business news in context, analysis with attitude

CNBC reports on how "customer reviews are carrying more clout than ever before—and a growing number of retailers are tracking every word that's said about them in cyberspace."

Tod Marks, Consumer Reports senior editor, tells CNBC that "many companies now have dedicated employees who do nothing but troll the Internet for corporate references, monitor chat rooms and online forums where there could be a discussion of the brand." And, the story says, "companies will even follow what's said on marketplaces like Amazon about their products, he said. It can be imperative to intercept a potentially negative discussion and rectify a problem before it goes viral." Marks adds that "the effects can be instantaneous—especially when you add the ease of smartphones into the equation."

The whole piece can be found here.
KC's View:
The simple fact is that any company not paying attention to this stuff is putting itself at a potentially grave disadvantage.