Topic > “Harnessing the Power of the Oh-So Social Web”

IntroductionThe “groundswell,” which is the term now used for online social technologies, such as blogs, social networking sites like MySpace, and user-generated sites like YouTube and numerous other online communities now common across the Web, it is having a dramatic impact on the way many organizations conduct their marketing strategies. These online social networking sites have enabled the shift of power from companies to the customer, this shift of power is referred to as “customer centric”. Companies can no longer rely on their perception of what customers want or how they want customers to perceive their organization, or products and services. Customers now clash with each other through the numerous social networking sites now available online and often announce their bad experiences with a product or service received from a particular company. This is forcing many organizations to look for new solutions to manage these problems before the situation gets out of hand. Many managers are uncomfortable with this new change and are very afraid of the loss of control they are experiencing, while other managers and companies have embraced the "turf wave" and are implementing new and innovative ways to take advantage of online social networks as a way to promote and market your products and services at a very low cost, while achieving high visibility. They are also forming a strategic framework for developing and implementing social applications appropriate for their organizations' needs. Social applications that some companies are implementing to achieve a variety of business objectives within different departments include:1. Research and Development...... middle of paper ......consumer applications are very effective and are becoming a must for businesses to reach their maximum potential. Social applications generate more accurate search insights, extend marketing reach, increase sales efforts and reduce support costs. The potential customer relationship benefits that social applications can offer are too compelling for companies to deny. While the groundswell can come with its share of risks, addressing it is the best way to foster a “customer-centric” philosophy within a company. It creates a more direct, two-way contact relationship between a company and consumers. It also gives managers direct evidence of how customers think and feel. As the balance of power shifts from the company to the customer, it is becoming contagious for companies to engage in consumer applications in waves.