The Business Value of Social Tools

'Miranda Man' | Bloom Social Business | January 3, 2013

It goes without saying that social media has transformed the way that humans interact and communicate.  However, what of the business value of social technology? Can businesses utilise and benefit from the shift in human interaction and communication?

In a recent report, McKinsey explored the business value of social technology for both employee and customer engagement.  The report gives several examples of how organisations can use social technologies to unlock business value and backs up this research with statistics.

“In a study of four large industry sectors, it was estimated that social platforms could unlock up to $1.3 trillion in economic surplus value in those four sectors alone.”  [McKinsey Report]

However, it is not simply a case  of implementing social tools and hoping they come up with the goods.  Capturing the full potential of social tools will require changes to the organisation and management approach which take time and effort to implement.


Open Health News' Take: 

Read the growing collection of news clips & articles about Social Networking in Healthcare posted on Open Health News  -  Peter Groen, Senior Editor, OHNews