Monthly Archives: October 2009

How it all started

While selecting parameters for the planned purchase in terms of it’s specifications was not too difficult, if you know what you want, predicting quality of your ownership experience may prove to be much more complicated. Continue reading

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Commentary on Desired Customer Outcome

I have encountered some mixed emotions among some Market Research and Customer Experience Management practitioners about the usefulness of Customers Reviews as a source of real business intelligence, as opposed to their use as marketing gimmicks. I do not fancy myself as a true professional in these fields as I lack true hands-on, hard core operational experience; however, I doubt these mixed emotions and remain determined to develop technology that “listens” to the stories of customers to “learn” and measure how a product experience meets customer’s expectations. I ran across this post today from ClearAction that clarifies some of these doubts: Continue reading

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From Data to Wisdom

Correlating the information, produced by tracking these two data points over time, with sales numbers can create a knowledge – “product with inferior reputation tend to undersell it’s competition by X%, when sold at competitive (i.e. similar) price”. Now, this is an actionable knowledge as our MP/PM manager can attempt to discount ABC product to stimulate sales or attempt to improve customers opinion about it. Continue reading

Posted in Product Management, Product Marketing | Tagged | 8 Comments

Re “Marketers Ignoring Customer Feedback from Social Media”

A Social Media Survey conducted on behalf of PRWeek and MS&L by PRWeek and CA Walker found that marketers don’t make changes to their products based on customer feedback, despite monitoring feedback being one of the most common business uses of social media in the first place.

The survey found that 70% of marketers say they’ve never made a change to a product or marketing efforts based on feedback from consumers on social media sites. Continue reading

Posted in Product Management, Product Marketing | Tagged , , | 1 Comment

Recent Site Problems…

Yesterday it was brought to our attention that our Review Display Module was acting rather strange. Users were experiencing issues with the wrong product’s reviews displaying while using the V2P Accelerator; some complained that no reviews were showing up at … Continue reading

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Great conversation about “Social CRM – Lipstick on CRM or Transformational Business Model?”

The more fundamental change may come from reevaluating the reasons for engaging the customer – companies always wanted to market to and to sell to, both represent a push engagement model, more effectively and to service (push/pull engagement) more efficiently. These are already being explored by a number of vendors and companies, with a various degrees of success. Continue reading

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Commentary on “A future vision of CRM”

I’ve heard the argument that traditional CRM “is dead,” but this is far from the truth. In fact, as Brian notes, Social CRM does not replace transactional CRM systems, rather it augments them. What CRM is in desperate need of is new data sources and tools that help integrate and analyze this data. The future vision of CRM also requires that companies get involved in new channels and cede a certain amount of control to the customer – it’s less about management and more about engagement. Continue reading

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Financial Impact of Product Reputation on the bottom line

Product Reputation is another term which is difficult to define, measure and manage. It is often misunderstood as measure of Customer Satisfaction with a product, and both are certainly related, however the methodologies around measuring them are quite different and that makes measure such as CSI (Customer Satisfaction Index) or NPS (Net Promoter Score) results not as actionable, in my opinion, as Product Reputation scores. However all of these do, arguably, influence financial results, and overall brand value of the associated products. Continue reading

Posted in Product Management, Product Marketing | 5 Comments

Authenticity of Consumer Reviews

I am aware of quite a few, well documented, instances of attempts to manipulate public trust by overzealous, not too smart and surely unethical marketers. You can find some references to those in Evolution of BPR blog, WSJ Blog, as well as many other places. This practice is illegal and the article in New York Times describes the case that is the first precedent of the law application in such case. Incredible transparency supported by Internet exposed less egregious attempts by others to brake public trust using the most popular customer review sites and eroded reputation of the companies involved. However we are siting examples of a dozen or so known examples, that involve hundred or hundreds of actual reviews, while there are tens of millions of customer generated reviews were published over the years. Is it reasonable to dismiss a public service of multitude of socially minded individuals for the sins of a few corrupt or misguided? Continue reading

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Social Media and ROI

“Lynne d Johnson, the ARF’s head of social media (formerly head of communities at Fast Company mag.) asked our expert panel about ROI, it was clear that we don’t have all the answers yet. However, the answer I liked best was Heather’s; “What is the ROI for you to send your mother a mother’s day card?” So I might add, what is the ROI for authenticity? Who cares? What kind of company do you want to be? “

I have an answer for Ms. Heather Maxwell from General Mills’s rhetorical questions – I am sure that among other things, General Mills wants to be a profitable company. Perennially unprofitable companies have a nasty habit of disappearing from business landscape along with the employment they provide to social media visionaries. Continue reading

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