How to Communicate with Customers: Crash Course Entrepreneurship #11

CrashCourse
30 Oct 201910:28
EducationalLearning
32 Likes 10 Comments

TLDRThe video discusses effective communication channels for businesses to acquire, retain, and grow customers. It emphasizes using direct channels like stores, websites, and social media along with indirect channels like ads and influencers to promote awareness. The goal is to reach your target demographic through familiar language and original, trustworthy messaging. Specific tips are provided, but customizing communication based on your product and customers is key. Overall, varied communication that delights and persuades is necessary for any business's success.

Takeaways
  • 😀 Communication is vital for any business to acquire, retain and grow customers
  • 📝 Direct channels like websites and social media allow control over the message to customers
  • 🚀 Indirect channels like reviews and influencers can expand reach to new audiences
  • 🎯 Carefully choose communication channels based on your target market
  • 🔊 Use familiar language and empathy when crafting marketing messages
  • ⏰ Be clear, concise and timely with communication
  • 🤩 Delight customers with original and smile-worthy messaging
  • ✅ Build trust by engaging customers and persuading them of your value
  • 📢 Use a variety of channels to reach your whole target market
  • 🤝 Refine communication as you learn more about your customers
Q & A

  • What are the three main communication goals for businesses?

    -The three main communication goals for businesses are: 1) Acquiring new customers, 2) Retaining existing customers, and 3) Growing customers into better, more devoted customers.

  • What are some examples of direct communication channels?

    -Examples of direct communication channels include: company websites, emails, social media accounts, phone calls, mailings/flyers, in-store conversations, trade show booths, and billboards.

  • How does REI use direct channels effectively?

    -REI uses direct channels like in-store staff, phone support, emails, website content, mobile apps, and social media to provide outdoor advice and build community, acquire new members, retain members with special offers and dividends, and grow member engagement.

  • What are some examples of indirect communication channels?

    -Examples of indirect channels include selling through other retailers, product reviews, influencer marketing, appearances in external content like podcasts or videos, and word-of-mouth.

  • Why did Brian initially struggle with social media marketing?

    -Brian struggled on social media because while he reached his target demographic, his posts lacked visual appeal and engagement. He realized he needed help creating more compelling content.

  • What four tips are provided for effective marketing messages?

    -The four tips are: 1) Use familiar language, 2) Be clear, concise and timely, 3) Delight the customer and make them smile, and 4) Communicate trust by engaging persuasively with customers.

  • Why is acquiring new customers often the most expensive type of communication?

    -Acquiring new customers is expensive because it requires finding and persuading new people who are not yet aware of or convinced about the value of the business.

  • What are some pros and cons of indirect channels like influencer marketing?

    -Pros of influencer marketing include expanded reach and credibility. Cons are it can be expensive, risky if influencers have problems, and contributes to messy/complicated modern marketing.

  • How can negative customer reviews actually help entrepreneurs?

    -Negative reviews, while unpleasant, provide useful feedback entrepreneurs can learn from to improve products, services, policies etc. for the next iterations.

  • Why is varying communication channels important?

    -Varying channels is important to capture more of the target customer market - different demographics use different platforms and channels, so utilizing several expands reach.

Outlines
00:00
📢 The Importance of Communication in Business

This segment introduces the critical role of communication in ensuring a business's success, emphasizing that without awareness, a business cannot thrive regardless of its quality. It outlines the evolution of communication channels from the 1800s to the digital era, highlighting the constant search for innovative ways to stand out. The main goals of business communication—acquiring new customers, retaining existing ones, and encouraging more significant engagement—are discussed. Various methods and channels for achieving these goals, such as direct and indirect communication strategies, are explored. Examples include innovative advertising methods, social media engagement, and leveraging influencers. The segment wraps up by showcasing the importance of direct channels, with REI provided as a case study for effectively using both physical and digital communication to engage customers.

05:02
🌐 Leveraging Indirect Channels for Broader Reach

Paragraph 2 expands on the concept of indirect communication channels, emphasizing their utility in extending a business's reach and credibility. It explores various forms of indirect channels, such as endorsements from trusted figures, product placement in retail stores, digital platforms, and the influence of social media and influencers. The segment underscores the importance of customer reviews and word-of-mouth in shaping business perceptions and guiding product development. It also illustrates how indirect channels can contribute to the complexities of marketing but remain a powerful tool for entrepreneurs to engage with their target audience effectively. The narrative concludes by encouraging entrepreneurs to strategically select communication channels that align with their target market's preferences, ensuring a broad and effective customer outreach.

10:04
🤝 Supporting Free Education and Learning More

The final paragraph highlights the collaboration between Crash Course and Google in providing free educational content, emphasizing the value of community support through Patreon. It also encourages viewers to explore additional resources on communication offered by Crash Course Business: Soft Skills, promoting continuous learning and skill development. This segment serves as a call to action for viewers to engage with and support educational initiatives, fostering a culture of knowledge sharing and lifelong learning.

