Forrester defines Social Intelligence as, “the concept of turning social media data into actionable marketing and business strategy.” An increasing number of marketers are leveraging Social Intelligence to better understand where, when and how to connect with their target audiences. As Social Intelligence can be transformative, a company needs it to maintain meaningful, productive relationships.
How Social Intelligence helps
The social and business strategies of an enterprise can become tangled with the use of Social Intelligence. To produce a substantial value for the organization, the data that is collected from the social sphere is examined. This process aids in disclosing who a customer is, what they may want, and how the customer feels about what they want. With this information the business can anticipate the customer’s needs and try to fulfill them. Organizations need to decide to move from the concept of simply monitoring social data to applying Social Intelligence. With social communities continuing to evolve, those that don’t leverage Social Intelligence won’t be able to act on insights that help them get ahead of competition.
The data collected can be used by businesses to optimize everything from advertising campaigns and engagement programs to product development and revenue efficiencies, and this data can redefine the social landscape. Some of the main trends that drive social intelligence can be identified as:
Social Intelligence, the new business intelligence
Personal interactivity between businesses and individuals is finally being realized through the power of social networks. With the ocean of information that is available with an individual’s social identity, a large number of businesses are able to draw on the enormous amounts of data to engage with their constituents in a personalized approach.
Analytics drives insights
In many organizations, Business Intelligence has been substituted with Social Intelligence. The driving force between an organization’s successes has become the social platform. This is mainly due to the fact that social analytics drives insights. Consequently there is a greater understanding of customers and markets that generates pioneering products, improved customer targeting, better pricing, and advanced growth in both revenue and profits.
Cloud computing to generate more value
Cloud computing revolutionizes the way an organization uses its data. These cloud categories allow organizations to not only integrate business processes with partners and suppliers , but also enable to extract speed to market and agility.
With Social Intelligence being the buzz word in organizations, there is a rethinking in how organizations are thinking their decisions and strategies, even re-coining their vision statements.