Social Reviews Key in Building Trust

Are firms doing a good job in building consumer trust? According to a 2012 survey of U.S. adults, “About.com found that 84 percent of respondents felt that brands needed to prove themselves trustworthy before they would interact with them or other information sources. Moreover, the study found that there were 10 primary trust ‘elements,’ or […]

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The Power of An Apology in Building Trust

With the advent of social media and the rise in consumer expectations, companies need to do more to make things right. According to customer satisfaction gurus Don Peppers and Martha Rogers: “As technology catapults us into the E-social era, corporate apologies will become more common, not only because companies get caught making mistakes more often, […]

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The Weak Financial Performance of Social Media: No Surprise

On May 18, I wrote: “How can a company with SALES of  $3.7 billion in 2011 and projected annual sales of less than $20 billion as of 2016 be valued higher than Disney? Higher than McDonald’s? Higher than UPS? Higher than American Express?” Thus, it comes as no surprise that after announcing the 1st quarter of […]

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Turning Frugals into Frequent Shoppers

It is imperative for companies to find ways to get people to be less frugal in their shopping behavior. As reported in Promo: “A broad trend that can’t be ignored is the rise of the newly frugal shopper and the erosion of brand loyalty caused by shoppers who spend more time than ever before researching […]

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