TAILIEUCHUNG - The New Conversation: taking Social Media from talk to action

π π Effective users are more likely to use social media to monitor trends, research new product ideas via social networks, have an online user group for customers, and collect and track customer reviews on their website. π π Effective users are more likely to know where customers are talking about them on the Web and prioritize their social media activities accordingly. Out of all the executives in the survey, only one-quarter said they could target where their most important customer segments discussed their brands and services. That number rose to almost 70% among effective users | Harvard Business Review A REPORT BY HARVARD BUSINESS REVIEW ANALYTIC SERVICES The New Conversation Taking Social Media from Talk to Action Sponsored by THE__ POWER TO IV. PAUL GILLIN author of The New In fluencers Conventional marketing wisdom long held that a dissatisfied customer tells ten people. But. .in the new age of social media he or she has the tools to tell ten million Copyright 2010 Harvard Business School Publishing. All rights reserved. A Harvard Business Review Analytic Services Report 1 Executive Summary THE EXPONENTIAL GROWTH OF SOCIAL MEDIA from blogs Facebook and Twitter to LinkedIn and YouTube offers organizations the chance to join a conversation with millions of customers around the globe every day. This promise is why nearly two-thirds of the 2 100 companies who participated in a recent survey by Harvard Business Review Analytic Services said they are either currently using social media channels or have social media plans in the works. But many still say social media is an experiment as they try to understand how to best use the different channels gauge their effectiveness and integrate social media into their strategy. Despite the vast potential social media brings many companies seem focused on social media activity primarily as a one-way promotional channel and have yet to capitalize on the ability to not only listen to but analyze consumer conversations and turn the information into insights that impact the bottom line. For instance Three-quarters 75 of the companies in the survey said they did not know where their most valuable customers were talking about them. Nearly one-third 31 do not measure effectiveness of social media. Less than one-quarter 23 are using social media analytic tools. A fraction 7 of participating companies are able to integrate social media into their marketing activities. While still searching for best practice and measurements two-thirds of the companies surveyed are convinced their use of social media will grow .

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