TWITTER - for business

According to my personal opinion Twitter is the best tool for customer engagement when compared to other tools like Facebook, LinkedIn, Tumblr, Pinterest etc. I would try explain some of the advantages of Twitter and some things to be taken care when using Twitter. 

Some of the advantages of using Twitter are:

• Twitter just supports 140 characters , thus when we communicate something because it is short customers will spend time in reading it. But the point to be noticed how effectively we are using our language when we communicate a message with just 140 characters. 
• Using Twitter you can do anything and everything which you do in other social media tools, Example: you can post videos like YouTube, share status like Facebook, share photos like Pinterest, share link etc. Well this can be done in Facebook too but Twitter has more customer engagement. 
• Its easy to reply to a tweet, share a tweet (retweet), like the tweet (favorite), and send message (Direct Message). 
• People use Facebook more for their personal purposes, but Twitter is a mix of both personal and professional. 
• Statistics show that Twitter has more customer turnover rate than Facebook or any other social medias. 

Things to be taken care when using Twitter:

• Choose short and cache Twitter Handle. Try to avoid characters because Mobile users will find it difficult to type and Tweet.
• Choose appropriate Display Picture and Header Photo. It is same like Facebook profile picture and cover picture. 
• Follow your right target audience and that will help Business in having better interaction with the customers. 
• How do you make people follow you? Conduct events, contests etc in Twitter and give away goodies to customers. When you conduct contests make a #tag for your brand and ask your customers to tweet with that particular #tag and when more and more people start tweet with that #tag, it will become a trend and appear in trend map, thus even the people who are not your followers can see the trend and follow you. In this way you gain more customers as well as you engage your customers.
• Link your Twitter account to your website, blogs and other pages.
• When you tweet directly to customers , never tweet all customers at same time because people will think you are trying to spam, maximum send 3-5 tweets at a stretch and then take a break and send again. 

I hope this would have helped you. For more posts stay tuned...!! 

THE FORTUNE AT THE BOTTOM OF THE PYRAMID - C.K.PRAHALAD

This is not review about the "THE FORTUNE AT THE BOTTOM OF THE PYRAMID" . This is just a short summary or important points to be taken care when businesses focus on BOP. 

This is really interesting book and if you get an opportunity to read this book never miss it, it’s worth reading. Some of the key points which I gained from this book are.... 

• Most of the Businesses focus more on Tier 1 and Tier 2 cities and they miss the huge opportunity that is underlying in the bottom of Pyramid. This book explains fortune at BOP and strategies that should be adopted by businesses and some successful examples. 
• The BOP as a segment consists of an estimated 4 billion people who live at below $2/day. 
• There is an assumption that there is no money at the BOP. But the reality is that BOP offer huge opportunity due to their large numbers.
• There is also an assumption that it is difficult to reach there, yes it is difficult when compared to Tier 1 or Tier 2 cities but there are many companies who succeeded in reaching BOP. Example: Project Shakti from Hindustan Lever Limited.
• To reach BOP you need to focus on Affordability (without compromising on quality and efficacy), Accessibility and Availability. 
• Don’t just focus on Product development focus on Process development. Develop innovative process to reach BOP, such that it reduces your cost and also reach maximum customers.
• Educate your customers about usage of product.
• BOP market is a Golden Opportunity, where when you try to innovate in BOP in market it can give you more learning’s which can be used to cater other markets globally.
• The author suggests that businesses should focus more on wealth creation rather than just building market. Example: E-Choupal by ITC, Project Shakti from Hindustan Lever Limited etc. It is about building sustainable community.
• Another well understood but poorly articulated reality is the role of women in development.
• Last point suggested by author is that the social transformation should lead the pyramid structure to morph a diamond. Pyramid depicts unequal distribution in the society.

Also read some success stories such as Parle-G, Amul, Nirma, HLL, ITC etc to better understand about this BOP Market.

Facebook - A tool for Business

If you want to promote your business online, Facebook is the right tool. But never restrict your business promotions with Facebook, there are many other social media tools. But in this post I will try to explain how to handle your Facebook page.

.

