Social media has become a platform for all companies to market their brands all around the globe. In fact, many of the leading players in BPM (business process management) have been utilizing social media BPO as a way to build up business and gain a foothold in the industry.
There are some companies like Starbucks that have realized the potential of social media BPO long back in their business operations. This has led them to use social media to their advantage in a big way. Starbucks has about 2.5 million followers and 30 million fans on social media sites such as Twitter and Facebook. While browsing through posts on new brands and services, the followers gain access to a large number of promotional deals. This interface also serves as direct channel for consumers to pass on their complaints the company.
As social media BPO has become the most sought after marketing channel for various enterprises around the world, the opportunities in this sector have given rise to new trends in BPM (business process management). Companies get the chance for identifying new trends among their customers from this platform. They can listen in to the talk that is going around social networking sites and analyze the latest requirements of consumers. Since the data available on these platforms can be easily accessed, companies have a convenient platform in which to market their brands. For instance, many customers of American Express contact them through Twitter, on which the company has about 430,000 followers.
Social media BPO is the new channel for PR
Leading consumer brands such as Nike have followers that come to millions in social networks. The research and consultancy firm BIA/Kelsey had stated in a report released earlier this year that revenues in social media advertising in the United States will increase from $4.7 billion for the year 2012 to $11 billion for 2017. This represents a compound annual growth rate of 18.6%. According to this report, the dominant unit of social advertising is display. In addition, traditional advertising formats that include sponsored stories on Facebook and promoted tweets from Twitter would need to be renovated for the optimization of social campaigns, in particular, with regard to mobile platforms.
Implications in the BPM (business process management) industry
In view of the rising prospects for social media BPO, the BPM (business process management) industry has updated strategies towards developing services with respect to social media monitoring. Reputation management on social media groups is also being offered by BPM companies as part of customer service deals. The significance of providing proper responses to customers through social networking sites has been realized by many leading companies, which takes the industry to new levels in marketing.
Latest technological tools for analytics and data mining are already being developed and outsourced in this domain. Social media BPO appears to be the new trend that will revolutionize the methods of marketing as well as take BPM (business process management) in new directions.