It looks as if the social networking application market is here to stay – in a big way. According to a new study by IDC, this market will grow from $46.8 million in 2006 to $428.3 million by 2009, establishing social networking as a new communications tool used for many purposes other than just consumer socializing.
In fact, there are three social networking segments emerging, IDC's research indicates. These include: self-service applications used by groups and marketing campaign teams; brand applications that focus on persistent customer engagement; and enterprise applications that provide more effective ways of working with customers, partners, and other external parties.
It can easily be seen that these social networking tools will be instrumental to an organization’s marketing team; they will use them to gather valuable customer input on products and services, establish brand identity, promote and educate, and this just names a few of the options.
And, according to IDC, as the market develops, social networking functionality will be built into core communication platforms like email and instant messaging (IM) applications. It looks like we are about to get even more connected than ever.
More information can be found at www.CRMindustry.com.