Companies diligently establish Twitter feeds and branded Facebook pages, but few have a deep understanding of exactly how social media interacts with consumers to expand product and brand recognition, drive sales and profitability, and engender loyalty.
There are two interrelated reasons why social media remains an enigma wrapped in a riddle for many executives, particularly nonmarketers. The first is its seemingly nebulous nature. It's no secret that consumers increasingly go online to discuss products and brands, seek advice, and offer guidance. Yet it's often difficult to see where and how to influence these conversations. Second, there's no single measure of social media's financial impact, and many companies find that it's difficult to justify devoting significant resources - financial or human - to an activity whose precise effect remains unclear.
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Keywords: Retail, Business Strategy Alignment, Supply Chain Analysis & Consulting, Global Supply Chain Management, financial impact of social media
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