This blog post “The Cost of Ignoring Social Media (What You Need to Know” by Heather-Anne MacLean is part of the Week 2 course readings for Lipschultz – Chapter 5 Social Media in Advertising and Marketing.
Is your company still in denial thinking that you don’t need to embrace social media? If so, you are suffering a great cost which can be documented through research. For example, McKinsey & Company research shows that unlocking value and productivity through social media is significant. In fact, the study reports that social media could potentially contribute between $900 billion to $1.3 trillion in annual value across the four commercial sectors studied.
Research from Genesys points to the fact that more than half of customer-facing Fortune 500 Corporations “suffer from social shyness”. Specifically, 55% fail to list a Twitter handle and 51% fail to list a Facebook page on their “contact us” page.
The Cost of Ignoring (COI) social media is more significant to businesses than just being socially shy. It comes down to dollars. According to a recent Forbes piece, “social media is more pervasive than ever among customers: 50%…
View original post 382 more words