E-Commerce Times Talkback
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Social networking technology has found a solid niche in the business world. Facebook and Twitter are proving to be powerful -- and cost-effective -- tools for connecting with customers and promoting products and services. Major corporations like Pepsi and Procter & Gamble have been so happy with the results of their various social media campaigns that they have shifted large portions of their advertising budgets from more traditional channels like print and television to the social networking realm. Social networking has also grabbed the attention of business applications developers.
The article makes several good points, especially with regard to the effectiveness of social media in enhancing business to consumer relationships.
Our company is an early adopter of TIBCO's tibbr product with its use focused on global collaboration within the organization. Toward that end we see conversations occurring daily that bring immediate value to our company and that will result in additional value to our clients. Certainly, we could have had these conversations via email or SharePoint; however, I estimate the probability of their occurrence in our environment and the speed and value of the responses to be considerably lower.
The article is correct that most business-focused collaboration products come with a significant price tag. The industry analysts I have spoken to about how one establishes an ROI for these products, to a person, has said that the financial estimate usually falls short of the real thing since the range of value that can be associated with a single, expressed idea is extremely wide and difficult to predict. Consequently, we will evaluate the cost effectiveness of our purchase and support on both quantitative and qualitative criteria.