Unless your customer is a chicken, and you are a “certified chicken hypnotist”, perhaps this type of focus group would not be your first choice for gaining valuable insights from your customer base. Besides, there are many more avenues and tools that are sitting right there at your fingertips which are much more accessible, more accurate, and which do not require anybody to fall asleep, cry like a baby, or to peck at corn.
One method of gaining these insights is via your data. Data (also known as Big Data) is everything. It’s the supply chain information about the next big shipment coming in. It’s the trends your customers live to keep up with. Even you are data, insofar as your wants, “Likes,” and even purchasing history make up a single node in a vast ocean of actionable information. Think of Big Data as that ocean, and it’s your job to make the right connections with the right tools while your midsize business navigates those high seas. IBM, for example, excels at this type of application and you can read one case study here. I am going to call this “hard data” but, what about “soft data”? How about “social insights”?
Soft data is obtained by engaging with your customer base on more personal level. For our conversation today we will focus on discovering these insights through the deployment of social media applications and techniques. Much of this soft data can be uncovered prior to any purchase as opposed to data that is gathered as a result of making a purchase. Both have equal value.
We must first understand how our buyers, and their behaviors, have changed. They are more sophisticated, more informed, and more savvy than ever. The advent of the internet has allowed them to access volumes of product information and they are consuming this research at a ravenous pace. In fact, some say that up to 75% of buying decisions have already been substantially made prior to even contacting a vendor.
Whereas in previous years a customer might rely on a company or its representatives for product information. today, in addition to what facts can be found on the internet, they are speaking to somebody else … their friends. Even when a friend or colleague cannot be found as a source for particular reference, they are seeking advice from friends of friends or just from plain folks like them who have had some experience with this product or service. Everybody also knows that any “customer testimonials” that a company will publish will undoubtedly be positive. What you will find on the internet may very well cut both ways … good and bad.
As a business, you not only need to place yourself in a position to be able to monitor these discussions, you must also be ready to respond to each in an appropriate manner. If you were to tell me that “But, we aren’t even on social media!”, I would respond … “You probably are but, you are just not aware of it.” You have to be there in order to hear what others are saying.
Your goal must be to be a part of these conversations. This means that you must listen first and then be willing to engage with others by way of asking questions and by providing answers. You are responsive to expressed needs. This is how relationships are formed. If this sounds a lot like real-life, that’s because it is. Social media, social networking, follows the same real-life rules but deploys different tools to do so. Let’s take a closer look.
Listen – There are many tools that will allow you to listen and monitor social conversations for mentions of your product and/or your brand via keyword searches. Some will even gauge whether the tone of that discussion is either positive or negative. There are some very sophisticated solutions available for enterprise level businesses but, for SMB, I might suggest either HootSuite or SproutSocial. As an application class, these are commonly referred to social dashboards and they will allow you to monitor the big 3 social networks (Twitter, Facebook, LinkedIn).
Engage – These same social dashboards will also allow you to engage directly with those in your networks and, in many cases, even with folks who are not a part of your personal formal network. Engagement would include just about all aspects of anything that you might associate with a conversation. Other wonderful places to engage with your customers would include your business pages on Facebook, LinkedIn, and on Google+ and specific groups, or communities, that you can form on each.
What makes these locations so powerful is that they are specifically designed for conversations regarding your company and your services and they are easily monitored. Furthermore, folks who like or follow your pages are likely your best customers otherwise they would not have opted in to your message in the first place. Facebook also provides powerful “insights” for page administrators.
Respond – Previously I mentioned some of the ways that buyer behaviors have changed. I left one out. Their expectations, and specifically of you, are higher than ever before. They have learned that, when they cry out on the social networks about a problem they are having with a product or service, smart companies are there to respond. The result of this is that they expect all companies, and once again that includes you, to respond and to respond quickly and appropriately. If you choose not to respond, or are not even aware of this conversation, where does that leave you? Let’s just say that you don’t even want to go, or be, there.
Please also keep in mind that it is equally important that you respond to, and even reward, folks who are saying nice things about your company or services. This is how you will build “brand ambassadors”. Your customers would love to be viewed as a part of your team and when somebody inquires about your product or service, whose experience will carry more weight with potential buyers? Will it be yours as the vendor or that of a satisfied customer? We both know the answer to this question.
Question – Of course, it is always great to ask good questions! Your ability to do this is likely a valid indication of your listening skills in general. You can question to clarify or how about just asking your customers how they feel about your product or service? What do they like about what you offer? How are they using it? Have they discovered any unique uses? What might they wish to see changed or improved? What competitive products or services did they also look at before deciding to invest in yours? Why did they settle on your product or … what made them go with your competitor? Polls can be created in Facebook and LinkedIn groups and also on Facebook events. Polls outside of these networks can be created with free tools like SurveyMonkey.
Answer – When folks have questions, or express concerns, you had better be ready with some answers. I might also add that whoever you have assigned the task of responding to these opportunities had best be trained to do so properly. The last thing you need is to have a customer with a concern, regardless of whether it is valid or imagined, and you have an individual who is going to throw gas on that fire rather than to calmly and rationally resolve the situation! A subset of “answers” would be to also “inform”. Talk about how some are using your products and services and suggest that your other customers might try these tips also. Announce new product introductions or, even better, ask your valued customers for help in designing your next offering!
Big Data and Soft Data. That’s a winning combination that will allow you to fully understand the how, why, when, and what your customers buy! What might this mean for your business?
This post was written as part of the IBM for Midsize Business program, which provides midsize businesses with the tools, expertise and solutions they need to become engines of a smarter planet. I’ve been compensated to contribute to this program, but the opinions expressed in this post are my own and don’t necessarily represent IBM’s positions, strategies or opinions.
Craig M. Jamieson
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