Many businesses have embraced customer centricity as a core principle and have employed social media to make it a reality. According to IBM’s Global CEO Survey, more than 70 percent of CEOs are seeking a better understanding of individual customer needs and improved responsiveness. They also believe social media utilization for customer engagement will increase by 256% over five years to become the second most common way to engage customers after face-to-face interactions.
Instead of treating social networks like broadcast media, leading businesses are using them to engage customers as individuals. Engaged customers feel an authentic connection to companies that reach out to them, and are more likely to think of them when making a purchase. Even better, a business that delivers on value propositions can convert engaged customers into dedicated brand advocates.