An IBM Global CEO Study found that today’s CEOs are beginning to understand and accept the role social media plays in fostering customer relations and building a stronger business model. While social media is currently ranked lower than many other forms of engagement and interaction, it is expected to increase substantially within the next three to five years according to the IBM study.
This highlights the need for all companies to embrace social media to tap into the knowledge base their customers represent. Social media represents an in-touch, up-close-and-personal way for businesses to tap into the knowledge base of customer intellect and to learn about customers—their wants, their needs and their desires—directly from the source.
Through customer relations on social media sites, companies are rewarded with more insight on how their brand is viewed by customers, from specific products to customer interactions or policies. Through utilizing the information obtained through customer relations on social media sites, companies have the tools and the ability to tweak business practices, products and policies to meet customer demand on every level.
A well-organized, strong social media campaign geared toward building strong customer relations results in massive amounts of collected data. The real benefit of social media comes through utilizing this data.
Crowdsourcing provides a way for this data to be analyzed, interpreted and accumulated into a form that lets businesses tap into the collective thoughts, wants, needs and desires of customers. The collective power of the crowd can take unstructured text data obtained through social media interactions, surveys, feedback and more and make sense of it to realize the true power of customer relations and personal interactions.
Whether it’s judging customer sentiment about a company’s brand in general or honing in on specific products, warranty policies or patterns and trends, crowd workers break down the raw data collected through social media customer relations. And they do it quickly, giving businesses a scalable solution that provides real business value by identifying areas that need improvement.
The biggest benefit of using the crowd to make sense of customer relations data obtained through social media is the ability to address problems quickly and thoroughly. Instead of using a bandaid solution that glosses over a problem, companies can create real solutions that strengthen customer relations, brand building and customer loyalty.
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