Monday, July 19, 2010

Survey: Businesses Missing Out on Social Media Opportunities

Companies failing to use social media to reach their customers and employees do so at their own peril, according to a new study on the importance of social media in business and customer communications.

The study, conducted by research firm Yankee Group and commissioned by Siemens Enterprise Communications, finds that the vast majority of employees and consumers would prefer to use social networking for business communications.

The study showed average customer satisfaction with current business interactions via social media is just 65 percent, and that one third of businesses have no formal social networking policies, do not allow the use of social media at work or aren't aware of their company's participation in social networking.

Survey highlights include:

-- Seventy percent of consumers want access to company experts and support via social media channels and trust company information provided to them via their social networks

-- Nearly 60 percent of customers feel company outreach via social media would improve their loyalty to that company

-- Most customers feel that companies should be monitoring social media for customer feedback

-- Fifty percent of respondents use social media daily or several times a day

-- Nearly 70 percent of employees feel they need better tools to track and manage social media for business, and would like the ability to initiate a Web conference automatically from a chat discussion at work, inviting people from within their social and work networks

More information on CRM can be found at

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