Global companies are failing to exploit the business opportunities created by social media.
The B2B sector in particular is failing to spot the benefits and risks of social networking, according to research.
Over half of B2B businesses have no means of tracking conversations about them on social media platforms, according to a survey of over 1,000 global businesses.
The survey, carried out by cloud-based customer experience software maker Satmetrix, found 75% of B2B companies do not measure or quantifying social media activity.
B2C businesses faired a little better, with only 22% having no means of tracking social media conversations and 67% not measuring or quantifying social network references.
Businesses, most notably in the retail sector, are using social media to communicate with potential customers. But 55% of businesses fail to respond to customer feedback.
IDC Retail Insights says 30% of European retailers plan to introduce social media tools in the next two years.
“Businesses recognise the need for a social media strategy, however many are challenged in putting an effective strategy in place,” said Richard Owen, CEO at Satmetrix.
“Whilst 77% of consumers post comments about products, 67% of businesses have no means of measuring what is being said and fewer than one in 20 have any insight into the sentiment of what is being said.”
He said this is a massive lost opportunity. “Not only are companies running the risk of losing customers by not addressing their issues shared online, but they are also walking past the opportunity to capitalise on positive comments made on the social web.”
Andrew Poppleton, managing director of Accenture's UK and Ireland Technology Group, recently told attendees of a HP customer event in London that socially-driven IT is impacting businesses, with some integrating social media into their core systems and processes.
"Instead of interacting with customers only through callcentres, some businesses are adding social media like Twitter as new entry points," said Poppleton.
Suppliers are reacting to this demand. Indian IT services firm Infosys has a platform aimed at supporting enterprise known as iEngage. This supports sales and marketing through ensuring the business is getting the right online information, via social media, to and from customers.
It also links into an eCommerce system which enables customers to immediately buy in the same place as they receive information and then manages the customer's purchase lifecycle.
There is an employee collaboration platform that helps the business share knowledge. This enables information to flow between employees and customers, employees and employees and employees and managers.
Read more about social media
- CW500: The business case for social media
- Social media technology use can improve enterprise decision making
- Enterprise must-have: better social media integration
Stocks, oil drop on latest euro zone fears - The Guardian
Asian stocks steady as sentiment improves - Financial Times
May 17, 2012 11:08 am
George Zimmerman Making Money on Infamy - YAHOO!
COMMENTARY | Guilty or not, accused Trayvon Martin killer George Zimmerman has made a lot of money in donations towards his legal defense fund and living expenses. A news release from May 16 touts Zimmerman's official legal defense fund has raised $15,424 since the new fund was established May 3. Previously, an account set up by Zimmerman before his legal representation netted more than $200,000.
The site states around $30,000 was used to help Zimmerman go into hiding. Another $20,000 of funding is kept liquid for living expenses. That totals $50,000.
That's more than many Americans make in a year. And this is all because Zimmerman shot someone.
The case features two American ideologies that seem to be in conflict. Zimmerman has a right to make money the way he sees fit. In the Internet age, asking for donations through online giving is a perfectly legal and free market way to earn cash.
The other American ideal at stake is that of being innocent until proven guilty. No matter what new evidence or hearsay is released to the media, Zimmerman still deserves a trial of his peers to determine innocence or guilt. Zimmerman's legal defense fund may even continue beyond his trial if he is found not guilty. The ensuing controversy may force the man to go into hiding even further which would require even more money.
Martin's family has seen similar outpourings of money. The Kansas City Star reports the family has raised more than $100,000 to start a criminal advocacy foundation in Martin's name. Another $40,000 of time off was given to Sybrina Fulton, Martin's mother, by co-workers at the Miami-Dade housing authority.
Both sides of the emotional issue are trying to move forward. Legal entanglements and life-changing events can be traumatic. They are also times for friends and family to gather around close to help get through difficult moments.
Supporters of Zimmerman and Martin's family have banded together to help. One man needs money for fear of his life. The dead man's family needs money to deal with the heavy burden of losing someone they love. No matter the outcome of the trial, one thing is clear. Martin's death has galvanized two opposing forces in this great country.
Regional stocks: Market slide continues - The Business Journal
All of Central Ohio's 10 most valuable public companies have taken a hit in the past week on the stock market, declines ranging from 4 percent to 17 percent.
The major indices continued their slide on Wall Street.
The Dow Jones Industrial Average closed down 156.06 points to 12,442, the NASDAQ closed down 60.35 points to 2,813 and the S&P 500 closed down 19.94 points to 1,304.
The Davidson 99, which measures stocks in seven western states, including 19 in Oregon, closed down 3.47 points to 168.16.
Among the biggest percent losers regionally were Lithia Motors (NYSE: LAD), which closed down 8.4 percent to $22.14, Paulson Capital (NASDAQ: PLCC), which closed down 7.77 percent to 95 cents and Planar Systems (NASDAQ: PLNR), which closed down 6.9 percent to $1.62.
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