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Showing posts with label business marketing. Show all posts
Showing posts with label business marketing. Show all posts

Tuesday, December 18, 2012

6 things your company needs to fix bad reviews


By Joshua Reynolds

A bad review on your business can be very damaging to your overall brand, especially if you don’t know how to properly fix it.

Some companies think that the best way to fix a bad review is to just ignore it altogether, but not responding to a negative review can be the most fatal mistake that companies make.

If you want to fix the bad reviews on your business, you’re going to need the following.

1. Claimed business pages

Visit all of the review sites that you can think of and make sure to claim your business page. By doing this, you will be able to not only edit the information that is shared on the sites about your business (plus add pictures and link to your website), but you will also be able to respond back to reviewers as your business. This is a great way to make the response seem more legitimate to your reviewers, and it can help you better alleviate any issues.

2. An apology

No matter what the reviewer is claiming, you need to make sure that you apologize for any wrongdoings of your business and for any poor experience they had with your company, products or services. By simply owning up to the unhappiness of your customer, you are showing them that you care about what they have to say and that you are willing to stand up to your mistakes.

3. A sincere tone

Some reviews are going to be so raunchy that they will make you wish you could cause harm to the reviewer, but it’s very important that you don’t let your emotions get the best of you. Instead, make sure that you are always using a very sincere tone every time you respond to a review. By being polite, you are making it harder for the reviewer to come back and continue attacking you. If you are sarcastic or rude in your response, you will only make the situation worse.

4. A way to make it better

A great way to fix a bad review is to have a way to make it right to the customer. Some companies prefer to give a discount to customers who left a bad review in order to get them to give their establishment another try. Some companies listen to the complaints of their customers and make the necessary changes to ensure that no other customer has the same unpleasant experience. You need to think about how your business will make the situations better, and then use this to right your bad reviews.

5. A manager

It has been found that a response that comes from a manager (or owner) is much more appreciated than a response that comes without a person’s name or title behind it or from a regular employee. If your response is coming from the username of the company, make sure that the manager writing the response shares their name with the reviewer. This will make the apology feel more personable.

6. Proof

Some bad reviews are fake, and most businesses don’t want fake negative reviews sitting on their page. If you believe that a review about your company was fake, then you will need to have proof of the fraud and give this to the review website. Most sites are willing to take down fake negative reviews as long as the fraud can be proved. Make sure to follow the guidelines given by each respective site if you plan on doing this.

Joshua Reynolds is a business manager and reviews tracker.  He enjoys blogging about anything related to business and recently gave advice for fixing bad reviews.

Wednesday, June 15, 2011

Are martini glass logos a good idea?

Corporate logos on martini glasses are a form of advertising ideally backed by strong marketing and marketing research. This article will discuss the corporate logo on Martini glasses in terms of 1) target demographic, 2) logo objective and 3) product branding. The decision to utilize corporate logos may first be carried out in a sample population such as a city or town prior to expanding the campaign, and after researching the feasibility, and affect the martini glass logo advertising campaign has. The reason for testing the advertising on a smaller group is to validate the statistical, quantitative and/or qualitative market research.

 Image source: 'Kyle May', CC BY SA-2.0

The martini drinker: What demographics is the logo aimed at

The objective of utilizing martini glasses with brand names should conform with marketing and corporate goals. For example, increased sales of a product, higher product exposure, creation of brand image etc. Since martini glasses are quite specific in usage, location of use and demographic, the product should be aimed at those consumers most likely to drink martinis. Some attributes of martini drinkers are the following:

• Pro-alcohol
• Over 21 years old
• Worldly or informed
• Drinkers of Gin or Vodka
• Partial to complimentary products ex. Napkins

These are just a few common aspects that may apply to martini drinkers that illustrate who corporate logos on martini glasses would appeal to. Moreover, just are the persons more likely to drink martinis, there are also those who are less likely to drink martinis such as the following:
• Children
• Non-drinkers 
• Religious Muslims
• Health advocates

Thus the corporate logo on martini glasses targets martini drinkers who tend to fit into a specific demographic grouping. This helps eliminate the range of products less likely to benefit from martini glass logos and assists in clarifying the objective of the logo. The objective of the logo should not only conform to the identified target market but also influence or appeal to that group. Otherwise, the target market has been identified but advertised to incorrectly.

