Understanding the real impact of social media monitoring on the value chain

More and more companies have turned to social media monitoring or social listening tools to find the critical insights hidden among the noise of the social sphere. In fact, data from Aberdeen Group's Omni-Channel Customer Experience survey suggests that 48 per cent of companies have deployed social media monitoring and that an additional 38 per cent plan to implement these tools.

With the help of this technology, companies can use the voice of the customer to make critical adjustments and find issues related to inventory allocation, order management, returns management, cost, overall service satisfaction and beyond. This document will detail the form, extent, and impact of social media monitoring and analytics on supply chain processes and e-commerce initiatives.

Companies are under incredible pressure to stay ahead of the ever evolving customer base. For example, 59 per cent of survey respondents indicated that a lack of consumer insights is their top data-related pain point. Part of the problem has been the advent of social media, which has thoroughly changed the customer dynamic. As a result of social media, customers are: more Influential, more demanding, and more mobile.

Or, in the words of a leading North American retailer: "Customers simply want it now. The product must be available, shipping or pick up easy, payment a non-event. Price compression in consumer electronics means you have to get every sale. Making sure your customer can get what they when they want is paramount to growing your business."

To explore more insights, just download the full Aberdeen Group eBook (PDF) on social media analytics below.