QSTP TECHtalks sheds light on the power of social media

Andrew Bone, Regional Director of international PR firm, Hill & Knowlton, who spoke at the networking event last night, explained why social media is becoming ever more prolific and significant, and how companies can use this diverse tool to assist their businesses.

Social media can build or break a brand, yet it is evolving so rapidly that many companies shy away from creating, maintaining and managing their reputations through online media,"said Bone.

""There has been a power shift. The web is no longer a passive data collection point for corporate information, it has matured in to a dynamic organism with the power in the hands of consumers who endorse and validate their own purchasing decisions through social online conversations."

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"The fact is that no matter what consumers hear, read or find on TV, radio, in a magazine or newspaper, they verify their opinions by talking to people like themselves online." continued Bone.

Using real-life case studies Bone, who has over 20 years communications experience in reputation management, demonstrated how businesses could and should effectively use the tools of social media to maintain and even improve product endorsement and word of mouth recommendation. He said that 81% of consumers aged 30 to 64 use the web to research products or services and 50% have checked product reviews from other customers.

"With such high figures, no company can afford to ignore social media if it is aiming to succeed in a busy consumer or business market", stressed Bone.

The QSTP TECHtalks continue in April, with a focus on the top IT trends for 2008.