Social Media & Customer De-light ( P-light )

"Focus of most marketing spend is usually around new customer acquisition and that only 20% of marketing budgets are typically spent on retention. Yet, in many cases, 75% of revenues comes from existing customers." (Book : Flip to Funnel)

Wow! Customer Xperience is NOW more relevant in times of powerful Social Media. Words Spreads with electrifying speed and across d globe - Good or Bad. 

Channel your marketing budget to existing customers. Wow !! them , delight them, offer them memorable experience, offer them something to speak (write) abt on social media online and offline. 

Every wants to share their experiences. Social Media is providing them many such platforms.Are we providing them enough (any) food for thought abt what to write/share with their friends, followers and group members ??? If we are not , customers have their own opinions. They will share.

Every customer is also a publisher. (FB, Tweet, U Tube , LinkedIn , Blog) Any clue what to do to get ur offerings published?

(Next coming up with my ebook on hOw to wOw!!!!)

U are not DEAD , but are U Dying in EMI !!! Wake up and Wake yr Boss up

People are dying from job related stress. Actually dying or moving fast towards death 

with diseases like stress related diabetes, cardiac problem, high blood pressure etc. 

(DEAD: Raghu Pillai of Future grp, R Ravimohan of Reliance, ex CRISIL, Ranjan Das of SAP, Dewang Mehta - NASSCOM are the known examples & DYING : Most of us)

Unfortunately the pace at which economy (due to technology) wants us to react is so fast that human species will take time to adjust. Like the versions of the IT products we also need advance versions of  people who can take on the technology and can react and move at speed of thought. I am not talking abt development of technology but the speed at which things in the world happens due to sophistication of technology is the KILLER.

Technology is just a one part, problem with CAPITALIST society is that Capital is d only measurement of success.All our measurements of success surrounds CAPITAL. ROI, IRR, EBIDTA, EPS, ROCE, PBT , EVA and that's it. Failure or success is defined by these figures. PERIOD.   

  

Which company actually measures stress or happiness of the employees , suppliers (Quick deliveries and delayed payment) & customers on an on going basis and actually work towards improving the happiness and lowering the stress? No Annual Reports talks about people's happiness or customers happiness due to the existence of the enterprise.  People talks about triple bottom line (one each for Shareholders, Society and Environment).We have regulator like SEBI and minister like Jairam Ramesh so two of the three are looked after to some extent (environment reporting is negligible).  Society incl people (HR) and customer influenced by the Enterprise is invariably ignored. 

Companies in the US like Zapoos is one of the very few who has taken up HAPPINESS as an objective of their existence and they are working on delivering happiness not just to their customers but to people across the globe. 

Unless the focus changes things will not change. Unless  we care abt the people more than the shareholders  things will not change. Unless our annual reports are driven by people, customers and society at large than by Companies Act things will not change. Which company will wake up first??  Infosys did it once on governance and reporting transparency.  
Who will take the lead this time? Are we not extremely conditioned!!!

Caution before U Commence !!!!

Never ever start any project without financial closure. Short term approach that lets manage till we need additional money invariably will puncture (Cost and time overrun, cost of finance will go up in a emergency situation and not so well thought out decisions  in desperation) the project. 

Don't forget the lesson of 2008 crisis, take money when available and not when u need it.  You may not use the available money in full and pay interest or commitment charges , but that is a better scenario than no money and project suffers.

Seen this and seeing again and again. 

(Not appliable to start ups, they need to manage from whatever sources till they dilute to professional investors)

Soul is left to someone else , CEOs r focusing on BODY of Business.

Customer Experience = Marketing Job ?? Biggest Myth of enterprises of TODAY. 

Its d Job of the highest decision maker or decision making forum in d company. 

Why?? Customer Experience can be altered and made delightful by;

1) Making Offerings stand out among the competing crowd

2) Making HR more customer friendly and happier

3) Making business processes customer friendly and quicker

4) Making after sales , powerful tool to get new sales

5) Going out of the way to help customers. Its abt empowering yr people

6) Its about DESIGN. The way products /services will be manufactured and delivered to the customers. 

7) Its abt sales collateral, ad campaign, social responsibility, governance and everything.

Its a SOUL (Script) of any enterprise. How CEOs and Core Team can remain out of the DESIGNING process of Customer Xperience and leave it to CMO or CSO??

