Last year, a McKinsey study revealed that there’s a staggering $1.3 trillion in untapped value to be gained by businesses—specifically if they use social technologies. This potential gain is also especially tied to businesses using social media to enable better communication and collaboration in their organizations.
And yet, only three per cent of enterprises are currently doing this on a full-scale, shows the report.
It’s becoming clearer than ever that if brands want to tap into these huge potential opportunities, they need to be more aggressive in incorporating social media across their organizations. So what’s the next step forward for those—especially in highly regulated industries like finance or pharmaceutical—who are looking to bring social media into their business plans in a secure and beneficial way?
Where to Start
A good place to start is to gain a better understanding of the big changes that are happening in the business landscape, with the rise of social media.
In the video above, Jason Maynard, a tech analyst for Wells Fargo, speaks with HootSuite about the future of social business and what it means for businesses and consumers. Jason talks about what enterprises need to start doing now with their social media strategies to ensure they keeping ahead of the quickly evolving business landscape. He explains how B2B and B2C enterprises are effectively restructuring to bring social into business—and what key opportunities lie in this new paradigm.
See what other forward-thinking CEOs (like Richard Branson) and analysts (like Jeremiah Owyang) have to share about the future potential of social business:
Learn more about how HootSuite can help you embrace social media safely and securely: