Empowered consumer halil_yildirim
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How consumer preferences have evolved in time? What's the concept of Empowered Consumer? What companies should do in order to respond such changes?
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Empowered consumer halil_yildirim
- 1. EMPOWERED CONSUMERs by halil yıldırım How consumers became so powerful? How can we reach the audiences? How Companies should react for this phenomenon? 1
- 2. STRUCTURE I. PART -Definition - Examples of Empowered Consumer II.PART -What Companies should do with new phenemenon -What Consumer wants? 2
- 3. ‘When a consumer enters my store, forget me. He is the king’ John Wanamaker ‘Companies that smart are going to be really transparent and say ‘ hey consumer , work with us’ The companies that are less smart are going to be the ones that put up a polished surface and pretend’ Martin Lindstrom ‘Customer is always right’ Turkish Phrase 3
- 4. 4 Definition of Empowered Consumer
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- 7. Challanging Factors with Marketers 1) Consumers have more choices 7
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- 10. 3) Consumers Demand More 10
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- 12. Example for Empowered Consumer? 12
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- 14. Is Consumption a way to display Social Status nowadays? 14
- 15. Things we own and do can communicate our’s status (Rising Trend) 15
- 16. Conventional Methods are no longer OPTIMAL 16
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- 18. II. PART What Consumer Wants!! What to do for dealing with this new phenemenon? 18
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- 22. Are Your Company can Communicate with Consumers effectivelly? Are you good with ‘Mobile’ ? Is Your Company successfull at delivering relevent message?? Digital Empowerement? 22
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- 24. Authenticity 24
- 25. Authenticity 25
- 26. ECONOMIC OUTPUT BUSINESS IMPERATIVE CONSUMER SENSITIVITY EXPERIENCES RENDER AUTHENTICITY SERVICES IMPROVE QUALITY GOODS CONTROL COSTS COMMODITIES SUPPLY AVAILABILITY 26
- 27. TWO BY TWO MATRIX IS WHAT IT SAYS IT IS REAL FAKE REAL REAL IS NOT WHAT IT SAYS IT IS FAKE FAKE FAKE REAL IS NOT TRUE TO ITSELF IS TRUE TO ITSELF 27
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- 30. SOURCES http://www.economist.com/node/3810230 ‘Satisfied Customers Tell Three Friends Angry Customers tell 3,000’ Pete Balckshaw http://marketingblog.sociablelabs.com/blog/?Tag= Empowered%20Consumer http://www.business2community.com/marketing/t he-ibm-cmo-study-strengthened-visually-0122731 http://blogs.aberdeen.com/contact-center-customer- experience-management/day-in-the-life- of-an-empowered-customer-leveling-the-playing- field/ http://evolution.skf.com/business-outlook-the-empowered- consumer/ http://dontbubble.us/?kad=en_US 30
Hinweis der Redaktion
- -Today’s consumers who are connected to a wide network of friends and who access the opinions their friends and like-minded consumers before they make a purchase. It suggests that this empowerment of the individual consumer and the power of the connected human network effectively obsoletes all previous sources of competitive advantage -We live in a world where everything is just a click away. Internet – great source of information and offering us services on demand at anytime anywhere and often for free. -I also give us opportunity to share our experiences right away at touch a of button. The consumer controls the interaction. -No need for advertisers to speak us directly. -Instantly sharing recommandations and content with our friends
- Due to Technology, consumers have more choices, and fragmented, thus traditional media is not enough!
- Consumers have opportunity to filter out irrelevant messages.
- Consumers will demand more and more and exspress their dissatisfaction quickly when they dont get what they want.
