Social business is about leveraging social media to accomplish business objectives. It embeds social tools in many business processes, connecting people to people, people to information and data to insight. While tactical goals include increasing revenue, reducing costs and protecting corporate reputation, the primary focus has been deepening customer relationships.
If organizations choose not to harness the power of social networking with customers, they risk becoming laggards as they cede to competitors the ability to brand their products and services distinctively in the public eye. In this issue of The Bulletin, we explore the potential disruptive implications of social media for businesses, what it can mean in the marketplace from a marketing, corporate communications, reputation and brand image standpoint, and the risks it creates.