Social Medias Impact On Customer Relationships - 1245 Words

Social media or social collaboration has fundamentally altered the way we collaborate, create, communicate, and even consume. Social media has had a transformative impact on customer relationships. According to a 2012 Nielsen’s social Media Report, almost half of U.S consumer use social media to ask questions, report satisfaction or to complain, and a third of social media users prefer â€Å"social care† to the phone. Customers are in charge and influence each other in their buying decisions on a large scale never existed since the 21st century, where the word of mouth served as the only information channel. Customers through social media have a powerful voice that can reward organizations that listen to them and punish those that do not. Per Mark Schwanhausser, a senior analyst at Javelin Strategy and research, Social media is rewriting that rule and increasing the speed with which banks have to respond. (Quittner, 2011). The energies and opinions of customers are cap tured by social media. The contents of social media may be a review, information to fix or configure something or an innovative way to use or optimize a product. The contents may represent an invaluable data source against which a company can perform analytics and derive insights and trends, customer purchasing trends, and an early warning of safety or satisfaction problems. These insights and advanced warnings provided can inform the decision making process, such as go-to-market and support strategy, continuousShow MoreRelatedWhy Smart Marketing Is About Help Not Hype1235 Words   |  5 PagesConsulting. He helps them with online marketing strategies to succeed in this highly competitive market. Companies includes big brands like Nike, Caterpillar, and Best Buy etc. He works with midsized companies and help them integrate their strategies with social media. â€Å"Why Smart Marketing is About Help not Hype† is divided mainly in to three parts: Part 1: Turning marketing Upside down Part 2: The three facets of Youtility Part 3: Six Blueprints to create Youtility There are all in all 12 chapters thatRead MoreThe Russian Revolution Of 20131488 Words   |  6 Pages24/7’ have done an investigation and found what tools governments use to manage the news in order to prepare the audience for conflict. They critically examined the changing contours of media coverage of war and considered the complexity of the relationship between mass media and governments in wartime. The book is a study on how informative and communicational technologies are affecting the media messages through production, distribution and reception. 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As the theories being more specific, the chapter will provide literature review about customer relationship through social media content strategy to explain the research problems. It also includes numerous studies in the field of relationship marketing and branding strategy in the dig ital world. Therefore, while discussing previous conceptsRead MoreSocial Media: An Information Platform for Enterprises1436 Words   |  6 Pagesï » ¿Social Media As An Information Platform for Enterprises Introduction Social medias influence is accelerating across every aspect of society, bringing with it a need for increased authenticity, transparency and trust. For the first time customers can stand on equal ground with the brands they buy from and in some cases, are very loyal to. Of the most disruptive force in society today, social networks are revolutionizing how the consumer interacts with every strata of business and government asRead MoreHow Social Media Has Become A Popular Now Days972 Words   |  4 Pagesmany informative researches on how social media have become very popular now days. If you take a good look around, you will notice that most of the people are on their phones, and my guest will be that at least one of them is connecting through the social media. Social Media is a great tool but it can be dangerous if not used properly. It has been studies on social media that has helped to describe a few pros and cons that are associated with the use of social media in the population . As you canRead MoreEssay on Managing the Workplace Ethics of Social Media1474 Words   |  6 PagesSocial media applications on the internet have skyrocketed in the area of interests for all ages of employees in the work force. As fast as these applications are gaining popularity, so are they changing the way employers are looking at their employees and their companies in general. There are so many benefits that social media has brought to the cooperate world, but with this each company is becoming increasingly more aware of the risks that are involved with using it. Misuse of company resources