Also in this playlist...
This transcript is automatically generated
So how much -- customer reviews really matter.
Paul -- says that they have the power to either -- or break your business.
The author of the new book highly recommend it -- here at media day to tell you how you can become a social business with glowing recommendations.
And grow in the process.
Paul thanks for coming -- thanks glad to be here you think businesses under estimate the power a good or bad read you can have on aircraft.
Well I think there's -- things reviews are one thing and then there's recommendations as a -- so let me kind of addressed both yes.
What's fascinating today is that over 92% of all consumers will tell you.
That the reason that they buy a product or service is because someone they know and trust recommended it to them and on the business to business sides of business this service that numbers but 84%.
So out of all the types of ways that people can learn about products and service seems to make sure your brand is the most recommended.
Is almost going to be one of the key elements that you can force -- to be successful.
And on the flip side of that a -- he doesn't really have the power to teach your business down or not it does actually -- your concept of reviews.
Almost 70% of all consumers will tell you that three or more negative reviews -- them turn off from buying -- really serves no question.
And so I think even when you see -- -- some data cannot even this week that -- to 20% of all Yelp reviews are likely to be fake.
I think there's still enough credibility behind them -- people are learning how to kind of separate the positive.
And the real from the others that they can make a real difference in a product.
He -- me about becoming -- social business how do you define.
What think that this is one of the big changes that's happening in us as a as a business community.
We -- at the tail wind of customers companies.
The importance of social -- shaping their business but it's going well beyond just marketing and communications.
Now every aspect of a company is impact -- it touched by how they are using social media.
Social business has been defined as a way where all aspects of a company are using social media.
But they're still look pretty nebulous concept we have your -- here highly recommended -- it -- stuck and you're going to give us some tips.
On becoming highly recommended and growing your business in the process so first of all he -- -- how you want to beat recommend.
Tell -- -- that's exactly right we actually as brands today have the ability to figure out exactly by looking on line.
Where and how consumers are talking about our company our brand or competitors and where they're doing it.
He had building -- no longer need to put on a focus group but to really tell what's happening is very important.
So any company out there any brand can check online and see what's being described about them and what's working.
What's really interesting today of the top eight things that are driving search behavior seven of them were social context -- the ability even cut back understanding of searches -- marketing.
But focus on content marketing makes a huge difference we know that budget is so important very much all companies typically.
Your second tip is to -- your -- It is live the brand and I think one of the things -- you're seeing over and over is companies can't have a public face in the private -- everything they do.
From customer service to how they're dealing with employees -- how their marketing the products assault connected.
So everything your company does if they are gonna be -- king and customer service they have to follow that through everything they do from HR all the -- for the customer service and their marketing.
And to go off the back -- to be -- transparent and to own empty your mistakes quickly and we know that's really important for you know man it is and I think there are examples after example where companies because they are human because they are interacting in a one on one basis mistakes happen.
When those mistakes happen to cover them up.
As -- causing more problems.
Sorry I messed up.
We messed up let me tell you what we're doing to fix it doesn't million miles and then you say to -- indeed some interesting.
Well you know it it is just engaged in an interesting because we are now in a relationship with our consumers and our customers -- in a relationship with -- viewers.
In the same way we have to make sure that were not the party of war.
But we're keeping folks engaged entertained is really important that means not always talking about your brand -- your company.
But 90% of the time talking about things that are directly relevant to both of you.
10% of the time you can talk about some commercial messages they say to regularly evaluate any golf.
You know it's it's so true because what -- what different consumers.
Focus on -- different times are very important.
If a brand knows how -- wants to be recommended and it focuses on driving how they want to be recommended.
There's a constant evolution going on what's gonna be relevant to that company a certain time so you for -- in the dry cleaning business.
Talking about recycling sustainability white there's still getting your clothes -- to be an issue.
If you actually multinational brand that is dealing with health and wellness being engaged and help them all -- -- -- -- step up top -- latest trends is going to be important.
The key is for every brand out there how to -- engage in conversations and make it easy for companies for consumers rather to recommend me.
And then finally EC to restructure your organizations he can become highly recommend -- ball from the ground.
That is I think the key of all this we are not looking at just a marketing strategy.
And I think the focus of the book really is how does every function of a company.
From a small company to a very very large company structure themselves so that everything they do is designed to get them to be highly recommend it.
Most companies have a hard time thinking through strategy say how do you want to be recommended.
And they can get to the point really quick and then you build your business model around that -- well thank you very much for coming in thanks for having me.
So small -- that's why those recommendations and reviews matter sometimes from New York Kate Rogers foxbusiness.com.
Filter by section