The logo: Defining the objective of the martini glass

The objective of a martini glass logo is obviously advertising and marketing, and perhaps less obviously to indicate the type of glass, country of origin and other manufacturing information. Generally however, the objective is creating brand awareness. Determining how best to generate brand awareness involves 1) analyzing the market 2) weighing pros and cons and 3) implementation of the advertising campaign. These factors should ideally be considered prior to distribution of martini glasses. Some possible objectives to consider when utilizing logos on martini glasses are listed below:

• Affect on revenue
• Congruence with corporate branding as a whole
• Increases in brand loyalty
• Improved consumer awareness
• Positive cost/benefit proportions and profit margin
• Enhanced product perception

After analyzing the market, and performing a SWOT analysis it should become more clear to a company's marketing team how useful a logo on martini glasses is likely to be. Moreover, research should be aimed at measuring the liklihood of the above objectives being achieved. The research may involve product testing, consumer surveys, branding cost comparisons, production and logistical feasibility studies and so forth. If the it becomes evident that the corporate objectives, applicable time horizon and/or strategic objectives of a company can benefit from the martini glass logos, it may be worth while to implement a campaign that includes the glasses.

Product branding: How martini glass logos affect the product

The martini glass may be branded in a number of ways and the martini glass itself doesn't necessarily have to have a logo on it. If a company is giving away free glasses to promote itself then a logo may not be needed. Moreover, if a business is promoting an event or providing financing of an event, then the martini glasses along with martinis itself be advertising enough. Some companies that might benefit from use of martini glasses and or logos on martini glasses are the following because they are more likely to appeal to the aforementioned demographic.

• Alcohol producers
• Bars and hospitality venues
• Event marketers
• Corporate sponsors
• Artists, artisans, or glass blowers
• Martini glass distributors

The above list is not necessarily exhaustive of who might benefit from corporate logos on martini glasses but is indicative of the most obvious of beneficiaries. To go beyond these types of companies could involve more marketing risk and hence necessitate more market research that costs money. This is not to say a whole new way of bringing a somewhat un-marketed product to the forefront of a new marketing campaign isn't possible. For example, consider the image of the martini itself. A cocktail among many it has acquired a reputation through history and film. Without that type of branding, the martini might very well have no significant pre-existing brand value at all.

In other words, martinis themselves were branded long ago and add value to any branding on top of the martini's existing brand equity. How the martini is portrayed, its brand image and when it is used can all influence the affect of the martini glass logo. Consequently, putting a corporate logo on a Martini glass would ideally be considered not just in terms of appearance but also context. Other factors relevant to and surrounding the martini glass' logo include a number of aesthetic features.

• Glass shape
• Color and size of the martini glass
• Style and thickness of the glass
• Setting in which the glass is used ex. Art exhibit
• Sponsorship of the event in which martini is used
• Free distribution of the glasses

Summary

Martini glass logos are a form of advertising that may or may not be conducive to a particular company's marketing objectives and brand image. Specific demographic groups are more likely to be influenced and/or persuaded by martini glass logos than others. The objectives of martini glass logos should be clearly defined and identified prior to ascertaining the forecasted benefits of their use. 

These possible benefits can be determined through market research. Market research in tandem with corporate strategy an goals can help establish feasibility, parameters, features and distribution of the martini logos in concept before implementation of the actual advertising campaign, thus reducing possible risk to the company's objectives and advertising goals.

Saturday, April 2, 2011

How Businesses Show Customers They Care

Customers are an important part of any business; this makes ways to increase customer lifetime value necessary for sustainable profits within a static market. In fact, customers are so relevant to business that Customer Lifetime Value (CLV) is studied repeatedly in business programs and publications such as the Harvard Business School Publishing Corporation.

Source: U.S. Navy; PD-USGov

Even in a growing market it is a good idea not to forget the value of customers and what they mean to bottom lines. Showing customers you care is one way to help build a customer's perceived value of a business that contributes to a business's intangible value. In some cases, CLV is even measurable as demonstrated by the Harvard Customer Lifetime Value calculator.(1)

• Loyalty benefit programs

Loyalty benefit programs show customers you care by demonstrating recognition of their role as repeat clients. This helps build the B2P or Business to People relationship. Without loyalty benefit programs the chance of losing business to competitors increases.

• Personalized service

Impersonal communication with clients either means a company is too large for personal relationships or doesn't care about its customers. Large companies don't always maintain personal relationships because they believe utilizing human and financial resources in this way becomes statistically non-optimal.

• Improved customer service

Customer service creates impressions that last with consumers. Even if a company's management is impeccably ethical, this does not mean its employees are. Quality control of customer service helps ensure clients are receiving the service they pay for.

