Last week we discussed how social media influences purchase decisions. This week, we'll look at what organizations can learn by listening in to what their customers post online.
In a fast-changing business world, many organizations would like to be able to spot new trends. Often, those new trends are first discussed on social media. If the organization could listen in to the right conversations, they could grab market share before their competitors. Similarly, if a customer posts a negative product review, the organization would like to address the issue as soon as possible – before the blog post goes viral.
But the sheer volume of traffic makes it extremely difficult to monitor what customers are saying on social networks. Twitter alone handles more than 300 million tweets per day. Add in Facebook, LinkedIn, product review sites, and hundreds of millions of blogs, and you've got a Big Data problem.
The secret to making sense of all the data is to not just listen in on social media conversations. It's important to apply analytics to glean relevant information about customers. Rather than trying to addressing it on their own, organizations may want to find a partner with the scale and reach to manage such large quantities of data. Organizations need to understand and quantify social media data, such as customer sentiment and perceptions, to turn it into actionable information and create business opportunities. This helps organizations gain clearer insights to make better business decisions.
HP’s Social Enterprise Services, enable organizations to quickly implement a social CRM program to improve communications, understanding and engagement with customers within social networks.
Watch our video on Social Enterprise Services.
What new trends have you spotted in social media?