Researchers in Social Media, Businesses Need You!!!
The growth of social media has boomed over the past decade. “
Organizations cannot afford not to be listening to what is being said about them or interacting with their customers in the space where they are spending their time and, increasingly, their money too” (Malcolm Alder, KPMG, 2011).
Using social media has become a business imperative, which is definitively on the agenda of executives.
Besides its integration in marketing, advertising, public relations and customer service functions, Social Media is reaching most organizational processes and will radically impact the businesses models of organizations (Uberization as an example).
Many studies have reported that the majority (+70 %, since 2010) of big organizations operating around the world are active on social media. Five years later (2015), other reports are indicating that 80 % of social business efforts have not achieved the intended benefits due to inadequate leadership and overemphasis on technology!
If many adopters are targeting (and sometimes finding) significant benefits, they are also facing unexpected risks and difficulties along the way.
Businesses are realizing that 1) social initiatives are different from previous technology deployments, and 2) socialization through social media is widely different from traditional ways of working. In addition, the social media landscape is rapidly changing. As technology is evolving, many innovative examples have emerged. Things are going too fast compared to traditional business time frames!! Therefore businesses have to define a good approach to effectively embrace social media; facing the risk of being outdated if they fail.
Research about the impact of social media on business is very rich, with empirical and analytical models available. However, despite all of this, organizations are unsuccessful when it comes to decision making, strategic tools, and business models optimization. Businesses need help from research in order to mitigate their risks in choosing and working with social media.