Social Business By the Numbers

Do companies know why consumers interact with their social sites? What is the value of the social enterprise software market? How much value can social business deliver? MIT SMR‘s Social Business — By The Numbers list answers these questions and more.

Reading Time: 2 min 

Topics

Social Business

Social business research and more recent thought leadership explore the challenges and opportunities presented by social media.
See All Articles in This Section
Like what you're reading?
Join our community
Member
Free

5 Free Articles per month, $6.95/article thereafter. Free newsletter.

Subscribe
$89 $44/Year

Unlimited digital content, quaterly magazine, free newsletter, entire archive.

Sign me up

The general interest magazine Harper’s includes a famed feature every issue called the Harper’s Index. It’s a list of random and yet sometimes connected facts about anything and everything in the world.

Here, our version of an Index highlighting the facts and stats we’re intrigued by in the world of social business today:

1st

How high managers rank “Learning about new products” as a reason consumers interact with their companies’ social sites.1

6th

How high consumers rank “Learning about new products” as a reason to interact with companies’ social sites.2


63%

Percentage of businesses that think consumers interact with their social sites to submit ideas for new products/services.3

30%

Percentage of consumers who say they interact with corporate social sites to submit ideas for new product/services.4


3%

Percentage of surveyed companies that a McKinsey report describes as fully socially networked.5

$1.3 trillion

Amount of value a McKinsey report says could be generated annually from corporate use of social technologies.6


48%

Percentage of CEOs who believe social media is important or somewhat important to their business today.7

24%

Percentage of CIOs who believe the same thing.8


61%

Percentage of businesses that think consumers interact with their social sites to “be part of a community”.9

22%

Percentage of consumers who say they interact with a business’ social site to “to be part of a community”.10


52%

Percentage of managers who believe social software is important or somewhat important to their business today.11

86%

Percentage of managers who believe social software will be important or somewhat important to their business in three years.12


$600 million

The value of enterprise social software market in 2010.13

$6.4 billion

Expected value of enterprise social software market in 2016.14


$1.59 billion

Value of social media advertising spend in 2011.15

$4.995 billion

Expected value of social media advertising spend in 2016.16

 

REFERENCES

1. Carolyn Heller Baird and Gautam Parasnis, “From social media to Social CRM,” IBM Institute for Business Value, 2011. Figure 4, p. 9, Accessed August 4, 2012.

2. Carolyn Heller Baird and Gautam Parasnis, “From social media to Social CRM,” IBM Institute for Business Value, 2011. Figure 4, p. 9. Accessed August 4, 2012.

3. Carolyn Heller Baird and Gautam Parasnis, “From social media to Social CRM,” IBM Institute for Business Value, 2011. Figure 4, p. 9.

Read the Full Article

Topics

Social Business

Social business research and more recent thought leadership explore the challenges and opportunities presented by social media.
See All Articles in This Section

More Like This

Add a comment

You must to post a comment.

First time here? Sign up for a free account: Comment on articles and get access to many more articles.