Human Resources

Mohammad Anas Wahaj | 23 sep 2015

In a highly competitive market, brands can utilize excellent customer service strategies to differentiate themselves. Listening to voice of the customer, understanding their behavior and analyzing their interactions, can provide companies the needs and wants of the customer. Companies can use these insights to better serve their customers and that has direct impact on their bottom line. According to Defaqto Research, '55% of consumers would pay more for a better customer experience.' Study published in Journal of Marketing (2004 Edition) by team of researchers, Prof. Eugene W. Anderson of University of Michigan (now at University of Miami), Prof. Claes Fornell of University of Michigan and, Prof. Sanal K. Mazvancheryl of Georgetown University (now at American University, Washington DC), quantified the consequence of quality customer service on shareholder value. Study points out, 'Among 200 businesses represented in the Fortune 500 across 40 industries, a 1% improvement in customer satisfaction increased a firm's value by US$275 million.' Danny Wong, co-founder of Blank Label and digital marketer, explains the importance of customer feedback and how ecommerce stores can turn this into a competitive advantage through effective engagement, building relationships and developing better products and services. According to him, 'Develop an intimate understanding of what your customers know, want and need to establish a competitive edge that helps you improve how you do business and the value you offer to end consumers. Start by categorizing reasons for why your customers purchase your products i.e. their primary motivations.' He suggests stores to source high-impact feedback and utilize the following tactics to expand the scope of their customer research - (1) Audit the reviews competitors receive (2) Conduct surveys (3) Dive into your analytics (4) Encourage user-generated content (5) Track public conversations. Once the research is at hand, stores need to summarize actionable takeaways and use the following three steps to build a strong business case for doing anything - (1) Quantify its impact (2) Measure its market opportunity (3) Get leadership buy-in. To implement new changes the stores can use gradual strategies to first consider the high-impact initiatives that are easy to do and then to implement moderate changes and finally move on to more resource intensive projects for long-term meaningful outcomes. Companies should incorporate excellence in customer service into their corporate culture and should consider the opportunity of every interaction with customers to build lasting relationships. Read on...

Huffington Post: How to Leverage Customer Feedback to Improve Your Ecommerce Store
Author: Danny Wong

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Mohammad Anas Wahaj | 08 sep 2015

Healthcare industry in US is undergoing transformation driven by multiple factors that include technology, changes in consumer behavior, rising costs, legislation etc. Employees are becoming more independent in making their healthcare decisions that were earlier influenced by their employers. Healthcare providers are now dealing with more proactive consumers. Healthcare marketers need to understand consumer preferences, adapt to the changing needs, create products and services that fulfil needs and satisfy customers and utilize consumer insights to develop effective marketing progams. Brent Walker, Chief Marketing Officer of c2b Solutions, explains the drivers that are leading to shifts in healthcare and how marketers should adapt and succeed in this new healthcare scenario. According to him, in addition to rising costs, the three main reasons that we are evolving towards consumer-driven healthcare are - (1) Demographic and Socio-Economic Realities: More pronounced health issues and chronic conditions of aging Baby Boomers; Lack of health insurance for a sizeable population; Heterogeneous population; Expensive healthcare products and technologies. (2) Legislation: Healthcare system is adapting to Affordable Care Act; Health insurers have to deal with individual consumers; Healthcare providers are investing in infrastructure; Integrated Electronic Health Records and Big Data technologies; Reimbursement based on medical outcomes and patient satisfaction. (3) Technological: Digital media is a catalyst of consumerism; Informed consumers due to internet and mobile apps; Improved transparency; Better ability to assess cost and quality, and research about products and services with more choices; Inclination towards prevention and wellness. He explains three implications that healthcare providers have to plan for - (1) Massive investments are required for technological upgrade and update of systems to facilitate integrated patient record sharing and also reporting care quality. (2) Business models must change. Physicians are leaving smaller firms to join large healthcare systems due to IT investments and scale necessary to control costs and manage risks. (3) New competitors are entering as a result of advancement in technologies and consumer-driven approaches. In this changing healthcare landscape marketers have to continuously evaluate and assess their direction. He suggests four dimensions to do so - (1) Data: Right data to understand and reach the target audience. (2) Systems: Infrastructure to understand consumers, create insights and build valueable customer-firm relationships. (3) People: Have consumer marketers in team with experience in latest web and mobile technologies. Combine industry experience with consumer insights and customer behavior understanding skills. (4) Processes: Newer sales methods. Analytics and measurement of marketing effectiveness. Focus on analyzing consumer acquisition, retention and satisfaction. Read on...

