The Business of Social: Engagement, Innovation & Collaboration
Social networking technology is one of the most important communication conduits to arise since the mobile phone. This new means of communication is redefining how consumers reveal the details of their lives and what it means to connect with others. The instant sharing of news and information with these always-on networks is shifting culture: The chatter through platforms like Facebook and Twitter boosts the prominence of personal narratives and makes users’ lives more open for others to see. These digital personal networks are in many ways like having a group of friends, relatives and others in the next room waiting to react to both the profound and the trivial aspects of someone’s life. Enterprises, too, are crowding into the room. They are carving out footholds in social networks as they construct new ways of communicating. Workers are using wikis, corporations are blogging and global brands are looking for Facebook “likes.” While social is pervasive in the lives of consumers, the answers as to how enterprises can succeed in this new world are still emerging. There are big questions about how to
best incorporate social tools and how to profit from them.