Social media for businesses is moving extremely fast.
- The challenge is to use social media effectively and put these productivity tools in place correctly.
- Managers are developing nonhierarchical cultures, where data and knowledge are exposed and shared.
- Companies are figuring out ways to manage how customers view them.
- It is been a flood of social media acquisitions from companies like Oracle (Involver, Vitrue, Buddy Media), Salesforce (GoInstant) and Microsoft (Yammer). And publicity-traded business like Jive Software and Bazaarvoice have experienced a big value increase.
Why this fast adoption?
Basically, social media enables marketers to make and sell products more effectively hooking product information up with customers and observing behavior better.