Organizations today are starting to realize measurable business value from their social business initatives. However, most firms have yet to measure the return on investment of their social business investments, according to a recent survey by Mzinga, Teradata Aster, and The Center for Complexity in Business at the University of Maryland’s Robert H. Smith School of Business.
According to the study, organizations today are primarily using social technologies for the following:
- 64% for marketing initiatives
- 47% for customer support
- 39% for employee collaboration
- 27% for sales
The data points suggest that social business technologies and initiatives are becoming more important to business in general and it’s only a matter of time that they be considered normal business practices.