profit

Are brands overestimating the value of social data?

Brands love social media, and as evidenced by the number of high-dollar acquisitions of social media monitoring and analytics firms last year, they love the data that social media generates.

And, on the surface, there’s a good reason for that: popular social networks like Facebook and Twitter give brands a front-row seat to the collective conversation consumers are having about their products and services. From that conversation, brands may, in theory, be able to gain valuable insights that help them connect with consumers and serve them better.

Should you ever pay a prospective customer?

At the end of the day, most successful businesses do one simple thing: they sell a product or service at a profit.

But building a successful business is anything but simple. There are many challenges, and one of the biggest is acquiring customers.