"An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage." Though these words were uttered years ago by Jack Welch, former chairman and CEO of General Electric, they are increasingly compelling today.
According to a recent Forrester Research study on behalf of Dell, companies that implement listening and digital engagement initiatives see better customer satisfaction scores, loyalty, and brand metrics. The survey found that more than three-quarters of companies monitor online conversations and respond to customer feedback through social media.
While responding to customer feedback is critical, the real bottom-line value of listening is turning the insight gleaned from online conversations about your brand into actionable data used to drive marketing and operations strategies—and even more importantly to influence and change behavior within a target audience.