'Word of Mouth' Category

Selling Your Personal Data: Is It Worth It?

Posted by Neal Leavitt on July 20th, 2014 at 3:00 pm

Last year a student at New York University threw out an interesting challenge – via a Kickstarter campaign, he offered to divulge 60 days worth of private data gleaned from his digital devices.
He raised $2,733 from 213 backers.
And earlier this year, a research team at the University of Trento in Italy reeled in 60 people and their smart phones to participate in an experiment that recorded various personal details and created a marketplace to sell the data. These included phone calls, apps being used, time spent on them, photographs taken, and users’ locations 24/7.
Each week, as reported by MIT Technology Review, the participants took part in an auction to sell the data, e.g., they might want to sell a specific GPS location or total distance traveled, or locations visited on a given day.
While reporting all results could be the topic of another post, in brief, Jacopo Staiano, who headed up the research team, said there were a few key findings:
• Location is the most valued category of personally identifiable information;
• Participants valued their information more highly on days that were unusual compared to typical days;
• People who traveled more each day tended to value their personal information more highly.
Almost 600 ‘auctions’ were... Read more

Social Media Helping Level the Playing Field for Craft Breweries

Posted by Neal Leavitt on June 29th, 2014 at 8:14 pm

Craft breweries have produced scores of award-winning beers over the years and according to the Houston Chronicle, will garner sales of over $7 billion nationwide in 2014. But just having a tasty ale or lager is no guarantee these days for long-term business success as the gigantic ad/marketing budgets of the major breweries can drown out craft breweries attempts to snare market share.
“The number of new craft breweries has exploded in the past few years and the market is getting crowded,” said Melani Gordon, who co-founded San Diego-based TapHunter. The company provides on- and off-premise accounts with time- and money-saving tools that automatically update beverage inventory on social media channels, websites, and print, digital display, and tablet menus. This exposure empowers their customers by helping transform beer, spirits, and cocktail menus into valuable revenue producers.
Gordon said those craft breweries that don’t put some serious thought behind their brand and voice will struggle.
“There’s no magic formula for craft breweries to find consumers so the new breweries need to build a brand and web presence because it’s challenging today to stand out,” added Gordon. “In addition, there are a lot of inefficiencies in the retail distribution model, making it... Read more

5 Ways to Retain Loyal Customers During Growth

Posted by Jeannie Walters on June 17th, 2014 at 2:21 pm

Are you alienating customers as you scale?
Business growth is often considered relative to customer acquisition. More new customers = more growth. Growing businesses implement more metrics to track this growth. But what about specific B2B customer retention strategies? During growth, it becomes even more important to track what not only attracts new customers, but what helps you retain the customers you have.

Our infographic shows how easy it is to lose sight of real customers and their needs as you scale your business.
Don't just grow, grow with your customers.

When scaling any business, there are likely to be changes some customers simply will not care for, and you're bound to lose a few of them along the way. But there are ways to make sure you'll have a better chance at keeping those customers while gaining some valuable insight as you move forward.
Here are 5 B2B customer retention strategies to implement during growth:

1. Pay attention to how customers behave.
Customers, especially when interacting with other people, are apt to behave in ways that are contrary to what they have told you. Watch how your customers are behaving. Are they renewing contracts? Are they upgrading their services? Use these objective measurements as guideposts... Read more

Google Data Protection Opinion May Ruffle Feathers of Businesses Worldwide

Posted by Neal Leavitt on May 30th, 2014 at 6:43 pm

A non-binding opinion handed down earlier this month by the Luxembourg-based Court of Justice of the EU (CJEU), the European Union’s highest legal authority, is roiling the business community. While the opinion needs the approval of all 28 EU governments before it can become legally binding, there’s already a lot of online chatter about the potential blowback to businesses operating in the EU.
The case followed complaints in March 2010 from Mario Costeja Gonzalez, a Spanish lawyer, who said that when Google’s search results revealed details on an auction of his repossessed home in a local newspaper (La Vanguardia), it infringed on his privacy rights.
CJEU ruled that people have the “right to be forgotten” and can ask Google to remove some sensitive information from Internet search results. Tech companies, noted the Financial Times, fear it may be “the beginning of a broader assault in which Google would be regulated like a utility.” Or to use an oft-used English idiom, it could be “the thin end of the wedge.”
No surprise then that organizations and associations from all walks of life are now weighing in with their two bits/bytes.
“Individuals may now have the ability to essentially go in with a... Read more

Report: Beauty Brands on Instagram

Posted by Doug Schumacher on May 29th, 2014 at 4:22 pm

As our recent report “7 Brands Generating More Engagement on Instagram than Facebook” highlighted, brands are definitely connecting with their audience on platforms outside Facebook.
This reports delves into the beauty category. Looking at how activity compares between Facebook and Instagram, and what brands are doing to success on Instagram. The report compares ten top beauty brands across 6 social networks: Facebook, Twitter, YouTube, Google+, Instagram, and Pinterest.
Highlights

Facebook is the dominant social network in terms of fan count: Average of 72% of all communities reported on
Instagram is only the 4th largest community based on industry average.
Industry-wide, 77% of all social content engagements are happening on Instagram. Facebook garners 27%.
NYX, the brand with the smallest overall fan count, has the most overall engagements (97% of those engagements happened on Instagram.)
Engagement rates for the top industries are: Facebook = .13%, Twitter = .019%, Instagram = 3.14%

The brands analyzed are Chanel, Clinique, Covergirl, Dior, Estee Lauder, L’Oreal Paris, Mac Cosmetics, Maybelline NY, NARS Cosmetics and NYX Cosmetics. Those ten brands were selected from a larger pool based on their overall social media community size.