PR
Publicity and public relations are no longer just about getting an article in BusinessWeek or The New York Times. Now there are thousands of influential blogs and online outlets that can create a positive effect on your business.
With numerous major print publications struggling to survive, most publicists have added digital media and the extended social media to their hit list. Going back to the point stressed earlier, quantity should not be the goal. How many people you reach is far less important than the quality of people you reach. With the proliferation of social media you can, and should, target your PR campaign to the web publishers that can position you with the people you want to reach. If your product is a piece of technology then you can find countless websites and blogs that focus on just that. Their readers and followers trust their reviews and advice. While these publications may not reach as many as The Wall Street Journal, oftentimes you will sell much more with an influential blog that has a fraction of the readers.
You can also create your own press exposure by dedicating time and resources to your own blog and social networks. Poignant and helpful essays, white papers, and research should be featured on your company's website, blog, and social networks. You will notice agencies like Razorfish who do this exceptionally well and generate a tremendous amount of positive PR by utilizing this strategy.
Market research
Thanks to social media you have incredible access to your customers. You have hundreds or thousands of "fans" coming to your social media properties looking for information and a dialogue. They want to know more. They also want to tell you what they think. So encourage them to speak freely. Ask them what they like about your product. Ask them what they don't like. Treat them like family and they will give you the tools to better your business.
If you are like many businesses, you have probably spent thousands of dollars hiring market research companies over the years. Those firms would locate ideal target customers and ask them for input on your product. No need for that now -- the people whose opinions you want most are opting in to your social networks. Take the money that you had previously spent on market research and give it to your social media team to conduct market research directly with your audience. And don't forget your employees. They have a lot to say too.
The best example of this is being done by Starbucks with their My Starbucks Idea concept, where they ask their customers and employees to suggest things they'd like to see at Starbucks. The suggestions reside on a dedicated website and then the community votes them up or down based on popularity. It's a simple yet brilliant idea.
Want to sell more? Who better to up-sell to than your current customers? Ask them what they want and then give it to them.
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