The most socially engaged enterprises are experiencing business value returns 4 times higher than those who have the least social engagement presence, finds PulsePoint Group in March 2012 survey results. Respondents were asked about the impact social media is having on a range of areas including sales effectiveness, operating margins, revenue growth, and product innovation. Extensively engaged businesses reported a 7.7% business impact on these key areas specifically from their social engagement, compared to 3.9% for those with limited social engagement presence, and 1.9% among those with the lowest social engagement presence. The report defines socially engaged enterprises as those that actively engage customers in meaningful conversations enabled by social technologies, to the benefit of both parties.
The study also finds that most senior executives in the US and Canada see a variety of advantages from their social engagement. The most marked among these is improved marketing/sales effectiveness, cited by 84% as a benefit of social engagement.
Other advantages from social engagement presence include:
- 81% increased market share
- 68% improved product/service quality
- 67% improved brand or stock value
- 65% improved collaboration with partners
- 65% improved speed to market/innovation
Has your company fully embrace social engagement? If so, how is it effecting your business?