Sunday, September 18, 2011

Social Media Is Problem Solving - Not Rocket Science

According to Jeff Molander, Loyola University Business School, social media challenges marketers to design conversations in ways that solve customers’ problems.  According to Molander, the key to selling more with social media is based on organizations developing a way of creating conversations with consumers that provide value through problem solving.

Molander points to Anchor Bank as an example of an organization that follows customers, not trends. Their customers signal the “when, where, why and how” that powers technology decision making. Anchor Bank translates customers’ needs and responds by scratching their itches—and in the process earning more transactions. They’re helping customers navigate themselves toward needed answers.

Molnader's key take-away: brainstorm gestures for your company that help solve your customers’ problems and make products more relevant. Start in areas of strength. For instance, AnchorBank focuses on helping customers get out of debt, learn about appropriate sources of financing, and prepare their “money lives” for divorces or marriages.

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