Social graphs, a concept popularised by Facebook, are gaining traction in the business world. These graphs map out relationships between individuals, giving companies a comprehensive understanding of their customers’ networks and interactions. Businesses are leveraging social graphs to enhance their marketing strategies, improve customer service, and boost sales.
Companies like LinkedIn and Google are already using social graphs to their advantage. LinkedIn’s ‘People You May Know’ feature, which suggests potential connections based on shared contacts, is an example of a social graph in action. Google, on the other hand, uses social graphs to improve search results by incorporating data from Google+.
Social graphs can also help businesses identify key influencers within their customer base. By tracking interactions and relationships, companies can pinpoint individuals who have the most sway over their peers. These influencers can then be targeted with specific marketing campaigns to maximise impact.
However, the use of social graphs raises questions about privacy. Businesses must ensure they are transparent about their data collection methods and that they comply with all relevant regulations. Despite these challenges, the potential benefits of social graphs make them an exciting prospect for businesses looking to gain a competitive edge.
Go to source article: https://hbr.org/2015/02/the-rise-of-social-graphs-for-businesses