Social media not just a marketing tool

The report said the development of “social business” will mean very radical changes not only to businesses’ relationships with customers, but also to their operations and nature.

Deloitte said organisations are realising that establishing a social media presence and acquiring the necessary technology is only the first step, and Australian businesses are at different stages in their uptake of social media.

“Some local pioneers are adapting their operating models to incorporate social-derived data, tools, software and channels,” Deloitte said.

“Conversely, it seems that some Australian organisations are failing to effectively embrace social business as a part of core business operations due to a lack of awareness and understanding of social tools.”

Deloitte consulting partner Niki Alcorn said more companies will need to proactively respond to what they hear and learn from customers via social sources.

“Right now the emphasis is still on brand management and the use of social tools by business to help market or sell products,” she said.

“Businesses are learning that to successfully use social in business, they need to tap into the burgeoning number of social communities. Brands that recognise this will continue to have the advantage.”

Ms Alcorn said companies now recognise that developing into a social business offers the potential for progress across many dimensions.

“As corporate ambitions grow, so will the use of social media tools, as they allow organisations to be global while removing many of the hurdles associated with going global,” she said.

“It will be the forward-looking Australian businesses that proactively embrace the new challenges of getting the right information to the right audience at the right time by using the social channels most likely to resonate with them which will thrive in the future.”