Report: How Consumer Conversation will Transform Business
19 July 2008
No CommentWhilst laying at the pool today (sue me!) I decided to catch up on some reading. Recently Marco Derksen pointed me in the direction of a report by PricewaterhouseCoopers called: How Consumer Conversation will Transform Business - which they published in their ‘Achieving operational excellence‘ series.
The report is all about why it is important for companies to start listening to their consumers and how the internet driven world is making this both easier and more difficult for marketers.
Image Source: Rissy Janee
The difficulty is in finding which channels are important and when something is an isolated incident or could actually indicate a wider social trend. Thanks to analytics software measuring the consersation online marketers are dealt a much better hand before. It’s not up to them to embrace this information and use it to their benefit.
The report also gives some advice as to how coorporations can integrate this into their exisiting operations, particularly as this new field overlaps several older fields, already well established. Departments such as marketing and sales are obvious, but finance and product development can learn a great deal from this new information, too.
One of the most interesting pieces of information from the report was their analysis of product recalls. According to PWC it is no coincedince that the number of product recalls has dramatically increased ever since the consumer voice has becoming more powerful.
You can download the report here.
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