Why do some business fail, although they have everything right about them?
Most of the failed businesses and products never got close to the customer and hence died. And it can happen with any organization, department, product or service. We all saw what happened to Orkut. It never could get close to customer’s hearts.
But before we conclude, we should also realize that our habits, as customers are changing, or say have changed so much. We buy stuff cos someone recommends it, we listen to those songs which have bigger downloads numbers… When we search videos on Youtube, we always see which one has maximum plays and we play that one first. Content is never viral, we make it! So now we know how much power ‘all things social’ has given us.
Steve Cowley, Vice President, Industry and Solution Sales, SWG mentions in the video, how the buying habits of the customer has changed depending on what others are buying. In this light, unless your product or services touches peoples heart it will never become a success.
Social tells us, guides us to the best and that is what we call Social Learning. And it’s changing how companies ran businesses, how people interacted, how products were launched and died. Almost all oranizations, today, have online/digital presence dedicated to customers to facilitate lucid interaction. And those who don’t, are forgotten soon.
Social is the new lounge and you better get access before you are considered a Faux Pas!