Social Media has Changed the Currency of Doing Business

Social media platforms have allowed consumers to VOTE daily for products and services. The quality of your services soon rises or fails via this impartial vote. Consumers more proficiently recognize and reward quality service with positive, enthusiastic, and in some cases, relentless feedback.

At the heart of doing business in this new business environment are several new communication paradigms, such as:

· Be Authentic: Consumer feedback will live online forever. A good review can generate new customers, a bad one can linger in a potential customers’ mind for a long time. A bad review can be overcome with proper care. Interaction with people about your business must be real, authentic, and transparent.

· Treat people fairly: Consumers enjoy a good, fair comparison or dialog between competitors. It highlights the strengths and weaknesses of each. As for relationships with consumers, brands and marketers can no longer pound away their message via frequency and reach old standards. Today, everyone is in the “same room” talking. If we try to speak LOUDLY, just because we can, we will most likely be ignored.

· Customer Feedback is paramount: A good product or service can be dramatically affected by bad recommendations and negative feedback. This can happen with a disgruntled customers post if you don’t engage early on and be open.

· Turn negative reviews into new followers: One of the benefits of this open environment is hearing true reviews of your product from the end consumer themselves. If you really care about quality and service you can improve your product so it earns not only rave reviews for improved quality, but customer praise for your responsiveness.

At CMI we appreciate this “open source” climate. Daily we are learning how to communicate with consumers more effectively, more simply, more realistically, and more often. It streamlines our customer service, greatly improving customer retention, and reducing lost sales through unresolved product failures.

Tags: , , , , , , ,

Comments are closed.