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Top 20+ social media impact on business

The rise of social media has given customers unprecedented access to companies. This can be a double-edged sword: companies are able to communicate with customers in more ways than ever, but they need to be aware that communication is a two-way process.

Customer expectations have risen accordingly and they are willing to act against companies who don’t meet their expectations:

Social media impact on business – Failure

 Social media impact on business – Attack

The organisation of the furture will be more transparent than ever before. Firms will find it increasingly hard to hide poor service, high pricing or unpopular practices, as technology makes them more visible to end-consumers. Just as social media aided political protests around the world, so too will it allow consumers to put firms in the spotlight. In the austere decade that lies ahead, firms will need to behave better than ever, or risk a consumer backlash.

What is the most cringe worthy social media fail you’ve ever seen?

 

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Top 20+ social media impact on business — http://www.torbenrick.eu/t/r/mqs

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About the author
Torben Rick

Experienced senior executive, both at a strategic and operational level, with strong track record in developing, driving and managing business improvement and development and change management. International experience from management positions in Denmark, Germany and Switzerland

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About the author
Torben Rick

Experienced senior executive, both at a strategic and operational level, with strong track record in developing, driving and managing business improvement and development and change management. International experience from management positions in Denmark, Germany and Switzerland

View full profile

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