$900 billion to $1.3 trillion of annual revenue.
ocial technologies have given social interactions with the advanced and range of the Internet in the current society, changing the way that the consumer interacts with brands. Social-media platforms to seek and share information in a different way since all information is publicly exposed on the Internet. Companies can create precisely targeted messages and sales to the consumer.
Communications
The use of social technologies in the global economy are increasing significantly with
72% of companies using social
tech. (Chui, 2012) As it
enhances communications, information, and collaboration within the enterprises. One of the quote says by the MGI, "By fully implementing social technologies, companies have an opportunity to raise the productivity of interaction workers." (Chui, 2012) It shows that with the improved communication and collaboration through social tech increases the productivity of companies by making more products. For example, social media helps interactions within workers in business commercial sectors such as manufacturing, packing, and professional services. Besides, companies can get the demographics and comments on social media of the product in the fastest way and reflect on their product
while facilitating the
communication with the
customers. As a result, about
$1.3 trillion of annual
value had been generated across the sectors by giving important information to the companies. Therefore, social media increases the efficiency of companies by perceiving consumer's mind.
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Social media redefines the global landscape and provides a new medium for companies to target and attract their respective audiences more effectively throught advertisments in social media, creating meaningful relationships with customers.
Annual Revenue
Productivity improvement
The interaction between workers through social technologies show a slight increase of productivity improvement in the companies with 20% to 25%. This demonstrates the effective use of social media that will benefit the companies, yet increases the economic growth within the country and brings up the country's overall GDP.
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Social Media
Current event 2
Unlocking value and productivity through social technologies