How To Use Social Data To Make Your Online Business Successful: Part 1
According to Mr. Clayton Christensen, who has written 'Innovator's Dilemma,' the word 'Innovative Disruption' denotes an organization or entrepreneur foreseeing customer's requirements, aligning with the customer with passion and tapping a market where none existed.
Today, online retail business has seen tremendous transformation aka innovative disruption in the form of incoming social data. Juxtaposing the information gleaned from the social data with innovative business strategies is the need of the hour for forward-looking online retail firms.
Why Social Data is Important?
- Smart online retail marketers are now relying on social data more than ever to inform, test, devise and implement their strategies.
- Personalization, new and improved products, sales conversion, after-sales service-everything is possible with intelligent interpretation of social data.
- Careful analysis of customer behaviors and trends will facilitate online retailers to sustain their focus and attain tangible outcomes.
- To outsmart competition, reap better and faster RoI, thrive in the business and above all, to become a people-friendly organization.
There have been many white papers, research works and case studies written about how to run a successful retail business. Having such a broad subject and with so many critical elements playing a crucial role in deciding about the online retail business success, it could be a tough task to boil down to a short list of actionable items.
Nevertheless, across all these bountiful information available at diverse online and offline platforms, there are certain common themes to achieve retail business success. We will dwell more on this in the following part.
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