How can you retain them and build loyalty among them when you don’t know who they are in the first place? Now that’s a trick I would like to see for sure.
But misery, or in this case, ineptitude, loves company for retail only marketers were not the only group with such a low aggregate acumen of their Most Valuable Customers (MVCs). From a study which surveyed across a wide range of industries earlier this year by Acxiom and Loyalty360 where a mere 49% indicated they know who their MVCs are:
Again, how can you hope to retain someone and build trust and loyalty when you don’t know whom you are speaking of or to? I just find these low percentages to be downright frightening for in today’s data-driven world, where you can know, in real time in many cases – not only who your best customers are but what they are doing when it comes to you brand – how you (marketer) can claim ignorance when it comes to identifying them in the first place?
Yes that is a very low number for sure but this all goes back to the fact you cannot retain them if you don’t know them.
And once you do know them, well as I wrote back in March “Mr. and Mrs. Brand, remember who brought you to the dance, aka your most valuable customers. Don’t ignore them once the dance starts, talk to them, engage with them and stay engaged. And dance your little hearts away all the way to the proverbial bank.
Technology has given it access to huge applicant pools, making it easier to find the most talented candidates, and provide them with high-quality training once they are hired. Global payroll has become routine. HR operations have become so efficient in the last five years that they now driving those efficiencies throughout entire organizations.
Say what, didn’t get that memo? It is because HR still has an image problem, not a usefulness problem. What HR needs today is an extreme makeover to highlight the enormous across-the-board advances, rather than prolonging HR’s error-prone, lazy, and bureaucratic rep it has been given.
We reviewed over 2B impressions from online conversations including more than 400K mentions of HR in blogs, news articles, and social networks. The results: HR appears to be a hot topic but not necessarily led by an overly passionate group (Passion Intensity score: 30 and overall Net Sentiment score: 57). One of my life quotes is with every negative there is a positive. We explore the top 5 things we love and 5 things we don’t like about HR.
“Invest in social culture before social technology”
In this post I will explain the harsh question you need to ask yourself before you decide to spend a pound, euro or dollar on any social media related software. And while you’re at it, hold the head count for any staff to work on social media as well.
Social is a not about the technology, it is about a cultural shift to create a more honest, open, transparent way of doing business.
“No one can sell you a tool to fix your culture”
2. Get more customers by using blogging to answer questions