- -Hasan Syed a technologically savvy British Airways customer, used promoted tweet functionality to share his sentiment and experience with a wide array consumers through Twitter. Promoted tweet quickly generated plenty of mentions via social media. British Airlines identfy the tweet and respond to Hasan with the following message: ‘ sorry for the delay in responding our twitter feed is open 09.00-17.00 GMT. Please DM your baggage ref and we will look into this’. They performed OK compared to other companies which never respond you on social media at all. -A customer care interaction is no longer oconfined to a phone interaction. -While busineses are increasingly incorpotaing social media within their multi-channel custmer interaction mix, most firms are still at the very early stages of etermining a social customer care strategy that works for their activities. 56% of brand dont even track social media conversations regarding their products an services Wikipedia, consumers can learn all there is to know about your company--not just about the external product but also about what goes into making it, such as product ingredients, business policies, executive compensation, and labor practices. Most Wikipedia entries for major corporations--such as McDonald's, Nike, P&G, Frito-Lay, and Coca-Cola--make it easy not only to find official statistics and facts about the corporation but also to link directly to third-party blogs, customer commentary, or other revealing documents. The Internet simply creates more exposure for companies and brands. Reference: http://blogs.aberdeen.com/contact-center-customer-experience-management/day-in-the-life-of-an-empowered-customer-leveling-the-playing-field/
- Before forging a strategy for communication, we should ask this question again to understand the layers and segments of our consumers. Is consumption a way to display Social Status nowadays? Of course it’s, but are we using the same ways of consumption or it has already shifted to another trend?
- Traditional Boundaries of social classes are getting dissappear. People are more in to search for new reference groups which results with fragmented crowds. Huge Change from physical status symbols to digital ones Smartphones enable to instantly show of one’s consumption to the whole digital society Platforms and tools that help the possessions look perfect online are very popular
- In the advertising and marketing world, for example, traditional and expensive billboard and TV advertising is no longer considered the optimal way to reach targeted audiences. According to Forrester Research, a leading Internet industry research consultancy, consumers in 2005 were 50 percent more likely to be influenced by word-of-mouth recommendations from their peers and other consumer-generated media than from radio and TV advertisements. Ford is finding that eight out of ten of its customers have already used the internet to decide what car they want to buy—and what they are willing to pay—even before they arrive at a showroom. In a world of information overload, consumers are finding the messages they want to hear for themselves – through Internet message boards, Web sites, podcasts, blogs or simply word-of-mouth. So, say the experts, companies must embrace these new media and not fight them, as the music industry did with Napster several years ago. The result of that fight was that, although Napster closed, many other free services took its place.
- It is true that the vast majority of people still go to shops for most purchases (though online sales continue to grow). Before doing that, however, most have used the internet. More than 90% of people aged between 18 and 54 told America's Online Publishers Association in a survey that they would turn to the internet first for product information.
- 1) Be Honest, Transperant, be ‘Authentic’, 2) Deliver Relevant Messages, get along with ‘Mobile’ 3)Digital Empowerement
- Fundamental Change going on; Beginning , there were commodities, you grow in the ground, made in the ground, then you exract them from the ground and sell them in open market place. It lasted untill the Millenium When it comes to Industrial Revolution, then goods became prodominant economic offering. Now the commodities are the raw material to be able to make or manufacture the goods. SO you move to Industrial Economy What then happened last 50-60 years, goods became commoditized. People did not care who did them, People care only 3 things; Price, Price, Price And Customization occur and turn the goods into the service. Because it was done for particular person, because it wasnot in inventory, it’s delivered on demand. But last 10 or 20 years, services are commodized as well. Even the internet commodized as services not as goods anymore. It means time to move a new economical value. Time to go beyond the goods and services. What happens when commodized service? Then ıt turns into Experience. So we are shifting to an experience economy. Our Experiences becoming predominant economic offerings. Experience; of drinking wine, walking in meaningful places.
