Tagged 'buying experience'

It’s Not You, It’s Not Me, It’s the Industry. Breaking Up is Hard to do in Digital Ad Land

Posted by Marc Mallett on September 13th, 2012 at 8:07 am

We’ve all been there, on both sides of the phone or Inbox.  She won’t stop calling, he won’t pick up.  Are my emails going to the Junk Folder?  Another email from him – Delete.  I’m not talking about singles asking for second dates. I’m referring to the proposal dance agencies and ad sellers play in this crowded marketplace.
Be it a factor of too many companies chasing the same digital budget, the almost inhumane time-constraints on buying teams, or a lack of resources all around, it feels like there’s a communication problem at the end of the sales / RFP / proposal process in digital media.
One common topic that usually comes up over a casual lunch or happy hour is the lack of business etiquette or manners from both sides of the sales aisle when it comes to the final part of the proposal process. The buyer perspective is something like this:  “An RFP is not a promise of business, I’m sorry you didn’t make the plan this time – just wasn’t a fit - but if you continue to hound me and fire emails into the client there likely won’t be a next time.”  The seller perspective is generally looking... Read more

The Social Buyer Engagement Index

Posted by Tony Zambito on October 5th, 2011 at 10:18 am

Image by Ross Mayfield via Flickr
In my recent article, The Ascent of the Social Buyer, I made mention that social buyers today were exhibiting an internalized Social Engagement Index.  The mention of a Social Engagement Index is not new.  The people at Alterian have talked about a Social Engagement Index (SEI) as well as a Social Sentiment Engagement Index (SSEI).  Recently, Brent Leary and John Hernandez offered a perspective for The Social Customer in a report called The Social Customer Engagement Index 2011.  The report focused primarily on how companies are leveraging social tools and technologies to reach and engage customers in customer service interactions.  It also pays note to how satisfied customers are with these interactions.
My mention of a Social Buyer Engagement Index is coming from a different direction.  In my anthropological inspired studies, the interest has been on the value buyers today are placing on the ability of companies to provide social engagement capabilities.  It is asking the question: are buyers today evaluating a company’s social engagement capabilities as part of the overall buying experience as well as social experience?  Although in an embryo stage with further research warranted, I think we are beginning to see the emergence... Read more

Social Buyerology: Understanding Buyers in the Social Age

Posted by Tony Zambito on August 17th, 2011 at 9:05 am

Image by aafromaa via Flickr
The pendulum has been swinging rapidly during the past two years with respect to understanding buyer behavior and interactions in the social age.   What we know for sure is that the dynamics and interactions between businesses and buyers are undergoing their most significant transformation in many years and decades.  How groups of buyers as well as individual buyers are interacting with each other and with sellers continue to metamorphosis anew monthly redefining our knowledge of how buyers make decisions today.
We are also witnessing the phenomenon of buyers in B2B marketplaces becoming more social in their interactions.  This phenomenon is fueled by the advent of social networking technologies that enable buyers to interact with selling businesses and peer buyers.  The degree of interactions amongst buyers, both at a group and individual level, is most likely at the highest levels in the history of B2B selling and buying.  This phenomenon is causing turmoil in the rank and file infrastructure of B2B Marketing and B2B Sales.  We are seeing the births of new technologies and processes, such as content marketing, inbound marketing, marketing automation, and social media technologies attempting to address the voids created as B2B businesses shift their... Read more

Study Reveals: Shift Spend to Improving the Buyer Experience

Posted by Tony Zambito on April 20th, 2011 at 7:04 am

Image by mia! via Flickr
According to a recent Satmetrix Net Promoter study, one in five consumers switch brands based on a bad buying experience and/or bad customer experience.  Satmetrix, in their 2011 Net Promoter Industry Benchmarks study, conducted surveys with over 20,000 consumers.  What they found was that approximately 22% of consumers stopped doing business based on a bad customer experience.  The study also found that the number one source of trusted recommendations came from family, friends, and colleagues with a majority very willing to share their buying and customer experiences.  Consumers surveyed further showed that they put more trust into what their friends and colleagues shared than in advertisements or content.
What I found most interesting is that a whopping 83% trusted independent sources with which they had a personal relationship over advertising or content.  Family, friends, and colleagues made up the majority of these independent sources.  However, the impact of social media and the digital age is becoming evident in this study.  Nearly 20% of those surveyed indicated they engaged in the buying behaviors of researching online product reviews and other buyer opinions.  This will undoubtedly grow over the next decade.
The Satmetrix study also showed that buyer experience interactions were... Read more

The New Buyer Experience Economy

Posted by Tony Zambito on April 12th, 2011 at 11:55 am

Image by davidking via Flickr
In the past decade, we have undergone a monumental shift in how sellers and buyers engage.  The digital revolution has ushered in a new age of how products or services reach people that were unimaginable just a short ten years ago.  Advancements in technology and digital media coming in waves causing organizations to be caught unaware of the impact the totality of these waves have had on their businesses.  In many ways, buyers and sellers are attempting to engage as if they are in a department store and sellers are on the down escalator and buyers are passing them by on the up escalator.   This is most notable in the B2B spectrum of marketplaces.
In 1999, B. Joseph Pine II and James Gilmore published The Experience Economy: Work is Theatre and Every Business is a Stage.  A truly groundbreaking book that made a lasting impression upon me around the same time persona development was taking shape.  Pine and Gilmore can be characterized as oracles for they offered the premise that we were entering an experience economy where value was created by staging memorable experiences for customers.  Many successful B2C entities, such as Disney, leveraged the principle of... Read more