It is time for the
laggard companies to join the social media revolution and connect to customers
in a whole new way. No longer is it enough for companies to just push out their
products and services to the market and expect that customers will put up with bad
experiences or suffer poor customer service. In today’s world with many social
media platforms and the internet, customer retention risks have evolved and customer
experiences have much greater consequences. These technology savvy Customers
have become more educated, informed, highly opinionated, and have attained the
power to influence others on a global spectrum. Social media has allowed
customers to have a real voice. Ultimately, this kind of power can make or
break the profit of a company, making it crucial for companies to embrace
social media as an integral part of their business operation. As more companies
move their products and services online, customers have access to more choices
and have an expanded set of implicit and explicit expectations.
It is crucial for a
company to know their customers’ expectations!
Companies need to
listen to what customers are saying in conversations and must shift their
mindset to understand that customers are not just numbers but have distinct
sets of needs. Current trends indicate that customers expect more than just
products and service offerings from companies. Successful companies such as
Apple and Southwest Airlines have been named in the top ten for best customer
service. This suggests that providing exceptional service is truly valued by
customers today. In the past, customer feedback would be received via telephone
or email, either way, customers’ dissatisfaction was not always heard and
companies would risk losing their customer along with the people they
influenced. In today’s market, companies
need to listen to their customers using the same social media platforms that
are being used to voice customer experiences. But just listening to customers
is not enough.
The best companies
connect with consumers on an emotional level.
Marketing research
has indicated that when customers establish emotional connection to brands there
are extremely positive downstream benefits to the company. In order to achieve
this, companies need to earn the trust of their customers and then build those
trust relationships to harness that connection. There are a myriad of social
platforms today where customers are talking and creating online communities
with a high number of followers and influencers. Tapping into these community networks
will allow companies to get in touch with their consumer base in a way that was
not possible before the social media phenomena. The conversations never stop
and listening to them will provide feedback on what customers’ true expectations
and needs are. This will allow companies to develop products and strategies to
enthrall consumers and make that emotional connection that marketers covet.
Social Media is the
enabler.
It is through the social
media channels that companies can now connect with customers, employees,
suppliers, business partners and provide knowledge about their products. So it
is no longer a question of, “Should we adopt social media strategies in our
business?” but rather, how quickly companies can make it happen. Without a
social presence companies risk alienating their consumers or even worse, they
are allowing their competitors to build that differentiating emotional
connection which will lead to a significant loss of loyalty and business. To remain
competitive companies must reach their customers in a whole new way and social
media is the tool that will help companies today to become “The Connected
Company”.
