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According to a recent research of Shyam Gopinath, Jacquelyn Thomas and Lakshman Krishnamurthi, there is a measurable connection between what is being said about a product in online posts and real-time customer behavior. Research showed that if you ask people what’s most important to them in evaluating a product, they say, ‘What other people like me say about it.’ Meaning that that a relatively small group of people in online communities can have a substantial influence on purchase decisions. What is crucial for brands is to track the conversations happening online, as understanding people's attitudes towards your products give you the chance to react accordingly and implement necessary changes. It makes online conversations to be your focus group on steroids, wisdom of the crowds delivering you valuable inisghts that can fuel your product strategies.
“An Internet-armed consumer can become your greatest asset or your worst nightmare.”
Read more here on Kellogg Insight website
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