Shark Tank & E-CRM

Hi my beautiful people,

This post will be discussing Shark Tank and E-CRM activities of the show. As I do not watch much Australian TV, I decided to choose Shark Tank (American version) as I used to binge watch this show.

E-CRM 

Firstly, what is E-CRM? E-CRM stands for electronic customer relationship management. It is the application of internet technology, for example, websites, chat rooms, forums, emails, and other channels. E-CRM is an online sales, marketing and service strategy used by organisations to identify, attract, and retain customers (Business Management Ideas (n.a)). E-CRM is used to improve relationship with customers through web-based technologies. Some benefits of E-CRM are: improved customer relationship, increased business revenue, customer satisfaction, and cost reduction (Technopedia 2018).

Shark Tank 

Shark Tank is an American Multi-Emmy Award-winning reality show. The show is a business themed show that inspires the nation and individuals to dream big. It is very popular and the 10th season will premiere on the 7th of October. The show is about entrepreneurs making a pitch to the ‘Sharks’ about their business and trying to convenience them to make an investment.  Who are the Sharks? There are six sharks; Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O’Leary. The sharks are self-made multi-millionaire and billionaire tycoons that are willing to make an investment if they think the entrepreneur’s business ideas and products ill return their investment (ABC 2018).

Shark Tank & E-CRM 

Shark Tank has an official website through ABC, the website is designed so customers and entrepreneurs view their content and search for information relating to the show. Below is a screenshot of their website. 

Customers can watch full episodes, and short videos; the videos are short clips of pitches, reactions from the sharks, and success stories on the businesses that the sharks invested in. Personally as a viewer I love watching these pitches and feel attached to the entrepreneurs and even though I am only watching, I feel like I am emotional involved. The success stories give an update of how the businesses are doing and are  great why to promote the products/services and demonstrates how a business idea can turn into millions of dollars.

Viewers and entrepreneurs can also apply to be on the show and make a pitch that can turn them into millionaires. For their chance to enter the shark tank, they can apply by sending an email or attending an open call. The website also keeps viewers informed with News about the show, and even have gift guides for their viewers. The show even have an ebook available for download called ‘Shark Tank, Jump Start Your Business”, this is especially great for entrepreneurs as they are provided with tips.

Shark Tank also manages their relationship and interacts with viewers and customers through their official social media platforms; Twitter, Facebook, and Instagram.

The show has such an impact on their viewers that one entrepreneur has started a fan-made website that is not associated with ABC, or the show. Customers and viewers can search for products by categories, gift guides and seasons. The site is like a one-stop shop for customers of the show. It demonstrates that if there is a positive relationship between the show and their customers, that they will even go out of their way to help promote the show (Allsharktankproducts (n.a)).

Here is a link to their website https://abc.go.com/shows/shark-tank , check out some videos if you’re interested. As a viewer, this show is really addictive and I love how these entrepreneur come up with products and services that have yet to hit the market.

 

References

ABC 2018, About Shark Tank, ABC, viewed 13th of September 2018, < https://abc.go.com/shows/shark-tank/about-the-show >

Allsharktankproducts (n.a), All Shark Tank Products, viewed 14th of September 2018,    < https://allsharktankproducts.com/ >

Business Management Ideas (n.a), E-CRM: meaning, evolution, and benefits, Business Management Ideas, viewed 12th of September 2018, < http://www.businessmanagementideas.com/crm/e-crm/e-crm-meaning-evolution-and-benefits/3688 >

Technopedia 2018, Electronic customer relationship management (e-crm), Technopedia, viewed 12th of September 2018, < https://www.techopedia.com/definition/30914/electronic-customer-relationship-management-e-crm >

Personal Consumer Online Experience – Platypus

Technology has changed the way business and customers interact with one another. Interactions between a business and customer occurs during the information search process a customer undertakes. The internet acts as both a distribution and communication channel (Rose et al. 2011, p. 24). The  growth of e-commerce in Australia is increasing. As of 2017, 85% of Australians are engaging with the internet and an estimated 12.1 million are on social media platforms (TransDirect 2018). Online transactions are more convenient for customers these days with customers using online businesses to purchase goods and services (TransDirect 2018).

This post will discuss my online customer experience of using Platypus’s website. I will be using Rose and Hair’s (2011) online customer experience framework to discuss my personal experience. Rose and Hair’s framework consists of 8 components: information processing, perceived ease of use, perceived usefulness, perceived benefits, perceived control, trust and risk, and enjoyment. The components can positively or negatively influence or motivate the customer’s experience (Chaffey & Ellis-Chadwick 2016, pp. 77-78).

Information Processing

Information processing is how a consumer analysis all the available information that will influence their purchase behavior (Chaffey & Ellis-Chadwick 2016, p. 77). During my purchase process I had a specific product in mind which made me a directed buyer. I typed Adidas Campus into Google and Platypus was the 3rd search result. As I have previously had a positive purchase experience and prior knowledge at Platypus I decided to use their website.

