Friday, July 27, 2012

Social Media News For The Week Of 7/27/12

McKinsey Says Social Media Could Add $1.3 Trillion to the Economy

The business consulting firm, McKinsey Global Institute, released the results of a study to gauge the value of social technology. The research found that social media could add between $900 billion and $1.3 trillion in value to our economy. This value results from such factors as increased productivity and consumers becoming better focused. Full Story Here:

Social Media Now Embedded in Business

Businesses which were once mystified by social media now consider it vital to their companies. This change, which has come about over the course of the last five years, results from a defensive posture to avoid being left behind by consumers and competitors. Full Story Here:

Big Data Is The Future Of Marketing

Marketing through social media engagement is transforming the way marketers have traditionally presented brands. This transformation will come to complete fruition in the future when brands completely understand their return on investment through data collecting and analytics. These developments are ongoing despite the many doubts by skeptics. Full Story Here:

Study: Organizations Still Fear Social Media

A study of 250 businesses published in the Harvard Business Review has found that half of them have negative attitudes toward social media. 35% of respondents report their attitude to be fearful of the technology. The other half are building and formulating strategies to fully take advantage of the medium. Full Story Here: 

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