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Sunday, July 24, 2011

Harnessing the power of social media to attract, retain customers!


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Ravi Shankar / The Hindu / July 23, 2011.

Ravi Shankar, Senior Director, MDM Product Marketing, Informatica. Photo: Special Arrangement
Ravi Shankar, Senior Director, MDM Product Marketing, Informatica. Photo: Special Arrangement - The Hindu.

Fans are a powerful viral marketing force who can influence many, but cultivating those customers requires an insight into the dynamics of social media data.
Who's your most valuable customer? Is it the one who buys the most or the one who influences other buyers via social media, effectively doubling as a salesperson?
It's an intriguing question as companies seek to capitalise on social media data to attract and retain customers. 

A key segment is the customers who endorse products and services via Facebook updates, tweets, videos, blogs and more.

These fans are a powerful viral marketing force who influence an extended network of followers with an estimated 50 million tweets and 60 million Facebook updates a day. But cultivating those customers requires an insight into the dynamics of social media data.

Suppose you could learn from a Facebook fan that her son is looking for colleges, she's shopping for a new car, and that she likes cooking. That's invaluable information for targeted marketing available nowhere else. 

And if you can cultivate that customer, you can benefit from the viral marketing effect when she tweets or posts about your product to her friends, and friends of those friends.


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