Now matter how they toss the dice, your ability to navigate the social networks around you and your customers sets you up for success. Social networks point the way to understanding what makes your customer happy though connections, preferences, opinions, activities, needs, and likes. But customers now see better than ever what their social profiles are actually worth. They will want to understand in what way their personal data is monetized. Privacy and personal data security have taken a front row seat. Handle this digital "egosystem" proactively with proper care, timing, and empathy, and you’ll thrive on trustworthiness together with your customers.
- Mastering the social network of customers—with all its digital platforms, tools, technologies, and communities—presents crucial yet disruptive growth capital for organizations.
- Personal profile data that reflects this social network provides powerful input to activities such as innovation, product management, marketing, sales, and customer service.
- The privacy and security of this data are, however, quickly becoming a key element to master, if only to comply with stricter rules and regulations (such as GDPR in Europe).
- A trustworthy brand with the customer’s perspective radically central is the best way to establish extraordinary connections that deliver extraordinary results.
- A major consumer goods company created a focused “People Data Center” that captures and analyzes social media data across various social networks. They then made it available to all business units for use in product management, marketing, campaigns, and customer support.
- A utility company positioned itself as the “Most Social Utility in Canada,” connecting with customers and trading partners through multiple social channels and progressively using innovative technologies and media.
- The Consumer Goods Forum defined seven clear principles for consumer engagement to which organizations should commit in order to build trust and engage with connected customers.
- Become—and stay—more relevant to customers through a proactive, connected dialogue
- Anticipate trends, opportunities, and threats
- Skip activities that dilute the richness of social content and context
- Build better, more meaningful, and more sustainable relationships with customers from a trustworthy brand
- Enrich products and services with additional social layers and capabilities, and build new revenue streams
- Monetize social profile data in and outside the company
- Social Technology Platforms
- Revenue Management Platforms
- Specialized social technologies