Content Discovery Smackdown: Hootsuite vs. Buffer vs. KloutContent Marketing Minds: Ingredients of the Tastiest Content [Nutrition Label]From the Corn Field to the Digital Era: Content Marketing Starts with TrustContent Marketing: Is 2014 Really Shaping Up to Be the Year of Video?
Your Customers Aren’t Listening! How to Create Consumer Dialogue that Converts4 Tools for Nonprofit Social Listening and Reputation ManagementThe Promising Role of Social Listening in Treating Health IssuesThe Importance of Social Listening for Brands
- Public Relations
Facebook Testing a Way for Users to Buy Products on the Platform7 Website Tips to Attract More Shoppers to Your PagesHow eCommerce, Augmented and Virtual Reality Will Redefine the Retail ExperienceSearch Query Analysis to Increase eCommerce Website Conversions
- Content Marketing
Technology & Data
Social Startups: Bizible Connects All the Dots from Marketing Contributions to RevenueCreating the Perfect Profile for Your Social Media Marketing EffortUsing GPS and Localization for Social AnalyticsAnalytics and Prospect Intel: Discovering Your Ideal Prospect
- Big Data
- Tech & Innovation
3 Security Risks You’re Taking Every Day While Using Social MediaShould the President Have the Power to "Pull the Plug" on the Internet?How Safe is Your WordPress Website From Hackers and Other Malicious Attacks?
- Software & Tools
- Small Business
- Social Organization
Celebrating the Grand Re-Launch of Social Media Today! SBH Podcast Episode 8Why Should You Care If Your Employees Are Thought Leaders?Beyond Engagement: The Art of Managing Social-Media Risk in Employee Advocacy
Why All-in-One Social Media Management Systems Don't Cut It for Social Customer ServiceWhat You Should Know About Customer, Digital, and Contextual ExperienceSurging into Q3: How to Make It Better Than Q2Is How You Serve Your Customers Costing You Business?
Join us September 15th in Atlanta for The Employee Advocacy Summit and learn how to unleash the power of your employees.
Post your event here and we'll share it with our community. If one of our members is featured, we'll promote as well on their profile.
- Marketplace & Webinars
The SMT Marketplace
Your resource for exclusive content and insights from Social Media Today, and opportunities to reach our community of professionals.
The Social Business Book Club brings you books, discussions, and insights from today's to business thought leaders.
Join interactive talks and and panel discussions with leading thinkers and practitioners on social media and networked business, or browse the catalogue of recorded sessions - all completely free.
Reach Social Media Today's community of marketing and communications professionals in an editor-approved context with a native advertising package.
Gleaning Business Intel from Social Media
Posted on July 31st 2011
It seems like social media has exploded over the last few years, yet there are many businesses that aren’t quite sure how to use it as a benefit. They’ve tinkered with coupons, giveaways and sign-ups. They’ve even asked people to like their page or follow them on Twitter. Although they’ve tried these different strategies, they still aren’t seeing the great results that they’ve heard others talk about. Social media is not a quick sales fix, it’s about communication. More importantly, communicating with your audience.
Many businesses fail to use social media as a communication tool to connect with their audience. Consumers are willing to give their feedback about a product or service, but someone has to be taking notes. To better utilize social media, ask your target audience to share their opinion about your business product or service. It’s not rocket science, and it could help your business improve an existing product or service. Let’s say for example that a restaurant has recently introduced a new spicy food dish. At first it’s a huge hit, but then the orders for this new dish start to fizzle out and the restaurant owner is wondering why? Instead of discontinuing the dish, the owner starts a social conversation inviting consumers to give their feedback. As the feedback comes in, the owner realizes that customers are disappointed because the spicy food dish isn’t that “spicy.” This feedback helps the owner improve the dish and customers are invited to test the improved version. By simply communicating, the restaurant owner has solved the mystery of why the spicy food dish orders fizzled out.
It sounds simple, but businesses can miss out on opportunities if they aren’t listening. In fact, service and product revenue can be increased from simply reading consumer’s social media communications within your community. Let’s say you own a company that services computers. The business is doing well, but you are wondering where improvements can be made. As you read through posted comments and tweets, you notice a recurring theme. Customers want extended hours on weekdays, so that they can drop their computer off on their way to work. In fact, many have changed their weekend plans or haven’t even brought their computer in because your weekday hours are 8:30 a.m. to 6:00 p.m. This forces them to come in during their lunch or rush through traffic to get to your business before close or look elsewhere for help. What’s the solution? Your business shortens up its weekend hours and extends its weekday hours.
Social media can be a great asset to your business, if it’s leveraged correctly. If your business will learn to pay attention, your audience may be providing new ideas and business solutions.