With the rapid growth of social media, it is becoming important for companies to manage their social media aspects. People are constantly talking about brands, products, services & others on social media sites. This gives a rich amount of information to companies to mine & analyze. This also them to improve their service offering. Facebook, twitter, youtube, linkedin, yelp & others are some of the important sites where there is constant flow of information. Many companies are setting up social media command centers to monitor the conversation. This helps them to get information & also provide responses to social media questions.
With the advent of web 2.0, online reviews is playing a critical role in the sales of products & services. People before deciding the purchase, are visiting the review sites to get opinion. There are several review sites like imdb for moviews, yelp for restaurants, naaptol for electronics, amazon for books, mouthshut & others. Marketers can utilize the information found in reviews to better target the offers. There have been allegations of reviews being written to influence the users. With social media, users are expressing reviews in twitter, facebook & blogs as well. As in the case of netflix price increase, users have flooded the communities with negetive comments about price hike.