BLOG

Unscrupulous users exploit technologies shortcomings by masquerading themselves for personal benefit.   Stone (2007) defines “sock-puppeting” as the act of creating a fake online identity to praise, defend or create the illusion of support for one’s self, allies or company. A sockpuppet is an online identity used for purposes of deception within an online community. In its earliest usage, a sockpuppet was a false identity through which a member of an internet community speaks with or about himself or herself, pretending to be a different person, like a ventriloquist manipulating a hand puppet. Trust is an essential ingredient of digital communities, therefore members should have a healthy dose of skepticism when participating in these types of communities.

So make sure you can identify your customers otherwise your brand can end up looking for a bailout!

There is hope and lots of opportunity, even during a recession; you just have to know where to look for it.

Recessions have a strange habit of changing rational behavior into frenzies of desperation. While markets adjust, the fundamental tools of economics “supply and demand” remain busy making amends for prior excess and greed. Many marketers have never been exposed to a market that does not conform to conventional wisdom. Now they have to re-adapt in order to succeed.

The recent hike in oil prices is a clear demonstration of the effects of market manipulation. As oil prices dropped OPEC reduced production in the hope of increasing prices. However the market did the complete opposite and prices fell further, contrary to OPEC’s intent.

The point I am making is that customers are like markets; they cannot be controlled or manipulated over a sustainable period. The panic and fear that the current recession is producing is ravishing the reasoning faculty of many brands marketers. Why you might ask? Because many of them believe slashing prices in order to maintain share is the best strategy in a downturn. Just as the Black Knight in Monty Python’s Holy Grail believed he was invisible, he was unrepentant even with the loss of all his limbs.

The same type of reckless behavior is also prevalent with panicked discounters slashing prices, believing that what worked in the past is sure to produce improved results in the future. If you want to see how fast the world is changing check out these stats.
Continuous discounting is not fiscally maintainable, even brands with the deepest pockets use it sparingly as a short term tactical event. So what’s the alternative, a loyalty program that has been designed to engage customers at a much lower cost when compared to discounting. Besides from choosing their individual reward (which is a key motivation factor) customers now tell most of their close network just how cool the reward program is and become WOM (word of mouth/mouse) brand advocates.

The rich and relevant data produced from an interactive loyalty structure contextual offers which can be specifically targeted at select customers. This strategy maximizes benefits and efficiencies for both members and the marketer. We refer to highly engaged customers as “Alpha” customers, engaged consumes as “Beta” and active customers as “Omegas”. Alpha customers spend 20 times more than a regular customers, Beta 10 times and Omegas 5 times.
So if you are looking to increase sales in the near future, identify your most profitable customers and then maximize your share of their purse by offering meaningful rewards that build lasting relationships.

Unless your brand wants to become the butt of comedians jokes , make sure that you deliver on your promises. The pizza industry is notorious for adding new toppings, crusts, shapes you name it. These tactics highlight just how far a commodity product can be differentiated. Without a doubt some pizzas are better than others, the challenge is how do you communicate this credibly.
Regardless of how loud the advertisements shout (similar to yelling car dealers) one needs to take into account that consumers are not stupid.
This skit emphasizes the extreme product features some brands would have you believe are really possible;

The next time your brand launches a new product, flavor or variation, remember you can fool a few people some of the time, but not everyone all the time. Honest communication and consistency are two of the most essential ingredients for building sustainable brand loyalty.

What is Schadenfreude? Perhaps the greatest word in any language, Schadenfreude has become the defining emotion of the 20th Century. From the German, Schaden (damage), and Freude (joy), it means the enjoyment obtained from the troubles of others. It is the easiest, and often the most fulfilling, enjoyment available. http://www.bbc.co.uk/dna/h2g2/A287255 It is commonly referred to as “Happiness at the misfortune of others”Here is an example of all the sexy beautiful people taking a fall.
Here is an example of all the sexy beautiful people taking a fall.

The animal kingdom is less forgiving, make a slip and your dead. The same is true in business, competitors are merciless and will devour your customer base without hesitation. The recent meltdown in the capital markets have caused many smart and often prudent investors to make rash decisions based on fear. Why is this so? Because predictability brings security, removing one’s ability (or at least the perception) to predict future events, makes one insecure. The winners in these markets not only delight in the losses of others, but often depend on them to survive. Predictability brings security, however the only thing we can secure is our ability to control our attitude in any given situation. Everything counts, especially during challenging times. So keep your customers excited and delighted, otherwise your competitors will indulge in a schadenfreude feast at your expense. Marketers should focus on understating the wants, desires and needs of their customers. Technology (blogs, forums and digital communities for example) has enabled two- way communication channels that create an interactive dialog between customers and brand stakeholders. However some brands are petrified about unbridled open conversation. Remember, you’re best friends tell you the truth even when its hurts, because they love you. The same is true of your best customers. Engage them and you will create a host of loyal brand evangelists. A marketers dream.

Adoption - an instance of adopting somebody or something such as an idea, name, or attitude.

Imagine being able to create a family without ever getting pregnant.

So many brands and products frantically seek to get people pregnant in the hope of being accepted, when in reality people would adopt them without the need to get pregnant. Remember the book, CD and DVD clubs that offered your first favorite for a 99c. You then end up with a monthly subscription for a whole host of products you probably did’nt want.

However it takes more than good looks, charm and being cute in the world of technology adoption. For example, having a unique bar-coded coupon delivered to my cell phone with the latest discounts and offers is really exciting. I then take my amazing offer to the cash register attendant and discover the laser POS system can’t recognise my coupon because of the low resolution of the cell phone screen. The new invention becomes now appears to be unadoptable.

As you develop your next product or service make sure every step of the transactional process has been taken into account, otherwise you run the risk of never being loved, simply because  you developed excellent products that nobody can use.

How many times have you heard technology marketers ranting about how they are going to revolutionise the world. The dilemna marketers face is who should they believe.

Because we work with some of the worlds best known brands, new technology vendors are constantly approaching us with the next ‘big idea’ and how its going to revolutionise our customers markets. The dilemna we face is deciding which new technology will be adopted in the marketplace. The is first step is to, blow back the hair so you can get down to the hide. Numerous questions need to, these are three fundemantal questions that have to be answered;

1. Will it attract and gain new customers for our clients

2. Will the value of average orders be increased

3. Will it increase the frequency of orders

Unless the answer is YES to all three, its not even worth evaluating. Why? because post modern marketers have access to a wealth of performance evalution tools. Having “buzz” and being ‘cool” no longer pays the rent. Its all about performance that can be measured, quantified and justified by results.

So the next time someone knocks on your door and promises to “rock your world”, ask them these three simple questions. Or your might find yourself buying Mutton dressed as Ham