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Corporate transparency vs. sharing too much information

Corporate transparency vs. sharing too much information

Consumer access to information has placed the discussion of corporate transparency clearly before our eyes. This debate is about a company’s ability to be as forthcoming about their brand as possible, in order to gain their customers’ trust. An increasing number of companies are adopting a ‘full truth’ method for a few reasons.

In an effort to increase their public persona, several corporations have made efforts to improve their relationship with their customers. Patagonia, a popular outdoor apparel and equipment brand shows how it provides transparency for its customers.

Patagonia provides its customers with its Footprint Chronicles. This feature allows customers to track the environmental impact of each item sold by Patagonia. The brand offers interviews, PowerPoints, and more, which details the people and history behind the products. For those who are consumers of the brand and advocates for the earth, this feature allows them to be conscious about what affects their purchase will have on the planet. However, this is just one such brand going the distance to provide as much information about the product to the people who consume them. Other brands such as Chipotle and BMW also show a level of transparency with their customers.

 “How much information is too much information? At which point is transparency no longer a viable trait?”

How do you differentiate between transparent communications and tossing out a ‘wall of data’ to justify the request for openness? At what point do you defend your ‘corporate life experiences’ to justify the cost of proactive communication? Every person and corporation have a base of life experiences from which each has grown and learned.

If we were to expose all of our past ‘learning steps’ it could be easily argued that no one may find any one person or corporation attractive. Where do you draw the line between protecting critical competitive data and damage control?

With that said, how we communicate as we move forward is critical. This is an ethical question that every person and corporation must address as move forward. How will they communicate with others? It’s a huge “grey zone” with no defined answers.

Several large corporations are making the shift to transparency. As is so often found in communications, differing perspectives may help to provide a broader insight. Articles from Inc. and Forbes provide an interesting perspective that should be explored.

At the end of the day, how you address this quandary may be defined by a balance you discover between objectives. How do you open your business to your consumer, yet protect the company secrets and interests? Where and how do you draw the line?

Forbes writer, Daniel Newman put it this way “Your consumers will find this honesty so much more appealing than the smokescreen you try to hang over your shortcoming. They will not flinch from giving exactly what you are looking for: their trust and loyalty.”

Project performance and KPI’s

Project performance and KPI’s

Business Basics

The success or failure of any project can be measured if you keep an open eye and know how to measure your company’s performance. You must have measurable data order to understand the significance of any market action. Goals must be set as benchmarks of success or failure. These goals should be realistic and attainable. These measurable benchmarks are referred to as “Key Performance Indicators” or KPIs. These are items that “help an organization assess progress toward declared goals.”-TechTarget.

What is a KPI?

These measurements “are used to evaluate factors that are crucial to the success of an organization,” – TechTarget. KPIs allow organizations to measure the results of their campaigns. These items help to tweak current goals to better sell their product or service. Well set KPIs can determine the success of an organization. Simply stated – if you can’t accurately measure your established performance, there is no way you will be able to modify precisely those behaviors for growth toward your goals.

Differing from group to group

Because organizations in every industry vary, the KPI’s need to reflect those organizations must differ . Each KPI is relevant to a specific purpose. While the basic premise is the same, the goals for each team will be dependent on what the result needs to be. KPIs for a mobile marketing campaign can measure the lead generation and the capture of a customer, but those KPIs will differ from a hospital’s patient ER wait time. The goal of a KPI is to find the best possible way to gain success without spending enormous amounts of time, effort, and money to get there.

Why use a KPI?

When an organization thinks up a new idea, product, service, or campaign, the result and their needs goal has to be assessed. Which means, “before you start assigning KPI’s to everything you can think of, there needs to (be) a clear understanding of your business objectives and strategic directions,” Intouch Marketing. Organizations must ask questions before, during, and after the launch of the campaign to determine the importance of their KPIs.

For KPIs to be successful, an organization must know how to translate the data. “If management cannot translate the importance and understanding of the businesses KPI’s to their employees effectively, they will most likely fail,” Intouch Marketing. Management must be able to quantify the statistics to their employees, so those individuals can execute the campaign to drive success.

Success is something that every organization wants and needs. Measuring KPIs is a key tool to reach those achievements. Organizations must always have an action plan for end results whenever initiating and executing something new into the mix. Otherwise, not setting goals will inevitably end in failure. Be wise and use those KPIs!

If you need guidance on measuring your corporation’s growth and performance, contact Colure’s Project Managers to help you define your next step for corporate growth.

Set your mobile marketing strategy on fire

Set your mobile marketing strategy on fire

When you want to set your mobile marketing strategy on fire, you have to understand your audience. You have access to your customers in an instant through the use of SMS mobile marketing. This is a powerful tool, once you learn how to unleash this power your marketing efforts will show significant results. Whether your business is small and just getting started, or you have numerous locations, you can develop a mobile marketing strategy that reaches customers and boosts sales both online and in person.

Your Opt-In Texting Campaign

You need to develop an opt-in campaign that allows you to send marketing text messages to your customer base. Customers sign up, either in store, through a text, or through email. Once they opt-in, you are allowed to send text messages. The messages must contain language that makes it clear how to stop receiving messages to comply with regulations. You can send customers texts about time-limited deals, send links to your blog content, and offer insider information to your business through text messages.

Make Sure Your Website is Ready for Mobile Use

How your website is designed matters. Optimizing your website for use on mobile devices is essential when you are trying to improve your mobile marketing strategy. There’s no point of getting customers to visit your website if it isn’t easy to navigate on a mobile device.

Develop an App for Your Business

Smartphone users love apps when it comes to interacting with a business. For example, opening up a Dunkin Donuts app, the customer can drive up to the window, order a coffee, and then pay just by having the app on their phone scanned. This makes purchases for the consumer easier using their mobile devices. It takes time, effort and money to develop an app for your business, but the payout is worth it.

