An article on Forbes.com analyzed the 3 types of innovation outlined in a report by Booz & Company that companies follow. And it was clear that the “need seeker”, the company that tries to seek out and meet an emerging or latent need, wins hands down. The three types of companies and their innovation models were defined as: Need seekers […]
Recently, a reader of my book asked me about The Principle of External Reinforcement. Her point was that most organizations are now anyway helping people buy what they need. So what exactly is the purpose of this principle? First, if you are already doing that, then its awesome. It doesn’t really invalidate the principle, only helps support it, right? Second, and more […]
We all know that product or service reviews are helpful in positively influencing the propensity of customer to buy. However, most research in this space has focused on the product and the moment of purchase. Lets evaluate some very important dimensions of customer engagement. If we put ourselves in our customers’ shoes, we realize that a product feature specific review is only partially […]
Every business needs loyal customers. We need customers to buy from us rather than our competition. Promotions and discounts are universally followed to secure this attention and loyalty – incentivizing customers to buy from us by way of cash value rather than creating any long term differentiation. Sometimes, and much more effective, these offers are a means to get customers to try out or […]
In the old days (a few years ago), digital marketing was about outreach on digital channels. Get more ad impressions, get more page hits, more Facebook page likes, more clicks on offers, among many other such metrics. The model of marketing was the same although on a different channel – get the word out there and optimize for conversion. Lately, […]
Here are some books that I think rise above the noise. While “getting the word out” and conversions are important, these books help you define what to do to actually create a product that customers want, and how to create long lasting customer engagement. These books are about strategy, and how to compete in a changing world. (I’ve read all […]
The digital marketing world has been abuzz with the power of meeting customers where they are, reaching them with targeted, just in time promotions and sending alerts on their mobile right when they are near a store they may be interested in. We are calling it the power of digital. But it doesn’t seem to be about customer engagement at […]
Back to blog home… Are we thinking the right way about what a social network in a digital world is? Can Facebook really only be the medium to the real social network? Some will argue that its only a platform (brand building, discovering, connecting, learning, researching), while others would stress that its their core network of friends (connecting, sharing). Both […]
Back to blog home… Thinking about customer engagement comes before thinking about our innovation pipeline. Customer engagement is no longer a way to think about engaging customers with our products and services. Instead it’s really about determining which new products and services to launch in order to engage our customers and target market. It’s also true that the target markets […]