First - a definition for Social Media Monitoring is needed. Its not a car - but it is a vehicle for acquiring and sharing knowledge. I define SMM as the monitoring, via software, of Blogs, Wikis, Podcasts, Online Discussion Groups and Forums and any freely accessible data from Social Networking communities.
I read often that the rules of social influence are gaining precedence over other approaches - the proof of this is seen in every day life. Latest example for me was seeing a movie with my wife last weekend. We looked at the critics comments for “The Bucket List” - and saw C- and thought shoot - it looked good with Jack and Morgan in the lead roles. But we checked online to see what viewers were saying - and we got a B+ average. The audiences’ sample was much larger than the critics - and so we went with the viewers - not the professional critics. We are very, very happy with the decision. B+ was a conservative grade.
If you got this far - let me know what your definition of Social Media Monitoring is - and if you have an example of it helping you make a purchase decision - please share it with our readers.