Why McKinsey Says Social Media Could Add $1.3 Trillion to the Economy | Social Media Butterflies | Scoop.it

"It's a natural progression of a truly ubiquitous business process. Social media started as a fad, then became a trend, and is now becoming fully integrated in the fabric of how we do business."

 

Welcome news to the jobs-starved economy. 

 

Excerpts:

 

The study states that, "two-thirds of this potential value lies in improving collaboration and communication within and across enterprises."   Microsoft's acquisition of Yammer and Salesforce.com's purchase of Radian6 are evidence, as well as designated new internal productivity tools that will integrate into current business processes.

 

Think of the jobs-creation these new tools might influence.

 

Educate both the workforce and leaders on what social media is and how to access its power.


Retool to welcome the millennial workforce who takes access to social technologies as a given.

 

The study also states:


very few [companies] are anywhere near to achieving the full potential benefit of social media.
the most powerful applications of social technologies in the global economy are largely untapped
Via Henri Lefèvre, Deb Nystrom, REVELN