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Wednesday, July 6, 2011    

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     OUR TAKE -  The WOM Plateau

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In the last few editions, you have read comments from CRMAdvocate readers who believe the results of the study that word-of-mouth opinion sharing (WOM) is declining. And they believe the reason is the economy (also read more PBJ, less WOM). And you have heard from others who don't agree (see the WOM shift, the WOM evolution, and normalization of WOM).
 
Along the same line of thinking, another said, "While I can understand the economy having a minor impact, I think perhaps we finally plateaued. People are getting tired of Tweeting and FB'ing and everything else'ing, all day every day. The Average Joe's ego is diminishing - and people are simply reclaiming their normal lives (it takes a significant chunk of the day to do all this stuff!). It's an automatic adjustment between the old world and the new world, the fine line, the balance - it's happening - and not before time in my personal opinion."
 
The collective CRMAdvocate community believes the emergence of online product reviews is one of the most common reasons we have seen a decline in word-of-mouth customer opinion sharing. Many people wrote they never make a major purchase without reading online reviews.
 
That's their take. Do you agree? What's your take? Tomorrow, I'm going to share a different thought on why we are seeing a decline in WOM. Stay tuned . . .
 
    .   .   .   .   . Gary Lemke, Chief Customer Advocate    

   
Recent Editions of CRMAdvocate


07.05.11    Normalization of WOM
06.30.11    The WOM Evolution
06.29.11    The WOM Shift
06.28.11    More PBJ, Less WOM
06.27.11    It's the Economy
06.23.11    Will We See a WOM Comeback?


 
Lasting Impressions:
Happiness can be defined, in part at least, as the fruit of the desire and ability to sacrifice what we want now for what we want eventually. - Stephen Covey
 
 

  What's New in CRM

The Six Most Common CRM Feasibility And Planning Snafu’s
Let's focus for the moment on CRM feasibility and planning and six common snafus. Number one: undue focus on technology. While it’s important, technology tends to soak up a disproportionate amount of attention, to the detriment of other, more critical, areas. As a rule of thumb perhaps 20% of the feasibility and planning process should focus on technology, and the remainder on other key areas covered in this post.    . . .more >>

 
Why Should I Trust People Like Me?
For the past few years, industry consultants and analysts have promoted the promise of peer-to-peer social networks as part of an overall customer interaction strategy. They’ve argued convincingly that organizations and customers alike could benefit from the wisdom of the crowds in online communities. Organizations can use community platforms to listen to and interact with their customers and, in turn, build armies of advocates and supporters. The benefit to customers is pre- and post-sales support from their peers. According to the much-promoted 2006 Edelman Trust Barometer, people tend to trust someone like them, so product recommendations coming from peers, rather than vendors, should hold more weight. But trust in peers has been slipping since 2006. According to the 2011 Edelman Trust Barometer, U.S. trust in peers has fallen considerably, from 68 percent in 2006 to 43 percent this year. That begs the question: Where are customers putting their trust?    . . .more >>

 
Zendesk Introduces the World’s Largest Customer Service Network
Zendesk announced the world’s largest customer service network, comprised of more than 10,000 companies that can now collaborate on support requests in order to serve more than 30 million users worldwide. With Zendesk Ticket Sharing, a support agent can now share a customer support request from their help desk with another organization also using Zendesk as their help desk software, such as a partner or supplier. All of the support interaction is then documented to make sure that no details slip through the cracks, and problems are resolved faster. This process eases collaboration across companies in order to deliver better customer service.   . . .more >>

 
VueLogic and ABeam Consulting to Offer Customer Analytics Engine
VueLogic and ABeam Consulting entered into a multi-year agreement to bring customer analytics solutions to financial institutions. VueLogic's cloud-based analytics solution for understanding customer behavior and predicting the outcome of future interactions across all channels is used by many large companies through OEM relationships. Its development was funded by the National Science Foundation. It can be installed and producing results in six to eight weeks. Under the agreement between VueLogic and ABeam, the two companies will work as one to bring VueLogic's analytics and technology to the top 100 global financial institutions. They will create the business case for customer analytics, identify campaigns for attracting, expanding, and retaining customers, target new customers, track results, and refresh their data models based on campaign results.    . . .more >>

 
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