Forbes: The New World Of Healthcare Marketing: A Framework For Adaptation
Authors: John Greenfield, Kimberly A. Whitler

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Mohammad Anas Wahaj | 08 sep 2015

The relationship between consumers and businesses is continuously evolving. Technology is playing an important role in creating a shift in consumer behavior. Smartphones are providing consumers with connectivity that is driving this change. Ori Karev, US CEO of Gett, explores the reasons that are leading to transormations in consumer dynamics and how they interact and connect with brands. According to him, 'Consumerism has shifted from a world of physical images and personal communication to a world of imagery and perception. Regardless of industry, product or service, vendors that enable instantaneous access and deliver on their digital promise will survive.' Consumers have become more pragmatic. They have access to tools and services to research for best solutions at best prices that are available with just a tap on their phones. Online consumers have become more like business-to-business consumers. But they do have emotional attachment to brands that can provide them with the best experience. The power is shifting towards consumers and businesses are getting more and more consumer dependent. Mr. Karev explains, 'On-demand industry has gone through such a rapid change of behavior within a mere five years. The swift change stems from two factors: the availability of smartphones, and people's desire to maximize the convenience and efficiency of procuring services and products.' He further points out that certain fundamentals of consumer-seller relationship will remain - 'Shoppers want to do business with companies that are fair, so this treaty must hinge on veracity, transparency, credibility, honesty and good will.' Today people place most value on fulfillment and satisfaction. They have concerns regarding how a vendor treats its employees and suppliers and would get influenced by these factors while making purchases. Online research, decision and purchase behaviors have now made consumers a strong part of businesses. Companies that understand and fulfil the consumer expectations - real-time, always-on support; competitive pricing; respect and transparency towards vendors and suppliers; ethical corporate culture - in the current on-demand environment will be the one that survive and succeed. Read on...

ReadWrite: The Changing Face Of Today's Consumer
Author: Ori Karev

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Mohammad Anas Wahaj | 12 aug 2015

'Product Marketing' function in an organization is not very clearly defined and people more often confuse it with 'Product Management' or 'Marketing Management'. According to Wikipedia, 'Product marketing deals with the "7 P's" of marketing, which are product, pricing, place, promotion, physical environment, process and people. Product marketing, as opposed to product management, deals with more outbound marketing or customer-facing tasks.' Justin Topliff, Product Marketing Manager at Infusionsoft and Founder at ProductMarketingSummit.com, explains that product marketing managers are often a bridge between the product management and marketing management. Their role becomes significant when product managers and marketing managers become hyper-focused on their respective roles and as a result product management and marketing become siloed. The communication between the two functions get disconnected. Mr. Topliff describe 3 categories of responsibilities of product marketing department - (1) Research: Keep tab on industry, market and competition; Competitor profiling; Qualitative and quantitative research of customers and prospective users; Recommend and implement iterative product improvements. (2) Messaging, Positioning and Pricing: Humanize the technology in messaging; Train about product communication; Create effective marketing communication; Package and price products scientifically. (3) Product Launches and Lifecycle Management: Develop and execute go-to-market strategies; Coordinate with other deparments for product launch; Drive product consumption; Manage continuous improvement of product. Read on...

LinkedIn Pulse: What is product marketing? How is it different from product management or 'regular' marketing?
Author: Justin Topliff

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Mohammad Anas Wahaj | 31 jul 2015

In recent years marketing has been consistently evolving due to the changes driven by technological advances. These digital transformations are creating a resource crunch in marketing departments of organizations. They are facing more challenges and to effectively manage the digital require new skillsets. Initially digital was considered as a medium of communication like TV, Print etc. But according to Jean-Luc Ambrosi, a marketing expert and author of the book 'Branding to Differ', 'Blending traditional marketing skills with the new age of digital is not an easy affair...What has changed, however, is that digital is not simply a medium, it is many mediums with different media consumption patterns. Both a push and a pull mechanism, it is above-the-line, direct marketing, social media as well as point-of-sales, all under one big label.' Marketers now need multiple skills and to clarify roles and resource accordingly is becoming a difficult task for marketing departments. Mr. Ambrosi further explains, 'With the shift in emphasis around treating digital as a multi-medium platform, the solution may lie in building teams focused on the customer rather than the digital channel. With customer centricity at the core, marketing teams can treat digital for what it is: A multifaceted mechanism to interact with customers, and a means rather than an end.' The best sourcing solution would be to seek marketing specialists with the specific skillsets adapted to the digital environment. The basics of marketing should not be ignored while focusing on digital. Mr. Ambrosi advises, 'The under resourcing of digital activities is a function of the expansion of marketing activities in the digital ecosystem, rather than the disappearance of traditional marketing. Therefore, it should be answered via the adaptation of marketing specialist resources to digital rather than a shift towards technical digital specialists.' Read on...

