What do you like best?
Bit.ly is great because it allows for simple link shortening in a very quick and intuitive way. MY company does a great deal of print communication, and our long website links simply don't work. This is also great for use in our text blasts, and ultimately makes our audience more responsive to some of our communications.
What do you dislike?
I know that there are more elegant solutions out there as far as obtaining more trackable and branded links. Bit.ly doesn't not provide this in any quick or convenient manner, and rather serves it purpose as a basic link shortener. Contacting their customer service team to inquire about rates for an enterprise account has proven to be difficult.
Recommendations to others considering the product
Absolutely go ahead and give bit.ly a shot if you are considering something to help in campaign monitoring, especially if you have yet to implement in this area. It's a great starting point.
What business problems are you solving with the product? What benefits have you realized?
My team has realized the benefits of using shortened links for print and social media in seeing an increase of clickthroughs. We generally work with an audience that is not comprised of digital natives, so the less there is to type in the browser bar from a flyer or print piece, the better. We can keep a birds eye views on clicks without sifting through our webpage or social analytics, which proofs to be beneficial in short-term campaign adjustments.