Wednesday, 28 October 2015

How can customers decision influence company’s decisions?

A company is nothing without customers. Companies make products or services for selling it to the customers and earning profits on that basis. Modern customers are very intelligent and they exactly know what they want. You can reach and communicate with your customers through various means like messages, calls or social sites but there are a few key things that influence the customer’s purchasing decision which in turn influences the company.
  1. Detailed information should be provided : The product’s details can be a real deal cracker. Using photographs or videos of the product gives a better idea to the customers about the product. Allow the customers to make full utilization of the information provided by you.

  2. Answer the questions : To build customer loyalty and engage deeper with them it is important to stay connected to them. Use of ‘how to’ videos and answering through different pages could be a great support access and bring interactive experience to your customers.

  3. Provide real life examples : Surprises could be helpful for you. Including lifestyle photos, videos or audios could provide a story about how the products work and could be useful for the customers.

  4. Provide access to reviews : Customers always look forward to recommendations before purchasing a product. Other customers’ reviews do affect their purchasing decision. Provide access to customers to other’s reviews to help them in their decision making.

  5. Allow sharing of product details : If you want to promote your products effectively and instantly then this could be a great option for you. Include a share option on your product allowing your customers to become advertisers for you. A share by a valuable customer could be of great importance for you.

  6. Cross communication : To enhance your brand’s reputation and to build up trust from the side of customers show articles or other news or comments on the page of your product related to it. Also showcase other accessories or products related to your products. Relating links could be of great use.

  7. Tracking purchases : If you are worried about keeping a track of sales then leave your worries behind. Interactive platforms have developed a sense of awareness among the potential as well as paying customers. You can keep track records from the time of initiation to sale. Collection of such data helps the marketers to improve the shopping experience for their customers and personalize it better for them.

  8. Keep customers engaged online as well as offline : Marketing doesn’t work out itself. If you want to keep loyal customers then keep them engaged online as well as offline. The basic idea behind this is to understand your customers’ emotional connection with your brand and act upon it.

Sunday, 25 October 2015

Why should customer participate in company's decision ?

A Customer should be the part of company's decision because the product is for customer and if there is any need and want which is lacking from customer’s point of view then it will be solved soon

The decision making process is a more circular journey, with four primary phases representing potential battle grounds when marketers can win or lose: initial consideration, active evaluation, or the process of researching potential purchases when consumers experience them...

What makes consumers 'STICKY'? That is, likely to follow through an intended purchase, buy the product repeatedly, and recommend it to other. We looked at the impact on stickiness of more than 40 variables, including price, costumer's interaction with the brand. The single biggest catch, by far was 'decision simplicity' the ease with which consumers can gather trust worthy information about a product and confidently and efficiently weigh their purchase option what consumer want from us (MARKET)(COMPANY) is simply, SIMPLICITY

Usually company face two practical challenges

First: How can they detect where a given consumer is on the purchase path and what information she/ he most needs?

Second: How can they ensure that consumers they target are satisfied with their services?

Rather than pulling customer into a fold, marketers are pushing them away with relent less and ill conceived efforts to engage. So, for the better result a consumer must be in fold of a decision making of a company for best output of the company. This will lead the company to success and that can be done through the participation of customer in company’s decision because who actually buy your product are your actual credible users.

What all is needed by the customer from your services will be known to you through the participation of them.

Why companies agree at giving consumers what they want? Also help consumers participate in decisions of the company?

It seems like they are resisting the facts. The more information you provide, the better you can persuade the customer.

Once business finally discovers more information isn’t always better position you to influence purchase decisions. One should stop focusing on inundating the consumers with mindless content and focus on simplicity and genuine content.

If consumers are the point of decision making then a company can reach simplicity. The more concise you are the greater success you'll achieve.

Saturday, 24 October 2015

What are the issues that a small business has to face?

Being an entrepreneur, opening up a business and thinking of new and different concepts are really hard and complicated tasks to perform. There are many small businesses that exist in the industry (especially in India) which helps people to earn some means of employment which is essential for such a big population as in India. Like any big business chains even the small businesses have a wide range of problems that they have to face and overcome for their growth and success.

  1. Accumulation of capital : One of the foremost and the biggest problems faced by small businesses is the generation or accumulation of sufficient capital for smooth running of its activities.

  2. Less investment leads to less growth : For the growth of any business, capital and investment is the most essential and important factor. When more investment is available to any business then it shows that more people believe in the company and it acts as an incentive for the workers which lead to better output and increase in growth.

  3. Competition is high : When a company sets foot in an industry then it already does a complete research on the prevailing companies and their strengths and weakness which helps it to understand its competitors better. In the present scenario it is very difficult to find and enter in an industry where you get a monopoly of your own. Competition is very high and so the company’s strategy needs to be developed with great intelligence.

  4. Identifying the buyers : When an entrepreneur thinks about setting up a business of specific products or services then the first thing that comes to their mind is the target buyers. Identifying the buyers is an essential task to be performed for sustaining in the market and keeping customers happy.

  5. Lack of technology : Technology has proved to be a blessing to the present market scenario. The small businesses are not able to connect to their customers or get their feedback because they lack technology and even the knowledge about it. It is important to be in touch with technology for such industries because it provides a platform to such people to connect directly with their customers, get their positive and negative feedback and expand their business.

Solution :
There are many things that can be helpful to small business operators to help them connect with the society but the biggest help is provided by technology. Technology has evolved at a greater level and many online websites or web portals have been developed which provide a platform to the entrepreneurs to directly communicate and connect with customers and promote their product at a wider level. These portals do marketing for the company.

Friday, 23 October 2015

Why is it important to connect with your customers ?

For a layman, Business is all about buying and selling. But for marketing professional, business concerns a lot more- making profits along with maintaining a humble rapport with the customers, who bring about sales with in turn keeps the business afloat. However, with trends such as automated product ordering gaining widespread acceptance, businesses are losing the interpersonal touch they had with their customers. Such trends are creating many challenges for businessmen in maintaining a customer interaction. Some of them are :

  • With fast evolving technologies cropping up, businessman find it tough to keep up pace.
  • Loss of focus on the actual needs of customers.
  • Failure to locate a specific target group.
  • Wastage of time, money and energy in trying to convince rather than identifying.

The importance of customer interaction and satisfaction lies in the fact that communication bridges the gap between vendors and customers, who will in turn understand customer demands and will eventually cater to their satisfaction, hence helping the business to flourish. Customers like to be listened to, which is one of the reasons why companies nowadays launch open forums, where people can discuss about the product and give feedback's or suggestions. In return we get valuable inputs on ways to develop product and eventually gaining consumer acceptance. Getting feedback's from customers is very important as it highlights consumer requirement thereby enabling better services.

Ways of creating a strong interaction with customer :

  • Show that you care
    For the start of any relation, the first step is knowing and making the other person realize that you care. When customers get such vibes from you, it leads to the development of a certain level of trust which is very crucial.
  • Pay attention
    Rather than trying to gain a broad audience, try to identify target groups, who are in need of your services and will be interested to harvest them
  • Social media and online communication
    The role of social media irrespective of field needs no introduction. As mentioned earlier it provides a platform for customers to discuss or communicate about the product, thereby giving them a feeling that their opinions matter. And in return helping the manufactures know the specific needs of their customers. With the rise of blogs and sophisticated search engines, understanding consumer needs is no longer a humongous task
  • Communication
    Active interaction (notifications through SMS or e-mails) is the key for the success of any large or small scale start-up. Giving customers such easy access aids in building good business ties.