• Facebook is the place where there are billions of active users. Thus creating a page for business in Facebook can help you reach large audience.
• Its not always possible to go and meet your customers offline especially when you have wide range of geography , thus here it is possible to gather all customers at one place. 
• You can get feedback's from customers through Facebook and see to that you respond to all feedback's and keep them engaged. If there is any negative feedback's given manage it properly with right words else it may effect feelings of all other customers who see that comment. 
• Get new customers by promoting your page, you can use Facebook ads and you can ask your existing happy customers to promote your page. By using Facebook ads you can actually narrow down your audience and get right target customers. 
• Always engage your customers with new updates, contests, offers, etc. Thus customers in your page are always active. 
• When you post something never make it too large because customers may not feel as reading it, make it short, simple and creative. Include picture which will increase visibility of posts. 
• When you have large audience and if you get some negative comments from any unhappy customers then it is going to affect you badly, thus you should have right strategy to handle negative comments. Respond to negative comments immediately and try to solve it immediately thus it is not going to effect other customers. 
• If you have other social media tools then link them from your Facebook page. Also link your website from Facebook page. Its basically Traffic exchange.
• Follow your insights closely, always try to engage your customers or else your insights graph will go down. 
• Use Facebook graph to reach your target audience. 

Saying No to customer . Right or Wrong ??

Saying No to customer is never a crime.

If you can't provide what your customer expects from you then never hesitate to say No. Don't make false promises like we will try our best to do and finally not doing. Rather than creating an expectation and saying No , its better to say at beginning that you cant provide that service.

Never make false promises. You clearly know what your business can offer to customers. If your customers expects more from you never make false promises that you can deliver unless you can really deliver what they expect. The problem in making in false promise is you are not just losing one customer. What if that unsatisfied customer spreads negative word of mouth about your company, its going to affect your business badly.

But when you are saying No to customer. Never say directly a negative sentence that No, we cannot offer you that service. If you say so it may hurt customers feelings. Say with a positive statement like- Sorry, I am afraid that service is not available with us, make your customer feel comfortable in accepting the negative reply.

Its always saying No is better than saying false Yes because, if you say No at the very beginning customers doesn't expect more from you, but when you say yes and if din't deliver it is going to fetch you a bad result.

Always remember if one customer is unsatisfied it not that you are just losing that one customer but all other prospective customers who is connected directly or indirectly with that customers. In today's world with all modern means of communication, negative word of mouth spreads faster than positive word of mouth.

Lessons from MSD

Have you seen Namma Thala Dhoni's during and after matches, you can learn many things from that cool man.

Lesson #1:Stay cool and calm. 
He stays cool even during hard times. When your company is facing difficult situations always stay cool and take decisions. If you become tensed then your decisions may go in wrong directions.

Lesson #2: Take Risk.
Always take risk, but take calculated risk. If you never take risk you will not learn new things and will never reach heights. If you see Dhoni , he takes risk and tries new things , eg: giving final over of world-cup T20 to Johinder Singh even when experienced bowler had an over left, that's the only reason he could achieve many things.
It is not necessary that all your risks should succeed, even if you fail you learn new things and gain new experience.

Lesson #3: Don't blame.
If somethings fails don't try to blame others. When you see Dhoni, if team India fails , he never blames his boys, he says its because of my wrong decision we failed. And if team India won he never take credits, he says his batsmen or bowlers performed well. When working in team never try to blame your team mates and never take self credit for the success of team.

Lesson #4: Be an all-rounder.
Never restrict yourself in learning or trying new things. Dhoni is a wicket keeper, there is no need for him to bowl, but when got chance he comes and bowls, he tries to be a all rounder. Like ways never restrict yourself and never miss opportunities.

Crazy research- Judging customers with their phone

I am sorry if it hurts someone's feeling. Don't take it personally.

If its male customer:

• If he owns an Android Phone: Most probably he must be a techie, he may possess some knowledge in technology, at-least basic knowledge.
• If he owns a Windows Phone: He much be a early adapter, where he tries new things and try to be different from others.
• If he owns an iPhone: If a person owns an iPhone and flaunt around then they are dumbest of customers, he only choose the product that of high price. And if its older version of iPhone then it must be gifted by someone, then they may be price conscious. 

