"Social media has revolutionised the way that companies engage with their consumers," BrandsEye told CompareGuru. "Gone are the days where the companies were the ones controlling the channels of communication – it is now the savvy consumers who drive the conversation."The company says that this has created a power shift in favour of the public. Not only can people reach companies more easily, but they can share their grievances on a public platform. People also often prefer contacting companies via social media instead of traditional channels.
"At the end of the day, it is generally quicker than traditional customer service channels, leads to faster response times from the companies. Done well, it means you don’t need to spend 40 minutes waiting on the phone only to find out that you are not speaking to the right department," BrandsEye says.Did you know that you can stand to save up to 35% on your monthly premiums by combining your car and home insurance? CLICK BELOW to get multiple quotes!
"A complaint that was previously isolated to one person, can quickly go viral, and move from just a small local conversation around a brand to a truly global one seen by millions of people."
"There are a lot of great companies out there, but if we had to choose one it would probably be Capitec Bank," BrandsEye says. "They have made amazing strides in the competitive South African retail banking market. This growth has been driven by various factors with innovation and excellent customer service being at the heart."In a 2016 study, BrandsEye observed that Capitec has the most positive sentiment from South African banking customers.
"They are the most loved bank in South Africa based on social sentiment which has been driven by their customer-centric approach and light-hearted persona online."
"In today’s age of action, people expect a quick response, even if it is initially in the form of an automated response," BrandsEye says."From here consumers generally expect a tailored response from the specific department in question." BrandsEye adds that the slower the resolution of the query, the more of a problem it becomes for the brand's image.
"The longer a customer has to wait, the greater the risk of them highlighting their experience on a public platform such as Twitter or Facebook."So while social media often criticised for its effects, it has also put new power into consumers' hands.