May 27th 2015 Posted at Analytics
The presence of Internet on our daily lives can be seen from the growth of various social networking sites. Social commerce being the buzzword, the techno savvy business world today uses these social technologies to connect to the customers, understand their social behavior and build strong and lasting relationships. The customer on the other hand being connected through blogs, reviews and ratings, forums and social networking communities, gains a lot of experience and knowledge about any product.
Most of the leading brands that have recognized social commerce as a win-win situation for both the brand and the customer, provide a customer centric platform to activate participation, improve customer experience and understand customer behavior. Social media analytics have today become a critical tool in understanding trends, and gauging the market response. The business environment being very volatile, the word of mouth is an important factor. Further, with a vast number of social media sites growing every day, these have become vital drivers of business growth.
Even though most of the major brands have their footprints on the web, companies need to extend their brand experience beyond the walls of the website. Since the official websites get traffic directed to them from brand conscious customers, making the presence on any social media sites through remote widgets, wish lists or gift registries, will provide customer a visit to the website and review about the brand. Based on the response gathered by monitoring online activities of various sites, the social media analytics tool provides precise information about the customer behavior pattern paving way for a more accurate taste than a speculated one.
The social analytics tools that are used must be able to gather the large volumes of data from the social media sites and produce valuable and related insights. Further, these should be able to seamlessly analyze data, apply real-time business rules, and increase the organization effectiveness in social domain. Nevertheless social analytics today opens up a entirely new concept of revenue driven e-commerce through global reach, increased customer retention technique and interactive marketing for a the technologically sound business world. All the social intelligence tools will work to let the organizations stay in the right track.