1. Quantifying customer value
Customer value is measured by purchase and social behaviours using two metrics, influencer value and contributor value.
Influence value: this can include social media monitoring, text mining. Ways to estimate the value of data sources such as number of contacts on social networks, followers, comments on blogs, number of posts and status updates.
Contributor value: content by customers has value to companies. Forums and product reviews are the most common ways this value is generated.
2. Amplified experiences
Social marketing provides a platform for customers to express their thoughts to an audience, which can create a view for a wider audience. A happy or unhappy customer can broadcast their feelings to their network quickly and effectively leading to an impact on your brand.
3. Accelerated interactions
Customers can find out more about your brand through user generated content directly or indirectly. Review sites and social loyalty encourage content contribution and greater participation in user-generated content.
4. Cultivating relationships
Companies interacting with customers enables a needed service and support and can allow you to identify the most viral, loyal and social customers and develop relationships.