By Taposh Dutta Roy and Rekha Rajasekharan
"My life has become a lot more interesting," thought Chuck while brunching with three friends on the Horn Blower Cruise in San Francisco. In fact, thanks to Groupon, Chuck and 5000 of his fellow Groupon groupies all had the opportunity to enjoy the Horn Blower Cruise Brunch for just $35 – a discount of $40 per person. How was such a massive discount offer possible? Simple: the power of Social Media.
"The Cluetrain Manifesto1" pointed out that "Markets are Conversations". And to be successful, commerce needs to be rooted in the needs of its target market. Marketing teams have finally started investing in conversations with end users. In this article, we discuss the impact of social media on individuals and businesses and provide an insight as to what consultants need to know while recommending strategies for Social Media to their clients.
