Brands and organizations are swamped by unprecedented change witnessed never before. Today's customers can shop around the globe, find out more about the brands they're dealing with, and share their experience with hundreds of thousands, if not millions, of fellow customers. Their expectations — be they consumers, citizens or business customers — are soaring and they can make or break brands overnight.
As consumers take centre stage, traditional hierarchy driven business processes must give way to agile processes that allow brands to interact with consumers on channels of their choice; rather than forcing them to interact on traditional one-way modalities like print, television or phone. With the popularity of social media as a personal-cum-professional channel, growing by the day, it makes sense for corporations to research actively into social media conversations & to examine analytical reports for understanding brand opinion.
Business enterprises now must be rewired as borderless processes that are ready to interact with every customer and convert these conversations into sustainable engagement and revenue growth.
The digital revolution and the advent of social networks are providing unprecedented opportunities to engage with customers. But, every business that wants to realize this potential faces a daunting task; it must first intercept and interpret vast quantities of data through social media monitoring and convert that to actionable insights that can feed into business processes to deliver measureable business results. The volume and variety of data are increasing with ferocious velocity and businesses must resolve this dynamic puzzle to innovate and stay ahead in the game.