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Mastering Digital Feedback: How the Best Consumer Companies Use Social Media

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Is your business organized to capitalize on the social dialogue? In this 2013 Global Trend Study ( http://www.tcs.com/socbizstudy ), we survey how large consumer companies are deriving value from social media.

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Mastering Digital Feedback: How the Best Consumer Companies Use Social Media

  1. 1. 1Copyright © 2013 Tata Consultancy Services Limited Mastering Digital Feedback How the Best Consumer Companies use Social Media TCS 2013 Global Trend Study 10KEY FINDINGS www.tcs.com/socbizstudy→
  2. 2. 2 ROI on Social Media: • 38% said positive • 18% said negative • 44% said don’t know KEY FINDING # Mastering Digital Feedback How the Best Consumer Companies use Social Media TCS Global Trend Study 2013 /101 www.tcs.com/socbizstudy→ Tweet this finding
  3. 3. 3 Leaders more likely to have a large internal social circle • Multiple functions across the organization • Working together on social media KEY FINDING # Mastering Digital Feedback How the Best Consumer Companies use Social Media TCS Global Trend Study 2013 /102 www.tcs.com/socbizstudy→ Tweet this finding
  4. 4. 4 Most Successful Industries: • Media, Retail, High Tech, Telco & Travel • Those selling products & services that consumers can be passionate about KEY FINDING # Mastering Digital Feedback How the Best Consumer Companies use Social Media TCS Global Trend Study 2013 /103 www.tcs.com/socbizstudy→ Tweet this finding
  5. 5. 5 Leaders go beyond company pages on public social networks • 70% run an Online Consumer Community (or plan to by 2014) which is double the number of Followers Mastering Digital Feedback How the Best Consumer Companies use Social Media TCS Global Trend Study 2013 /104 www.tcs.com/socbizstudy→ KEY FINDING # Tweet this finding
  6. 6. 6 To leverage social media, corporate cultures need to be more transparent • 89% of the Leaders value consumer opinion vs. 30% of the Followers KEY FINDING # Mastering Digital Feedback How the Best Consumer Companies use Social Media TCS Global Trend Study 2013 /105 www.tcs.com/socbizstudy→ Tweet this finding
  7. 7. 7 Leaders will spend double this year on Social Media vs. Followers • Leaders nearly 4x more likely to have positive ROI KEY FINDING # Mastering Digital Feedback How the Best Consumer Companies use Social Media TCS Global Trend Study 2013 /106 www.tcs.com/socbizstudy→ Tweet this finding
  8. 8. 8 Only 3 business functions actively monitor social dialogue • 69% Marketing • 58% Sales • 49% Customer Service KEY FINDING # Mastering Digital Feedback How the Best Consumer Companies use Social Media TCS Global Trend Study 2013 /107 www.tcs.com/socbizstudy→ Tweet this finding
  9. 9. 9 Functions that should be actively listening, but are not • 27% of R&D • 37% of Product Management KEY FINDING # Mastering Digital Feedback How the Best Consumer Companies use Social Media TCS Global Trend Study 2013 /108 www.tcs.com/socbizstudy→ Tweet this finding
  10. 10. 10 Marketing most frequently controls Social Media. But, most companies aren’t satisfied • Only 42% say that their Social Media structure is effective or highly effective KEY FINDING # Mastering Digital Feedback How the Best Consumer Companies use Social Media TCS Global Trend Study 2013 /109 www.tcs.com/socbizstudy→ Tweet this finding
  11. 11. 11 Companies invest less in Social Media than in Big Data and Digital Mobile Consumers* • 53% will spend < $2.5 million this year on Social Media *based on previous TCS studies 1 KEY FINDING # Mastering Digital Feedback How the Best Consumer Companies use Social Media TCS Global Trend Study 2013 /100 www.tcs.com/socbizstudy→ Tweet this finding
  12. 12. IT Services Business Solutions Consulting www.tcs.com/socbizstudy→ For more insights, visit the TCS Global Trend Study 2013 Mastering Digital Feedback How the Best Consumer Companies use Social Media
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Is your business organized to capitalize on the social dialogue? In this 2013 Global Trend Study ( http://www.tcs.com/socbizstudy ), we survey how large consumer companies are deriving value from social media.

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