Reading a book about social capital called Whuffie. Social networking aspects:
– Low spend high loyalty approach by building Whuffie. Dell used online marketing to turn its customer service ratings around! Some companies spend millions of dollars trying to get new customers which is worst then satisfying their current customer base by providing exceptional customer service. Markets are conversations that belong to customers, not the companies!
I receive this “Groupon” e-mail message about getting $10 worth of Gelato for only $5 bucks (50% savings) yesterday (Sunday 10, 2010). I buy the Groupon, then posted this fantastic deal on Facebook and Twitter.
I watched someone’s video that they posted on their Facebook wall and said that I liked it! (I really did like the video they posted!).
Two people said they liked my post on Facebook and one of the people commented, then bought the same deal I got on gelato at groupon.com!
This goes to show you that online marketing through social media works!
