The rise of social media has changed customer service beyond recognition.
In today’s competitive landscape, customer service is more important than ever. A company’s reputation for satisfying their customers has never been so valuable.
It’s worth pointing out that it takes three times as much internal resources to acquire a new customer as it does to retain one. In these lean times it puts an awful lot of pressure on companies to ensure retention rates are as high as possible. And good customer service is a great tool to do this.
But are companies getting it? Does it look like big corporates are responding to this change in the landscape?
The short answer is no:
To be fair, things are changing. By the end of the year, 75% of US-based companies expect to use social media for customer service. It’s a reaction to the changing game. Gone are the days when social media was all about marketing through Twitter and Facebook. It’s now an integral tool to ensure you are responsive not reactive, contactable not aloof and authentic not robotic. And increasingly, it’s about solving customer’s issues in real time through social channels, showing your dedication and transparency to your customers.
Article by Harry Rollason @ www.usefulsocialmedia.com
Whether it’s their free advertising, their ability to help your reach pretty much everyone in the world, or their ability to help your customers tell everyone in the world if you screw up or do great, whether you like it or not, Facebook has changed how we all approach business. We will have all heard about Facebook’s imminent IPO planning to raise $5 billion however what you might not have realised is Facebook is actually worth $100 billion.
This is a little section I’d like to call ‘Facebook is worth more than…’
Facebook is worth more than… 50 Naval Submarines (they cost about $2 billion each to build)
Facebook is worth more than… Brazil’s 2011 Travel and Tourism Budget ($74 billion)
Facebook is worth more than… The Gulf war (that cost $96 billion)
Facebook is worth more than… 6 years of US Breast Cancer Treatment ($16.5 billion per year)
Facebook is worth more than… The Hurricane Katrina clean up (that was $81 billion)
Facebook is worth more than… 2 and a half Olympic games (Beijing Olympics were $40 billion)
Facebook is worth more than… Coffee (the worlds coffee industry is worth just under $100 billion)
Facebook is worth more than… 120 Eiffel Towers (about $820 million to build one in today’s market)
…and last but not least, Facebook is worth more than… Qatar (their GDP is about $98 billion)
Thanks to Mashable for the cool facts, and thanks to Bono (he owns 1.5% of Facebook)