Tuesday, March 13, 2012

Groundswell Chapters 9-10 Review

Embracing the groundswell Chapter 9

The groundswell has changed, the business,, and social media world as we know it. Companies are learning to embrace their customers and listen to the positive as well as negative feedback. People are jumping at the chance to put in their feedback on your product. They blog about it, write articles, post stories etc. The groundswell is allowing companies to monitor feedback , and make adjustmentys accordingly.

Faster innovation is something  that is indeed powerful. First of all, it doesn't take long for customers to tell you what they want. Secondly with customers in the loop innovation occurs quicker, because you can iterate-make continuous improvements . Take a look at this video . It shows different types of recent innovation that have contributed to the groundswell.  

Credit Mutual  is a French bank corporation which has a unique slogan. la banque a qui parler, which translated means a bank you can talk to. They listen to their customers, and reach out for ideas on how they want their banks to be run. it is almost like a democratic way of banking. It is user friendly, and Credit Mutual  has over 10 million customers for a reason.

Humility and creativity can co exist in business according to Li, and Bernoff. They say that when embracing your customers keep two main things in mind. First, ask for suggestions like Credit Mutual did with their customers. Also set up surveys , and other things, rating your products and listening to the responses. The second thing to take into consideration is you must be able to balance skill, and humility. If you are a successful company such as Apple, who a lot of loyal customers than you want to keep them loyal . You do this by not only creating a good product , but also listen to customer suggestions and complaints. If you hear the new IPhone doesn't take good pictures, put a new camera on it. When a company is on top, you want to make sure you stay on top. Adjust, adapt, evolve to better fit the needs of your customers.

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