Social media is a double-edged sword for customer relationships.
Customer-generated content, peer reviews and social networks are playing an increased role in helping consumers make informed decisions. At the same time, many businesses have less direct influence over the decision making of their customer base.
It would be a mistake to believe that social media by itself has reduce the influence businesses have with customers. There has been a growing disconnect between what traditional businesses have been offering and what today’s customers’ value and hence a decrease in influence. Social media fills one of these gaps, namely, helping customers make informed decisions about the experiential value to the offering.
A growing number of savvy businesses are turning to social media and other Web 2.0 technologies to regain influence. However, as many are finding, it is less about the technology and more about the underlying strategy for enhancing customer relationships.
Our attached white paper, Customer Relationships in a Web 2.0 World, provides additional insights into this issue.
