http://www.gauravonomics.com/blog/when-should-marketers-use-social-media/ Gaurav Mishra's Weblog on Marketing, Technology & Social Media Wed, 03 Dec 2008 19:38:44 +0000 http://wordpress.org/?v=2.5 http://www.gauravonomics.com/blog/when-should-marketers-use-social-media/#comment-5620 vandana ahuja Mon, 17 Dec 2007 18:41:25 +0000 http://www.gauravonomics.com/blog/when-should-marketers-use-social-media/#comment-5620 Social media's contribution to the dual functions of customer acquisition and retention is undisputed.While it serves the purpose of building brand equity, the customer retention function is dealt with, quiet well with social media. What you describe as engagement can be taken a step ahead as using social media as a tool for monitoring customer satisfaction(which is a function of customer expectation).By using social media to impact the perceived value of a brand, the level of satisfaction can be monitored.Repeated satisfaction coupled with faith in a brand's integrity and reliability(which can also be influenced by relevant organisational posts in the realm of social media)leads to trust. Satisfaction and trust are the key drivers of loyalty. Social media's increasing contribution to the function of CRM is definitely worth a look now!!! Social media’s contribution to the dual functions of customer acquisition and retention is undisputed.While it serves the purpose of building brand equity, the customer retention function is dealt with, quiet well with social media.
What you describe as engagement can be taken a step ahead as using social media as a tool for monitoring customer satisfaction(which is a function of customer expectation).By using social media to impact the perceived value of a brand, the level of satisfaction can be monitored.Repeated satisfaction coupled with faith in a brand’s integrity and reliability(which can also be influenced by relevant organisational posts in the realm of social media)leads to trust.
Satisfaction and trust are the key drivers of loyalty.
Social media’s increasing contribution to the function of CRM is definitely worth a look now!!!

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