Sloan Center for Internet Retailing have developed a program called LEAD (listen, experiment, apply, develop) to create a road map that will help companies thrive in the online world’s environment of constant change.
Listen
Organization should have a formal process to monitor and analyze what its customers are saying about it online and then use this information as an early-warning system. The digital environment is changing fast so being on the social networks is crucial. Engaging consumers, starting conversation and actively listening to them as apposed to pushing messages at them will guarantee log term sustainability.
Experiment
Engaging is the next step. Facebook, Twitter, Kaboodle, and You Tube are amongst the many platforms that can be exploited to be close to consumers. Many brands have experimented with emerging media, My favorite being The Burger King Facebook tactic where consumers could win a fee burger by getting rid of 10 people from their friend's list. Now the ROI and measurement of these social initiatives is still in its infant stages, these experiments can pay off in increased brand awareness and loyalty.
Apply
Take the experiments and apply them. To make it easier to reach out to customers, optimize the web site so that it connects fluidly with online communities and social-media sites. These will help you gain experience and apply them later on.
Develop
The Internet is a social medium and should therefore be a crucial part of any company’s marketing mix. But it is critical to develop integrated marketing programs that use the Web as more than just another advertising channel.
Bottom-line: Focus on the fundamental aspects of the consumers’ online behavior
More info can be found on SLOAN Center's website
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