0 Replies Latest reply on Jun 7, 2012 9:14 PM by sahana

    Ryan Holmes: What Is a Social Business App, Anyway? And Why Is the Market Booming?

      What Is a Social Business App, Anyway?  And Why Is the Market Booming?

      The Huffington Post

      While consumer social like Facebook and Twitter gets the headlines, perhaps the greatest untapped potential for social networking lies in business applications.

      " The numbers back this up. Last year, 79 percent of 2,100 companies surveyed by Harvard Business Review reported that they use or plan to use social media. The average social media budget at enterprise-level businesses with more than 1,000 employees is $833,000, according to an already dated 2011 report from researcher Altimeter. In the next 5 years, marketers anticipatespending 19.5% of their budgets on social media, nearly three times the current level. And use of internal social networks in companies is up 50 percent from 2008, according to McKinsey and Co. After a slow start, big business has gone social in a big way."


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