Social media is a critical data source.
Social media creates a channel to engage clients and build loyalty. The real value is its ability to add a new dimension to the entire product lifecycle and create more regular interaction across the lifespan of a product or service. This information can be instrumental in wringing greater value out of existing products while providing invaluable insight as new products are developed. Despite this, most companies have yet to embrace the benefits these tools can provide: Among the total pool of survey respondents, only 37 percent have invested in social media tools to reach customers. Industries who have invested more significantly on engagement customer through social media include the Retail and Consumer sector (51 percent) and the Industrial Product sector (50 percent).
"Many products and services have finite points in time during which there is a customer engagement," says Chris Curran, a principal at PwC. Social media, he adds, "allows you to create more regular interaction across the lifespan of a product or service
What types of external Social Media does your company currently use for business purposes?Top Performers
71%The most frequently cited form of social media for individual respondents was LinkedIn, while for their company, it was Facebook...
4th Annual Digital IQ Survey
The 4th Annual Digital IQ Survey includes respondents from nearly 500 US companies about the current state of their technology-related activities and plans for the future
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