Social media: Opportunity and challenges for corporates

Social media: Opportunity and challenges for corporates

 

Print and electronic media no longer dominates the communication business. Now social media has taken centre stage. This radical change in media and communication industry sets new rules and new technology giant organizations have emerged like google, Facebook, twitter, linked-in and many more. Consumer behaviour has changed and smartphone and apps became the tool of quick, interactive social instruments of communications.

 

Social media usages have gone up significantly with the increased penetration of smart phones. New technology friendly companies have started leveraging social media platforms for B2B and B2C interactions. More and more companies are planning to use mobile apps to manage supply chain, real time sales report and predictive analysis. Many companies are using Facebook pages, like and comments for sentiment analysis to improve customer satisfaction. The real challenge for corporates would be to integrate traditional and online channels and manage unified customer experience.

 

With increase adoption of social media, smart phones and mobile apps, the natural question is what is the future trend of this revolution? How can enterprise take advantage of this technology to manage internal issues of employees? Can we improve employee engagement and reduce attrition rate using concepts of corporate sentiment analysis. Can we take advantage of social media technology in the context of managing internal communication issues?

 

Starting from a mere communication tool for friends’ community, social media has now become an effective tool of communication. From friends to family, groups to individual and government to companies, this revolution has completely changed our interpersonal communication. Will this new technology help companies manage their employees and customers better or it will bring more challenges to satisfy them?