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Corporates increase spending in Social Media Posted in Branding Online, Digital Strategy, Social Media, Concocted by Fred Roed,
Published on 3 September 2009

US research company, McKinsey released a report today revealing the results of a survey on social media adoption for corporate marketing strategy. It’s well worth a read, with some healthy support coming out in company’s marketing strategies for Web 2.0. adoption in the corporate environment.

This is one that the strategists and account managers will enjoy, with multiple sound bites to use in their client presentations.

MckinseyAn excerpt:

[The survey] suggests why Web 2.0 remains of high interest:

  • 69 percent of respondents report that their companies have gained measurable business benefits, including more innovative products and services, more effective marketing, better access to knowledge, lower cost of doing business, and higher revenues.
  • Companies that made greater use of the technologies, the results show, report even greater benefits. We also looked closely at the factors driving these improvements—for example, the types of technologies companies are using, management practices that produce benefits, and any organizational and cultural characteristics that may contribute to the gains.
  • We found that successful companies not only tightly integrate Web 2.0 technologies with the work flows of their employees but also create a “networked company,” linking themselves with customers and suppliers through the use of Web 2.0 tools.
  • Despite the current recession, respondents overwhelmingly say that they will continue to invest in Web 2.0.”

Read the report here.

Read more posts by Fred Roed

Fred Roed

Fred is the CEO of digital marketing agency World Wide Creative. Fred co-founded The Heavy Chef Project, as well as Ideate, a forum for African entrepreneurs. Fred focuses on online brand building, marketing strategy and loud Hawaiian shirts. Fred is famous for his sartorial excellence, long diatribes about music and fanatical attention to detail when making pizza. Follow Fred on Twitter: www.twitter.com/Fred_Roed

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