Recently, one of New Zealand largest music festivals, The Big Day Out, announced that this year would be the last. It was not longer a profitable event and therefore it had run its course and it was time for the organizers to move onto something else. I don’t think that this will be the last of these events which will run themselves out of business.
We need to ask the question, why? Why do these mega events which attract crowds of thousands, prove to be no longer financially viable? Why is it that attendance drops by the thousands?
We live in changing times, people are wanting something new and fresh. They are looking for new thrills, not an experience of the same thing year after year. The key thing is to understand what your customer is looking for, allowing the masses to provide information which could transform an organisation as new markets evolve.
The thing about these large gatherings/festivals, is that the organizers can make use of crowd-sourcing techniques. This is when you draw on the collective intelligence of the masses for ideas, discussion and interaction. Part of the discussions I have around Social Business, cover the need for customer intimacy. Getting close to your customer and understanding them can not only drive increases in profit, but also transform your business into a market leader showing innovation which will become a competitive differentiator.
I guess I would sum this post up as – It is one thing to copy the competitor, but another thing to harness the collective intelligence of the masses
Insider tip: It’s not social if your the’re not talking about you
Sat, Apr 28th 2012 10:24p Vaughan Rivett Let’s not forget, by nature people are social. Generally speaking, this is part of the human DNA. In turn this means that people are sharing. They like to share what they’ve been doing, their opinions and their thoughts. Not only that but they also like to be heard.
Have you ever stopped to think about what people are saying about your brand? Now, I know a number of you will be thinking about the results of your last customer survey. You know the one I mean, the one wher [read] Keywords: apple
Turning customers into Brand Advocates
Mon, Apr 23rd 2012 3:11a Vaughan Rivett It’s one thing to have customers, and loyal customers, at that. But, what does it take to turn a customer into a “Brand Advocate”. This type of person is someone who will tell others about your brand with passion. In fact, they will most likely tell the world through the use of Social Media. There are three key components that need to be considered to transform customers into Brand Advocates:
Company culture is the for [read] Keywords: facebook
I really don’t think you understand who I am – I am Social
Thu, Apr 19th 2012 2:44p Vaughan Rivett The other day I went to the supermarket to pick up a few food items (how many blog posts have I written lately which involve food?). I found a product which I liked the look of and saw that it had been reduced from $8.00 to about $5.00. As a result I decided to take two while taking advantage of the offer.
I went to the counter to pay for the goods expecting a total of $10.00. However, the cashier said that it came to $16.00. I questioned this and pointed out that there was a “Red-la [read] Keywords: facebook
Forecourt attendant ‘gets’ social business
Wed, Apr 18th 2012 2:36p Vaughan Rivett Today I visited a petrol station to put fuel into my somewhat thirsty car. It was the Sommerville station here in Aucland, New Zealand. I did the normal thing and filled up my tank and went to pay for the fuel before leaving. I was wearing a polo shirt with the slogan “Get Social. Do Business” printed on it.
The service station attendant read the slogan aloud and smiled. He looked at me and said “You can’t do business if you’re not social”. I doubt t [read] Keywords: facebook
Ever made “Social” eggs? – A how to guide to using videos for Social Business
Mon, Apr 16th 2012 3:00a Vaughan Rivett Have you ever heard how to cook a “Social” egg? Now I know that this has got you thinking, sounds a bit crazy maybe? Lately, I have been a home, by myself, with my wife and kids overseas (except for one). During this time I’ve had to cook my own meals. Past history would suggest that I should not be in the kitchen, in-fact, my wife usually sends me out to the BBQ to cook.
I decided that I would be adventurous and learn to cook a poached egg. I got out my iPad and sea [read] Keywords: blogging
Reducing staff attrition rates through connected and engaged employees
Sun, Apr 8th 2012 10:40p Vaughan Rivett I’ve been reading a blog which is written by Flora, who has recently taken on a role as a Human Resources Adviser at a woman’s clothing chain, with stores all around New Zealand, Funky Town. Last Wednesday, she published a blog article entitled “Too much turnover“. She outlined some of the issues she faced with a turnover rate of up to 40%. A lot of this being driven by the use of casual and part time staff.
I’m not sure that this percentage can be looked at b [read] Keywords: facebook