Changing the game
As social media become increasingly central to daily communication, classic corporate marketing is facing a radical upheaval. Companies are having to find new ways to communicate with their customers more effectively. After all, some 1.4 billion users a day are now visiting the top 15 social networking sites. And a million new accounts are being opened each day on Twitter.
This represents enormous potential that businesses cannot afford to ignore – as three out of four top managers testify. It is clear that social media channels have a major influence on consumers. Opinions communicated here often determine the success or failure of a product. The development of appropriate corporate strategies in the age of social networking was the central focus of the Social Media Think:Lab Thought Leader's Summit. Held in Munich, the summit was jointly organized by Roland Berger Strategy Consultants and the University of Münster's Department of Marketing & Media.
The question of how companies can best prepare themselves for social media marketing and effectively align their business model is addressed in this publication. Entitled "Changing the game", the study appears in the think:act CONTENT series.