May 26th, 2009
How quickly do you respond to sales inquiries that arrive via email? How about support issues? Stop for a minute and really think about your answer to these questions. Can you quantify them? If phrases like, “pretty fast” and “we’re not so bad” are the best you can do, then you’re like most companies.
In fact, you might be better than most. A study of small and medium-sized North American companies revealed that 51% of businesses never responded to emails with high-value purchase intent. A more recent study by Hornstein Associates shows a steady decline in customer service response rates since 2002. In 2007, only 33% of companies responded to emails sent to customer service within 24 hours, down almost half from a high of 63% in 2002.
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May 14th, 2009
In certain marketing circles it’s considered sacrilege to use your competitor’s name in your own communications. “Why use your money to promote their brand” – or so the thinking goes. While I admit it’s not terrible advice, it’s not always the right advice either. There are certain situations when explicit mentions of direct competitors are not only appropriate, but encouraged.
When the industry in which you compete has not yet ‘gone mainstream’, a decent portion of your marketing effort is needed for education. This is true, in fact, for all the players in the space. In burgeoning markets then, a chunk of the collective marketing executed by all the competitors is being used for ‘category building.’ While marketing-types would like to use 100% of their budgets for brand building, it’s simply not possible until there is a robust market from which competitors can carve out a lasting position.
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May 6th, 2009
Are you on Twitter?
Oprah is. President Barack Obama is. Martha Stewart is. Same with Shaquille O’Neal and John Mayer. Zappos.com CEO, Tony Hseih, entrepreneur Mark Cuban and AOL co-founder, Steve Case are all tweeting away too… and that’s barely scratching the surface of the popular microblogging service’s users.
But Twitter isn’t just for the rich, famous and successful. There are 6 million users currently signed up with the service and, according to predictions by eMarketer, that number could double by the end of 2009.
Twitter is also not just for individuals. More and more businesses are tweeting, to varying degrees of success. Should your business jump on the Twitter bandwagon? Signing up for an account may seem simple enough (it’s easy and free), but the question I often hear is “then what?”
Here are a few tips for navigating the Twitter landscape as a business:
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