Trending now: The Web 2.0 data-monetization opportunity
by Guido Frisiani, Gloria Macias-Lizaso Miranda, and Daniel Singer
Web 2.0 is dramatically transforming how consumers communicate and relate to others.
A recent survey conducted by McKinsey among Internet users reveals that in countries where social networks are used heavily, more traditional means of communication (such as e-mail, SMS, or telephone) are used much less. Such networks are often open, giving marketers masses of data to leverage for greater insight into consumer preferences, brand affinity, or desirable features of a new product. It can even be used to manage customer satisfaction.
Social media can completely transform traditional approaches to consumer research. By monitoring what is said about a brand or a product in social networks, a marketer can gain unbiased information. Furthermore, this information is close to real time, at scale and at much lower costs.
Download this article to find out what companies need to do to monetize this data.
This article was first published in RECALL No. 15. To read more articles about Monetizing Data, please visit our Telecom, Media and High Tech Extranet and register for free access.
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