Using Social Networks for Feedback

For any organization, their customers are their biggest asset. It is not because of the money they spend, but because of the thoughts and feedback they provide. These feedbacks help and contribute towards company's future benefits. Companies can deliver new services or bypass intermediaries by establishing direct contact with customers. Companies can also use internet technologies to personalize interactions with customers and built loyalty. This can be done by tailoring information and service options on the site to the needs of the customers. Using social networks for feedback is one such option.Using social networks for feedback can help a company to provide new services inexpensively. A company can make use of the data from its entire customer base to provide its customers with wide ranging knowledge of some topic. If a customer has problem with a product, he can refer to the frequently asked questions on a site's directory to know how others had solved the problem before. He can also get an idea on how other customers are using that particular product.Using social networks for feedback acts as a network i.e. computer systems all over the world linked together so that data can be passed between them. Dell was the first company using social networks for feedback. Social network gives instant access to people's feedback and provides a platform to gain that insight. Some companies create their own networks to gain the feedback from its customers. There is tremendous benefit in doing so. Most of the companies take maximum advantage of the internet since it is quite new and offers opportunities to xperiment. Companies can offer different types of services over the internet. In some cases, they are simply substituting the services offered by a salesperson. Social networks help to create and build customers loyalty. Using social networks for feedback creates a control over your customers. You get clear idea about your customer's feedback. Through social networks, you can meet thousands of customers and receive their feedback at just a single go. Social networking works as a word of mouth marketing and advertising. This process goes on by telling few people which in turn tell others and those others tell whom they know, so it goes on and on and is word of mouth marketing  for the product. Social networks are valuable because it allows them to keep a track on their business process. Using social networking is the biggest benefit to the marketers because it helps to reduce the cost.Social networking acts as a two way conversation between the company and its customers. It helps to build or establishes a trust worthy relationship between the customers and the company. Company can get a clear idea about what the customer want which is understood by their feedbacks and they can respond to it at its earliest. Social networking doest not mean to make friends online but to create and build strong relationships with them. Many companies are getting used to social networking because of the influence they create in the minds of the people and have proved to be the backbone of many business proceedings. Social networking helps to create and derive great competitive advantage.