Answer to Question #239313 in Management for Omer kabir

Question

The use of social media has become a routine part of marketing for many companies. Now, some companies are turning to social media as an environmental scanning tool. Companies can use software tools and analytic techniques to learn about competitors, suppliers, and customers from social media sites like LinkedIn and Twitter. It is important to use a strategic approach to the process to avoid becoming overwhelmed and to have the flexibility to respond quickly to trends or other intelligence that is revealed in the social media sites

Part 1: With so much information available through social media, how can businesses focus their efforts to scan for relevant information?

Answer 1

Businesses should focus on detailed information, whereby they will obtain alot of information under a single site or platform. This will be less time-consuming. Business people should also look for sponsored information. Research organizations spend alot of time filtering the best data and information, therefore making it easy for businesses to obtain the best and most relevant information.