BTE 210 Lecture Notes - Lecture 7: Linkedin, Focus Group, Groupon

• School: University of Miami
• Department: Business Technology
• Course: BTE 210
• Professor: Maikel Leon- Espinsoa

Document Summary

Sc in business (social commerce): benefits to customers. Better and faster vendor responses to complaints (on twitter, facebook, and youtube) Customers can assist other customers (ex: in online forums) Custo(cid:373)e(cid:396)s" e(cid:454)pe(cid:272)tatio(cid:374)s (cid:272)a(cid:374) (cid:271)e (cid:373)et more fully and quickly. Custo(cid:373)e(cid:396)s (cid:272)a(cid:374) easil(cid:455) sea(cid:396)(cid:272)h, li(cid:374)k, (cid:272)hat, a(cid:374)d (cid:271)u(cid:455) (cid:449)hile sta(cid:455)i(cid:374)g o(cid:374) a so(cid:272)ial (cid:374)et(cid:449)o(cid:396)k"s page. Can test new products and ideas quickly and inexpensively. Create more effective marketing campaigns and brand awareness. Use low-cost user-generated content, for example, in marketing campaigns. Increase sales when customers discuss products positively on social networking site. Data leakage of personal info or corporate strategic info. Poo(cid:396) o(cid:396) (cid:271)iased (cid:395)ualit(cid:455) of use(cid:396)s" ge(cid:374)e(cid:396)ated (cid:272)o(cid:374)te(cid:374)t. Group shopping: offer major discount during a short time frame (groupon) Customer sentiment expressed on facebook, twitter, linkedin and similar sites represent an incredibly valuable source of info for companies. By analyzing these data, companies conduct better advertising campaigns, improve their product design and their service offerings.