A more equal footing: How social media have transformed customer relationships

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

New phenomena come and go on a frequent basis. But every now and then something with true game‐changing potential comes to the fore. The business world is rarely immune to any reverberations that ensue. Few would argue that social networking is the latest addition to this category. The unrelenting global expansion of Facebook and Twitter is testimony to that fact. User numbers for these platforms alone are now measured in hundreds of millions. As a result, massive scope exists for organizations to exploit social media as a means of productively engaging with consumers. Given the size of the captive audience, many firms have not surprisingly jumped on the social networking bandwagon. A fear of being left behind is also a motivating factor. However, simply establishing a presence on key sites provides no guarantee of success. Making it fruitful demands significant effort on a company's part, together with the realization that traditional approaches to customer relationship management (CRM) are all but redundant in this online world.

Practical implications

The paper provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to digest format.

Citation

(2012), "A more equal footing: How social media have transformed customer relationships", Strategic Direction, Vol. 28 No. 6, pp. 4-6. https://doi.org/10.1108/02580541211224021