• Dispute resolution procedure

Few companies are likely to not experience disagreements or even litigation with clients. Reducing both these things can be assisted with a customer dispute resolution procedure. This type of process, if effectively designed and implemented, shows customers you care and may avoid costly legal proceedings or lost business.

• Referral incentives

Referral incentives are cheap to implement and therefore accomplish two objectives. First, effective referral incentives reduce the need for a costly marketing and sales campaign and secondly, it shows customers you care by offering incentives for a service those customers may have provided free of charge anyway.

Every business is different as are their customers. Showing customers you care involves understanding your customers' needs and that you value their business on a continual basis. Depending on the business environment, products or services, and customer beliefs, some methods may be more effective in showing customers you care than others.

Additionally, not all attempts at showing customers you care may be profitable individually or in aggregate. This makes an accurate assessment of company resource uses managerial and employee resources weighty part of business management.

Sources:

1. http://bit.ly/4QjPrf (Harvard)

Tuesday, March 22, 2011

Guide to effective advertising and marketing

Good marketing and advertising takes effort, know how, financing and research. These ingredients are as essential as flour, yeast, water and heat are in making bread. To think you can get by with one or two of these ingredients is fooling yourself as the market is competitive and to compete positioning is essential. This doesn't mean the ingredients have to be huge, just there. Small marketing can be as effective on a smaller scale if its done right. Below are a few tips on getting started, maintaining momentum and keeping existing clients.

• Be Pro-Active in engaging current and future clients
• Know your market inside and out and around
• Have a product or service worth buying
• Involve your company in the community

These are just a few of the more intuitive approaches to marketing and advertising. There are also marketing principles, marketing theory and marketing analysis. While these are all useful and fall into the 'know how' category they aren't stand alone methods. A few of these principles are the following:

• The 4 P's of marketing (Place, product, price and promotion)
• Brand Equity
• Customer Life Time Value
• Target marketing and Niche marketing
• Primary and Secondary Research techniques
• Persuasion

Marketing and advertising is thus a multi-dimensional field that changes as people and people's needs change. Add to that a highly competitive environment in which other companies try to out think, out sell, out produce and out expose one another. Staying competitive involves continuous effort and devotion to the marketing and advertising effort. Staying competitive is another dimension of Marketing and Advertising that takes ability and capacity. Specifically it is good to keep abreast of a few important factors in addition to following the techniques listed above. The most important of these is innovation.

Innovation

Innovation is what keeps a company alive, it brings new life to the corporate world, new revenue, and new ways to grow. Think Apple, Toyota, Grameen Bank, Boeing and many other companies that's future has depended on innovating existing products by making them better or more differentiated in some way.

Financial management and corporate communication

Effective corporations communicate needs and problems between departments and work together to solve problems. Shying away from difficulties and/or brushing them under the carpet so to speak doesn't solve problems it allows them to fester and grow. The Japanese call this approach Kaizen and it works to improve morale, efficiency and productivity. Team work is at the core of this method and that doesn't mean selling your soul to a company it means actually working for a company rather than a paycheck. After all, if you're at work, why not work in a pleasant atmosphere that benefits and faces problems rather than avoids them?

Additionally, since a corporation is at in a major way a financial vehicle with financial motives, these motives should not be ignored. Working within a budget is fair so long as it allows the above methods and principles to be followed. This can involve some pretty tough negotiating and possibly some heavily weighted consultants. However, with team work consultants aren't always needed and the money spent on them can go to more advertising.

Advertising and Marketing well is an art and a corporate lifestyle. It is different from other divisions of Business because it is in many ways the face of the company and the truer this image is to the actual business the more possible it is clients are likely to see a company as genuine. This is so as advertising that doesn't reflect actual corporate operations can be perceived as phony and can turn some clients off a product or service for life.

Customer service

Good Marketing and Advertising also involves strong customer service. While this is not the field of Marketing and Advertising it is very much related and relevant to the process as customer service agents are often the first communication a client as and you know what they say about first impressions. The same may hold true to second, third and fourth impressions. In other words, keeping clients happy if something goes wrong, knowing what makes them happy and developing new ways to make clients happy without being totally unreasonable to corporate objectives is key to steady revenue, and customer loyalty.

All this said, the real challenge of Advertising and Marketing is actually doing it. Many things are easier said and done, but not impossible. Starting small is always the first step in learning how to walk in the World of advertising and marketing.

Sources:

1. http://www.helium.com/tm/535927/there-types-styles-marketing
2. http://www.helium.com/tm/533690/niche-marketing-different-arguably
3. http://www.valuebasedmanagement.net/methods_kaizen.html