More businesses investing in social media

Posted on: Wednesday, July 18, 2012

Yet another report emphasizes the business benefits that have resulted from social media, especially when it comes to insurance marketing practices.

According to market intelligence firm International Data Corporation, social media has become a significant resource for six specific job sectors - healthcare, manufacturing, retail, utilities, banking and government. By utilizing these internet-based forms of communication, organizations in these markets have been able to increase productivity, as companies are better able to develop business-to-client relationships.

Eileen Smith, program manager at IDC, indicated that businessowners are devoting tremendous resources to websites like Twitter and Facebook because they've been so beneficial.

"Industries that are consumer focused such as communications, media and recreational services are spending a larger percentage of their IT budget on social media as it is easy for them to make the shift to adopting the way consumers communicate," said Smith.

Despite more sectors relying on social media, the study also found that companies aren't taking full advantage of it, primarily using it only as a one-way form of communication rather than a collaborative one.

Posted In: Insurance News, Utilizing Social Media

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