CMO: Marketing skills in a virtual world
Author: Jean-Luc Ambrosi

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Mohammad Anas Wahaj | 16 jul 2015

Companies spend substantial time and money to create their brands. It is a continuous process to keep the brand value intact. Jarad Hull, CEO of Blueroof360, elaborates on the mistakes that companies should avoid while pursuing their branding journey - (1) A lack of passion: Be passionate about your branding and create an emotional connect with customers. Passion leads to genuine enthusiasm. (2) Inconsistencies: Create a consistent brand identity and showcase it to both employees and customers. As representatives, employees should maintain this branding consistency. (3) No focus: Keep focus and have a detailed marketing plan before embarking on a branding process. Concentrate on the target audience. (4) Trying too hard: Don't use excessive humor or get too trendy as it may repel customers. Engage them with meaningful and relevant messages. (5) No branding communication: Ensure that employees understand the branding strategy. Train them as brand representatives. Read on...

Inman: 5 branding mistakes you might be making
Author: Jarad Hull

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Mohammad Anas Wahaj | 26 may 2015

As businesses continue to pile-up huge amount of data there are opportunities for data scientists to provide meaningful insights to help them grow and succeed. Even startups at their early stages have substantial data that can be utilized for business value. Tianhui Michael Li, Data Scientist and Executive Director of The Data Incubator, gives his view on how a skilled data scientist (DS) can be a catalyst of growth for entrepreneurial ventures - (1) Growth Hacking: DS can utilize social data and web analytics to implement low-cost, high impact marketing campaigns. (2) Customer Retention: Bain & Co. found that 5% increase in customer retention increases profits by 125%. DS can analyze customer behavior and target communication for customer engagement, retention and even identify brand advocates to bring new customers. (3) Personalizing Products and Services: DS can utilize sales, marketing and web data to identify customer needs and wants. This will assist in customizing offerings. (4) Marketing Optimization: DS can optimize every aspect of marketing and advertising from ad budget to ad clicks to actual conversions and purchases, and much more. Read on...

Entrepreneur: 4 Things a Data Scientist Can Do for Entrepreneurs
Author: Tianhui Michael Li

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Mohammad Anas Wahaj | 14 may 2015

Pervasion of technology in every aspect of society is leading to ease of access and instant availability of products and services to customers. There are multiple vendors vying for consumer's attention. This highly competitive environment makes the marketers job more relevant and challenging. They need to equip themselves with the right skills, tools and strategies to reach out effectively to their target audience. Christian Eriksen, Regional Director of Marketing and Solutions at SimCorp Asia, provide four tips to marketing professionals for efficiency, effective communication, partnerships and growth - (1) Buyer Personas: Know who you are selling to. (2) Buyer's Journey: Know where your buyers are at in the buying process. (3) Invest in Technology: Automation in marketing is key. (4) Partner with the Right People: Those who understand your brand and market. Read on...

CMO Innovation: Four tips for marketing professionals
Author: Christian Eriksen

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Mohammad Anas Wahaj | 29 apr 2015

