Built to Trust
The Paradox of Choice is that too much choice without clear differentiation has made customers life miserable notes author Barry Schwartz. And with more choice there is lesser & lesser satisfcation. Everywhere we go online or offline we see something trying to catch our attention may be by ads, business cards, posters, television ads and so on. And very often we ignore those messages. Why? Becuase there are so many. So many similar kind of businesses hitting us every day with no one to trust. The air waves have become really polluted. And people or businesses are trying to differentiate themselves by developing stronger audience and customer base for their businesses. Analyzed how the customer bases which are being nurtured have formed a community relationship with the businesses leading to massive sales. Why is this relationship becoming increasingly essential? The Number 1 reason is that since these communities are being nurtured people have a fondness for that brand or company. And when they are seeing that company is fulfilling their needs they also form their buying decisions based on it. For eg, if yo go to Facebook Fan page of a corporation or a small business you will see some of the businesses are feeding their community so well that when it comes to buying decisions the buyer gives number1 preference to them. And this is what it is happening. We can see how Dell is creating that relationship,engaging customers , taking customer feedback to drive sales http://www.facebook.com/dell . Recently Dell reported a 6.5 million sales through Twitter itself. It's amazing to see that some companies are utilizing the free social media so well. They are not only giving information about their product but also giving value added content to the community going a step further. The behavioural economics of people are changing dramatically. And so it has become imperative for businesses to create community relationship. For small businesses it has become almost mandatory. It is really hard to create that, however if created community relationship based on loyalty and trust will be major differentiator for driving sales.
Thank you for reading.
Have a wonderful Sunday
