Some excerpts –
“The explosion of uncontrolled communication and the proliferation of channels represent a whole new ballgame. We CMOs have to pay attention to everything everyone else is saying about our brands, not just what we’re saying about it in our ads, direct mail and PR. What keeps us up at night is an increasing lack of control of both the content and distribution of influential messages about the brands we manage.”
Most companies are still in their infancy using data mining tools for deeper data analysis. On top of that, now they have to worry about social media. But I think companies, especially consumer oriented companies like Dell, HP, P&G, Nestle, McDonald etc would immensely benefit from customer’s rants and raves across Facebook, Twitter, forums etc. Companies “should” monitor and use the feedback received in Social media to better their products. Properly used feedback could help companies optimize business process flows thereby being effective and efficient.
Additionally, sooner or later, I think this will also hit everyone considering we all are part of social media experience.