Allow Shoppers to Pay With Mobile Devices

When you make paying for your goods and services easier on your customers, they aren’t going to go somewhere else to make the same purchase. This means you need to set up a way to accept mobile payments. This is done by finding a payment processor that can accept payments on behalf of your business for a nominal fee. Look around to find the right provider for your specific needs.

Engage on Social Media Platforms

When you want your mobile marketing strategy to work, you have to engage on social media. Facebook, the number one social media platform, offers businesses a variety of tools to engage with potential customers. You will need to build up a base of followers, but also provide relevant content to your followers. Whether you create links to your blog, or you have great deals you want to share, they won’t mean anything if the posts aren’t seen by anyone. To engage your customer base, ask thought-provoking questions, reply to all comments, and be mindful of what you share on a daily basis. Keep changing up your strategies and try different deals to see what works.

 

Author Biography:  Joel Lee is the SEO marketing specialist at Trumpia, a mobile content delivery service that allows users to customize their coordinated marketing efforts by interconnecting and optimizing all digital platforms.

Exploring the consumer purchasing journey

Exploring the consumer purchasing journey

The traditional purchase decision process has been transformed into the new buying decision journey. What used to be a narrow funnel of steps taken by the customer to reach an investment decision, has evolved into a circular path that takes into account diverse consumer experiences. The purchase decision journey has been compressed, but this compression does not mean that the trip is now simpler. In fact, it means just the opposite due to today’s technology that has evolved within the purchasing cycle. It is a series of consumer experiences, without a defined beginning or endpoint.

The purchase decision journey described by McKinsey begins with consideration, followed by evaluation, then enters the continuous cycle, also known as the loyalty loop. The components of the circuit include the purchase, experience, advocacy, and the bond, which will lead back to the acquisition. The cycle will repeat in a never ending circle, until the consumer leaves. A marketer’s goal is to lock the customer into the loyalty loop. To do this, marketers have to forget about traditional strategies and now must proactively personalize the consumer’s next step in the purchase decision journey.

The mission has changed for consumers and companies. For consumers, McKinsey proposes that the systematic narrowing of the initial consideration set no longer occurs. This is a result of businesses taking advantage of the purchase decision journey. Many companies who understand the buying decision journey have eliminated the steps of consideration and evaluation that consumers would typically undergo. Marketers can optimize competitive advantage by using automation, proactive personalization, and contextual interaction throughout the journey to create and maintain loyal customers.

Advertising and promotion alone cannot suffice with the recent purchase decision journey in existence. To reach success, companies must come to this realization and work toward innovation. As the presence and utilization of marketing, media expands, companies’ approaches must change to reach the consumer before the journey begins. The efforts of marketers do not stop there; it is necessary for them to continue to engage with the customer throughout the cycle to create a personalized experience.

Lastly, communication has shifted into a conversation. Originally, marketers were the sole communicators and consumers were the receivers. A relationship between marketer and consumer has now formed because of the presence of two-way conversation that replaced one-way communication.

The path of the consumer purchase decision is no longer a process that comes to an end. Rather, it is an endless journey. Where the buyer steps on or steps off is unknown. What is known is that the marketer can no longer take the consumer for granted.

Geofencing in mobile applications

Geofencing in mobile applications

Allowing a mobile device to recognize environmental elements can truly make an application dynamic. Because consumers live and breathe by their mobile devices, having environment-awareness available in mobile devices keeps users on their toes and engaged in their environment. This concept is called geofencing, also known as context awareness. 

Awareness of their physical environment for mobile applications brings more depth and attractiveness to an application’s user experience or UX. It engages the user by sending individually tailored data to their phone based on their geographical location. This plays a critical role in executing in-app mobile marketing and mobile app retargeting campaigns. 

Context awareness is a property used in mobile devices to identify where the user is using an application and how that might affect what the user is doing,” – Matt Carver at Bigspaceship.

In a context-aware environment, wireless devices such as environmental sensors, radio frequency identification tags, and smartphones send location, presence and other status information across the network. Specialized software captures, stores and analyzes the data, sending it back over the network to provide context to the end device as needed,” – Computer World. Having a mobile device react to its environment and offer advertising suggestions in terms of retail therapy or even a coffee shop facilitates the needs of each user.

Goals of context awareness

The ultimate goal of a context-aware system is for the system to arrive at a representation of the surrounding world that is close to the perception of the user,” – Interaction Design Foundation.

The layering of data allows the use of time of day and GPS coordinates to create a customized, ever-changing source of space and time relevant content for the consumer. They might provide breakfast suggestions in the morning, clothing suggestions relevant to elevation and weather, and locations for cocktails in the evening.

Geofencing is the ability for a mobile device to pinpoint the context of the user’s geographical location. “Context-aware applications look at the who’s, where’s, when’s and what’s (that is, what the user is doing) of entities and use this information to determine why the situation is occurring,” – GA Tech.

Challenges of context awareness

Mobile devices allow consumers to always be connected to the world around them. These connections can have difficulties. Computer World sheds light on challenges involving context awareness. One challenge of context awareness is privacy issues. Because context awareness uses data from the mobile device as well as environmental data, data breaches can occur. Being able to balance the security risks against the rewards is something that will be answered in time.

Geofencing is an interesting feature for mobile devices and applications. This functionality advances the capabilities of the smartphone for the specific user’s advantage. By having a more dynamic experience with your mobile device, it is no wonder that consumers fill every moment of the day looking at their phone. Advertisers and marketers will continue to take advantage of this desire for customized content and hyper focus audience targeting.