Dollar Impact of Social Media – How does a Cool Trillion or so Sound?
One of the most frequent questions we hear from clients relates in one form or another to the dollar ROI from social media. As the industry matures, more data is becoming available to shed light on this question.
A recent report from the McKinsey Global Institute examines the current usage of social technologies in four commercial sectors: consumer packaged goods, retail financial services, advanced manufacturing, and professional services. It concludes that the potential value to be unlocked by leveraging these technologies across the four sectors could potentially contribute $900 billion to $1.3 trillion in annual value.
Although the value that can be captured varies from industry to industry, all of them can benefit. The key to success? Creating the conditions for the full and enthusiastic participation of employees.
Click here for a copy of the study. Click here for a review of the report in Fast Company Magazine
For the latest information on, and best practices for, Mobile and Social Media marketing follow me on Twitter at Twitter.com/mikerabinovici
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