Failure Mode and Effects Analysis (FMEA)
All products and services fail! Even the processes which have already achieved six sigma precision fail. However considering the possible sources of failures, the effects that they are likely to have and how prioritizing failure modes makes the product, service, process plan more robust. Considering possible failure modes and integrating them into the design goes […]
Dutch Auction
Book building has been one of the most widely used methods in the underwriting process. However, over the years, companies have realized that the book-building process is largely controlled by the intermediaries, i.e., the investment banks! The investment banks are the ones building the books. Hence, they can easily control who gets in and at […]
The Importance of KYC (Know Your Customer) Norms and Procedures in Banking
Follow the Money Trail In recent months, there has been a spate of disclosures around the world about how banks are compromising on customer identification procedures and are indulging in money laundering and other unsavory activities. From the US to India and the shadow banking system around the world including China, regulators have realized that […]
Do Reforms drive International Businesses or International Businesses drive Reforms ?
Reforms driving International Businesses or Vice Versa? It is debatable whether the reforms in emerging and developing markets drive the entry of international businesses into those markets or whether the international businesses with their strategies drive reforms in these markets. Of course, the bottom line requirement for any international business to enter the emerging markets […]
Introduction to E Commerce and Internet
We are living in the age of technological advances. Development in our society began to happen post the World Wars, where in Industrial revolution started changing the face of economies. With evolution of Information Technology we first heard the Radio and later the TV that could capture pictures from the air and show it on […]
There is so much happening on the Social Network Marketing scene that Companies now have no option or choice but to be present in these channels. If you are planning to introduce a new product in the market or to build your brand image or reputation, the most preferred option available today happens to be the Social Media Channels.
It is true that you do not have an option but to take part and interact with your customers through those Social Media Channels where they are present. However the medium consists of a whole lot of platforms and channels that can be classified under Social Networks, Social Content and Social Interaction channels.
To build an effective marketing communication strategy you would need to be present not in any one but in multiple channels depending upon the presence of your customers.
Blogging happens to be one of the easiest and simplest methods of establishing rapport with your prospective and existing customer base. Blogging includes several categories including personal blogs, Company Blogs, Micro blogging, Photo/Video Sharing and Podcasts.
Blogging provides one of the easiest, fastest and direct ways of interacting with your audience. By creating and writing your blog, you are able to tell your customers and audience the things that you wish to tell about yourself, your product or service and your company and invite them to share their opinions and feedback etc.
Blogging is an initiative from your end and you can choose the amount of time and attention you wish to pay to your blog and build social interactions. Blogging gives you a chance to elicit fair and frank discussion and opinions from the audience and community that is definitely interested in you and your product.
Blogging is not only about you talking about yourself and your product. You will get to listen and understand all about your customers too.
Blogging also provides you with the opportunity to listen to your customers, to understand their expectations, their experiences as well as their feelings etc which can give you substantial insight into your own business or product and the way forward in your business. You can manage to cultivate a very close relationship with those who are able to provide you with honest feedback and build a loyal base too.
The concept of blogging works different when compared to the other mediums that you use for advertising. In blogging, you are marketing to the customers but not through direct advertisements and one sided messages, but more importantly by listening to your audience, building a relationship with them, taking their feedback and trying to improve your product offering and services.
You can use this medium to enhance the value that you provide to your customers. Using this medium involves listening and engaging customers in conversation as against direct advertising. Needless to say that you would need to match up with product performance and service delivery to match with the customer expectation and keep up your promised delivery too.
One of the rules that you have got to remember and follow at all times while blogging is to be transparent and open with information. If you are seriously interested in building a long term profile and reputation, it is best to avoid ‘paid blogging’ as many of the Companies do.
It is better to remember that the blogger community is smart enough to be able to distinguish actual blogging from paid blogging. Any such issue can result in negative publicity which is to be avoided at any cost.
Remember at all times that it is best to be open and transparent about the facts regarding yourself and your business at all times. It helps to give your profile details and get your audience to know you as a person. Such transparency helps build your image and reputation online.
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