Companies using social media are making more money, says McKinsey

Interesting research from McKinsey suggests that companies using social media  or “collaborative Web 2.0 technologies” are achieving higher profits.


This makes the case for a return on investment, a question that is often asked by senior management as well as public relations professionals trying to get to grips with social media as part of PR 2.0. It seems to show that companies that are starting to do it well are being rewarded for their efforts. More than that, it says those that fail to implement social media could be making a “critical mistake”.

McKinsey says these “networked enterprise” are gaining significantly improved performance and are not “only more likely to be market leaders or to be gaining market share”, but also use management practices that lead to margins higher than those of companies using the web in more limited ways.


Read more: http://wallblog.co.uk/2011/01/10/companies-using-social-media-are-making-more-money-says-mckinsey/#ixzz1Ar97PY1f

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