Saturday, November 18, 2006
This is Investment
How do we build the Business to Business panel? The truth is that the usual tactics for engagement are just not good enough.
A few years back I had an idea of myShare panel, where the incentives for each survey were pooled and invested in certain funds. The panel participant could then have some fun on this and see their investment grow or decline!
So today I was reading about how customers become partners in our businesses. (This seems so obvious as to be a waste of my keyboard imprints, but there you go). If we really mean this then what about executing the concept?
The Barcelona football club is run by the Executive and the Fans - there is investment. What about a panel? Why not allow the panel members to be fully invested in some way? Would this not lead to engagement? Would they be walking advocates then?
If you want to build communities of the future then this has to be the way - full investment means a genuine care - and that means engagement.
Yes, that is a challenge, but you didn't think this was going to be easy did you?
A few years back I had an idea of myShare panel, where the incentives for each survey were pooled and invested in certain funds. The panel participant could then have some fun on this and see their investment grow or decline!
So today I was reading about how customers become partners in our businesses. (This seems so obvious as to be a waste of my keyboard imprints, but there you go). If we really mean this then what about executing the concept?
The Barcelona football club is run by the Executive and the Fans - there is investment. What about a panel? Why not allow the panel members to be fully invested in some way? Would this not lead to engagement? Would they be walking advocates then?
If you want to build communities of the future then this has to be the way - full investment means a genuine care - and that means engagement.
Yes, that is a challenge, but you didn't think this was going to be easy did you?
Comments:
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Hi Jon, Yes giving shares of your company instead of points is a great idea. Some people will be more involved if they believe that they can get more than way. You can look at what British point system The Mutual are doing. It is very successful for some people. However, it is like any other point system: some will like it, some will not. Some would prefer hard cash. Or some would say that this is only for materialists and give money to the charity. Or be elected member of the month. Etc.
Once again, there is no ideal loyalty sytem. If you want to create engagement, you have to think abuot what your audience wants and come with a very targeted approach. But as you create your program, your audience will define itself: your "media" will determine the community. That is why I think you cannot create one representative panel: people are too different to be all engaged by a single program. Instead, we many many many panels/programs/communities and the ability to aggregate them.
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Once again, there is no ideal loyalty sytem. If you want to create engagement, you have to think abuot what your audience wants and come with a very targeted approach. But as you create your program, your audience will define itself: your "media" will determine the community. That is why I think you cannot create one representative panel: people are too different to be all engaged by a single program. Instead, we many many many panels/programs/communities and the ability to aggregate them.
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