Organizational Silos are limiting business benefits of Social Media, reports TCS

According to a global trend report published by Tata Consultancy Services, it was found that only 10% of enterprises are realizing significant improvements to their business as a result of social media investments. Despite the hype and increased investments, it seems that enterprises are still struggling to make the most of social media.
 
Entitled “Mastering Digital Feedback: How the best consumer companies use Social Media”, the research shows that while social media is being taken seriously by most enterprises – more than two-thirds have at least one FTE committed to social media, and the average company will spend $19 million on it and employ 56 people – significant benefits are not being achieved most commonly due to information not reaching the right functions.
 
Satya Ramaswamy, Vice-President & Global Head of TCS Digital Enterprise, TCS, commented, Despite ready availability of digitized consumer-to-consumer interactions in social media, its use by companies is today largely limited to being a mechanism for B2C marketing. Breaking down the organizational silos is the key to realizing the full power of social media. In other words, organizations need to be social and share internally to really use the power of social media externally.
 
The TCS Global Trend Report on social media surveyed 655 enterprises globally with average revenues of $15.6 billion and is the fourth TCS global trend report in the series.
 
This TCS Global Trend Report explores how 11 global consumer industries and large companies in the world’s four largest economic regions are using social media.