Social networks have become a crucial part of marketing as well as brand management for businesses worldwide. In today’s connected world, videos, blogs, pictures, and comments play a big role in perception management. Hence, it becomes essential to constantly monitor social networks and act on them swiftly.
More than ever, people are blogging, tweeting, and posting opinions about services, products, and brands, and using these postings as a source of information when they make purchase decisions. One study showed that a one-star increase in a restaurant's Yelp rating led to a 5 to 9% increase in its revenue.