- J. J. Abrams -
Charlie always tells me that I have to read more about other companies. I need to read about companies from my own industry and related industries. He always tells me “Liz, you will get great insights if you just read more about other companies”. So, yesterday I took four hours and read Hasbro, a major US toy company, investor’s day transcript. It was nice to read about all these great brands Ashley (and I) play and interact with. However, my major insight came towards the end of the transcript (you can read the full transcript on www.SeekingAlpha.com).
A company representative, Mr. Victor Lee, spoke about customer engagement. He focused on the vast and ever growing digital landscape. He spoke about measuring customer’s engagement. He spoke about how Hasbro tries to distinguish itself in a world where every second, there’s 72 minutes of videos uploaded to YouTube. How do you reach your audience? How will you make them stay with you?
Reading on, I realized the huge opportunity, and the challenge that we face. Think about the following: “Did you know that the top viewed media program in history was the 2010 World Cup as an aggregate, not one match. So for the course of the couple of weeks, the World Cup, as an aggregate, was viewed globally by 700 million people. That’s over the course of a couple of weeks. That’s a lot of people. Did you know, the daily average user of Facebook, Twitter and Instagram combined daily, is 800 million?”
Hmm, very interesting, many people are consuming data in a social way. How can we leverage this? How can we reach these people? How can we reach our fans?
I was discussing these insights with Charlie, and I know I do not have all the answers, I know there are many people who will benefit from my products and services. I know there are many who crave for my chocolates and I know I need to find a way to reach them and then make them want to come back.
I realize a plan of action needs to include at least these steps:
- Define who is your perfect client.
- Identify where your perfect client consume its information, what are her trusted sources (with regards to your product and services). What information is she looking for when making her purchase decision?
- Plan to create valuable content to your clients. It may be informational, entertaining, inspirational or educational. It has to be trusted, valuable and it has to engage your perfect client.
- Measure the success of engaging your clients.
- Base on your success results, modify, adjust and try again.
Let me end with one insight I got from reading Hasbro’s transcript. Hasbro does not measure online/social engagement by the number of “likes” its posts received. Hasbro measures it by the number of comments and shares. What a concept!
How do you measure your fans engagement?