The growth of social media has created an extraordinary opportunity for companies to understand and work with their customers in mutually beneficial ways. Those organizations that grasp the potential, and embrace social media with a scalable and sustainable strategy, will secure a significant competitive advantage over their rivals.
This paper by the Economist Intelligence Unit explores the implications of integrating new understandings of customer value into your business strategy. This is a great examination of the practical considerations for using social media insights to better engage with customers – highlighting the risks and opportunities that companies face, including:
- Why tracking and measurement are different in social media, but crucial.
- How to make social media interactions more profitable.
- Key steps you can take to realize a wider range of customer value across the enterprise.