Some thoughts on Social Media as an effective business communications tool according to a survey of 200 chief executives by public relations firm Burson-Marsteller and PRWeek.
48% say they lack relevance to the target stakeholder groups
37% voice concern about losing control of their message
28% worry about return on the investment
23% blame a lack of knowledge and capability within the company
While 62% see social media as having an impact on a company’s reputation, only 48% say it can change sales.
I would argue that companies that are not recognizing and fully exploiting the potential of Social Media will eventually be left in the dust of their competition. Any medium that can impact your company’s reputation can also impact your company’s bottom line. Ideas spread as fast as scandal. While you’re thinking that it lacks relevance, your competitors are exploring ways to harvest and act on innovative ideas and emerging trends.