[The next Webinar is “Approach to Brand Building through Digital” by Vivek Bhargava, CEO, iProspect Communicate 2 on 07th August, 3PM (IST)]
Informative and interesting Webinar by Faisal Farooqui, CEO, MouthShut that truly covered some of the unknown and hidden facts about social media
According to Faisal, Social Media has not been any innovation and the biggest impact has been the growth of internet especially in India in the last 5 years. Social media is basically person to person communication, but it is always directed to somebody and has an audience. It relies a lot on user recognition. It is also important to understand that social media should not be confronted and if you confront social media, you are virtually digging your own grave as they say in the colloquial term.
Some of the questions that were covered during the Webinar are:
Q. The negative conversations usually spread faster and people want to engage around that and read more about these conversations. I wanted to ask is the word ‘MouthShut’ has got something to do with it or have you observed something similar in other platforms too. Moreover, is it only with Indian audience or whether it persists globally?
A. To this question Faisal answered that when we started MouthShut, we were expecting more of negative reviews because traditionally we all have this myth that Indians always complain. Surprisingly, when we started, the negative and positive reviews were equal in number. In terms of readership, we saw that more and more people were reading the negative reviews and they trusted the negative reviews more than the positive reviews. We didn’t take numbers from the other review websites so it was very difficult to benchmark, but 4-5 years later we took numbers from other websites and extrapolated and we benchmarked ourselves. We found that this was even true for other websites as well.
Later on with the review industry getting bigger and bigger, we saw independent research papers from universities, professors who had contacted us, who had published independent papers benchmarking reviews from MouthShut etc. We observed the same trend i.e. more and more people were giving negative reviews. Overall, this trend is not just localized to MouthShut or in India, but it’s a global trend.
Q. How does one get your silent customers to talk or motivate them to give positive feedbacks? How do you create urgency among those who have positive reviews about your product?
A. Faisal answered that when we first discovered this phenomena and the time when we did a number crunching of a lot of videos on MouthShut and what kind of stuff people are reading more, we ourselves were very surprised at this discovery. We found that actually 94-95% of people don’t talk. They are very happy and satisfied about the service, but they do not talk. So we started looking at solutions on how we get the majority to talk. For different companies, it might mean different things, but on MouthShut what we have done this year is that we are opening up our own platform where we can tie up with brands so that every time you have a transaction, the customer also receives a an invitation to participate in it. Basically, we are not just waiting for the customer to talk to you when there is any complain, but we are proactively asking the person to talk.
Q. Most of your examples were of large enterprises, what about SMEs?
A. Faisal answered that 50% of MouthShut’s revenue comes from SME. They are equally important and all my suggestions, tips and learning apply to them as well. In fact, for small and medium sized businesses, Social media is more manageable and easy because you can have a more formalized policy. It can be a hands-on experience to manage customer relationships across all the platforms. For large brands, decision making becomes comparatively slow.
A simple example that supports my above statement is – there is a small logistics company that has more than 200 reviews on MouthShut.com. You would think that it’s a moving company that helps you to move your stuff from one city to another and why would people even write about it. But the truth is that people did write about this company. There were a lot of negative reviews that he has resolved now. They believe that their business has just doubled by bit a little bit more proactive on social media.
To know more about the questions discussed in the session, you can view the recording below: