Facing Up - Social Networks Coming to an Interaction Near You - Avaya

February 13, 2008 | Author: Zack TaylorFacing Up - Social Networks Coming to an Interaction Near You

The ever-growing popularity of social networks is allowing sites like Facebook to thread their way into more mainstream brands. On January 30th, the Wall Street Journal added a feature that allows subscribers to see which WSJ stories are popular among their Facebook friends.

The "most popular" entrees on web sites are often the most visited. That’s because people are inherently interested in "what's hot”. It’s also the reason the internet is the perfect medium to recommend reading, aggregate click streams, and forward links to generate the equivalent of a “buzz index”.

The Wall Street Journal application takes this notion one step further, creating the equivalent of a "personal buzz index". "What are people like me interested in today?” That’s the question being answered. And more specifically, "What are trusted people in my social network interested in?"

Now think about reversing the process. Companies could potentially push invitations and interactions to their customers based on what they have in common with them – starting with the fact that they provide them with a product or service. In other words, massive personalization – a holy grail that has been pursued for years.

Posted by Zack Taylor at 11:56 on Feb 13, 2008

Axel Schultze said...
Posted at 12:20 on Feb 15, 2008

And the next interesting wave is when social software is becoming available to corporations. Wouldn't it be great to introduce a new prospect to a community of customers to create trust and reputation early on - instead of being bombarded by cold calls and advertising? Wouldn't it be comfortable for the new customer to get engaged with other users, partners and experts on a place where everybody can express their very own experience? Or getting partners involved in a way where the whole ecosystem is built on expertise, trust and relationships rather than CRM entries?

And if we take it further: Assuming a company has 5,000 partners around the world, and further assume each partner has 10 sales people on average who in turn have 50 customers each. That means access to 2.5 Million Customers. But only in a trusted business community that access could come reality.

YES! Social networks are powerful and may unfold it's greatest powers when intelligently used in business.

Axel

Navtej Kohli said...
Posted at 00:44 on Feb 22, 2008

Social behavior and community feedback is very beneficial to gain reliable and profitable customers. Many big companies like Amazon and Dell are taking measures to promote their products and services through community marketing.

Navtej Kohli

Zack Taylor said...
Posted at 16:21 on Feb 28, 2008

Hi Axel and Navtej

Thanks for your comments and they are spot on as we are in the middle of a tranformation you both so well describe. The issue of trust within a social network is something that cannot be emualted by a third party easily, and speaks to the "stickiness" many companies strive for. It seems that the "R", in CRM is being fostered in the external world in a way that we would have never considered even a few years ago.

~ Zack

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