CEOs other priorities without the center focus of customer experience design are misplaced priorities. Its red ocean mind set and running away from the real issue.

Do U design and measure Customer Experience this way???

Lets start designing and measuring Customer Experience with this bench mark!!! Fantastic Focus.

19 Life Changing Books !!!

 1) Experience Economy- Pine & Gilmore

2) Re-imagine & Circle of Innovation - Tom Peters

3) Rethinking the Future - Many Renowned Management Thinkers

4) Linchpin & Small is new Big - Seth Godin

5) Delivering Happiness - Tony Hsieh

6) Seven Habits of Highly Effective People - Stephen Covey

 7) Mavericks @ Work - Taylor & Labaree

8) The Referral Engine - John Jantsch

9) Seven Days Weekend - Ricardo Semler

10) The Goal - Dr Eliyahu Goldratt

11) Blue Ocean Strategy - Kim & Renne

12) The Starbucks Experience  - Michelli

13) Working with Emotional Intelligence - Danial Goleman

14) Who moved my cheese - Spencer Johnson

15) The Professional & Go Kiss d world - Subroto Bagchi

& Of course

16)  Indian Income Tax Act and Companies Act - For not pursing & practicing the same

(Everything need not end with round figure, influence is not in the given order & not included religious books - 
Readers are welcome to share their influencers - boook or people)

I learned from MS Dhoni " "

What MS Dhoni Means to U??

Applied Learnings from his captaincy??? 

Pl share yr thoughts. 

Customer Xperience - What ?? - See how Fidelity is doing!!!

Now this is called breathing in and out Customer Experience. Elevator for Employees @ Fidelity Inv - US..

Courtesy Bruce Temkin

Why Partnership Fails!!!

1) No clear (roles ,responsibility & business) definition

2) Not knowing clear strength of the partner

3) No idea of how team can produce results which individuals can not

4) Different (Goals & Values)

5) No (large heart & attitude of leg go)

6) Attitude, ego and I (don't need ne one / I alone can do it) mind set

7) Mixing personal problems with business issues

8) Joining hands (without due diligence or for limited selfish motives)

9) Unable to accept one as a leader

Ambanis, Bajajs, Goenkas, Birlas, Mafatlals, Microsoft Partners, Salim Javed, Thackreys are examples of many many many such broken partnerships in business, politics and families. 

Mostly it destroys value, Its sad , its worthless & repenting in the long-run. Synergy is in joining hands & reverse of synergy is in separation. 

I invite readers with many more such insights for the benefits of other readers.

Your Brand Can't Survive without Customer Xperience Agenda 2011-12.

1) Appoint Chief Customer Xperience Officer reporting to CEO. A MUST. (is there ne one in charge of end to end customer experience with yr brand ??? )

2) Critically evaluate all customer touch points. Whether they create memorability in some way for the end users?

3) Have online social media team (it cud be one man) in place to gather data on customer reviews of yr offerings. Spread awareness about yr brand and address complains & concerns of the customers. (At the speed of thought and not once a week)

4) Act on negative feedback to improve offerings and promote positive feedback. (Must be a part of all review meet)

5) Encourage happy customers to share their views online /offline.

6) During the year make sure to make feel your all customer very special at least once a year. Genuinely. Have events, special price, offer free tickets, alter their opinion about how far a company can go to please their customers.

7) If u r a public company, make it a point to include customer experience initiatives and customer speak out . part of yr annual report. Have measurability and measure it every year. 

8)  Proactive , proactive and proactive to know what customer feels and think about yr brand and offerings. Do whatever it takes to find out. Spend money as customers are going to be spoke person in the market when yr company does very good or very bad.

9) Everyone is the solution business. Therefore don't just limit your efforts plainly in what u offer. Try & solve customer problem which she wants to solve thru yr offerings.

10) Try and apply everything above from TODAY. Retained customer will attract new customers. 

Whether yr customers are promoting yr brand??  If not, check out, you may be offering mediocre customer experience. No one wud like to tell others that they are consuming mediocre offerings but if they are enchanted they will go out and tell the whole world. Amitabh Bachchans, Sachin Tendlukars & Madhuri Dixits of the BRANDs have their FAN followings. Make yr brand one amongst them this YEAR.