If its a female customer:

• If she owns an Android Phone: Most probably it must be gifted by her boy friend and if its so they are not the ultimate decision maker , they will decide only after consulting their family or friends. And if there are more colors and stickers in the Phone , then its confirmed they are not the ultimate decision makers. 
• If she owns a Windows Phone: Then she may try things differently , she may consult others before purchasing the product, but they will decide themselves which product to go with.
• If she owns an iPhone: Then for sure she will purchase only high price product even its useless, hit them with their ego and sure you can make money out of them. 

Things to be taken care while meeting customers

When you meet your customer or clients for the first time, you should keep some points in your mind. They are

First impression is the best impression. Whenever you meet your clients for the first time, try to pull them towards you in the very beginning. If you lose, then you are lost forever. When you start speaking maximum within 1 minute you have to get their attention else you can never get their attention.

Always address your clients with a smile. Greet them with a smile, talk them with a smile. This is very small and basic practice which most them fail to do. It may sound silly but it makes lot of difference.

Always under promise and over deliver, never over promise and under deliver. That is, for example if a task takes 5 days to complete say them it will take 7 days and finish it and 5 days and give them, they will feel happy and satisfied. But never say it takes 5 days and deliver in 7th day. It makes a very bad impact.

Never make false statements. If you cant do something then say to them directly that it is not possible. Never say we will try , we will look into it, let me ask someone else etc. Because if you say such statements , client may still think that you will make it possible and if you say no after that it will disappoint them. So say No at very beginning.
But don't say No directly, say it indirectly. Eg: Sorry , I am afraid it is not possible. Sorry, that service is not available with us, etc.. Don't use the word NO, we cant do that etc. Try to say No using a positive sentence.

Don't be 100% formal, because if you are 100% formal then it is difficult to say No. Try to be 95% formal and 5% casual. Casual doesn't mean that talk about your personal stuffs.

Always make your customer feel that you are the right point of contact. If you say like i will let you know after speaking to my higher officials etc. They may ignore you and reach higher officials directly there by spoiling your reputation. Make them believe that you are the final decision maker.

When the client purchases your product/service then make them feel that they are special. Congratulate them, Thank them, Support them.

Thank you. Hope you have a great day with your customers.

Do you relay on Market Research for creating your product?

Management books say before you create your product you should understand the customers need and then create your product accordingly, only then customers will accept your product.

Most of the time customer never knows what they want. So until we produce the particular product, customer doesn’t feel the need for the product. Only after you create your product and make the customer feel need for that particular product they accept it. So if you create a defect free perfect product, customers will blindly accept your product. This is applicable only for the base product. When you want to provide augmented product then you may probably consult your customers.

Take for example any product a pen, pencil, car, bike, tv, mobile, etc etc. Until the product is made people never felt the need for that particular product. Eg: Before Tablets was launched in market people never know about that product and never felt need of the product, they were happy with mobile phones. If Tablet making company relayed on Market Research and result of research was negative that product wouldn’t be in market today. Only after Apple launched iPad, people felt need for that product.

Again Marketing books say you cannot create need, but in reality it is possible. You can create a need for the product. It depends in the way you present your product. You can take same example of Tablets , Apple created need for that product.

Sometimes even after research the product fails. It’s because the mistake is in the way we communicate our product.  I would explain more about communicating the product in next blog. Thank you. 

Is your customer king ? or your product ?

Management books says treat your customers as king, god etc. But never do that. Treat your customer as normal human being. Instead you should actually treat your product as king. I will try to convince this statement in below.

The problems in treating your customers as king is you can never say no to whatever they demand and you can never negotiate with them because you have already made them feel special. So you will either end up in over promising which you cant deliver or you would end up losing the customer. If you end up in over promising and deliver what you promised, it is a loss for your business in terms of monetary or other resources, if you end in over promising and din't deliver you lose that customer and also other customers whom he/she could influence and also in lose of brand value. Thus never treat your customers as king.

So what should you actually do ?

Treat your product as special instead of making your customer feel they are special. Make your customers feel that your product is very special and if they own product they will become someone special. If you place your product as something special customers come to you, and they became your fans instead of just customer.

Example: Apple does this in a right way. They always make their customers feel that their product is very special and no such other product is available in universe. We all know Samsung phones offer more features that Apple iPhone that too at less cost. But still why people go flaunting behind iPhone. It is just because of their placements of product. They say customers if you own an iPhone you are special and people believe it, they became fans (not customers).

Note: This is will not work for all products.