Mindmap
Keywords
💡Awareness
Awareness in the context of business and entrepreneurship refers to the level of consumer knowledge about a brand, product, or service. It's crucial for the survival and growth of a business, as highlighted in the script through the assertion that no business can survive without being known. The example of Beyonce promoting her surprise album illustrates the importance of creating hype and awareness as part of a marketing strategy. Awareness is the first step in the customer journey, leading to interest, decision, and action.
💡Channels
Channels refer to the methods or pathways used by businesses to communicate with customers and market their products or services. The video script traces the evolution of these channels from posters in the 1800s to modern social media platforms like Instagram and Pinterest. Channels are categorized into direct and indirect types, where direct channels are controlled by the business, such as emails or social media posts, and indirect channels involve third parties, like influencers or news features, to spread the message.
💡Customer Relationship
Customer relationship in the video script is emphasized as a foundational aspect of business success, likening the interaction between businesses and customers to a personal relationship. The importance of communication is underscored as a key to maintaining and nurturing these relationships, aiming to acquire new customers, retain existing ones, and encourage more substantial engagement or spending. This analogy helps illustrate the ongoing and interactive nature of customer engagement required for a business to thrive.
💡Direct Channels
Direct channels are described as communication methods a business directly controls or owns, allowing for a tailored and consistent message to be delivered to customers. Examples from the script include physical advertisements, in-store conversations, emails, and social media posts managed by the business, like REI's multifaceted approach to engaging with customers through both physical and digital direct channels. These channels enable businesses to directly influence their customer's perception and interaction with the brand.
💡Indirect Channels
Indirect channels involve third-party platforms or individuals to convey a business's message, which the company does not directly control. This includes being featured on other websites, podcasts, or social media influencers promoting a product. The video script highlights how indirect channels can extend a brand's reach and lend credibility through endorsements from trusted sources, such as a celebrity vlog mention or products being sold in established retail stores.
💡Acquiring Customers
Acquiring customers is identified as a primary goal of business communication, focusing on attracting new people to the business and informing them about its value. This process is noted to be the most expensive form of communication due to the challenges of breaking through market noise and attracting attention. The video script underscores the importance of diverse communication strategies to effectively reach and engage potential new customers.
💡Retaining Customers
Retaining customers involves strategies aimed at keeping existing customers engaged and loyal to the brand. The script mentions the use of loyalty programs as a tactic for retention, emphasizing the importance of demonstrating ongoing value and appreciation to customers. Effective communication for retention focuses on creating a positive, ongoing relationship that encourages customers to continue choosing a brand over competitors.
💡Growing Customers
Growing customers refers to strategies aimed at enhancing the value of existing customers to the business, either by increasing their loyalty or encouraging higher spending. The script discusses communicating about new products or services as a way to grow customers into 'better' customers. This concept is about deepening the relationship with customers so they become more integral to the business's success, through increased engagement or investment in the brand.
💡Social Media
Social media is highlighted as a modern and essential channel for communication, marketing, and customer engagement. The script illustrates its role through examples of businesses using platforms like Instagram, Twitter, and Pinterest to reach and engage with their target audiences. Social media's versatility as both a direct and indirect communication channel allows businesses to control their messaging while also benefiting from the amplification through shares, likes, and influencer partnerships.
💡Influencers
Influencers are individuals with significant online followings who can affect the purchasing decisions of others because of their authority, knowledge, position, or relationship with their audience. The script discusses the impact of influencers in modern marketing strategies, where they are paid to promote products or brands. This form of indirect channel leverages the trust and rapport influencers have with their followers to introduce and endorse products, significantly expanding a brand's reach and credibility.
Highlights

Using machine learning models to analyze complex biological datasets can reveal new insights.

Integrating diverse omics data provides a more holistic view of biological systems than looking at any single data type alone.

Deep neural networks show promise for predicting disease outcomes and responses to treatment.

Advances in single-cell analysis enable higher resolution study of heterogeneous cell populations.

Causal inference methods can help determine causal relationships in observational datasets.

Continued growth of biological datasets requires developing more scalable and efficient computational analysis methods.

Integrating knowledge graphs with deep learning has potential to improve biomedical AI.

Improving annotation methods for sparse training data remains an important challenge in biomedical NLP.

Simulation of biological systems can guide experiments and provide insight into complex dynamics.

Collaboration between biologists, clinicians, and computer scientists is key for impactful biomedical research.

Ethical considerations are critical when applying AI to healthcare data.

More interpretable AI models are needed for clinical acceptance and adoption.

Rigorous evaluation on real-world datasets is essential to demonstrate value of new biomedical AI methods.

Open science and data sharing facilitate advancement of biomedical discoveries.

Advancing biomedical AI will require multidisciplinary teams and sustained funding.

Transcripts

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