Wednesday, December 02, 2009

How Corporations Are Benefiting from the Social Media

A fascinating survey by McKinsey(via eMarketer) asked companies which Web 2.0 technologies were providing the biggest benefits, both internally and externally. While blogs were cited as the most useful tools — bringing measurable benefits to 51% of responding companies worldwide, followed by video-sharing and social networking, at 48% each — wikis, podcasts, ratings and tags were also seen as beneficial to some.

(Another recent study found that, among Fortune 100 companies, the #1 choice among social media channels is Twitter.)
Among the benefits flagged by the McKinsey research: more than half of respondents (52%) said that social media tools increased marketing effectiveness; 43% reported higher customer satisfaction; and 38% cited reduced marketing costs.

The industries reporting the most benefit from Web 2.0 were technology companies and business/legal/professional services firms. While the report doesn’t say why, it seems evident to me that it’s because companies in these industries are more likely to be engaged in thought-leadership marketing.

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