Thursday, 12 September 2013

Microblogging and Allianz Real Estate

I have discussed some of social media tools that assist productivity in an earlier blog post, particularly by using Wikis and Google Docs. Apart from that, there are other social media tools such as blogs and microblogs. In contrast to the blog, microblogging, as defined by Wikipedia, accept smaller amount of content rather than the normal blog. It allows the users to have a two-way communication, have a small conversations and exchange content such as short sentences, images or even video links where you listen and share ideas with others. In this blog post, I’m going to attempt a microblogging value levers for Allianz Real Estate.

Allianz Real Estate is a well-known holding company that based in Munich and Paris and is considered as one of the world's leading property investment and asset managers. They also expand their business to provide and manage commercial real estate loans in different countries. In addition to their official website, Allianz Real Estate communication also takes place in the social networks such as Twitter, Facebook and Google+.

As indicated in the The Social economy report, McKinsey Global Institute, 2012 that professional services depend on social media to conduct the work and sometimes develop new business which is the biggest opportunity to make interactions in more efficient and effective ways through social technologies such as collaboration and knowledge sharing.

Product Development

Implementing Web 2.0 tools help the organization to develop products or services based on customer preferences. Allianz Real Estate have used Twitter to gain more knowledge and communicate product development information in shaping their products by listening to customers‘ conversations. This also make them being able to comment, answer customer queries and provide feedback to people which was not available in other forms of public interface. Introducing Twitter and other interaction tools such as blogs can support product development and co-creation of new development model which differentiate the company with this competitive advantages.

Communication and Customer Service

Web 2.0 tools provide effective ways to open up conversation with customers. In case of Allianz Real Estate, they focus on improving client experience and offering them with highly customized offers. They can talk directly to customers using Twitter to get feedback, information or any ideas from customers. Having such a communication between companies and their customers establishing credibility for the organization and to attract more people to investigate in the company.

And here is an interesting statistics about different social media tools nowadays.

To sum up, Social media can be a powerful and cost-effective channel for any business that strives to produce new products and build brand awareness and credibility between customers. Allianz Real Estate have successfully interact and communicate with a wide range of customers in a timely and effective ways.
What other strategies can Allianz Real Estate could follow to enhance their business?

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