Marketers must rethink customer value to capitalise on social media
If marketers are to get the most out of their social media efforts, they must re-evaluate the metrics used for determining consumer value and be prepared to work with other departments to enhance the customer experience.
According to a report entitled ‘Re-envisioning Customer Value’ published by the Economist Intelligence Unit and sponsored by analytics software provider SAS, traditional measures of consumer value based on transaction activity are no longer adequate when trying to capture the behaviour and potential worth of individual customers.
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