Perceived Ease of Use and Perceived Usefulness

When a consumer visits a website the ease of using that site will influence their online experience (Chaffey & Ellis-Chadwick 2016, p. 77). The site’s layout and design should be easy to use as this will influence the consumers online experience (Digital Communications 2016). Platypus’s site is easy to use and the layout of the site made it easy for me to find what I needed easily. Customers can navigate the site through different categories, allowing for ease of use.

Perceived usefulness is how useful the site to customers. For example, does the site have a search facility, and the responsiveness of the site. How accurate and relevant is the information of the site (Digital Communication 2016). My experience with Platypus’s site is positive as I found my product quickly; the search option took me directly to my product.

Perceived Control & Skill 

Customers that are skilled with technology will feel they are in control when using websites. The importance of customers feeling confidence when using websites must be understood by organisations as these experiences influences future purchase behavior (Chaffey & Ellis-Chadwick 2016; Digital Communication 2016). The skills I possess ensures I am in control of what I view and how I navigate Platypus’s website.

Perceived Benefits 

Consumer are getting more familiar and comfortable with using online businesses as the technology adoption and infrastructure are improving day by day (Nielsen 2016, p. 4). Nielsen (2016, p. 22) state that there are a variety of reasons customer prefer to shop online. The convenience of shopping online reduces time and effort compared to being in a physical store. Access to a wider range of products and better deals. I personally do not shop online usually but as I did not have time to go to the physical store I decided to shop online. Platypus promotes that they do same day delivery as seen in the picture below. The second picture demonstrates how Platypus’s customers can sign up for their newsletter which informs customers with sales, competitions, products and the chance to win vouchers.

The website is easy to navigate and quickly allowed me to find my shoes. My overall online customer experience with Platypus was positive. In the future I will continue to use their websites to make purchases.

Quick question for everyone… How do you find your online customer experience when making purchases, and do they differ depending on the product or service?

 

 

Reference

Chaffey, D & Ellis-Chadwick (eds) 2016, Digital Marketing, Pearson, UK

Digital Communications 2016, ‘The online customer experience’, Digital Communications, web log post, viewed 30th August 2018, <http://www.digitalcommunications.net.au/2016/08/28/the-online-consumer-experience/&gt;

Nielsen 2016, Global connected commerce, is e-tail therapy the new retail therapy, Nielsen, viewed 30th August 2016, <http://www.nielsen.com/content/dam/nielsenglobal/jp/docs/report/2016/Nielsen-Global-Connected-Commerce-Report-January-2016&gt;

Rose, S, Hair, N & Clark M 2011, ‘Online customer experience: a review of the business to consumer online purchase content’, International Journal of Management, vol. 13, pp. 24-39.

TransDirect 2018, ‘The exploding growth of ecommerce in Australian: 4 statisitics you need to know’, TransDirect, web log post, viewed 28th August 2018, <https://www.transdirect.com.au/blog/aus-ecommerce-stats&gt;

5 I’s of Internet Marketing

The 6 I’s of internet marketing consist of: interactivity, intelligence, individualization, integration, industry restructuring and independence of location. This post will focus on interactivity, intelligence, individualization, integration and independence of location.

Interactivity

Chaffey and Ellis-Chadwick (2016, p. 37) states the characteristics of interactivity are: customers will initiate contact, and the customer uses the site to seek information. JB Hi-Fi’s website allows for their customers to engage with the products they offer through the search bar. Customers that have any enquires can contact them through the ‘contact us’ page and the business will respond within a 24 hours. JB Hi-Fi’s website is well designed as customers can easily maneuver and engage with the content.

 

Intelligence

Intelligence is a cost efficient method of collecting data on customers. This method provides intelligence on customer’s activities and preferences (Chaffey & Ellis-Chadwick 2016, p. 38). JB Hi-Fi uses cookies to gather data on their customers that they will use in the future (Versaw 2011).

Individualization

Individualization refers to the customization based on a customer’s location, gender, interests, age etc to provide more personalized content (Chaffey & Ellis-Chadwick 2016; Versaw 2011). When I go onto JB’s website I am greeted with ‘Hi Inkyin’.

Currently when customers visit the website, they are greeted with ‘Father’s day gift guide’, this can be deemed as personalization as the ad is targeting individuals that might be looking to purchase a gift for their father.

Integration

Integration is the use of multiple marketing channels to communicate with their customers (Chaffey & Ellis-Chadwick 2016, p. 38). JB Hi-Fi uses Facebook, Twitter, Youtube and Google Plus as tools to communicate with their customers and customers can also use these social media platforms to communicate with the business. Communication between the business and customer is more efficient on these platforms.

   

   

Independence of Location

Independence of location is being able to connect with customers no matter where they are. Customers can use their mobile phones, tablets and personal computers to access the website from anywhere at anytime to their convenience (Versaw 2011).

 

References 

Chaffey, D & Ellis-Chadwick (eds) 2016, Digital Marketing, Pearson, UK

JB HI FI 2018, JB HI FI, viewed 23rd August 2018, <https://www.jbhifi.com.au/&gt;

Versaw, K 2011, ‘The 6 I’s of internet marketing’, Hubshout, web log post, 16th August, viewed 23rd August 2018, <https://hubshout.com/?The-6-I%E2%80%99s-of-Internet-Marketing&AID=324&gt;