Social Media is a Must for Businesses

Social media is crucial to the success of any business, and this recent study by MIT and Deloitte shows exactly why…in numbers!

Three years. That is the time frame this study has given for businesses to adopt social media. For many of us, social media for business is a no-brainer. The advantages far outweigh the costs, and the returns are both measurable and remarkable. So why are so many still hesitant when it comes to adopting social media as a cornerstone of their business?

There is always the argument that due to the medium’s incipience, there has not been a chance for longitudinal studies to be conducted, and therefore its viability can be questioned. While this holds true for most media, social is in a class of its own. On a micro level, we can examine Pinterest. Over 1,500% growth in traffic over the last year! Pinterest is just another juggernaut on the unstoppable train that is social media for business, and finally a study shows that.

The study conducted by MIT and Deloitte show that social is present in all facets of business, it proves to be an excellent resource for numerous departments, and yet only 18% of businesses have incorporated social media fully into their strategies. Well, that might change as a result of their findings. Three years is the calculated deadline for businesses to go social. Missing the proverbial social media boat can cost businesses significantly. Take a look at the video below to see why that is the case when it comes to social media for business.

Do you agree with the study’s findings? How long would you say it will take for social to be among the most important aspects of successful business strategies (if it isn’t already)? Tell us in the comments below or on Twitter!