it can optimize and contract its way to greatness. The social web has changed not just the way we consume news - it has also changed how we want to contribute to creating that experience and the expectation we have of the companies that are in the business of delivering it.

To create a better business experience for your customers, prospects and partners, you need to (building on Axel's points):

(1.) Re-architect your every impression

Although it is the first impression that is often the only impression a customer will get of your service, every interaction counts. Impressions are the currency in social interaction, the equivalent of ad exposure and a much better metric with engagement.

• Put your best people on customers - “I don’t want to talk to a sales rep, I’m not ready to buy,” a customer told me on the phone. This is what happens as a result of compensation tied exclusively to a sale made and not a long-term account or customer relationship. There are experts in an organization we are willing to talk with because we know they will put forth an informed opinion and advice without trying to sell us something we don’t want right now. Ironically, we may end up buying as a result.

• Talk with customers differently - You speak the language of efficiency and scarcity, your customers think in terms of collaboration and story - most likely their story/experience with you and other providers. You hear what they say as a problem, when you could be listening for the opportunity it comes with. An ad can be the tipping point.

(2.) Rethink your product / service / pricing model

This is where re-engineering will come in handy, not when you're going to have layoffs to preserve the core. At that point, your business is already in a coma and will be on life support until someone comes along and pulls the plug. I've long believed that a business needs to stay calibrated and aligned with market demands, thus rendering drastic measures unnecessary.

• Reinvent the customer relationship - Today it's our responsibility to start rebuilding and refocusing, not just to do more with less, but to really get a sense of exactly what makes a difference. Making meaning with our customers is one way to growth. Part of it depends on our product and services - are they innovative, do they keep up with the needs/wants, do they help customers in substantial ways? 

• Amazon's secret to online dominance - It's in the many micro-interactions that we have throughout the site that we end up spending time and eventually money. Amazon has price transparency and helps you choose more products by presenting the information in a certain way.

(3.) Redefine your corporate values

I like the suggestion of managing and measuring customer experience by tangible activities in the ecosystem. Do you elevate your customers to the role of advisers? Today at Fast Company expert blog we discuss how to build the tangible activities that make customer contact the relationship sport it should be.

Those who want to put on a white lab coat and analyze customers in a vacuum, perhaps, aren't interested in having a frank conversation with a customer who thinks your ad sucks, it doesn't speak to them, and you don't get it. That would be a lost opportunity.

Value in the marketplace is determined by your customers. Do they think you're relevant and trustworthy?

Comments

[Rod Gillies]

It's all about having a decent story to talk to customers about, credibly offering impartial advice on growing the whole category you play in rather than just the sales of your particular brands/product.

If you don't have any decent stories to tell customers on how to drive growth (for them, rather than you) then the default conversation becomes about price. And that's no fun at all - for either of you.

[J. Paul Duplantis (Quired)]

"Create a better business experience for your customers, prospects and partners".

The internet is changing the delivery of the experience which is providing more opportunities to determine intent.

Under the old push media paradigm, the consumer had to take it on faith that a major car manufacturer was out for their best interest in selling them a car.

The car maker was able to carefully craft the experience and control the delivery of this message in such a fashion as to control the end behavior.

They were in control of the experience and therefore intent could be masked.

(The intent here being more focus on revenues than the consumers needs)

With social media, the intent is much more difficult to mask. Now the consumer is not only building a perception of a product based on a controlled experience and recommendations from a few close friends, they are able tap into an enormous feedback loop to help them better determine intent and value.

Thus better products, happier consumers and more profits.

It is the evolution of transparency and accountability that will change business models for the better but will not come without it's share of problems.

Build products that consumers truly want and the services consumers truly need through an experience consumers can relate to and advertising begins to morph from a distraction to an opportunity for both consumers and producers.

[Dan]

I would like to see how the enterprise level brick and mortar only companies grow without using social media and other forms of two way communication.

I would wager that there are going to be many more companies that falter over the following months.

[Rich Becker]

Valeria,

Outstanding. You just illustrated everything I think a brand really is ... the relationship between the company and a consumer.

In terms of Internet adoption, I'm sure some companies were content to just ignore the phone too. That is what they are really saying isn't it? I know you're my customer, but I don't want to communicate with you on your terms. I only want a relationship on my terms. Ho hum. Let them fail. :)

All my best,
Rich

[Valeria Maltoni]

@Rod - I couldn't have said that better myself. Brevity is a gift! Thank you, yes, it does boil down to value for the customer.

@J. Paul - maybe they were in control of the story. The experience was always in the minds of the customer, but he/she was isolated. Now they/we can find each other and share. Ah! Good thinking here.

@Dan - you might be correct in your assessment. But not because of the lack of tools, because of the lack of interaction and participation.

@Rich - actually, I don't think that the modern corporation wants a relationship at all. It cannot sustain it. It's too complicated, too partitioned, too much to deal with.

[Axel Schultze]

Valeria, you are truly a conversation agent. You are right, I didn't know your blog but now I know - within hours I became part of your conversation. And thanks for the reference.

And while I subscribe to what you worked out in great detail, my experience in the media is not as rigorous as you describe when you talk about the "first impression". I find it very interesting how you get to know people over a few blog posts and tweets and build up what may become trust over time. The longer we use the media the more careful we get with judging people on the first impression and I personally think this is an awesome development in our society. But then - it is just a nuance.

@Rich and @Dan, after working with those giants, I developed some better understanding about their issue. For example: How do you deal with 100,000 customer messages per day, 15,000 resellers in between you and your customer and a sales organization that has been conditioned over years to use methods that are 50+ years old. It is no excuse but those organizations cannot change over night even if they get the best managers in the world.
If we want better products and services, we need to help them change. In order to help them we need to talk their language. Like Valeria says: - How talk can change our lives.

Thanks

@AxelS

[gianandrea facchini]

Valeria, I think Axel raised a good point about the quantity of messages worked in one day and the challenge of changing this approach in a short time. Still I believe that the problem is deeper than that. We have to re-tool an entire economic system which was based to create value for shareholders and not for customers.

[Rich Becker]

@Valeria

If someone ignores you, it's still a relationship. The only difference is ... it's a bad relationship.

@AxelS

Yeah, I wrote about companies that said the same thing about telephones 100 years ago. I work with several too; there are many that don't see it as a problem as it can increase engagement but reduce individual contact. Eg. One post might answer a question for 10,000 customers, reducing the number of calls.

Best,
Rich

[Valeria Maltoni]

@Axel - suspending judgment is a good thing, it's also a sign of maturity - both of the individual and the media (possibly). Thank you for joining the conversation. You've given me good food for thought.

@Gianandrea - indeed the problem is bigger.

@Rich - I'd like to have no relationship with those who ignore me :) We can still choose, right?