A recent study begins to answer the question of the efficacy of social media and whether it’s worth the investment. We’ve always been of the opinion that social media is here to stay, and it can be a valuable resource for your business. FedEx and Ketchum recently conducted a study of a smattering of large companies that proves this point: social media is transforming and becoming much more important.
In the study, large companies (we’re talking those with 2,000 or more employees and revenue over $2.5 billion) have deepened their focus on social media to become what are now being called “social businesses.” This term is still being defined, but entails leveraging social tools to transform the way companies interact with internal and external stakeholders. Elements of social businesses include a flow of information outside and in, flexibility and distribution of ownership of the social media tools throughout the organization.
Companies surveyed are from many industries (you’ll be interested to note that GM is on there, recently in the spotlight for its much publicized departure from Facebook ads) and are both B2B and B2C.
While the primary objective is to enhance brand awareness and reputation, the study found that social media is shifting away from just the marketing departments and spread throughout the organizations, from the employees to the executives. Forty-four percent of the surveyed companies reported that they constantly engage employees through social media.
Large companies are realizing that becoming “social businesses” is how they can stay ahead of the game. The entire study is worth a read, but the most valuable takeaway is that these organizations are not only leveraging social tools to interact with their customers but also their employees. They’re using the tools to increase engagement on all levels. All other businesses should be doing this too.
Here’s the full study.