I think social media is an effective tool when it comes to interacting with consumers. However, I am not sure about it's usefulness in the corporate environment with B2B customers. Business users tend to prefer more personalized means of communication.
Social media use is definitely picking up among companies in all fields. This seems to be the preferred route for consumers. Not only are companies saving trees by not printing catalogs that usually get tossed or rarely used, companies can post informative videos that make things easier for buyers.
I would think there would come a point when it would also become annoying to the consumer base
I think that social media is still in its infancy. When i search for something then i always find something useful in the sidebar search results. So, right now its not annoying but this might change when companies start to push for their product aggressively. I also think that social media marketing has a global audience while any other medium has either local or national reach. These are exciting times for web trend analytics.
There is no doubt that social media marketing has become an important and popular method, and integrates well with online ordering of products. I would think there would come a point when it would also become annoying to the consumer base. Do consumers set up special identities for marketing?
"sometimes making online purchases is also frustrating experience."
I agree, but that is how the law of demand and supply works. The best think to do in the future is to place your order earlier. We should also use common sense when we purchase online. Not always what companies write on their website is true. I never believe in "overnight delivery".
"Companies should utilize all the medium possible to reach to the customer."
As more and more people use social media today, companies are developing various social business strategies in order to be more closer to their customers. But there is no universal strategy that works for everybody. Each company should focus more on media that its customers use most.
Best Buy isn't the first company to not have the the technology that alerts them of out-of-stock inventory after taking too many online orders, and they won't be the last until someone comes up with a platform that ties actual inventory into online ordering systems in real time. Do distributors like Digi-Key have this type of platform? I'm not sure. The clothing store Talbots.com had the same problem after Thanksgiving. They offered a sweater for $25. Too many consumers placed an order for the item, and Talbots couldn't fill them all. The companies that can't bridge the gap will lose in the long run because customers will find another company that can.
EBN Dialogue enables and encourages you to participate in live chats with notable leaders and luminaries. Not only editors and journalists, but the entire EBN community is able to comment and ask questions. Listed below are upcoming and archived chats.
Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Microsoft Surface: Potential Winners & Losers What are the implications for the electronics industry supply chain of Microsoft Corp.'s decision to launch its own tablet PC? Join industry veteran and EE Times' systems and OEM expert Rick Merritt on Tuesday, July 3, at 12:00 pm EDT for a Live Chat on this subject.
Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
While no one really can accurately predict the future, we can take guidance from another Drucker saying which is the best way to predict the future is to create it.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.