Business Joins the Party
SOCIAL MEDIA: Online networking is transforming the way businesses operate but few understand its true implications
Social media and its impact on business was mentioned by almost every panel member as a key challenge. Jean-Philippe Courtois president of Microsoft International says: "The explosion of social networking with consumers has changed their expectations about how they can and should connect with businesses. 'Real-time' is a new imperative, which is causing many businesses to rethink their customer relations strategies via digital marketing."
Proactive businessThis means when people start Tweeting or posting on Facebook that they're planning a holiday or buying a car they can be approached pro-actively. The business can come to the consumer instead of the other way round.
This dialogue with customers cannot be ignored, says Kristian Segerstrale, chief executive and co-founder of the large and fast-growing social games company Playfish. "The social media almost takes the ownership of your brand to the community no matter what you do. People with a message are able to get their opinions to mass audiences very quickly about your products, what you are or what you did yesterday."
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