Can Your Company Benefit from Social Networking?
August 31, 2009
Should your company use Facebook, Twitter or Linked in for reaching out to other companies or buyers online? Could 
using these venues really be a way for a company to effectively reach out and market their product or service and make a name for themselves?
Social networking is without a doubt a very valuable tool that brings the right people, to the right places at the right times. You never know who you’re going to meet on different social platforms that could be a boost to your business, or an invaluable resource in your marketing efforts.
I love the analogy that Chip Hanna over at Business Press gave about how integrated Twitter is in our daily lives, both personally and professionally. It is true that these social networking sites are an integral part of connecting and finding connections, but is there a real benefit to it?
Without rehashing content already on the web, Mari Smith over at WhyFacebook.com lists 10 good reasons why a company or business individual could use Facebook. Do you see yourself in any of those scenarios? And so as not to alienate Twitter, Chris Brogan wrote a very meaty article on 50 Business Ideas on Using Twitter.
Social networking is a very viable part of any business, large or small. It is almost required that an online business have some type of connection in the social realm and make it work for them. It by far is one of the few, almost guaranteed methods to grow and maintain a successful business online. What do you think?
Green – Not the Same to Everyone
August 31, 2009
New research from the Shelton Group tells us that the term ‘green’ can mean very different things to different people as it applies to consumer behavior. The result — brands need to market to these consumers very differently. In other words, the subsegments of consumers that make up the environmentally-conscious audience are diverse and highly nichey. In other words, one message does not fit all when it comes to green branding and marketing.
Basically, the study reminds us of something we should already know. Just because a person claims to be environmentally conscious doesn’t mean that every aspect of his life and buying behavior is guided by the green movement. The truth is, only a subsegment of the environmentally-conscious audience will forego comfort to actually be more environmentally conscious. According to the study, 77% of the 1,000 consumers surveyed reported that they purchase green products occasionally, but of that group, only 26% of them claimed they would reduce their energy consumption “to lessen their impacts on the environment” while 77% said they tried to reduce their energy consumption to “reduce their bills and control their costs.”
There also appears to be a gap in thinking when it comes to the terminology brands might use to market their products. According to the study, 72% of respondents claimed to be interested in owning an energy-efficient home, but only 47% were interested in owning a green home. Read more
Convenience Trumps Price for a Growing Group of Consumers
August 28, 2009
A new report from The Integer Group and M/A/R/C Research sheds new light on a growing shift in what’s most important to consumers these days. According to the study’s results, 28% of consumers surveyed in June 2009 admitted they are willing to pay more for products and to shop at stores that offer greater convenience, speed of service, and so on. That’s up from 23% in May 2009. While you might think that given the state of the economy, the opposite would be true, the report tells us there is a growing audience of consumers who are so busy that even during difficult financial times, they’ll pay more for convenience.
The statistics make sense. Regardless of how tight consumers’ finances are, for many people, time constraints are far worse. With that in mind, one-stop-shopping stores are again becoming the focus of consumers’ sites. Speedy check out at retail locations, clean stores, and having the items consumers want are some of the top factors that make the 1,200 consumers surveyed in this study choose one store over another.
However, don’t be completely misled by these results. 60% of respondents still cite high price as being the reason why they opt not to shop at certain stores. Interestingly though, stores not having what consumers need is nipping at the heels of high price with 59% of respondents citing that as a primary reason why they don’t shop at certain stores.
So what does this survey teach us in terms of branding and marketing trends? First, there are opportunities to be leveraged in terms of luring consumers to your brands by making them convenient. Think of how you can make your brand more convenient. Could you offer it through more convenient distribution points or in more convenient sizes? Can you speed up the purchase process? Can you tie in installation or other services that will save consumers time? Think out of the box and get creative!
Second, the first thing everyone tries to do when times are tough is lower prices. Even if you aren’t the first brand to lower your price, soon your competitors will, and you’ll feel like you have to as well. Don’t be pressured into lowering prices unless doing so is truly the only way to keep your brand competitive. Instead of jumping to lower prices, consider other options. For example, think of how you can make the convenience opportunity work for your brand. According to this study, over 1 in 4 consumers are willing to pay more in exchange for added convenience. Become the convenient brand!
Image: Flickr
UniCredit Group–Homepage and Integrity
August 27, 2009
Seems that more companies are using their homepage to grab visitors. I found this to be the case for Italy based UniCredit Group.
UniCredit packs the homepage with effective content–
- Right on top are hard to miss testimonials. These are one of the most effective methods to establish credibility.
- Access to press releases and news is available.
- Share price and chart.
- At the bottom, a series of links to what the company is doing to help clients and strengthen their financial base.
- And finally a link to one of the best “at a glance” sections I have seen.
Well done. Next the About Us page–
Before getting to the comprehensive About US menu on the upper left, you see a strong corporate statement and a signed CEO letter. This is another effective website technique–prominently displaying the top manager with a short message enhances the the idea that the company is interested in the needs of visitors.
Next a visit to additional sections of About Us. I found the Values section to be unique –
Items of note–
- Note the value chain of linking values to stakeholders, first time I have seen this technique
- Integrity is a key element of the Values proposition
Also on this page is a further explanation regarding how the Values are related to stakeholder groups.
The Integrity Charter, as noted, is amply used in the discussion of Values. On The Integrity Charter page is –
With the aim to guarantee the proper application of the Integrity Charter, we have designed the Restorative Justice System. This System promotes individual responsibility and the voluntary resolution of matters between parties and it is supported by a Groupwide “Ombudsman” network that works to resolve matters in which the Values of the Integrity Charter may have been compromised.
The Ombudsmen are internal appointees completely independent who report directly to the Group’s Chairman, and they are responsible for assessing the validity of the claims in each case.
Every year all people who work for UniCredit Group are involved in the Integrity Charter Day, the annual Group event devoted to remember and discuss about the importance of the Integrity Charter and of its implications in every day working life.
Note the Ombudsman approach and the Integrity Charter Day. Now that is how to implement integrity. The Integrity Charter is only available as a PDF but is well worth a read. Within this document is a benchmark display of associating values and integrity to stakeholder groups–
I’ve seen enough and am ready to do business with UniCredit Group.
Diageo: Now if They Could Just Do Something About the Name…
August 27, 2009
Today I am continuing two themes from recent posts: I am continuing to visit and comment on investor relations sites of FTSE 100 companies, especially their main IR page, and I continue easing back into the workaday world following my recent bicycle trip by visiting the site of another leisure company, Diageo. During long, hot bicycle rides one becomes very focused on “hydration therapy”, particularly if alcoholic content is involved. And Diageo, in its Guinness brand, produces a product that not only hydrates you, but also supplies enough calories to fuel you for the next 20 miles.
I was actually quite pleased with the Diageo main investor relations page. The design of the page was simple and allowed you to find what you were looking for without a great deal of hunting. The links on the left took you to where you expected to go, the center of the page highlighted the most important links and the stock price was clearly featured on the right hand of the page. The only thing I might add to the main page is a mini stock chart which would give the investor a quick snapshot of the stock price movement over a period longer than the current trading day.
When I browsed around the pages linked to the main page, I was able to find pretty much what I was looking for with a minimum of fuss. The design was spare, with no pictures or logos (as compared with the Cadbury site), but the information you need was there. Overall, a very efficient site.
As a sort of investor relations critic-at-large, it kills me not to find any glaring fault I can focus on, but I have to admit, the investor relations information on this site is well done, even including transcripts from some of their presentations. Except for one thing… as an American, I’m basically monolingual, and I can’t figure out how to pronounce Diageo. Do you think they could change their name?
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