Social Media Is The Next Big Frontier For Customer Interaction: Frost & Sullivan

In an increasingly complex business environment, improving the customer experience continues to be a top priority for businesses who want to drive revenue and profitability. Achieving this goal while sustaining operational excellence becomes increasingly challenging as customers exert power in a multi-channel world and companies struggle with an explosion of data.

"Social media is rapidly emerging as the next big frontier for customer engagement and interaction," said Nitin Bhat, Partner & Head of Consulting, Frost & Sullivan. "Millions of customer interactions take place every day on social media sites such as Facebook, Twitter, and YouTube, besides other customer support forums and online communities. Therefore, it has become imperative for companies to possess a sound social media customer engagement strategy."

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He added, "Any medium that is accessed by a large number of people can qualify as a potential contact channel. With over a billion users in Asia Pacific alone, social media has established itself as the latest customer contact channel. Its impact on society, in general, has been immense, where it has become a cultural phenomenon, empowering people to interact, participate, and share ideas and opinions. Today, it is also a business phenomenon with many firms leveraging its benefits to improve collaboration with end users."

Bhat discussed how enterprises need to anticipate their customers' needs and proactively reach out to their customers by delivering multichannel customer experience, improved customer experience in the social media forefront and the need for well-trained agents.