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The Knowledge Catalyst
14 minutes | Aug 18, 2021
Customer Experience: Tips on How To Delight Your Customers To Improve Branding | Ep. 6
Episode SummaryHave you ever seen customer surveys on a website asking this simple question? On a scale from 0 to 10, how likely are you to recommend our company to a friend or colleague?" This is essentially a customer feedback question to determine how loyal a customer is to their brand. Research by a financial services company found that 86% of their loyal customers are willing to pay more for a positive experience. Alternatively, another study found that 91% of unhappy customers leave a brand without complaining creating customer churn and low customer retention rates. This data suggests the customer experience (also known as CX) creates your brand and defines customer expectations. This month we kick off a three-part series on branding. In this episode, we uncover the benefits of creating superior customer experiences, managing customer expectations, and the effect of a bad experience when interacting with your business.Key TermsCustomer Loyalty - The degree to which a consumer will continue using a product or service after experiencing it. Customer loyalty is decreased from a Bad Customer Experience whereas positive customer experiences increase loyalty.Brand Equity - A measure of the value consumers place on a particular brand. It represents the sum total of all positive experiences they have had with a brand over time.Customer Segments - Any marketing strategy should be centered on one of four client segmentation channels. Demographic, Psychographic Geographic, and Behavioral segmentation are examples of the four categories of segmentation. These are some popular ways for businesses to segment their market based on gender, age, lifestyle, and other factors.Customer Touch Point - From start to finish, customer touchpoints are the places of interaction for your brand. A touchpoint is any time a potential buyer or current customer interacts with your brand–before, during, or after they make a purchase from you. This is the main area where consumer interactions can result in a bad experience or can create loyal customers.Customer Experience Metrics - The Client Experience Metrics play a key role in the development of KPIs that the company uses to track customer feedback. These measurements can assist you figure out how satisfied or loyal your consumers are. Net Promoter Score, Customer Satisfaction, and Customer Effort Score are three of the most prominent customer experience measures. The metrics play a critical role in the customer experience management process.Customer Perception - What is the significance of customer perception? Perception has an impact on more than just each individual sale; it shapes the long-term relationships that buyers have with your company, for better or worse. As a result, every interaction your organization has with clients must have a favorable impact on their perception.Customer Experience Strategy - A customer experience strategy describes how your organization intends to provide the best possible customer experience in your specific situation. The sum total of a client's view of your company is called customer experience. Buyer Personas - A buyer persona is a thorough depiction of a hypothetical individual who represents your target market. This is a hypothetical individual who exemplifies the attributes of your best potential clients, not an actual consumer. This consumer persona will be given a name, demographic information, interests, and behavioral characteristics.Episode TakeawaysCustomer Experience Strategy - The Benefits Of Optimizing Your Customers' Experiences1. Improves Brand PerceptionWhen people think about brands, what comes to mind first? Is it price, quality, style, convenience, etc.? If so, then you're probably thinking like most businesses do today: "How can I make my products/services cheaper, faster, easier, etc." But if you want to be successful long term, you need to start thinking differently. You should focus less on making things cheap and fast, but instead focus on creating an amazing an customer journey and experience. When someone thinks about your brand, what do they see? Happy customers or online reviews reporting negative customer interactions. What image does he get? How would he describe your brand? These questions help define your brand perception. And since perceptions drive behavior, improving your brand perception leads directly to improved sales and profits.2. Increases Sales & ProfitsA recent report published by Forrester Consulting showed that companies who rank high in terms of customer satisfaction also tend to outperform those who don't. They found that companies with higher levels of customer satisfaction were able to increase revenue per employee by $4,000 annually! That means that every dollar spent on providing great customer service yields four times as much profit than spending money elsewhere. So why aren't more companies doing this already? Well, there are two reasons. First, many organizations still view customer service as something that costs them money rather than an investment. Second, some believe that focusing too heavily on customer service could actually hurt their bottom line because it might lead to lower revenues. However, research shows that these fears are unfounded. Companies that provide excellent customer service not only enjoy increased profitability, but they also attract new customers and retain existing ones.3. Builds Trust With ConsumersTrust is one of the key drivers behind any relationship between a buyer and seller. According to Harvard Business Review, trust has become increasingly important in our society. Topics Discussed- What is the customer experience- Customer experience example- The customer experience can be physical, emotional, sensory, or spiritual- The scope of the total customer experience- The customer experience also includes user generated content and online reviews- The creation of virtual communities for sharing information and experiences- Experience can only be gained from use, not from advertising or marketing- The experience is the brand in the eyes of the customer- 5 ways to improve the customer experienceResources- Free eBook: Customer Experience for Dummies | https://bit.ly/3xZR9lU- The CEO Guide to Customer Experience | Article- Customer Experience Measurement: How to Gain Customer Experience Insights | ArticleContact, Join, and Follow Us- Please send your questions or comments to firstname.lastname@example.orgTwitter: SCH360- Facebook | https://facebook.com/schconyc- YouTube | https://www.youtube.com/channel/UCn79aQH09frGwNqeac3PV7w- Show notes, contact us | email@example.com | Include episode numberContact usAcademic ResearchWant to uncover more knowledge insights and expand your learning? Here are a few research articles/case studies that connect theory with practice in the marketplace. Note: These articles are highly technical (i.e., the research method, data collection, and data analysis sections). To receive the most benefit, focus on the introduction and the conclusions/findings.- Managing the Total Customer Experience | https://bit.ly/3yWc6iO- Understanding Customer Experience | https://bit.ly/3AR1XED- The Impact of Customer Satisfaction, Customer Experience, and Customer Loyalty on Brand Power | https://bit.ly/37OrbqR