PR is undergoing transformational shifts. In this year's Agency Business Report, the main themes are integration, convergence and the enhanced value of digital and social media. The new PR firm is highly influenced by these factors as they change the dynamics of agency leadership roles, the structure of the firms, and the talent that is recruited and retained. Richard Edelman, CEO of Edelman, defines the largest PR firm in the world as, 'It's a Venn diagram where the overlaps of the four [media, PR, social media, advertising] are becoming more present. It used to be distinct valleys and now the roads are crossing. We're going to try to have stronger creative, stronger planning, and look at problems differently.' Inspite of recognition of advertising agencies for their PR work and some ad-shops 'integrating forward', most PR agency leaders still believe PR has a unique mentality and heritage to bring to the modern content marketing mix. They don't see the need to rebrand as something other than PR. According to Andy Polansky, CEO of Weber Shandwick, 'Some advertising firms, like Mullen, have a strong PR capability - others do it around the edges. The key is to develop depth and have a credible, strong offering. PR has never been held in higher regard by the C-suite, and there's a lot more dimension to our business now. We've emerged as leaders in content marketing and social.' He further believes the sweet spot for PR agencies is the ability to engage multiple constituencies across different platforms and stakeholder groups. Fred Cook, CEO of PR firm Golin, says, 'It's getting harder to define what a PR agency is...We're competing with different types of agencies in different categories. You can call yourself anything you want, but it is how your clients define you. Our clients still define us as a PR agency, but a PR agency that does a lot more than before.' According to Dave Senay, CEO of FleishmanHillard, the principles of PR have never changed. He cites Edward Bernays' definition of PR as informing, persuading, and connecting people with people. He points out, 'PR is no different than it's ever been. If you take the two schools of PR, the behaviorist or socially responsible or conscious side, they are converging like never before. The wind is completely blowing into our strengths.' He believes modern marketing communications is all about how and why people behave the way they do, which requires an understanding of their culture, media consumption habits, and the global push toward shared value. Online video is at the forefront of new PR services. Although it has been mostly associated with ad agencies, but PR firms are now effectively utilizing the medium to construct engaging narratives. The change in skill sets required at the "new PR agency" is changing the people who come into the business and inevitably resulting in legacy personnel leaving at the other end of the talent funnel. It is also evolving different workforce structures more suited to the new environment. Many agencies have restructured their practice offerings and tried to inculcate collaboration across disciplines, geographies, and offices. Compensation structures are being amended to better reflect overall results at agencies, rather than being based on individual office P&Ls. Bonus pools are increasingly tied to individual objectives aligned with strategy and client goals rather than offices. Skeptics about this new age of PR and subsequent delineation for PR agencies may highlight the issue of measurement and how these new skill sets are producing return on investment for brands and clients. But in reality the payback and return on investment of content-based executions built from smart data can totally be monitored in real time, via measurement and social analytics. Effectiveness is measured on criteria such as the number of people who link to, share, view, or create their own content using the source material. Social metrics are much more powerful because they show someone is actively involved in the content and sharing it with their community. Rob Flaherty, CEO of Ketchum, points out, 'And now with the Internet of Things you can link these metrics to visits in-store and to purchases, which is the Holy Grail for every communicator and marketer - and also for the new age of PR firms servicing those clients' needs.' Real-time marketing is fueling a new range of skills, services, and ways of working at PR agencies. Read on...

PRWeek: What is the new PR agency?
Author: Steve Barrett

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Mohammad Anas Wahaj | 03 apr 2015

Marketing strategy need to be communicated, accepted and implemented by the whole team to get the expected results. Oftentimes it is observed that a good plan and strategy fails due to lack of understanding and support by the members of the team. John Rampton, president of Adogy, provides three innovative techniques to bring the team on the same page regarding the marketing plan - (1) Make it a Game: Allen Graves, a content marketing strategist, suggests making the marketing strategy a game. The idea is based on Joe Pulizzi's 'Epic Content Marketing'. Make four small teams and a team is constitued with 4-5 members who don't generally work together and use a 10-step process to create strategy (i-Decide on a single product to market; ii-Research & document general audiences, buyer personas etc; iii-Define goals of the conent; iv-Detail the buying process and engagement cycles; v-Define the conent niche; vi-Develop a content mission statement; vii-Create a comprehensive content marketing plan; viii-Build a content calender to include at least 12 pieces of content; ix-Develop a strategy to market each piece of content; x-Define key performance indicators and how goals will be measured). Finally team answers the 10-steps in a PowerPoint presentation. (2) Implement an Internal Communication Plan: According to Kris Prendergast, a communication expert, 'Internal communication is the strategic process of gaining employee support for external branding efforts and marketing campaigns.' This can be achieved within the organization by internal newsletter or blog; internal social network; sales conferences and marketing conferences; team building/training events; and digital interactive capabilities. (3) Hold a Strategy Planning Day: John Jantsch, author of 'Duct Tape Marketing', suggests scheduling a strategy planning day, preferably on an offsite location and including a facilitator for the session. Brainstorming sessions would include a team leader, who assembles his own team & resources, and creates a framework and plan based on key themes like objectives, results, constraints, goals, projects and tactics. Read on...

Forbes: 3 Tips To Take Marketing Strategy to Whole Team
Author: John Rampton

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