Thursday, November 20, 2014

Announcement: Social Biz Guy Virtual Connection (Mentoring & Coaching)

You asked for it! And I've listened.

I am proud to announce that I am launching a new service that will provide mentoring and coaching for people interested in how to get value out of social media. This is being done through a virtual community and is powered by the IBM Smartcloud.

As an introductory offer, the first 20 people to email about joining will get a free one year subscription, valued at $600.  If you would like to take up this offer then please email NOW!

Monday, November 17, 2014

How product mash-up's are causing disruption within traditional consumer markets

A few years ago I started to hear of a term called “mash-up's”.  As I have spent most of my career working in Information Technology, this term typically referenced a web page or application created by combining data or functionality from different sources.

More recently, the term “mash-up's” has become more popular. The term is also applied to the likes of music. On YouTube you can find many music videos where two or more songs have been skillfully and craftily combined into one.

Yesterday, after enduring 60 minutes of HIIT (High Impact Interval Training) I took a shower. On a recent trip to the shops, my wife got me some new shampoo. While it was my usual favorite, Head & Shoulders, I noticed a small difference, it also included a scent of men’s perfume, known as “Old Spice”. These two different companies came together to build a product, a “mash-up”.

One of my favorite chocolate bars has to be the Whittaker’s Peanut Slab! Here in New Zealand we are also spoilt with a drink known as Lemon & Paeroa. Both Whitakers and Lemon & Paeroa got together to put a drink into a white chocolate slab. Again, another “mash-up”.

I’ve also seen another “mash-up” between Lewis Road Creamery and Whittaker’s that has lead to one of New Zealand’s most coveted chocolate milk drinks, known as Lewis Road Creamery Chocolate Milk. Often shops limit the purchase of this product to one per customer. Happy customers are posting photo’s on Social Media.

Out of old products, new products are being created! Each company is able to take advantage of cross-brand customer loyalty. There seems to be a refreshing buzz amongst consumers where the idea of product “mash-up's” appears to be gaining in popularity and success.

This is not whole lot different to the idea of traditional business partnerships.   However, they have the ability to create disruption within traditional markets. However, I do ask the question, is the Head & Shoulders/Old Spice “mash-up” meant to be a time saving tool?

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Monday, November 10, 2014

Spark (Telecom) refuses to take cash payments

It was with interest that I read an article about a man going into a Spark store to pay his telephone utilities bill whereby the store refused to take cash as a payment. What interested me the most about this was my 80 year old father-in-law running into the same situation a few weeks ago. Even if he went to a NZ Post store, he could pay by cash but would incur an additional handling fee.

I struggle getting my head around how businesses operate in this fashion, especially when the telco's are finding their industry to be so competitive. Just last week both Spark and Vodafone NZ announced the need to lay-off significant numbers of staff (significant for tiny little New Zealand).

When my father-in-law shared his experience with my wife and I, the first thing we said was "leave". It would appear that my generation has little or no tolerance for this sort of behaviour. If we don't like something, we know that we have a choice and therefore we look elsewhere. With our ability to access the internet, we can reassign our services to other utilities company with minutes.

The problem is that for people like my father-in-law, he has been a loyal customer of Spark right through several buyouts. From the good old days of Spark being a state owned enterprise known as NZ Post, then Telecom and now known Spark (a rebrand). Now, he has trouble adapting to change as almost everything becomes electronic. This is the man who has a mobile phone that rarely leaves the kitchen bench! He once had a computer at home to play solitaire, but as with all great technology that didn't last for ever.

Like most of our friends, my wife and I have next to no tolerance of bad service or things happening that we as customers don't like. We always weigh up the pro's and con's of taking our business elsewhere and sometimes chose to remain as an unhappy customer. Even with the variety of options, often there is no good alternative.

I have reviewed a lot of research over the last couple of years that would suggest that one of the top 5 key priorities for the CEO (Chief Executive Officer) is to increase customer loyalty. What I am seeing on the consumer side of the equation is that consumers don't provide loyalty when they don't feel that loyalty is returned.

While Social Media is a great platform for people to make buying decisions, so is the ability to have real-life interaction. When it comes to making a buying decision, a negative review may/will determine a positive or negative buying decision. Big deal, right? The bigger deal is an existing and loyalty customer sharing a bad experience. Younger generations, like mine (who are not so young any more) are actively encourage the loyal customer to take their business elsewhere. The loyal customer is persuaded or even pressured to make a move.

The majority of comments here on my blog, talk about customer experience. It's something that I am passionate about.  We need to be listening to our customers and we need to ensure that it is easy for our customers to do business with us. It doesn't matter if we are B2B or B2C. What does matter is that we provide an exceptional service from start to finish and thereafter if need be.

Another key priority for most CEO's is to increase customer engagement. Better customer engagement generally leads to better sales. Let's put the two together shall we, better customer engagement and customer loyalty must be a great concoction!

If Spark are to invest in having retail outlets then they have an opportunity to engage with their customers in person as they walk into a real-life store. They have the can to talk to them about their needs and to help them to find solutions. Also, known as 'sales'. The cost of selling something to an existing customer is a lot lower than trying to acquire a new customer.

Photo provided under (cc) license by Abaconda Management Group

Tuesday, November 4, 2014

Account management and planning plays a big part in social selling

Today, I was involved in a discussion on Twitter using the #sshour hashtag. It was probably one of the most successful chats I've seen on Twitter. It wasn't until the end of the conversation that I actually found that it was part of an online Google hangout. The topic was around social selling.

As per one of my most recent blog post, I talked about the need to build relationships through social media rather than using social media to reach the masses. As part of the conversation there were some comments made about using employees to enable a far greater reach. If you're wanting to play just a numbers game, this may well be the way to go. However, if yours is not a numbers game then the following should make sense.

In my career I have worked on large enterprise deals and in some cases smaller deals. These deals have all required a significant effort when it comes to building relationships. As part of annual account planning activities I have had to identify who the people are within the account that I need to reach and build a relationship with. These people could be within the account that I'm targeting or they could also be external influences of that account.

I then aim to target those people by building a relationship. By knowing who those people are helps me to prioritise the use of my time, not only in the real world but also through the use of social media. I am inclined to find out where they hang out. Once I have been able to do that I will look to add value to the community or I will look to join conversations. By adding value to a community that my prospect or customer belongs to, enables me to become noticed by my customer if someone they can trust.

Recently, I have been building a relationship with somebody in recruitment for one of New Zealand's largest banks. One of his social media profile pictures shows him holding a large kingfish that he has caught. As I am also a keen fishermen, this has allowed me to enter into a conversation with him about fishing. Obviously, this has no direct relationship to what I am selling, however it has allowed me to build a really good relationship with him. Almost every time he sees me post something about my fishing experiences, he adds a comment.

This weekend, he went fishing on a charter boat and caught a snapper. He then sent me a photo of the snapper via Twitter. He is now sharing information with me that is completely unsolicited, but very welcome. It is great to think that he feels that he can brag to me about his day fishing.

Now that I have a relationship, with this particular person, it is easy for me to talk to him about what I am doing and how I can help his business. We have a common respect for each other which can only come about through good relationships.

Depending on the type of business you have, this approach may not be the best approach. If you have something that is highly transactional then maybe it would be a good idea to play the numbers game, rather than the quality relationship game. 

One thing to keep in mind, is that over the last four months while I have been building this relationship, I've not tried to sell him anything. Because we now have a relationship, when he has a need I am sure that I will be his first port of call if he thinks I'm able to solve the need.
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