Needless to say, GM has been in financial turmoil for a long time. In addition, pressures from investors- who forever consider only their own short-term gains- have forced them to become a very different company than they were a decade ago. What drove their early success was a corporate focus on improving the quality of their vehicles and services; now, they've shifted that focus to the quality of their quarterly earnings reports.
Recently, they invested a good sum of money to manufacture and market their renowned OnStar systems, à la carte for installation on all vehicle brands. Of course, this was in an effort to maximize profit sources by increasing the width of their product offerings.
At the same time though, they take away from the depth of their product experience. While producing OnStar à la carte may raise profits for a little while, allowing all car brands to have the sense of security that is unique to GM, takes away a huge differentiating factor for the struggling company. This was one of the few aspects that were definitively different (in a positive way) in GM vehicles; it was an excellent piece of technology that improved the brand’s experience exponentially.
Now, they are selling this beautiful innovation. Too often, companies favor short-term profits over long-term brand equity and this is what has happened to General Motors.
Showing posts with label branding. Show all posts
Showing posts with label branding. Show all posts
Wednesday, August 17, 2011
Why GM's Latest Product, OnStar For My Vehicle is a Marketing Disaster
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Labels:
american,
branding,
cars,
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experience,
safety
Saturday, August 6, 2011
How to Respond to Positive Feedback through Social Media
For an entrepreneur, there is nothing sweeter than the feeling of positive feedback, especially through social media. But don’t get caught in the moment. Positive feedback is an opportunity to advance your brand even further, in the eyes of both the reviewer and the general public. This is your chance to turn fans into fanatics and transform brand loyalty into the coveted “loyalty beyond reason”.
Thank the Reviewer
After all, they probably just augmented your profits by one or two percent.
Engage Him or Her Even More
Start an entire conversation with them by prompting them to talk more about themselves and their idiosyncrasies. Ask questions that they would be proud to answer. Here is a link to a great example of an exchange between a positive reviewer and a fine Italian restaurant. I highly recommend that you take a look at it.
This sort of conversation can go on for several days back and forth. Also, in addition to engaging this particular customer, through this conversation you gain valuable insights into how to improve your own restaurant experience. And as you begin to see commonalities in the people who praise your brand, you can better target your marketing toward a particular niche.
One day, maybe you’ll come across a million-dollar conversation where somebody gives you the suggestion that can immediately drive your brand to the top. That’s the ultimate reward for the fifteen minutes per day that you spent responding to feedback.
Give Out Tokens of Appreciation to Reviewers
First of all, this should only be done occasionally so your costs are not too high and your fans do not come to expect rewards. To add, these can just be coupons or small gift certificates; there is little correlation between the extravagance of these gifts and how loyal they will be. However, do not expect them to tell their friends about your brand, in exchange. Do not ask for anything in return. Period.
Do Not “Feature” the Feedback on your Facebook Page
This is not only pointless (the post is already public), but comes off as desperate. If you are using Twitter, occasional re-tweets of positive feedback is OK. On the other hand, there is nothing wrong with motivating and praising employees by sharing the feedback with them during meetings or presentations.
As soon as you apply these principles, your brand loyalty will skyrocket.
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Thursday, July 21, 2011
How to Ignite Word-of-Mouth for Your Brand on Facebook and Oher Social Media
One of the most attractive facets of Facebook marketing campaigns is the massive word-of-mouth potential. However, a vast majority of promotion on Facebook does not take advantage of the most efficient platform for sharing, in the world.
To figure out how to spur sharing, we can go back to the roots of why Facebook is so addicting. We love Facebook because it is an opportunity to show our true colors to a network of people who are interested in them. If you have Facebook, you know what you share: status updates often detail your accomplishments of the day, you might post your child's graduation photos, and you may put your political or religious views in your information section.
The common denominator of all these items is that you are proud to showcase them to the world. Why do people spend time filling out their favorite bands, movies, and athletes on their profiles? Because they're proud to show how unique and special their preferences are.
Clearly, the best way to trigger word-of-mouth on Facebook, is to position your product in a way that your customers can be proud to use it.
Nike + iPod (a device that tracks and shares running statistics) users are proud to share the fact that they are avid users because it gives them the image of being fit and determined.
Meanwhile, charity donors love to flaunt their generosity and restaurant-goers like to show off their good tastes.
All of these people would take pride in sharing their love of a specific brand on Facebook. How can your brand make customers feel the same way?
For more posts on promoting social media buzz, go to the sharing portal.
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Sunday, July 17, 2011
This is Not Your Average Social Media Marketing Blog
The blogosphere is teeming with publishers who rave about the power of social media marketing. By starting this blog, I just become another voice in the mega-choir of twenty-something upstarts, Facebook addicts, and self-proclaimed marketing experts, all singing roughly the same tune.
Thousands of paraphrased articles basically say the same thing: social media will revolutionize the way we do business. That sounds sort of familiar, doesn’t it? Satellite radio was supposed to revolutionize the radio industry. Ethanol was supposed to revolutionize automobiles.
Heck, the Shamwow was supposed to revolutionize the world.
However, unlike other bloggers, I don’t think of social media marketing as a “revolution”. More like another handy weapon to have in a branding arsenal. And more importantly, the purpose of this blog is not to make you salivate over how amazing social media is.
Instead, this blog is a no-nonsense entrepreneur’s guide to actually using social media to build your brand. This blog is for the ambitious innovators who dream of creating “the next big thing”. I know you have the creativity and I know you have the commitment; all you need is that little spark to ignite your idea.
I hope you use the ideas I talk about to get the brand advocates you need. See you at the top.
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