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About a week ago we looked at what social media means to businesses and why social media is the way forward for businesses and perhaps right now you are wondering how social media can benefit you and your business. In a nutshell, your relationship with your customers will never be the same again and it is for the better! I managed to stumble upon this simple yet comprehensive image depicting the evolution of CRM into Social CRM when a business truly integrates social media into their operations.

Social CRM sure looks good and it is important in today’s social media world because businesses are moving towards a collaborative business model. This also means that businesses that has a closed door concept, shutting off customer input will eventually lose out from the market as they only see business through transaction and not interaction / engagement. Little did they know that customers really do have the upper hand in today’s world where a single complain or dissatisfaction can evolve to a global scale within minutes – again, through social media.

Collaborative?

Yes, we are talking about Co-Creation and Co-Promotion of products and it can only be achieved by a collaborative effort, through engaging with your customers. Gone were the days customers will simply buy a product without research and comparison with your competitors.

Reviews, feedbacks and complains can be freely obtained online on blogs, forums, Facebook and Twitter statuses and more therefore making competition greater than before! Think of it this way though, if you’re able to get into their good books, your competitor will be the one struggling instead!

Still have your doubts? Check out the video below!

Start by opening up your doors to listen to what your customers are saying.

What is it that they really want from you?

What is it that makes them your customer?

Is it your product? Or your services?

What are your strengths? What are your weaknesses?

Who do your customer perceive as your competitors?

These questions are best to be answered by your customers.

“Your customers are in someway, your existing followers and fans. Spend more time with them to understand their needs instead of trying to catch the attention of the mass public! Keep the fans, let the rest go. They’ll come when they’re ready”

A traditional business would probably think that the above is crazy.. but it’s not. With social media, businesses today gain direct communication with customers which they do not have 10 years before. A continuous relationship / collaboration with existing customers will in fact draw MORE customers, through them – Co-Promotion.

Find out what excites them as a customer and continue to spark that excitement in them and news will spread among your customers automatically through WORLD-of-mouth, without additional marketing expense. How cool is that?

Imagine creating a new product or service which has guaranteed sales / response – it can happen, with social media. Why? This is the power of Co-Creation. Businesses can use social media to co-create products and services that caters to their needs directly without making wild guesses. Customers know what they want and fans can give you the input you need to produce a killer product / service. It is also an avenue to truly say “we hear you”.

This way, you’ll know whether your product will be widely accepted / rejected even before producing it. Even better if you’re able to get your fans to create on your behalf – you may be on your way to discovering great talents for your business expansion and it’s a good way of getting your fans involved!

Want to know more?

Watch out for upcoming posts on real life social media implementation examples worldwide!

Now that the festive holidays are over, most of us would already be back at work, projects, meetings, assignments, classes, school.. you get the gist of it – we’re back playing the life game. It is interesting to note that while most of us are in the game to win, we also spend a lot of effort in merely trying not to fail.

Does failure get into the way of your growth?

We often hear people describing failures as an integral part of learning and growing, especially as an entrepreneur – and that’s true! A simple act of accepting failure as a part of the process of our very own skill development will be able to bring us a long way ahead and this, is the first step in developing a winning mindset, a mindset that will get you ahead of any game you play in life!

Not easy? True. That’s just positive thinking? Not true.

Think about it, how far do you REALLY want to go in what you’re doing? People with a winning mindset takes on every game, every opportunity with a learning motive, a goal, vision or a direction in mind. They feel smart when they are learning something and not just when they are winning. To do that, you’ll often find the top players setting goals BEYOND their capabilities, talents and resources – goals that they themselves aren’t sure if they can achieve. They consistently challenge themselves and does not fear failing.

The reason is simple: If you make it, that’s something worth celebrating as you’ve set a new record for yourself – you won! Else, you should have managed to pick up a whole lot of new skills and experiences while at it – your tool to a greater win in your next game! Now this, is a win-win situation!

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