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People Try to Put Us D-Down, Talkin’ ‘Bout Your Reputation...

CRM Mastery, Inc. People Try to Put Us D-Down, Talkin’ ‘Bout Your Reputation. Jim Berkowitz. CRM Mastery Founder & CRM Technology Coach CRM Technology Analyst Digital Marketing Consultant & Educator. Buying has Become a Social Process.

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People Try to Put Us D-Down, Talkin’ ‘Bout Your Reputation...

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  1. CRM Mastery, Inc. People Try to Put Us D-Down,Talkin’ ‘Bout Your Reputation...

  2. Jim Berkowitz • CRM Mastery Founder & CRM Technology Coach • CRM Technology Analyst • Digital Marketing Consultant & Educator

  3. Buying has Become a Social Process Social media, review sites and mobile computing is changing the way people buy. “Negative reviews do affect purchasing decisions and can reduce sales.” Marketing Professors Duncan Simester, MIT & Eric Anderson, Northwestern

  4. So, “Online Reputation” is Not a Buzzword 61% of customers read online reviews before making a purchase decision. But Marketers are continuing to overemphasize Paid & Owned Media 70 - 90% of digital budgets are still being spent on company websites and awareness building.

  5. Need More Stats? * 50 or more positive reviews can mean a 4.6% increase in conversion rates.Reevo * 63% of customers are more likely to make a purchase from a site with user reviews. (iPerceptions, 2011) * Site visitors who interact with both reviews and customer Q&As are 105% more likely to purchase while visiting, and spend 11% more than visitors who don’t interact with UGC. (Bazaarvoice, Conversation Index, Q2 2011) * Consumer reviews are significantly more trusted (nearly 12 times more) than content from manufacturers. (eMarketer, February 2010)

  6. A Mindset Shift is Required

  7. Who’s Listening & Responding? To be successful with reputation management, you’re going to need best practice processes for gathering information, identifying its relevance, understanding the sentiment and most importantly, deciding if, when, and how to respond. Real social media intelligence is the combination of technology and expert insight by knowledgeable people.

  8. Start By “Listening” Successful listening programs will uncover how your customers and others perceive your brand and could help you to identify the extent to which you’re delivering on your promises. “If you want to be successful in your business and with social media in particular, you’ve got to start by listening.” Wim Rampin

  9. Start By “Listening” When customer experiences are out of line with customer expectations — they become increasingly likely to opine.  So be sure to listen for compliments, complaints, problems and unmet needs. As you implement your listening program, you just may also uncover suggestions for making improvements to your business, products and services.

  10. Start By “Listening” • You simply must be scouring the web for (at a minimum) the following.... • Who’s saying what about my business (or brand) and how influential are they? • Is what’s being said about my business good, bad or indifferent? • What appears to be triggering negative comments or reviews?

  11. Start By “Listening” • Where are my customers posting things about my business (what Apps and websites) • How complete and accurate are my listings in the various online directories and review Apps? • What’s being said about my competitors (how does my business compare or rank against others?)

  12. Interpreting What You Find Generating New Leads – You need to be on the look out for people who are, or might be, interested in your products and services and appropriately engage them.

  13. Interpreting What You Find Brand Reputation – Comments about your business and its products and services can help you to get a handle on how it’s currently perceived and how customers rate you versus your competitors. 

  14. Interpreting What You Find Crisis Management – If there’s a negative conversation swirling around about your business or brand you not only want to know about it, but you want to be able to respond, when appropriate, to prevent and mitigate any further damage to your business’s reputation.

  15. Engaging with Prospects & Customers Engaging successfully requires making sure the right people in your business are aware of it and finally, that each item requiring engagement is responded to appropriately and on a timely basis. To do this successfully, you’ll need to have a plan in place outlining how to react to each type of comment that arises – especially negative comments

  16. Engaging with Prospects & Customers Customer Engagement - It is usually best to have one person, or a small group of people, take charge of reacting to negative comments.  It is also a good idea to react to positive mentions. A quick ‘thank you’ can go a long way. It shows that you care about your customers and listen to what they are saying, and it can be a great way to improve brand loyalty.

  17. Responding to Negative Criticism First: Decide IF you should respond. If someone is trashing you and their comments seems ridiculous and unreasonable then DO NOT respond.  Nothing good will come of it. “Unless the person is truly nasty and it’s clear there’s no room for productive conversation, in most cases you should indicate your desire to resolve the situation (offline) as soon as possible.” Michael Fertikm CEO Reputation.com

  18. Responding to Negative Criticism Second: Respond Quickly - Don’t wait, the problem could get worse. Third: Avoid a Show of Force - Apologize and show that you are addressing the problem. Fourth: Empower Your Team - With the right tools, guidelines and opportunity, your employees can be a great resource. Fifth: Treat Your Team Well - Unhappy employees will create unhappy customers.

  19. Enabling Technologies

  20. Enabling Technologies Social Media Monitoring

  21. Enabling Technologies B2C Reputation Management

  22. What About ROI

  23. What About RONI What is the potential cost of not investing in reputation management? 1. Misunderstanding customer expectations 2. Negative comments about your business reach the top of search results and review sites 3. Your business or product reputation is ruined or severely damaged.

  24. Key Takeaways * The buying process has changed and you must change with it. * You no longer control your brand message; so, reputation management is no longer an option, but a requirement * You’ll need to develop “best practice” guidelines and policies for listening, analyzing and engaging prospects and customers * Pick the right technology to support your reputation management processes.

  25. CRM Mastery, Inc. Q & A

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