The advent of social media has changed the ways in which people are interacting and transacting in the online world. The consumer is airing his views about products and services, influencing the purchase decisions of millions of customers across the globe. With this shifting of power from marketers to customers, the fashion industry can’t afford to ignore the customer sentiment presented through the conversations going on in the social media sphere. Soliciting these conversations, paying attention to the advices and integrating them into the Product Lifecycle Management (PLM), will save manufacturers several marketing dollars.

Social media can help an organization in:

• Sharing information about new products and services
• Analyzing reviews and feedback for an in-depth understanding of customer needs
• Quickly responding to prospects and customers thus bringing the organization closer to customers
• Accelerating growth by taking inputs directly from the customers

Aided by social media, collaboration has become the new buzzword in product development and lifecycle management, and it includes all the stakeholders in the product development process. Organizations are increasingly using social computing techniques to build and retain product development dialogue, and to create and leverage empowered virtual teams. The fashion industry is increasingly realizing the importance of a common community space wherein people can contribute to the central idea pool, especially in the early phases of a project.

Integrating social media into their PLM solutions can present innumerable opportunities to the fashion fraternity by offering them a platform to gather valuable information that can help organizations in making a plan for the season, in increasing the consumer base, and in ensuring a long term presence in the market. Social media has the potential to take the PLM to a different level, once organizations realize that social media can provide a collaborative platform among the various individuals and groups working together in product development.

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