Martin Lindstrom: Sleeping with the Customer
"When you develop brands, it’s the little insight that creates the huge difference."
Image: 85mm.ch on Flickr
How many people have ever lived on Earth? Whether you believe it’s 107,602,707,791 or not, I think we can all agree that the answer is a lot.
That means we should have tons of insight into what people regret the most when they are dying so we don’t make the same mistakes over and over and over again for thousands of years, right?
After reading countless articles on this topic, here’s what I learned…
In 2005, Scientific American and WebMD claimed, ”New research traces regret to the brain’s medial orbitofrontal cortex.” As recent as a couple months ago, ScienceMag.org published a study (reported on NYTimes.com) saying, “…brain activity in a region called the ventral striatum, which is associated with feelings of regret.”
Top 5 Most Common Regrets of the Dying (by Bronnie Ware, author of the full-length memoir, The Top Five Regrets of the Dying - A Life Transformed by the Dearly Departing, released worldwide):
- I wish I’d had the courage to live a life true to myself, not the life others expected of me.
- I wish I didn’t work so hard.
- I wish I’d had the courage to express my feelings.
- I wish I had stayed in touch with my friends.
- I wish that I had let myself be happier.
- Don’t ignore your dreams.
- Don’t work too much.
- Say what you think.
- Cultivate friendships.
- Be happy.
Not knowing enough about social media is no longer a good excuse for small businesses. Based on the eMarketer study above from July 26th, only 14% of SMBs claimed to not know enough about social media. Therefore, SMBs are now educated about social media, however they choose to not participate. A whopping 43% believe that it’s not necessary for their business.
According to the CMS Wire post here, some of the highlights of SMB social media usage include:
- The self-employed and small business owners were more likely to report new partnerships, with at least 59% noting a benefit.
- Small businesses were twice as likely to find qualified leads than other types of businesses.
- 48% of self-employed and small business owners saw improved sales as a direct result of their social media efforts.
- The self-employed (59%) and small business owners (58%) were more likely than others to see reductions in marketing costs when using social media marketing.
Why aren’t you using social media for your small business? Please share your thoughts.
"Entrepreneurs dread social media"…at least according to a recent article I read on smartblogs.com.
Stats: According to a recent poll of 258 SmartBrief on Entrepreneurs readers,
"If you had an unlimited budget, which function of your business would you most like to outsource?"
- Social media — 28.57%
- Other — 25.11%
- Public relations — 19.91%
- Sales — 16.45%
- Customer service — 9.96%
My Opinion: Welp, the good news is that no small business has an unlimited budget! The bad news is that some entrepreneurs and small business owners want to outsource social media. I honestly think this stems from confusion or lack of knowledge of the social space.
I’m surprised by these numbers (yes, the sample size is small and the study doesn’t give many details on the participants or results, but I think there are some good things to take away here). In my mind, social media is no longer a “nice to have” and should be considered a “must have” for every business regardless of size. It is not a fad.
Personally, when connecting with a small business online, I expect to be engaging with a real person within the business. It’s very easy to tell when larger, corporate companies have outsourced their social media efforts and give canned responses. This is where small businesses can win. Humanize your brand and build relationships with your consumers. If you are a small business owner, it is important to educate yourself on the different social channels and tools available, and utilize the ones that make the most sense for your business. Start small where your customers are, and then work your way into more. You know your business the best.
You can read the full original article (including some interesting quotes and comments) on smartblogs.com here.
What do you think?