Watch Out for the InfoFrenzy
Welcome to the InfoFrenzy-where customers are customer service vigilantes using the Internet to publicize positive and negative experiences and investigate the brand and corporation behind the product. Genuine consumer comments have replaced the Better Business Bureau or Consumer Reports as a reliable source for brand comparison. Anyone with a modem and a blog represents a potential public relations disaster.
Customers have access to more information than ever before. You don't have to take the word of the hourly salesman at Circuit City. Now, Circuit City has user reviews on its website to compare against Consumer Reports and the entire blogosphere. As consumers develop negative and positive associations with companies, they're starting to share those personal experiences online. There are 1,460,000 entries for "Sprint sucks," on Google. That's a lot of sucking to try and overcome.
Companies need to recognize this trend because you can't escape consumer advocacy websites like The Consumerist. Consumers want the corporations they purchase goods or services from to have values that align with their personal vision for the world. They need to respect your brand. Respect stems from a commitment to transparency and consistency. Say what you are going to do and then make sure you do exactly what you said. Along the way, try and update people on your progress.
Think of business growth as personal growth. Everybody loves a good growth story, especially Wall Street. But just like the marketplace, you better live up to the expectations of your shareholders and partners because websites like the Mark Cuban-backed Sharesleuth will be scrutinizing your financials and filings with the SEC. And it's your share price that will suffer if you're caught with your hand in the cookie jar. Options backdating ring a bell?
By offering a consistent message, you can prove that your values match those of your customers and investors, and you're going to need that for when you make a mistake. So when somebody like Vincent Ferrari posts a series of blog entries about the terrible customer service they experienced along with an audio recording, you will have defenders. Otherwise, you'll be in trouble like AOL was recently. Ferrari's trials with AOL were picked up by nearly every major news source and his story was told everywhere from the New York Times to the Today Show. All because one customer service representative failed terribly at his job.
Businesses are beginning to be cognizant of the shift in how brands are viewed. They have outposts on MySpace and in Second Life, securing friends in the virtual world, and being good corporate citizens in the real world. The smart companies are learning that you have to embrace the expectations of the marketplace and establish relationships with consumers. They feed the frenzy by consistently providing information in a truthful manner; empowering customers to become advocates for their brand.
Don't be afraid of the InfoFrenzy, it's the strongest way you can connect with customers today.
Companies need to recognize this trend because you can't escape consumer advocacy websites like The Consumerist. Consumers want the corporations they purchase goods or services from to have values that align with their personal vision for the world. They need to respect your brand. Respect stems from a commitment to transparency and consistency. Say what you are going to do and then make sure you do exactly what you said. Along the way, try and update people on your progress.
Think of business growth as personal growth. Everybody loves a good growth story, especially Wall Street. But just like the marketplace, you better live up to the expectations of your shareholders and partners because websites like the Mark Cuban-backed Sharesleuth will be scrutinizing your financials and filings with the SEC. And it's your share price that will suffer if you're caught with your hand in the cookie jar. Options backdating ring a bell?
By offering a consistent message, you can prove that your values match those of your customers and investors, and you're going to need that for when you make a mistake. So when somebody like Vincent Ferrari posts a series of blog entries about the terrible customer service they experienced along with an audio recording, you will have defenders. Otherwise, you'll be in trouble like AOL was recently. Ferrari's trials with AOL were picked up by nearly every major news source and his story was told everywhere from the New York Times to the Today Show. All because one customer service representative failed terribly at his job.
Businesses are beginning to be cognizant of the shift in how brands are viewed. They have outposts on MySpace and in Second Life, securing friends in the virtual world, and being good corporate citizens in the real world. The smart companies are learning that you have to embrace the expectations of the marketplace and establish relationships with consumers. They feed the frenzy by consistently providing information in a truthful manner; empowering customers to become advocates for their brand.
Don't be afraid of the InfoFrenzy, it's the strongest way you can connect with customers today.
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