What’s the Difference between Social Media and Social Business?

“For example, in a social business, employees are smarter, more loyal, and engaged because their organization uses social networks, collaboration systems and shared messaging services. A “social” approach enables employees around the world to tap into each other’s expertise and connections. Companies can attract top talent and give employees the social tools they need to work together. Executives can layer analytics on top of social technologies to make sure their companies have the right skills and expertise to meet market demands. Today, 66 percent of companies use social business initiatives to find information more quickly, increasing productivity, but in two years that number is poised to spike to 84 percent. And in a market where acquiring a new customer can cost six to seven times more than keeping a current one, they can help improve customer loyalty through more targeted service.”

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