9 minutes | Aug 5, 2021
Press Releases: How To Increase Brand Awareness For Your Business | Ep. 5
Episode SummaryDo you want your brand to grow and have name recognition like some of the most iconic brands? I'm referring to those brands where you may see a logo or hear a sound, and you instantly know the company's name. If you want to be like them, you can use an "old school" marketing tool that is very effective but rarely used by most business owners and entrepreneurs. Press releases are an excellent way to promote your brand and increase the awareness of your products and services. In this episode, we discuss how press releases can boost brand awareness and build trust for companies that want to expand their market visibility in a cost-effective manner. Episode Topics & Takeaways•What is brand awareness •Brand equity•Word-of-Mouth promotion•Rules for creating press releases•Determining your target market•Press release distribution services•Press release syndication on social mediaResources•Free eBook: Press Release Ideas | https://bit.ly/50Prid•Press Release Toolkit (Lists, Templates, Checklists) | https://bit.ly/press-release-toolkit•How to Format a Press Release in AP Style | https://www.newswire.com/blog/how-to-format-a-press-release-in-ap-styleContact, Join, and Follow Us•Please send your questions or comments to firstname.lastname@example.org•Twitter: SCH360•Facebook | https://facebook.com/schconyc•YouTube | https://www.youtube.com/channel/UCn79aQH09frGwNqeac3PV7w•Show notes, contact us | email@example.com | Include episode numberAcademic ResearchWant to uncover more knowledge insights and expand your learning? Here are a few research articles/case studies that connect theory with practice in the marketplace. Note: These articles are highly technical (i.e., the research method, data collection, and data analysis sections). To receive the most benefit, focus on the introduction and the conclusions/findings. • Brand advertising as creative publicity. https://bit.ly/37qPFpR• Understanding the concept of publicity in public relations: A synoptic review. https://bit.ly/3isASRX• The impact of brand awareness on companies marketing strategies. https://bit.ly/3s2i3rT• Building a strong services brand: Lessons from Mayo Clinic. https://bit.ly/3AlFbog
14 minutes | Jul 22, 2021
How To Use Pop-Up Stores To Create Your Competitive Advantage | Ep. 4
Episode SummaryI recently attended a local Pop-Up Shop event. In case you are not familiar with the term, a pop-up shop, sometimes referred to as flash retailing, is a trend where an entrepreneur randomly opens a sales space for a short amount of time, usually one day. The idea behind this tactic is to generate interest in your products, make sales, and engage customers with your brand. The ability to market effectively is a pain point for many small businesses and it was very evident at this event. In this episode we are going discuss how you can attract more customers to your business by understanding your competitive advantages and using your strengths to promote your brand.Episode Main Topics/Takeaways- Typical customer engagement at a Pop-Up event- Collect marketing analytics (age, ethnicity, gender, personality, brand affinities, opinions, etc.)- Building trust/Building your brand- Creating/identifying your competitive advantages- Competitive Advantages examples- Understanding the competition- List of ways to create competitive advantagesResources (eBooks, suggested reading)- Free eBook - Internet Marketing Metrics | https://bit.ly/36SdhU3- Course | How to Identify and Create Your Competitive Advantage | https://bit.ly/sbmwContact, Join, and Follow Us- Leave us a voicemail with your comments or questions | https://bit.ly/3ruMI0N- Twitter | SCH360 | https://twitter.com/sch360- Facebook | @schconyc- The Knowledge Catalyst Podcast | Website | https://bit.ly/36WSpeGInterested in Being a Guest on The Knowledge Catalyst?Send us your bio and information about your company to | firstname.lastname@example.org.
13 minutes | Oct 28, 2020
How To Use Facebook Ads To Build An Email List For Lead Generation | Ep.3
In this episode, we discuss how to build and email list using Facebook as a traffic source as part of a lead generation strategy. We also introduce the concepts of Customer Personas, A/B Testing, and Capture Pages.
11 minutes | Oct 14, 2020
Lead Generation Strategies for Local Businesses | Ep. 2
Episode SummaryIn this episode we discuss high-impact approaches to grow your local business. Effective local lead generation strategies can help you acquire more customers. However, many digital marketing strategies are unfocused. The strategies we present are targeted to your local market and are easy, affordable, and effective.Sixty percent of marketers state that lead generation is a key pain point for their company. Determining a good lead is more complex than just targeting people who downloaded your white paper, and it’s important that your sales reps don’t waste their time cold calling unqualified leads when there are ways to narrow down the pool of prospects.When you implement a lead generation program, you increase brand awareness, build relationships, generate qualified leads, and ultimately close deals. The higher quality leads you direct your sales team to, the more of those leads will result in sales. ResourcesFacebook Ads | https://www.facebook.com/business/adsGoogle Ads | https://ads.google.com/home/Trade Show Listings | https://www.absoluteexhibits.com/top-100-usa-shows/Free eBook | Internet Marketing KPIs (Metrics)Course | Lead Generation EssentialsContact, Join, and Follow UsLeave us a voicemail with your comments or questions | HereTwitter | TMA360Facebook | @schconycThe Knowledge Catalyst Podcast | https://sch.podbean.comInterested in Being a Guest on The Knowledge Catalyst?Send us your bio and information about your company to | email@example.com
1 minutes | Aug 16, 2014
The Marketing Audit
Auditing the marketing function within your organization is the hidden link between long-term customer engagement and sustainable revenue growth. In this book, we provide a questionnaire consisting of 50 questions that will allow you to align your marketing activities with the dynamic needs of your customers. Buy the eBook here.Paperback, eBook, and Audiobook and be purchased here: https://smarturl.it/tkcp
4 minutes | Aug 15, 2014
The Impact of the Internet on Retail Marketing Strategies
The communication channels to the consumer have expanded in number as well as complexity with the global expansion of the Internet and related information technology based products and services.
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