- -Created in Vancouver, BC in 1995 from the vision of Jones Soda founder, Peter van Stolk, and photographer/designer Victor John Penner, Jones was launched with the idea of incorporating random photographs onto our bottles using shots taken by Penner. But when consumers began submitting their own photos, we quickly realized that user sourced participation made the brand even more special. -Our fans love the quotes they find under Jones Soda caps, which offer pearls of wisdom, advice, or simple daily pick me ups. Collected and shared through social media, our caps have become nearly as synonymous with our brand as our photos, and are part of what makes us who we are. And just in case you weren’t already aware, our caps can also be collected and sent back to Jones to redeem some pretty cool prizes. -The labels include striking black-and-white photography taken by customers themselves and sent in via the jonessoda.com Web site. Web site visitors vote on which photos will adorn the labels. Over the years, the company has received millions of images. -Customers can even order a 12-pack of soda featuring their own photographs on the labels. This Internet-enabled personalization has become a high-margin business for the company. Is Jones a soda company? An Internet company? A social-networking company?
- Two dimensions of the authenticity; 1: being true to yourself which is really self directed 2: other directed, be what you are say to others Business , are they true to themself? Other dimension, are they what they are say to others?
- Universal City Walk vs Disney World Unversal City Walk is Real Fake- unreal America, you can see behind it. It’s on city Los Angeles , You need to walk a lot, but is it true itsel? Disney World : Fake Real: It’s not magic kingdom , Disney World is wonderfully true to itself, when you are there you will emerge in this wonderful environment. Know what you have done in the past, understand past. Disney 10 or 15 years ago , best known for family values, they bough TNA network, Miramax – All families, son dont understand trust what they gonna take from Disney, So they were no more true to themself, heritage That’s why they are in trouble now. Understand what your past limit what you will do in future. 3 RULES 1- DONT SAY YOU ARE AUTHENTIC UNLESS YOU REALLY ARE AUTHENTIC 2- IT’S EASIEAR TO BE AUTHENTIC IF YOU DONT SAY YOU ARE AUTHENTIC 3- IF YOU ARE SAYING YOU ARE AUTHENTIC, YOU BETTER TO BE AUTHENTIC For the consumers summarizing , What will make us happy is spending our time and our money satisfying the desire for authenticity Reference Joseph Pine: What consumers want , TED speaks https://www.youtube.com/watch?v=2RD0OZCyJCk
- When it comes to what you are saying you are, easiest mistake companies makes; advertising things that they are not. That’s when you perceive this ‘Fake’. Think about any hotel, restourant, airplanes, when you check in the adds, you have great experience. Unfortunately, you have to experience actuall hotel airline or hospital then you have this disconnect. The one you should do, provide places to people to experience who you are. That what companies like Starbucks do. It doesnt advertising at all!You wanna know who we are, you have to come,and experience us, think about the economic value they have provided by that experience. Coffea made of beans, cost like 2-3 cents as a commodities. When you treated as good after grained, roasted and put it an package and shelf now it cost 5-10 -15 cents. But surround that coffea with unbiased of Starbucks, with an authentic theatre to going inside of there. Now because of that authentic experience you can charge 3-4 dollars for a cup of coffea.
- ‘Ben & Jerry's (now owned by Unilever) has built a loyal customer base by being authentic about its commitment to giving back to the community. In 1985, the company used profits to establish the Ben & Jerry's Foundation, which at one point donated over $1.1 million each year to environmental and social causes and distributes grants to community-based action groups in the state of Vermont. Ben & Jerry's also takes stands on various social issues (such as fuel efficiency, peace advocacy, and support for small-scale family farms) on its Web site, and the company upholds its strong commitment to social justice and the environment in everything that it does. This authenticity resonates strongly with consumers who buy Ben & Jerry's ice cream because they view it as some sort of bridge between earth and man. It also helps that the company Web site maintains the down-to-earth vibe and folksy sense of humor that pervade the company's products--after all, it's hard not to like a company that lets consumers design their own flavors and names ice cream after rock musicians. ‘ In a perfect example of why you don't mess with authenticity, when Ben & Jerry's once tried to bring in a "professional" CEO to drive further growth, the move backfired, alarming both faithful customers and its own executive ranks. After a year, the experiment was declared a failure and the CEO was fired. Reference “SATISFIED CUSTOMERS TELL THREE FRIENDS ANGRY CUSTOMERS TELL 3,000” By Pete Blackshaw