Over 30% of organisations expect investments in social media platforms to increase more than 10% over the next 12 months, according to Oracle.
This shows that listening to consumers and engaging them on social media are increasingly becoming important to businesses, said Oracle Asia Pacific senior director of CRM applications product management Chandru Relwani.
"With the proper social media solutions in place, companies can go straight to consumers to solve problems expressed on social media before negative issues go viral," he said.
Harnessing the potential of social media will reinforce brand messaging and allow businesses to provide targeted offers and services.
“Businesses today are diving into the social media space to transform the traditional ways of engaging customers by establishing two-way interactions,” said Relwani.
“This began to evolve two to three years ago when organisations realised they needed to get their messages out on social media networks like Facebook, LinkedIn and Twitter.”
Relwani said that many organisations have matured, and have moved from “marketing-only” social media strategy to using social media channels to improve brand value and hire talents.
According to Oracle Corp Malaysia country manager Nik Feizal, the company's Data-as-a-Service for social and marketing solution will give organisations the ability to turn unstructured social media data into information on consumers, competitors and market trends that they can use.
Its solution will allows companies to extract posts with related keywords and trends from social media accounts, so that they can immediately respond to the issues.
“Oracle’s Data-as-a-Service for social and marketing solution enables organisations to establish a social platform to service customers and use social media insights for stronger marketing messages, or 'listen' across social media platforms for clues to better product development,” said Nik Feizal.
Nik Feizal said Oracle is looking at the telecommunications, finance and public sector as the growth driver for its social platform solution.