The online world has been growing and growing in the last couple of years, mostly in the last 2 years and now it is starting to take a toll on many businesses.
Yesterday we spoke of how Comet failed to adapt to the ever turning wheel of change and how Currys/PCWorld is following the same path, did you agree with our article?
HMV has been the latest victim of the ever growing competition for customers in the online space, with the giant Amazon leading this space. So where has HMV gone wrong?
Being around for roughly 90 years, it has faced a lot of change along its journey. This varied from introduction of computers into business and laws, but one change that could have made a big difference was to create and deploy a Social Media strategy and increase their online presence.
With the Ebays and Amazons being so diverse, a business can’t afford to delay their movement online as catching up with some of the long-time online occupants will always prove to be a great challenge and the sooner it is taken on, the sooner it can be overcome.
We have analysed all mentions on the Social Web in the whole of last year regarding HMV and have found it to be minimal when you compare it to the likes of Amazon. Negative comments were not being resolved or responded to which allowed these to remain in the public space causing further damage behind the scenes.
We have learned that unresolved negative comments made by the public usually result in loss of current customers and it presents an obstacle when it comes to acquiring new customers.
As you can see below, activity isn’t extreme and like we said yesterday, presence sometimes isn’t enough. When you don’t use your online presence to please and help your customers then your presence is worth the same as no presence at all.